Solar Panel Cost Guide in Peoria Heights, IL (2023 Update)
- Peoria Heights Solar Installation Cost: $12,173
- 25-Year Savings: $7,657
- Payback Period: 15.4 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Peoria Heights
Let's take a look at the average cost of solar panels in Peoria Heights.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Peoria Heights, the typical cost of solar panels is 2.73 per watt. The average solar panel system size in Peoria Heights is around 6.4 kilowatts, meaning a cost of about $12,173 for a solar installation, or $17,407 before the 30% federal solar tax credit is applied.
Bear in mind that the figures above are only estimates based on the average energy use of Peoria Heights homeowners. The price of a solar system for your home may look different depending on factors unique to your situation, like your household energy use and solar contractor. With typical savings of about $12,000 on energy bills over 20 years, many homeowners in Peoria Heights find going solar has a decent ROI.
To receive a free quote from a top solar installer in Peoria Heights, you can click the button below.
Solar savings over time in Peoria Heights
| Year | Return on Investment |
|---|---|
| 1 years | $-11,380 |
| 3 years | $-9,793 |
| 5 years | $-8,207 |
| 7 years | $-6,621 |
| 9 years | $-5,034 |
| 11 years | $-3,448 |
| 13 years | $-1,861 |
| 15 years | $-275 |
| 17 years | $1,312 |
| 19 years | $2,898 |
| 21 years | $4,484 |
| 23 years | $6,071 |
| 25 years | $7,657 |
Top Solar Installers in Peoria Heights
Many homeowners decide to hire a solar installer since installing solar panels on your own can be hard. The expertise that solar companies provide can be helpful as well, especially if you aren't sure what brand of solar equipment would be right for your home.
If you'd like to start using solar energy but still aren't certain which solar panel company to go with, here are our suggestions for providers near you:
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 Peoria Heights
Factors that Affect Solar Panel Costs in Peoria Heights
The cost of installing a solar system in Peoria Heights can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The largest one is your system size, and other factors include the equipment you choose, financing options and the solar installer you choose.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more power your household consumes, the larger your system will likely need to be. You can expect to spend around $2,730 per kilowatt in Peoria Heights. There are several different solar panel brands and the one you pick also changes the cost. In general, the brands that offer higher efficiency tend to also cost more. Plus, the type of equipment you're looking to install can affect your total cost. If you just need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Many homeowners find the average cost of solar in Peoria Heights to be prohibitively expensive, even if the investment pays off over time. Thankfully, almost every solar company in the area provides access to financing options. Solar loans remarkably decrease upfront costs for most homeowners, but they also lead to higher prices over time because of interest. When trying to figure out your overall cost, you should also calculate the interest you'll pay if you decide on a solar loan. Also, paying a higher down payment can lower the total interest paid over time.
Solar Panel Installation Company
The solar installer you choose will impact your total cost to go solar. Different companies will charge different amounts for the equipment and labor. 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 at a higher cost. It's best to do some research and find a company that offers the products, warranties and services you're looking for and also fit into 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 | $6,745 | 16.0 years |
| 8 kW | $2.78 | $15,594 | $9,299 | 15.7 years |
| 10 kW | $2.73 | $19,110 | $12,006 | 15.4 years |
| 12 kW | $2.68 | $22,473 | $14,866 | 15.0 years |
| 14 kW | $2.62 | $25,684 | $17,879 | 14.7 years |
| 16 kW | $2.57 | $28,741 | $21,044 | 14.4 years |
| 18 kW | $2.51 | $31,646 | $24,363 | 14.1 years |
| 20 kW | $2.46 | $34,398 | $27,834 | 13.8 years |
How to Save on Solar Panels
There are a large number of companies to choose from in Peoria Heights, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be challenging, so here are some tips to help you decide:
- Reputation: Solar system installers that have great reviews from their customers and that have been in business for many years in most cases offer high-quality solar panel installation and expertise.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their roof configurations and how much efficiency they need. Although there are many options for which kind of solar panel you can get, not every company will have the exact one you may want or need, so be sure to take a look at their list of options before making your decision.
- Contract: Before signing a contract with a solar installer, be sure to read it through fully so you understand the terms. Also, ask questions if you're unsure about some of the terms, such as what to do if a component breaks or malfunctions and what services you can expect from them.
- Installation Process: Make sure you're aligned with the company with regard to how the installation process will go and what needs to be done before your solar panels are installed, such as updating or replacing your electrical system or roof.
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 Peoria Heights, IL Solar Cost FAQs
How much does it cost to install solar panels in Peoria Heights?
This is a difficult question to answer exactly, because the cost depends on a variety of factors. Generally 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 additional solar equipment or higher quality panels, or if you have higher-than-average energy usage. On the flip side, you can spend less if you want a smaller solar panel system or cheaper solar panels.
What other factors should I consider other than cost when buying solar panels?
Cost is without a doubt one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Is switching to solar power worth it?
Whether or not solar panels are worth it depends on a variety of factors like how much you pay for electricity and the amount of direct sunlight your roof gets.
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 should be disposed of at that time. What this means is their energy production will have decreased significantly after that point. You can choose to replace them once you've had 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.