Solar Panel Cost Guide in Neoga, IL (2023 Update)
- Neoga Solar Installation Cost: $11,963
- 25-Year Savings: $13,278
- Payback Period: 11.8 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Neoga
See how much it might cost to install solar panels in Neoga.
In Neoga, solar panels cost about 2.73 per watt on average. The average solar panel system size in Neoga is around 6.3 kilowatts, meaning a cost of about $11,963 for a solar installation, or $17,107 before the 30% federal solar tax credit is applied.
These figures are only averages, and your own solar costs may look different based on factors unique to your home and what company you choose to go with. Even with the large upfront cost, the average Neoga homeowner can save around $15,000 on their energy 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 Neoga
| Year | Return on Investment |
|---|---|
| 1 years | $-10,953 |
| 3 years | $-8,934 |
| 5 years | $-6,915 |
| 7 years | $-4,895 |
| 9 years | $-2,876 |
| 11 years | $-857 |
| 13 years | $1,163 |
| 15 years | $3,182 |
| 17 years | $5,201 |
| 19 years | $7,220 |
| 21 years | $9,240 |
| 23 years | $11,259 |
| 25 years | $13,278 |
Top Solar Installers in Neoga
Many homeowners opt for a solar installer since trying to install solar panels yourself can be time-consuming. Companies can also have access to various kinds of the best solar panels and help you choose which one will be best for your family.
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 Neoga
Factors that Affect Solar Panel Costs in Neoga
Although the average cost of a solar system in Neoga is $11,963, your final cost may differ. There are several factors that can have a major impact on the cost of a solar panel installation. Below are some of the more crucial things to keep in mind.
Solar Equipment
When it comes to estimating the price of a solar system in Neoga, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are chiefly based on your home's energy consumption, which you can figure out by looking at past energy bills. Your total cost can increase by about $2,730 for each additional kilowatt you need. Some solar brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer higher efficiency. In a city like Neoga, where sunlight is relatively abundant, efficiency can quickly pay off. Plus, if you have a small roof or limited space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Most solar companies in Neoga provide solar loans, which reduce the initial cost of installing solar. When trying to figure out your overall cost, you should also calculate the interest you'll pay if you opt for a solar loan. Also, paying more on your down payment can lower the total interest paid over time.
Solar Panel Installation Company
A final factor to keep in mind when trying to estimate the cost of solar for your home or business in Neoga is the company you choose to install your solar system. Similar to choosing a company to renovate your kitchen, for instance, you'll have no shortage of solar installers that offer a range of services at different costs. You may notice national solar installers that have lower prices due to their larger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or specials 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 | $2.84 | $11,925 | $12,275 | 12.3 years |
| 8 kW | $2.78 | $15,594 | $16,673 | 12.1 years |
| 10 kW | $2.73 | $19,110 | $21,224 | 11.8 years |
| 12 kW | $2.68 | $22,473 | $25,927 | 11.6 years |
| 14 kW | $2.62 | $25,684 | $30,783 | 11.4 years |
| 16 kW | $2.57 | $28,741 | $35,792 | 11.1 years |
| 18 kW | $2.51 | $31,646 | $40,954 | 10.9 years |
| 20 kW | $2.46 | $34,398 | $46,269 | 10.7 years |
How to Save on Solar Panels
The solar company you opt for will impact not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are some important things you should take into account, including:
- Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and energy needs. Although there are many options for which brand of solar panel you can get, not every company will have access to the exact one you may want or need, so make sure you peruse their list of options before deciding.
- Contract: Read the contract terms carefully to make sure you understand the cost breakdown, project timeline rebates and warranties.
- Installation Process: Make sure you're on the same page with the installer regarding how the installation process will go and what you need to do before your solar panel system is installed, such as repairing your electrical system or roof.
- Reputation: Make sure your solar system installer has a good reputation by verifying it has certifications and licenses, checking how long it's been in business and reading reviews by previous customers and solar experts like the EcoWatch team.
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 Neoga, IL Solar Cost FAQs
How much does it cost to install solar panels in Neoga?
The average cost of solar panels in Neoga is about $13,650 for a 5-kW system and $27,300 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 use.
Is cost the most important consideration when buying solar panels?
The initial cost is a key factor to consider, but whether it's the most important for you depends on your reasons for going solar. In places where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to think about are the quality and durability of your solar panels.
Does Neoga have a net metering program?
Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just give you credit toward your future power bills.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy usage and the average daily sunlight your roof gets. You can look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to get between 20 and 35 panels to account for their typical energy usage.
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.