Solar Panel Cost Guide in O'Fallon, IL (2024 Update)
- O'Fallon Solar Installation Cost: $16,000
- 25-Year Savings: $11,532
- Payback Period: 17.3 Years
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Average Cost of Solar Panels in O'Fallon
Let’s take a look at the average cost of solar panels in O'Fallon.
While the national average of solar panels is $2.66 per watt, solar panels in O'Fallon generally cost around 4.Because a 6.1-kW system is needed to cover the energy consumption of a typical home in O'Fallon, the average price of going solar will be about $16,000 after claiming the federal solar tax credit of 0.
The prices above are just estimates to give you an idea of how much solar panels could cost. The actual cost of going solar can vary based on a few factors, such as what size system you need, your energy consumption and what installation company you go with.But, once you've paid the upfront cost of installation, the savings for most homeowners is usually good, with a net average savings of about $14,000 over 20 years on electricity bills.
You can click the button below to get connected with a pre-vetted solar company in O'Fallon that can help you get a more accurate cost estimate for your home.
Solar savings over time in O'Fallon
| Year | Return on Investment |
|---|---|
| 1 years | $-15,149 |
| 3 years | $-13,448 |
| 5 years | $-11,746 |
| 7 years | $-10,045 |
| 9 years | $-8,344 |
| 11 years | $-6,643 |
| 13 years | $-4,941 |
| 15 years | $-3,240 |
| 17 years | $-1,539 |
| 19 years | $163 |
| 21 years | $1,864 |
| 23 years | $3,565 |
| 25 years | $5,267 |
Top Solar Installers in O'Fallon
Do-it-yourself solar panel installation is a possibility, but it's an undertaking that can use up a lot of your time and energy. Going with an installer can make converting to solar power much easier. The expertise that solar companies offer can be useful as well, especially if you aren’t sure what kind of solar equipment you need.
If you're searching for a solar company in O'Fallon, we've organized a list of our top suggestions here:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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 O'Fallon
Factors that Affect Solar Panel Costs in O'Fallon
For many O'Fallon homeowners, the decision to adopt solar energy rests on cost. However, the range of solar installation costs can be quite wide in O'Fallon, with typical prices between $20,000 to $40,000. There are various factors that greatly influence the price you’ll pay, which we'll go over below.
Solar Equipment
The size of the solar system you need to offset your energy usage, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by around $3,760. The kind of solar panels and equipment you choose is another factor that will greatly affect costs. Solar panels that are more efficient, like monocrystalline panels, tend to cost more. Moreover, solar equipment is more than just the solar panels themselves. You’ll also need to make decisions about the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when researching a solar system that’s in your budget.
Solar Financing Terms
Solar panels can save you money on power bills over many years, but they can also be a significant investment. That’s why many O'Fallon homeowners opt to finance their solar panel systems to make paying for solar more affordable.You’ll have to consider the long-term cost of loans, including the total interest you’ll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or securing a solar loan with a low APR could reduce your costs considerably.
Solar Panel Installation Company
Lastly, the company you choose to install your solar panels can play a part in determining the cost. O'Fallon’s solar companies all have different labor costs and add varying upcharges to equipment. The size of the company sometimes plays the most considerable role in the cost of installation. Larger national companies, like SunPro and Sunrun, often have lower pricing because they have greater resources and better pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or discount can bring their pricing down to compete with bigger names.
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 | $6,425 | 18.0 years |
| 8 kW | $3.84 | $21,477 | $8,988 | 17.6 years |
| 10 kW | $3.76 | $26,320 | $11,761 | 17.3 years |
| 12 kW | $3.68 | $30,952 | $14,745 | 16.9 years |
| 14 kW | $3.61 | $35,374 | $17,939 | 16.6 years |
| 16 kW | $3.53 | $39,585 | $21,344 | 16.2 years |
| 18 kW | $3.46 | $43,586 | $24,960 | 15.9 years |
| 20 kW | $3.38 | $47,376 | $28,786 | 15.6 years |
How to Save on Solar Panels
There are many companies available in O'Fallon, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be tough, so here are some tips to help you decide:
- Installation Process: When making the switch to solar power, it’s important to keep an open line of communication with your solar company. Make sure you understand how the installation process will go and the completion timeline.
- Warranty: If you care about the durability of your solar system, checking if your company offers a 25-year, all-inclusive warranty can help put you at ease.
- Contract: It’s important to read your solar installer’s contract well to understand what services they will provide, what the warranty covers and what expectations you should have about your solar system’s energy production.
- Solar Panel Brands: The brand of solar panel you want plays a role in which installer you should choose, since different companies offer different panels.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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 O'Fallon, IL Solar Cost FAQs
What is the average cost of installing solar panels in O'Fallon?
The average cost of solar panels in O'Fallon is about $18,800 for a 5-kW system and $37,600 for a 10-kW system before the ITC, but the actual cost will depend on certain factors such as the type of solar panels you want, what size system you need and how much energy you consume.
Are solar panels free in O'Fallon?
You can’t get solar panels for free in O'Fallon. However, you may still be able to afford them on a lower budget. You can lease solar panels for a low upfront cost or, if you’d prefer to own your solar panels, you can finance them with a solar loan.
Is it worth going solar in O'Fallon?
Whether or not solar panels are worth it depends on a variety of factors like the cost of electricity near you and the amount of direct sunlight your roof gets.
How long do solar panels last in O'Fallon?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is their energy production will have decreased significantly after that point. You can opt 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.