Solar Panel Cost Guide in Peoria, IL (2025 Update)
- Peoria Solar Installation Cost: $16,798
- 25-Year Savings: $7,634
- Payback Period: 21.2 Years
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Average Cost of Solar Panels in Peoria
We go over average solar pricing in Peoria.
The average cost of a solar panel system in Peoria is 4 per watt.Since a 6.4-kW system is needed to cover the energy consumption of a typical home in Peoria, the average price of going solar will be about $16,798 after claiming the federal solar tax credit of 0.
The prices above are just estimates to give you an idea of the cost of a solar panel system. The actual cost of installing solar panels can vary based on a few factors, such as what size system you need, your energy usage and what solar installer you go with.Many homeowners find installing a solar system is a rewarding investment. The average homeowner in Peoria can save about $12,000 on their power bills over 20 years.
To see your potential ROI and connect with a local solar installer, click the button below.
Solar savings over time in Peoria
| Year | Return on Investment |
|---|---|
| 1 years | $-15,947 |
| 3 years | $-14,246 |
| 5 years | $-12,545 |
| 7 years | $-10,844 |
| 9 years | $-9,142 |
| 11 years | $-7,441 |
| 13 years | $-5,740 |
| 15 years | $-4,038 |
| 17 years | $-2,337 |
| 19 years | $-636 |
| 21 years | $1,065 |
| 23 years | $2,767 |
| 25 years | $4,468 |
Top Solar Installers in Peoria
Although you can install solar panels yourself, it takes extra energy and knowledge. That's why the majority of homeowners choose to hire a solar panel installer. Solar installers offer key benefits that can help you get the most out of your investment, like warranties, monitoring and free repairs.
If you’d like to make the switch to solar but still aren’t certain which solar panel company to go with, here are our suggestions for providers nearby:
See all of the solar companies in Peoria
Factors that Affect Solar Panel Costs in Peoria
The cost of installing a solar system in Peoria can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The biggest one is your system size, and other factors include the equipment you choose, financing options and the solar installer you choose.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of installing solar panels. That’s why it’s important to accurately ascertain the size of the solar energy system needed for your home by figuring out your typical energy use.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 opt for 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, more efficient panels could save you more in the long run on your electric bills. Additionally, add-on products, such as solar batteries, can bring your total well above the Peoria average.
Solar Financing Terms
If paying for solar panels in cash is out of reach, solar loans are a popular choice because they reduce your upfront costs and let you pay for your system over five to seven years on average.You’ll have to consider the long-term cost of financing options, including the amount of interest you’ll pay over the length of the loan. If you’re only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the original cost. Making a larger down payment or securing a solar loan with a low APR could reduce your costs significantly.
Solar Panel Installation Company
The solar installer you hire to handle your switch to solar energy can play a part in your total costs. There are about 3 solar installation companies in Peoria, and each can charge different amounts for labor and equipment.Some companies only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come with an above-average cost. It’s best to do some research and go with the company that offers the products, warranties and services you’re looking for and also is 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 | $3.91 | $16,424 | $2,219 | 22.0 years |
| 8 kW | $3.84 | $21,477 | $3,379 | 21.6 years |
| 10 kW | $3.76 | $26,320 | $4,751 | 21.2 years |
| 12 kW | $3.68 | $30,952 | $6,332 | 20.8 years |
| 14 kW | $3.61 | $35,374 | $8,125 | 20.3 years |
| 16 kW | $3.53 | $39,585 | $10,128 | 19.9 years |
| 18 kW | $3.46 | $43,586 | $12,341 | 19.5 years |
| 20 kW | $3.38 | $47,376 | $14,765 | 19.1 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you select the right company for you, here are some tips to keep in mind:
- Solar Panel Brands: The type of solar panel you need plays a part in which company you should opt for, since different companies have access to different panels.
- Contract: Before you sign a contract with a solar installer, make sure to look it over fully so you understand the terms. Also, ask questions if you’re not sure about some of the terms, such as what the warranty covers and what services you can expect from them.
- Warranty: An all-inclusive, long-term warranty can help keep your solar panels running smoothly and save you money on repairs and maintenance.
- Reputation: Your solar installer should have a solid reputation as a company and have demonstrated expertise in the field. Two 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 previous customers.
EcoWatch's Peoria, IL Solar Cost FAQs
How much does it cost to install solar panels in Peoria?
This is a hard question to answer precisely, because the cost depends on a few different factors. Broadly speaking, it costs about $18,800 for a 5-kW system and $37,600 for a 10-kW system after the ITC is applied. It will cost more if you want additional solar equipment or higher quality panels, or if you have higher-than-average energy usage. On the other hand, you can spend less if you want a smaller solar panel system or cheaper solar panels.
Are solar panels free in Peoria?
A solar panel system isn’t free in Peoria, but there are some options that can make getting them more affordable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can help lower the cost.
Can solar panels significantly reduce my power bills?
It is possible to erase your electricity bills with solar panels, but for most homeowners throughout Peoria, that will require at least a 10-kW system. Not all homes can accommodate that size system, so you’ll want to contact a local solar installer to see how many panels can fit on your roof.
What solar power system size is right for my home?
To figure out what solar panel system size you need, you should find out how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can generally produce about 250 to 400 watt-hours per hour, the average house will need 20 to 35 panels.
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.