Solar Panel Cost Guide in Mount Sterling, IL (2025 Update)
- Mount Sterling Solar Installation Cost: $16,484
- 25-Year Savings: $13,177
- Payback Period: 16.4 Years
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Average Cost of Solar Panels in Mount Sterling
See how much it might cost to go solar in Mount Sterling.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Mount Sterling, the average cost of a solar system is 4 per watt.To account for the typical energy needs of the average home in Mount Sterling, most homeowners require a 6.3-kilowatt system. Using the per-watt figure above, a solar installation costs about $16,484, or $23,572 before the federal solar tax credit of 0 is applied.
Bear in mind that the figures above are only estimates based on the average energy use of Mount Sterling homeowners. The price of a solar system for your home may be different depending on factors unique to your situation, like your household energy use and solar contractor.But, after you've paid the initial cost of installation, the ROI for most homeowners is quite fruitful, with a net average savings of about $15,000 over 20 years on power bills.
To get a free quote from a vetted solar installation company in Mount Sterling, you can click the button below.
Solar savings over time in Mount Sterling
| Year | Return on Investment |
|---|---|
| 1 years | $-15,633 |
| 3 years | $-13,932 |
| 5 years | $-12,231 |
| 7 years | $-10,529 |
| 9 years | $-8,828 |
| 11 years | $-7,127 |
| 13 years | $-5,426 |
| 15 years | $-3,724 |
| 17 years | $-2,023 |
| 19 years | $-322 |
| 21 years | $1,380 |
| 23 years | $3,081 |
| 25 years | $4,782 |
Top Solar Installers in Mount Sterling
Do-it-yourself solar panel installation is a way to cut costs, but it's an undertaking that can be a pain. Taking advantage of an installer can make switching to solar power much easier. Plus, if you’re not certain what kind of solar panels and equipment you want, a solar company can help you figure that out after a site survey and consultation.
There are various licensed solar professionals that can help you install your solar panels. Here are our suggestions:
See all of the solar companies in Mount Sterling
Factors that Affect Solar Panel Costs in Mount Sterling
Although the average cost of a solar system in Mount Sterling is $16,484, your actual cost may be above or below the average. There are several factors that can have a significant impact on the cost of a solar system installation. Below are some of the more important things to take into consideration.
Solar Equipment
One of the most important factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household uses, the larger your system will likely need to be. You can expect to pay around $3,760 per kilowatt in Mount Sterling.The brand and type of equipment you want for your solar system can raise or lower the price quite significantly. If you prefer a brand name like Tesla or SunPower, these are often more expensive than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have limited roof space or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to greater savings over time. Also, if you want extra equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Mount Sterling to be too steep, even if the investment pays off over time. Thankfully, almost every solar company in the area provides financing options. Solar loans substantially decrease upfront costs for most homeowners, but they also lead to a higher cost over time because of interest.It’s wise to add the interest you’ll pay in your final cost estimate. If you can afford to pay a higher down payment, you can reduce your total costs and how long it’ll take to pay off the loan.
Solar Panel Installation Company
The solar company you go with to handle your switch to renewable energy can play a role in your total costs. There are about 3 solar installation companies operating in Mount Sterling, and each can charge varying amounts for labor and equipment.You may notice national solar installers that have lower prices because of their bigger brand name and access to bulk prices, or you might see small, local installation companies offering deals or promotions to compete with those larger companies.
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 | $7,666 | 17.0 years |
| 8 kW | $3.84 | $21,477 | $10,642 | 16.7 years |
| 10 kW | $3.76 | $26,320 | $13,829 | 16.4 years |
| 12 kW | $3.68 | $30,952 | $17,226 | 16.1 years |
| 14 kW | $3.61 | $35,374 | $20,834 | 15.7 years |
| 16 kW | $3.53 | $39,585 | $24,653 | 15.4 years |
| 18 kW | $3.46 | $43,586 | $28,682 | 15.1 years |
| 20 kW | $3.38 | $47,376 | $32,922 | 14.8 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you find the right company for you, here are some tips to keep in mind:
- Solar Panel Brands: The type of solar panel you need plays a role in which company you should go with, since different companies offer different panels.
- Reputation: Solar panel companies that have great reviews from their customers and that have been in business for many years most likely provide quality solar panel installation and expertise.
- Contract: Review the contract terms thoroughly to make sure you understand the total cost, completion timeline rebates and warranties.
- Warranty: Many companies offer different types of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
EcoWatch's Mount Sterling, IL Solar Cost FAQs
What is the average cost of installing solar panels in Mount Sterling?
The average cost of solar panels in Mount Sterling 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 model of solar panels you want, what size system you need and how much energy you consume.
What other factors should I consider aside from cost when buying solar panels?
The initial cost is a crucial factor to consider, but whether it’s the most important for you depends on why you decided to go solar. In areas where rooftop space is limited, efficiency can trump the cost. Other factors that are important to think about are the quality and durability of your solar panels.
How will solar panels impact how much my home is worth?
Installing solar panels on your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Mount Sterling is currently $132,973, which means you can expect a value of about $5,452 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Mount Sterling is a worthwhile investment.
How many solar panels should I get to power my home?
To figure out how many solar panels you need, you should find out how much energy your home needs 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 household 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.