Solar Panel Cost Guide in O'Fallon, IL (2023 Update)
- O'Fallon Solar Installation Cost: $11,617
- 25-Year Savings: $11,532
- Payback Period: 12.5 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in O'Fallon
Find out how much it might cost to make the switch to solar in O'Fallon.
Currently, the national average cost of solar panels is $2.66 per watt. However, in O'Fallon, the average cost of solar panels is 2.73 per watt. To cover the typical energy usage of the average home in O'Fallon, most homeowners require a 6.1-kilowatt system. Using the figure above, a solar installation costs about $11,619, or $16,615 before the federal solar tax credit of 30% is applied.
Bear in mind that the figures above are only estimates based on the average O'Fallon homeowner. The cost 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. For most homeowners, the upfront investment in solar is worth paying. On average O'Fallon homeowners see about $14,000 in savings on electricity bills over 20 years.
To get a free quote from a top solar company in O'Fallon, you can click the button below.
Solar savings over time in O'Fallon
| Year | Return on Investment |
|---|---|
| 1 years | $-11,540 |
| 3 years | $-11,385 |
| 5 years | $-11,231 |
| 7 years | $-11,077 |
| 9 years | $-10,922 |
| 11 years | $-10,768 |
| 13 years | $-10,614 |
| 15 years | $-10,459 |
| 17 years | $-10,305 |
| 19 years | $-10,151 |
| 21 years | $-9,996 |
| 23 years | $-9,842 |
| 25 years | $-9,688 |
Top Solar Installers in O'Fallon
Although it's possible to install solar panels yourself, it involves extra labor and know-how. That's one of the reasons the majority of homeowners choose to hire a solar panel installer. Also, companies with an outstanding reputation that are more expensive upfront could actually save you money in the long term due to their warranties, repair services and expert design.
Working with a licensed solar company can help your solar project go smoothly. Here are our recommendations:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
See all of the solar companies in O'Fallon
Factors that Affect Solar Panel Costs in O'Fallon
There are many factors that can affect your installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that does the installation.
Solar Equipment
One of the most important factors to consider when it comes to the cost of adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household consumes, the larger your system will likely need to be. You can expect to pay about $2,730 per kilowatt in O'Fallon. The type of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you get the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. However, higher efficiency could save you more over time on your energy bills. Additionally, add-on products, such as solar batteries, can bump up your total well above the O'Fallon average.
Solar Financing Terms
Many homeowners find the average cost of solar in O'Fallon to be prohibitively expensive, even if the investment pays off over time. Thankfully, nearly every solar installer in the area provides financing options. Solar loans drastically decrease upfront costs for most homeowners, but they also result in a higher cost over time because of interest. It's wise to include the interest you'll pay in your final cost estimate. If you can afford to pay a higher down payment, you can reduce your total costs and how long it'll take to pay back the loan.
Solar Panel Installation Company
The final major cost factor you should take into consideration is the installer you choose. Given the booming popularity of sustainable energy solutions in O'Fallon, you'll have a great number of options to choose from, but each comes at varying price points for labor and equipment. Additionally, some companies in O'Fallon know more about local solar incentives and can help you take advantage of additional rebates or tax exemptions. Though, they may charge more for walking you through the whole process. Even if they cost more upfront, they could help you save more money in the long run.
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
Since the brand of solar panels and the installation company you choose greatly affects your costs and your system's durability and efficiency, it's important to select the right ones for you. Here are some things to keep in mind to help with your decision:
- Contract: Before signing a contract with a solar installer, be sure to look it over completely so you understand the terms. Also, ask questions if you aren't sure about some of the terms, such as what the warranty covers and if there are any guarantees about energy production.
- 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.
- Warranty: An all-inclusive, long-term warranty can help keep your solar panels running for a long time and save you money on repairs and maintenance.
- Reputation: Your solar installer should have a solid reputation as a company and have proven expertise in the field. A couple of 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 satisfied reviews from past customers.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's O'Fallon, IL Solar Cost FAQs
How much does it cost to install solar panels in O'Fallon?
This is a hard question to answer exactly, because the cost depends on a few different 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. You can expect to pay more if you want other solar equipment or more efficient panels, or if you have above-average energy consumption. Conversely, you can spend less if you go with a smaller solar panel system or less efficient solar panels.
Are solar panels free in O'Fallon?
Solar panels aren't free in O'Fallon, but there are some options that can make getting them more feasible, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that you can take advantage of.
How much can I save on power bills after switching to solar?
It is possible to eradicate your electricity bills with solar panels, but for most homeowners throughout O'Fallon, that will require at least a 10-kW system. Not all homes will have the roof space for that size system, so you'll want to check with a local solar installer to see how many panels can fit on your roof.
How long do solar panels last in O'Fallon?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is how much energy they produce will have decreased significantly after that point. You can decide to replace them after having them for that long or you can keep using them at a lower efficiency.
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.