Solar Panel Cost Guide in Mount Sterling, IL (2024 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.
The national average cost of solar panels is $2.66 per watt, but in Mount Sterling it’s 4 per watt.The average solar panel system size in Mount Sterling is around 6.3 kilowatts, meaning a cost of about $16,484 for a solar installation, or $23,572 before the 0 federal solar tax credit is applied.
Bear in mind that the figures above are only estimates based on the average Mount Sterling homeowner. The cost of a solar system for your home may look different depending on factors unique to you, like your household energy use and solar contractor.For most homeowners, the upfront investment in solar panels is worth paying. On average you could be looking at about $15,000 in savings on electricity bills over 20 years.
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:
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 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 quite a few factors that can have a sizable impact on the cost of a solar system installation. Below are some of the more crucial things to keep in mind.
Solar Equipment
When it comes to estimating the price of solar panels in Mount Sterling, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home’s energy consumption, which you can determine by looking at past power bills. Your total cost can increase by about $3,760 for each additional kilowatt you need.The brand and type of equipment you choose 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 a small roof or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to more savings over time. Plus, if you want extra equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be difficult. Solar loans are offered by most installers in Mount Sterling, which can reduce, or in some cases completely eliminate, your upfront costs to make solar more affordable.It’s a good idea to include the interest you’ll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and how long it’ll take to pay off the loan.
Solar Panel Installation Company
Lastly, the company you choose to install your solar panels can impact how much it costs. Mount Sterling’s solar companies all have different labor costs and add varying upcharges to equipment. Some companies only sell high-quality, high-efficiency and high-price products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come at a higher cost. It’s best to do some research and choose a company that provides the products, warranties and services you’re looking for and also is within your budget.
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
The company that does your solar panel installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because picking a company can be a challenge, we have some tips to help you, such as:
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their roof configurations and energy needs. Even though there are many options for which type of solar panel you can get, not every company will have the exact one you may want or need, so make sure you peruse their list of offerings before deciding.
- Reputation: Your solar installer should have a good reputation as a company and have verifiable expertise in the field. Two ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has good reviews from past customers.
- Contract: Review the contract terms closely to make sure you understand the cost breakdown, project completion timeline rebates and warranties.
- Warranty: Companies typically offer different kinds of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
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 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 actual cost will depend on things 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 consider are the quality and durability of your solar panels.
How will having solar panels impact my home value?
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, so you could be looking at a value of about $5,452 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Mount Sterling is a fruitful investment.
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 usually 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.