Solar Panel Cost Guide in Mount Vernon, IL (2024 Update)
- Mount Vernon Solar Installation Cost: $16,093
- 25-Year Savings: $13,176
- Payback Period: 16.2 Years
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Average Cost of Solar Panels in Mount Vernon
We go over average solar pricing in Mount Vernon.
The average cost of solar panels in Mount Vernon is 4 per watt.Using this figure, a typical 6.1-kW system would cost about $16,093 before the 0 federal solar tax credit is applied.
Bear in mind that the figures above are only estimates based on the average Mount Vernon homeowner. The price of a solar system for your home may look different depending on factors unique to your situation, like your household energy use and solar contractor.Even with the large initial cost, the average Mount Vernon homeowner can save about $15,000 on their electricity bills over 20 years, which is one of the positives of solar.
For a personalized quote from a local solar installer that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Mount Vernon
| Year | Return on Investment |
|---|---|
| 1 years | $-15,243 |
| 3 years | $-13,541 |
| 5 years | $-11,840 |
| 7 years | $-10,139 |
| 9 years | $-8,438 |
| 11 years | $-6,736 |
| 13 years | $-5,035 |
| 15 years | $-3,334 |
| 17 years | $-1,632 |
| 19 years | $69 |
| 21 years | $1,770 |
| 23 years | $3,472 |
| 25 years | $5,173 |
Top Solar Installers in Mount Vernon
Although you can install solar panels yourself, it requires extra labor and handiness. Because of that, almost all homeowners choose to go with a solar panel installer. In addition, if you’d like to maximize your investment in solar, using a solar company can help with that too. Different providers can offer repairs, expertise on installation and sometimes even information on local incentives, rebates and net metering programs.
You can get a free estimate from a local solar installer on the cost of solar panels for your home. Here are some nearby:
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 Vernon
Factors that Affect Solar Panel Costs in Mount Vernon
Cost is typically one of the most important factors for homeowners wanting to invest in solar. There are a few major factors that affect your total cost in Mount Vernon: solar equipment and system size, financing options and the solar installation company you choose. We’ll go over each of these briefly below.
Solar Equipment
One of the most important factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more energy your household uses, the larger your system will likely need to be. You can expect to spend around $3,760 per kilowatt in Mount Vernon.Some solar brands — like Maxeon from SunPower — cost more upfront but also tend to offer higher efficiency. In a city like Mount Vernon, where sunlight is relatively abundant, efficiency can quickly pay off. In addition, if you have a small roof or you don’t have a lot of 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 a popular option because they reduce your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years.It’s wise 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 the amount of time it’ll take to pay off the loan.
Solar Panel Installation Company
The solar installer you opt for to handle your switch to sustainable energy can play a role in your total costs. There are about 3 solar installation companies operating throughout Mount Vernon, and each can charge different amounts for labor and equipment.Companies that only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally cost more. It’s best to do some research and choose a company that has the products, warranties and services you’re looking for and also fits 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 | $7,971 | 16.8 years |
| 8 kW | $3.84 | $21,477 | $11,049 | 16.5 years |
| 10 kW | $3.76 | $26,320 | $14,338 | 16.2 years |
| 12 kW | $3.68 | $30,952 | $17,838 | 15.9 years |
| 14 kW | $3.61 | $35,374 | $21,547 | 15.5 years |
| 16 kW | $3.53 | $39,585 | $25,468 | 15.2 years |
| 18 kW | $3.46 | $43,586 | $29,599 | 14.9 years |
| 20 kW | $3.38 | $47,376 | $33,940 | 14.6 years |
How to Save on Solar Panels
The solar installer you go with will be a major factor in determining not only your overall costs, but also the types of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are several important things you should consider, including:
- Contract: Before signing a contract with a solar installer, make sure to read it through carefully so you understand the terms. Also, ask questions if you’re unsure about some of the terms, such as what to do if a part breaks or malfunctions and if there are any guarantees about energy production.
- Installation Process: When going solar, it’s important to keep an open line of communication with your solar company. Confirm that you understand how the installation process will go and the project completion timeline.
- Reputation: Companies that have been operating for many years likely have a high reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide quality aftercare and customer service, such as part repairs and replacements.
- Solar Panel Brands: Different companies offer different brands and kinds of panels. If you know you want a specific brand, make sure the solar company you’re considering has it.
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 Vernon, IL Solar Cost FAQs
What is the average cost of installing solar panels in Mount Vernon?
This is a tough question to answer exactly, 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 additional solar equipment or higher quality panels, or if you have higher-than-average energy consumption. Conversely, you can spend less if you go with a smaller solar panel system or less efficient solar panels.
Is cost the most important thing to keep in mind when buying solar panels?
The upfront cost is a key factor to consider, but whether it’s the most important for you depends on why you decided to go solar. In cities 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.
Do solar panels increase how much your home is worth?
Solar panels can increase your property’s 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 do I need to power my home?
To figure out how many solar panels you need, you need to know how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can typically 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.