Solar Panel Cost Guide in Morton, IL (2024 Update)
- Morton Solar Installation Cost: $16,749
- 25-Year Savings: $9,443
- Payback Period: 19.4 Years
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Average Cost of Solar Panels in Morton
We break down average solar pricing in Morton.
While the national average of solar panels is $2.66 per watt, solar panels in Morton generally cost about 4.To cover the typical energy usage of the average home in Morton, most homeowners require a 6.4-kilowatt system. Using the figure above, a solar installation costs around $16,749, or $23,951 before the federal solar tax credit of 0 is applied.
Remember that the numbers above are only averages. The price you’ll end up paying for solar may look quite different based on your household energy consumption, the type of solar system you want to get, your solar contractor and more.For most homeowners, the upfront cost of solar is worth paying. On average homeowners in Morton see about $13,000 in savings on energy bills over 20 years.
To calculate your potential savings and connect with a local solar expert, click the button below.
Solar savings over time in Morton
| Year | Return on Investment |
|---|---|
| 1 years | $-15,898 |
| 3 years | $-14,197 |
| 5 years | $-12,496 |
| 7 years | $-10,795 |
| 9 years | $-9,093 |
| 11 years | $-7,392 |
| 13 years | $-5,691 |
| 15 years | $-3,989 |
| 17 years | $-2,288 |
| 19 years | $-587 |
| 21 years | $1,115 |
| 23 years | $2,816 |
| 25 years | $4,517 |
Top Solar Installers in Morton
DIY solar panel installation is a way to cut costs, but it's an undertaking that can use up a lot of your time and energy. Taking advantage of an installer can make your switch to solar power much easier. Also, companies with an outstanding reputation that cost more upfront could actually save you money in the long term with their warranties, repair services and expert design.
There are several licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
See all of the solar companies in Morton
Factors that Affect Solar Panel Costs in Morton
Though the average cost of a solar system in Morton is $16,749, your final cost may be above or below the average. There are several factors that can have a sizable impact on the cost of a residential solar panel installation. Below are some of the more important things to take into consideration.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a few different factors. One of the major factors is the system size, which is measured in kilowatts (kW). Solar power systems with higher efficiency or power generation use better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $3,760.The model of solar panels and equipment you want is another factor that will significantly affect costs. Solar panels that are more efficient, like monocrystalline panels, tend to be more expensive. Moreover, solar equipment goes beyond just the solar panels themselves. You’ll also need to consider the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when searching for a solar system that’s in your budget.
Solar Financing Terms
Many homeowners find the average cost of solar in Morton to be prohibitively steep, even if the investment pays off over time. Thankfully, nearly every solar company in the area provides financing options. Solar loans substantially decrease upfront costs in most cases, but they also lead to higher prices over time due to interest.It’s a good idea to factor the interest you’ll pay in your final cost estimate. If you can afford to pay a larger down payment, you can reduce your total costs and how long it’ll take to pay back the loan.
Solar Panel Installation Company
A final factor to keep in mind when trying to evaluate the cost of solar for your home or business in Morton is the company you get to install your PV system. As with choosing a company to build a deck or pool, for example, there’s no shortage of solar installers that provide a range of services for different budgets.The company’s size can sometimes play the most significant role in your costs. Larger national companies, like SunPro and Sunrun, often have lower pricing because they have access to more resources and better pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or discount can bring their pricing lower to compete with bigger names.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $3.91 | $16,424 | $3,945 | 20.2 years |
| 8 kW | $3.84 | $21,477 | $5,682 | 19.8 years |
| 10 kW | $3.76 | $26,320 | $7,628 | 19.4 years |
| 12 kW | $3.68 | $30,952 | $9,786 | 19.0 years |
| 14 kW | $3.61 | $35,374 | $12,154 | 18.6 years |
| 16 kW | $3.53 | $39,585 | $14,732 | 18.2 years |
| 18 kW | $3.46 | $43,586 | $17,521 | 17.8 years |
| 20 kW | $3.38 | $47,376 | $20,521 | 17.4 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because selecting a company can be a challenge, we have some tips to help you, such as:
- Installation Process: Homeowners should make sure they understand how exactly the installation process will go, as well as important factors like the completion timeline.
- Contract: When reading over your solar company’s contract, ask questions about any terms you’re not sure of and make sure you understand what happens in scenarios such as a system component breaking or if the company goes out of business.
- Warranty: Each company may offer different kinds of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and energy needs. Although there are many options for which type of solar panel you can get, not every company will have access to the exact one you may want or need, so be sure to take a look at their list of offerings before deciding.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
EcoWatch's Morton, IL Solar Cost FAQs
What is the average cost of installing solar panels in Morton?
This is a tough question to answer precisely, because the cost depends on a few different factors. Broadly speaking, it costs about $18,800 for a 5-kW system and $37,600 for a 10-kW system after the ITC is applied. It will cost more if you want other solar equipment or more efficient panels, or if you have above-average energy consumption. On the flip side, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.
Are solar panels free in Morton?
A solar panel system isn’t free in Morton, but there are some options that can make getting them more viable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can help lower the cost.
Do solar panels increase your property value?
Solar panels can increase your home value remarkably as long as you buy or finance your panels and don’t opt for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% with a solar installation."
How many solar panels should I get to power my home?
To figure out how many solar panels you need, you need to know how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can generally produce about 250 to 400 watt-hours per hour, the average home will need 20 to 35 panels.
Our goal is to reach as many people as we can with sensible solutions like solar energy. Our team of full-time local researchers collects solar price and installation data for every city in America then compiles it to create these digestible city guides. If you want to read our solar expert's opinion on the top solar companies featured here, follow this link.
Company research was conducted by Melissa Smith and Karsten Neumeister. Local data analysis was conducted by James Savino. See something we missed or could do better? Email the editor.