Solar Panel Cost Guide in Pin Oak, IL (Mar 2023)
- Pin Oak Solar Installation Cost: $11,695
- 25-Year Savings: $12,531
- Payback Period: 12.1 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Pin Oak
We break down average solar pricing in Pin Oak.
The national average cost of solar panels is $2.66 per watt, but in Pin Oak it's 2.73 per watt. To account for the typical energy usage of the average home in Pin Oak, most homeowners require a 6.1-kilowatt system. Using the figure above, a solar installation costs about $11,695, or $16,724 before the federal solar tax credit of 30% is applied.
Remember that the numbers above are only averages. The price you'll pay for solar may look quite different based on your household energy needs, the type of equipment you want, your solar contractor and more. Many homeowners find going solar is a fruitful investment. The average homeowner in Pin Oak can save about $15,000 on their power bills over 20 years.
To see your potential ROI and connect with a local solar expert, click the button below.
Solar savings over time in Pin Oak
| Year | Return on Investment |
|---|---|
| 1 years | $-10,726 |
| 3 years | $-8,788 |
| 5 years | $-6,850 |
| 7 years | $-4,912 |
| 9 years | $-2,974 |
| 11 years | $-1,036 |
| 13 years | $902 |
| 15 years | $2,840 |
| 17 years | $4,779 |
| 19 years | $6,717 |
| 21 years | $8,655 |
| 23 years | $10,593 |
| 25 years | $12,531 |
Top Solar Installers in Pin Oak
Many homeowners opt for a solar panel installer since trying to install solar panels on your own can be time-consuming. Companies can also offer access to a large variety of the best solar panels and help you choose which one will be right for your family.
You can work with a local solar installer to get a free quote on how much solar panels could cost for your home. Here are some nearby:
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 Pin Oak
Factors that Affect Solar Panel Costs in Pin Oak
For many Pin Oak homeowners, the decision to install solar panels comes down to cost. However, the range of solar installation costs can be quite wide in Pin Oak, with typical prices between $20,000 to $40,000. There are several factors that greatly influence the price you'll pay, which we'll go over below.
Solar Equipment
One of the most important factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more energy your household uses, the larger your system will likely need to be. You can expect to pay about $2,730 per kilowatt in Pin Oak. The kind of solar panels and equipment you choose is another factor that will substantially impact costs. Solar panels that are more efficient, like monocrystalline panels, tend to be more costly. Moreover, solar equipment goes beyond just the solar panels themselves. You'll also need to consider the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when looking into a solar system that falls within your budget.
Solar Financing Terms
Many homeowners find the average cost of solar in Pin Oak to be prohibitively expensive, even if the investment pays off over time. Fortunately, almost every solar company in the area offers financing options. Solar loans remarkably decrease upfront costs in most cases, but they also result in paying more over time due to interest. When figuring 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 reduce the total interest paid over time.
Solar Panel Installation Company
The solar installer you select will affect your total cost to adopt solar power. Different companies will bill different amounts for the equipment and labor. You may see national solar installers that have lower prices due to their bigger brand name and access to bulk equipment prices, or you might see small, local installation companies offering deals or promotions to compete with those major players.
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 | $11,837 | 12.5 years |
| 8 kW | $2.78 | $15,594 | $16,088 | 12.3 years |
| 10 kW | $2.73 | $19,110 | $20,492 | 12.1 years |
| 12 kW | $2.68 | $22,473 | $25,049 | 11.8 years |
| 14 kW | $2.62 | $25,684 | $29,759 | 11.6 years |
| 16 kW | $2.57 | $28,741 | $34,622 | 11.3 years |
| 18 kW | $2.51 | $31,646 | $39,637 | 11.1 years |
| 20 kW | $2.46 | $34,398 | $44,806 | 10.9 years |
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because choosing a company can be a challenge, we have some tips to help you, such as:
- Warranty: A high-quality company rises above other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a solid reputation and is qualified to get the job done well. Another way you can verify your installer's reputation is by reading reviews.
- Contract: When looking over your solar company's contract, ask questions about any terms you're not sure of and be sure you understand what happens in scenarios like a system component breaking or if the company goes out of business.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their roof configurations and energy needs. Even though 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 make sure you take a look at their list of offerings before deciding.
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 Pin Oak, IL Solar Cost FAQs
How much does it cost to install solar panels in Pin Oak?
The average cost of solar panels in Pin Oak is about $13,650 for a 5-kW system and $27,300 for a 10-kW system before the ITC, but the real cost will depend on certain factors like the type of solar panels you want, what size system you need and how much energy you consume.
What other factors should I consider other than cost when buying solar panels?
The initial cost is a key factor to consider, but whether it's the most important for you depends on your reasons for going solar. In cities where rooftop space is limited, efficiency can trump the cost. Other factors that are important to be mindful of are the quality and durability of your solar panels.
Is making the switch to solar worth it?
Whether or not solar panels are worth it depends on a variety of factors like the cost of electricity near you and how much direct sunlight your roof gets.
How long do solar panels last in Pin Oak?
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 how much energy they produce 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.