Solar Panel Cost Guide in Ofallon, IL (Mar 2023)
- Ofallon Solar Installation Cost: $11,619
- 25-Year Savings: $11,530
- Payback Period: 12.5 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Ofallon
Find out what the average cost of installing solar panels is in Ofallon.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Ofallon, the average cost of a solar system is 2.73 per watt. Using this figure, a typical 6.1-kW system would cost about $11,619 before the 30% federal solar tax credit is applied.
Keep in mind that the figures above are only estimates based on the average energy use of Ofallon 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. With typical savings of about $14,000 on electricity bills over 20 years, many homeowners in Ofallon find going solar can pay off big.
You can click the button below to get connected with a vetted solar company in Ofallon for a quote for your home.
Solar savings over time in Ofallon
| Year | Return on Investment |
|---|---|
| 1 years | $-10,693 |
| 3 years | $-8,841 |
| 5 years | $-6,989 |
| 7 years | $-5,137 |
| 9 years | $-3,285 |
| 11 years | $-1,433 |
| 13 years | $419 |
| 15 years | $2,271 |
| 17 years | $4,123 |
| 19 years | $5,975 |
| 21 years | $7,826 |
| 23 years | $9,678 |
| 25 years | $11,530 |
Top Solar Installers in Ofallon
Although it's possible to install solar panels on your own, it takes extra energy and knowledge. That's why the majority of homeowners choose a solar panel installer. Companies can also have access to quality options of the best solar panels and help you choose which one will be right for your home.
If you're on the hunt for a solar company in Ofallon, we've compiled a list of our top suggestions here:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
See all of the solar companies in Ofallon
Factors that Affect Solar Panel Costs in Ofallon
There are a number of criteria that can affect your total installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar panels.
Solar Equipment
When it comes to estimating the price of a solar system in Ofallon, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are mainly based on your home's energy usage, which you can determine by looking at past energy bills. Your overall cost can increase by around $2,730 for each additional kilowatt you need. The solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you choose the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. On the other hand, higher efficiency could save you more over time on your electric bills. In addition, add-on products, such as solar batteries, can bump up your total well above the Ofallon average.
Solar Financing Terms
If paying for a solar system in cash is too expensive, solar loans are a popular option because they decrease your upfront costs and let you pay for your system over a term of, on average, between five and seven years. While solar loans make switching to solar energy more accessible for Ofallon homeowners, they can also add to the total you pay for your system due to interest. If you put down a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The solar installation company you pick will impact your total cost to make the switch to solar power. Different companies will charge different amounts for the equipment and labor. 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 decide on the 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 | $10,924 | 13.0 years |
| 8 kW | $2.78 | $15,594 | $14,871 | 12.8 years |
| 10 kW | $2.73 | $19,110 | $18,971 | 12.5 years |
| 12 kW | $2.68 | $22,473 | $23,224 | 12.3 years |
| 14 kW | $2.62 | $25,684 | $27,630 | 12.0 years |
| 16 kW | $2.57 | $28,741 | $32,188 | 11.8 years |
| 18 kW | $2.51 | $31,646 | $36,900 | 11.5 years |
| 20 kW | $2.46 | $34,398 | $41,764 | 11.3 years |
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands available to you, 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:
- Reputation: Solar panel companies that have great reviews from their customers and that have been operating for many years in most cases provide quality solar panel installation and expertise.
- Solar Panel Brands: Not all solar companies offer the same brands of solar panels, so the brand and type of panel you want can play a substantial role in the company you hire.
- Contract: When looking through 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 such as a system component breaking or the company going out of business.
- Warranty: Warranties that cover defective panels and repairs over a couple decades are the best you can get in the business, and offering that kind of warranty is one indication of a quality company.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
EcoWatch's Ofallon, IL Solar Cost FAQs
What is the average cost of installing solar panels in Ofallon?
The average cost of solar panels in Ofallon 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 kind of solar panels you want, what size system you need and how much energy you consume.
Is cost the most important consideration when buying solar panels?
Cost is definitely one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
How much can I save on power bills after switching to solar?
Solar panels can potentially eliminate your electricity bills depending on your location and how much sunlight your home gets. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $761.62 per year.
How many solar panels do I need to power my home?
The exact number of solar panels you need depends on your household energy consumption and the average daily sunlight your roof gets. You can take a 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 buy between 20 and 35 panels to cover 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.