Solar Panel Cost Guide in Mount Vernon, IL (2023 Update)
- Mount Vernon Solar Installation Cost: $11,676
- 25-Year Savings: $13,185
- Payback Period: 11.8 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Mount Vernon
Find out what the average cost of solar panels are in Mount Vernon.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Mount Vernon, the typical cost of a solar system is 2.73 per watt. The average Mount Vernon homeowner needs a 6.1-kilowatt system, which would cost about $11,676 with the federal tax credit, or $16,697 before the 30% tax credit is applied.
Bear in mind that the figures above are only estimates based on the average energy use of Mount Vernon homeowners. The cost of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor. Many homeowners find installing a solar system is a rewarding investment. The average homeowner in Mount Vernon can save about $15,000 on their energy bills over 20 years.
To see your potential ROI and connect with a local solar installer, click the button below.
Solar savings over time in Mount Vernon
| Year | Return on Investment |
|---|---|
| 1 years | $-10,682 |
| 3 years | $-8,693 |
| 5 years | $-6,704 |
| 7 years | $-4,715 |
| 9 years | $-2,726 |
| 11 years | $-737 |
| 13 years | $1,251 |
| 15 years | $3,240 |
| 17 years | $5,229 |
| 19 years | $7,218 |
| 21 years | $9,207 |
| 23 years | $11,196 |
| 25 years | $13,185 |
Top Solar Installers in Mount Vernon
Although it's possible to install solar panels on your own, it takes extra effort and know-how. That's why most homeowners choose a solar panel installer. A solar company can also help save you money over time by providing warranties, repairs and system component replacements.
Working with a professional solar installer can make going solar easier. Here are our recommendations:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
See all of the solar companies in Mount Vernon
Factors that Affect Solar Panel Costs in Mount Vernon
Cost is usually one of the most important factors for homeowners who want to invest in solar. There are a few primary factors that will push your cost above or below the average 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
The size of the solar system you need, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by around $2,730. Some solar brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer higher efficiency. In a city like Mount Vernon, where sunlight is relatively abundant, efficiency can quickly pay off. Also, 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
Many homeowners find the average cost of solar in Mount Vernon to be prohibitively costly, even if the investment pays off over time. Thankfully, almost every solar installer in the area provides access to financing options. Solar loans drastically decrease upfront costs in most cases, but they also result in paying more over time because of interest. When figuring out your overall cost, you should also calculate the interest you'll pay if you decide on a solar loan. Also, paying more upfront can reduce the total interest paid over time.
Solar Panel Installation Company
The solar company you choose to handle your switch to sustainable energy can have an effect on your total costs. There are about 3 solar panel companies in Mount Vernon, and each can charge different amounts for labor and equipment. Companies that only sell high-efficiency and high-priced products — 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 find a company that offers the products, warranties and services you want 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 | $2.84 | $11,925 | $12,470 | 12.2 years |
| 8 kW | $2.78 | $15,594 | $16,933 | 12.0 years |
| 10 kW | $2.73 | $19,110 | $21,548 | 11.8 years |
| 12 kW | $2.68 | $22,473 | $26,317 | 11.5 years |
| 14 kW | $2.62 | $25,684 | $31,238 | 11.3 years |
| 16 kW | $2.57 | $28,741 | $36,312 | 11.0 years |
| 18 kW | $2.51 | $31,646 | $41,539 | 10.8 years |
| 20 kW | $2.46 | $34,398 | $46,918 | 10.6 years |
How to Save on Solar Panels
Since the model of solar panels and the company you choose considerably influences your costs and your system's efficiency, production, and durability, it's important to pick the right ones for you. Here are some things to keep in mind to help with your decision:
- Contract: When reading over your solar installer's contract, ask for clarification about any terms you're not sure of and be sure you understand what happens in scenarios like a system part breaking or the company going out of business.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their roof configurations and how much efficiency they need. Although there are many options for which model of solar panel you can get, not every company will have the exact one you may want or need, so make sure you ask for their list of offerings before deciding.
- Warranty: A high-quality company rises above other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Installation Process: An important thing to understand when adopting solar energy is the installation process itself. Be sure to clarify any details you need to know with your solar installer, such as what permits you should acquire and how long the project will take.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
EcoWatch's Mount Vernon, IL Solar Cost FAQs
What is the average cost of installing solar panels in Mount Vernon?
This is a difficult question to answer exactly, because the cost depends on many factors. Broadly speaking, it costs about $13,650 for a 5-kW system and $27,300 for a 10-kW system after the ITC is applied. It will be more expensive if you want additional solar equipment or higher quality panels, or if you have above-average energy consumption. Conversely, you can spend less if you opt for a smaller solar panel system or less efficient solar panels.
What other factors should I consider in addition to cost when buying solar panels?
Cost is a very important factor to consider, but whether it's the most important for you depends on your reasons for going solar. In cities where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to be mindful of are the quality and durability of your solar panels.
How will 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 Vernon is currently $93,700, which means you can look forward to a value of about $3,842 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Mount Vernon is a rewarding investment.
How long do solar panels last in Mount Vernon?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher amount of energy production.
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.