Solar Panel Cost Guide in Mound, IL (2024 Update)
- Mound Solar Installation Cost: $16,374
- 25-Year Savings: $13,766
- Payback Period: 16.0 Years
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Average Cost of Solar Panels in Mound
Find out what the average cost of solar panels are in Mound.
The average cost of solar panels in Mound is 4 per watt.The average Mound homeowner needs a 6.2-kilowatt system, which would cost about $16,374 with the federal tax credit, or $23,415 before the 0 tax credit is applied.
Keep in mind that the numbers above are only averages. The price you’ll pay for solar may vary based on your household energy use, the type of solar system you choose, your solar contractor and more.But, once you've paid the initial cost of installation, the return on investment for most homeowners is typically good, with a net average savings of about $16,000 over 20 years on electricity bills.
Click the button below to get connected to a vetted solar company in your area for a custom estimate.
Solar savings over time in Mound
| Year | Return on Investment |
|---|---|
| 1 years | $-15,523 |
| 3 years | $-13,822 |
| 5 years | $-12,120 |
| 7 years | $-10,419 |
| 9 years | $-8,718 |
| 11 years | $-7,017 |
| 13 years | $-5,315 |
| 15 years | $-3,614 |
| 17 years | $-1,913 |
| 19 years | $-211 |
| 21 years | $1,490 |
| 23 years | $3,191 |
| 25 years | $4,892 |
Top Solar Installers in Mound
When switching to solar energy, many homeowners decide to go with a solar installer since installing a solar system yourself can be a time-consuming project. The expertise that solar installers offer can be valuable as well, particularly if you aren’t sure what brand of solar equipment would be right for your home.
Working with a professional solar company can make going solar easier. Here are our recommendations:
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 Mound
Factors that Affect Solar Panel Costs in Mound
For many Mound homeowners, the decision to adopt solar energy comes down to cost. However, the range of solar installation costs can be quite wide in Mound, with typical prices between $20,000 to $40,000. There are numerous factors that significantly influence the price you’ll pay, which we'll go over below.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more power your household uses, the larger your system will likely need to be. You can expect to spend around $3,760 per kilowatt in Mound.Some solar brands — like Maxeon from SunPower — cost more upfront but also tend to offer better efficiency. In a city like Mound, where sunlight is relatively abundant, efficiency can quickly pay off. In addition, if you have a small roof or limited space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
If paying for solar panels in cash is out of reach, solar loans are an affordable option because they reduce your upfront costs and let you pay for your system over five to seven years on average.When figuring out your overall cost, you should also calculate the interest you’ll pay if you opt for a solar loan. Also, paying a higher down payment can reduce the total interest paid over time.
Solar Panel Installation Company
The remaining major cost factor you should take into consideration is the installer you choose. Given the booming popularity of clean energy solutions in Mound, you’ll have a great number of options to choose from, but each comes at different price points for labor and equipment.You may see national solar installers that have lower prices because of their bigger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or promotions to compete with those major players.
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 | $8,319 | 16.6 years |
| 8 kW | $3.84 | $21,477 | $11,514 | 16.3 years |
| 10 kW | $3.76 | $26,320 | $14,919 | 16.0 years |
| 12 kW | $3.68 | $30,952 | $18,534 | 15.6 years |
| 14 kW | $3.61 | $35,374 | $22,360 | 15.3 years |
| 16 kW | $3.53 | $39,585 | $26,396 | 15.0 years |
| 18 kW | $3.46 | $43,586 | $30,644 | 14.7 years |
| 20 kW | $3.38 | $47,376 | $35,101 | 14.4 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you pick the right company for you, here are some tips to keep in mind:
- Solar Panel Brands: Each solar panel brand and kind offers varying levels of quality, longevity and efficiency. They will come at different price points as well. The company you choose plays a role in which solar panel brands you have access to.
- Reputation: Your solar installer should have a sound reputation as a company and have demonstrated expertise in the field. Two ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has satisfied reviews from past customers.
- Contract: It’s important to look over your solar installer’s contract thoroughly to understand what services they will provide, what the warranty covers and what you can expect about the project timeline.
- Installation Process: When going solar, it’s important to keep an open line of communication with your solar panel company. Confirm that you understand how the installation process will go and the completion timeline.
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 Mound, IL Solar Cost FAQs
How much does it cost to install solar panels in Mound?
The average cost of solar panels in Mound is about $18,800 for a 5-kW system and $37,600 for a 10-kW system before the ITC, but the real cost will depend on stuff like the type of solar panels you want, what size system you need and how much energy you consume.
Are solar panels free in Mound?
Solar panels aren’t free in Mound, but there are some options that can make getting them more feasible, 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?
Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Mound is currently $182,087, so you could be looking at a value of about $7,466 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Mound is a worthwhile investment.
What solar power system size is right for my home?
To figure out what solar panel system size 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 house 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.