Solar Panel Cost Guide in Owen, IL (2025 Update)

  • Owen Solar Installation Cost: $17,167
  • 25-Year Savings: $13,482
  • Payback Period: 16.5 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated January 24, 2025

Why you can trust EcoWatch

We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Owen

Let’s take a look at the average cost of solar in Owen.

In Owen, solar panels cost about 4 per watt on average.Because a 6.5-kW system is needed to cover the energy consumption of a typical home in Owen, the average price of going solar will be about $17,167 after claiming the federal solar tax credit of 0.

The actual price you pay can be higher or lower than the average in Owen depending on a few factors, such as the model of solar panels you choose and the solar installer you hire.Despite the large initial cost, the average Owen homeowner can save about $15,000 on their electricity bills over 20 years, which is one of the benefits of solar.

To get a free quote from a top solar installer in Owen, you can click the button below.

Solar savings over time in Owen

YearReturn on Investment
1 years$-16,011
3 years$-13,698
5 years$-11,386
7 years$-9,074
9 years$-6,761
11 years$-4,449
13 years$-2,137
15 years$176
17 years$2,488
19 years$4,801
21 years$7,113
23 years$9,425
25 years$11,738

Top Solar Installers in Owen

When making the switch to solar, many homeowners decide to hire a solar installer since installing a solar system yourself can be a challenging project. Another good thing about going with a vetted solar installer is that it'll provide warranties and free repairs, which help protect your solar investment.

There are several licensed solar professionals that can install solar panels for you. Here are our suggestions:

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Best Solar Financing

Blue Raven Solar

★★★★★
4.5
  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries

Best for Leasing

Sunrun

★★★★★
4.0
  • 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 Owen

Factors that Affect Solar Panel Costs in Owen

Cost is often one of the most important factors for homeowners considering investing in solar. There are a few key factors that determine your overall cost in Owen: solar equipment and system size, financing options and the solar installation company you choose. We’ll discuss each of these briefly below.

Solar Equipment

The size of the solar panel system you need, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by about $3,760. The brand and type of equipment you want for your solar system can increase or decrease the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these are often more expensive than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have a small roof or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to greater savings over time. Plus, if you want extra equipment like an electric vehicle charger or solar batteries, this will also raise the cost.

Solar Financing Terms

Many homeowners find the average cost of solar in Owen to be too costly, even if the investment pays off over time. Fortunately, nearly every solar installer in the area offers financing options. Solar loans drastically decrease upfront costs for most homeowners, but they also lead to a higher cost over time because of interest.However, the interest on solar loans also adds to your all-in costs, so it’s important to take that into consideration as well. You can always bring down the total you pay in interest and in some cases even your APR by making a larger down payment.

Solar Panel Installation Company

Lastly, the company you opt for to install your solar system can affect your pricing. Owen’s solar companies all have different labor costs and add varying upcharges to equipment. Larger national companies generally have lower costs, but some local companies undercut them by promoting sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or add-on services like electric vehicle charger installation, they might be cheaper overall.

Solar Panel Cost Data by System Size

System sizeCost per system wattSolar system cost25-Year savingsPayback period
6 kW$3.91$16,424$7,44417.2 years
8 kW$3.84$21,477$10,34716.9 years
10 kW$3.76$26,320$13,46016.5 years
12 kW$3.68$30,952$16,78416.2 years
14 kW$3.61$35,374$20,31815.9 years
16 kW$3.53$39,585$24,06315.5 years
18 kW$3.46$43,586$28,01815.2 years
20 kW$3.38$47,376$32,18414.9 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: It’s important to read your solar installer’s contract carefully to understand what services they will provide, what the warranty covers and what you can expect about the installation process.
  • Installation Process: Get details from your solar company about the installation process and what to expect, such as when the site survey will be done and how long it will take.
  • Reputation: Make sure your solar company has a good reputation by confirming it has certifications and licenses, checking its number of years in business and reading reviews by past customers and solar experts like the EcoWatch team.
  • Warranty: An all-inclusive, 25-year warranty can help keep your solar system running for years to come and save you money on repairs and maintenance.
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Best Solar Financing

Blue Raven Solar

★★★★★
4.5
  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries

Best for Leasing

Sunrun

★★★★★
4.0
  • Expansive service area
  • Many financing options
  • Some reported issues with customer service
  • Some reported issues with door-to-door sales

EcoWatch's Owen, IL Solar Cost FAQs

What is the average cost of installing solar panels in Owen?

The average cost of solar panels in Owen 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 things such as the kind of solar panels you want, what size system you need and how much energy you consume.

Is it better to lease or buy solar panels in Owen?

Leasing solar panels can be an option if you can’t afford to pay upfront or get a solar loan, but since you don’t own the system, you don’t have access to many solar incentives. Also your property value won’t increase, so you’ll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most savings from going solar.

How will solar panels impact my property 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 Owen is currently $207,380, so you can look forward to a value of about $8,503 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Owen is a fruitful investment.

How often do you have to replace solar panels?

Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is their energy production will have decreased significantly after that point. You can 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.