Solar Panel Cost Guide in Pinckneyville, IL (Mar 2023)
- Pinckneyville Solar Installation Cost: $11,619
- 25-Year Savings: $14,975
- Payback Period: 10.9 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Pinckneyville
Find out how much it might cost to install solar panels in Pinckneyville.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Pinckneyville, the typical cost of solar panels is 2.73 per watt. To account for the typical energy usage of the average home in Pinckneyville, most homeowners require a 6.1-kilowatt system. Using the per-watt figure above, a solar installation costs around $11,619, or $16,615 before the federal solar tax credit of 30% is applied.
These figures are just averages, and how much solar costs for you will vary based on your specific situation and what company you choose to go with. For most homeowners, the upfront cost of solar is worth paying. On average Pinckneyville homeowners see about $17,000 in savings on electricity bills over 20 years.
For a personalized quote from a local solar installer that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Pinckneyville
| Year | Return on Investment |
|---|---|
| 1 years | $-10,555 |
| 3 years | $-8,428 |
| 5 years | $-6,300 |
| 7 years | $-4,172 |
| 9 years | $-2,045 |
| 11 years | $83 |
| 13 years | $2,210 |
| 15 years | $4,338 |
| 17 years | $6,465 |
| 19 years | $8,593 |
| 21 years | $10,720 |
| 23 years | $12,848 |
| 25 years | $14,975 |
Top Solar Installers in Pinckneyville
Many homeowners choose to use a solar installation company since trying to put up solar panels by yourself can be challenging. Companies can also have access to a large variety of the best solar panels and help you decide which one will be best for you.
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 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 Pinckneyville
Factors that Affect Solar Panel Costs in Pinckneyville
For many Pinckneyville homeowners, the decision to go solar rests on cost. However, the range of solar installation costs can be quite wide in Pinckneyville, 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 cost of solar panels varies by thousands of dollars due to a variety of factors. One of the major factors is the system size, which is measured in kilowatts (kW). Solar power systems that have better efficiency or power generation require better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $2,730. The kind of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you get the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. However, higher efficiency could save you more in the long run on your electric bills. In addition, add-on products, such as solar batteries, can bring your total well above the Pinckneyville average.
Solar Financing Terms
Many homeowners find the average cost of solar in Pinckneyville to be too costly, even if the investment pays off over time. Thankfully, nearly every solar company in the area provides financing options. Solar loans substantially decrease upfront costs for most homeowners, but they also lead to paying more over time due to interest. When figuring out your overall cost, you should also calculate the interest you'll pay if you go with a solar loan. Also, paying more on your down payment can reduce the total interest paid over time.
Solar Panel Installation Company
Finally, the company you hire to install your solar panels can influence your pricing. Pinckneyville'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 offering sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or extra services like electric vehicle charger installation, they might be cheaper overall.
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 | $14,301 | 11.4 years |
| 8 kW | $2.78 | $15,594 | $19,373 | 11.1 years |
| 10 kW | $2.73 | $19,110 | $24,599 | 10.9 years |
| 12 kW | $2.68 | $22,473 | $29,977 | 10.7 years |
| 14 kW | $2.62 | $25,684 | $35,509 | 10.5 years |
| 16 kW | $2.57 | $28,741 | $41,193 | 10.3 years |
| 18 kW | $2.51 | $31,646 | $47,030 | 10.1 years |
| 20 kW | $2.46 | $34,398 | $53,020 | 9.8 years |
How to Save on Solar Panels
Since the brand of solar panels and the installation company you choose significantly 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:
- Solar Panel Brands: Not all solar companies offer the same brands of solar panels, so the brand and type of panel you want can play a substantial role in the company you choose.
- Reputation: Make sure your solar installer has a good reputation by confirming it has certifications and licenses, checking its work history and reading reviews by previous customers and solar experts like the EcoWatch team.
- Warranty: If you care about the endurance of your solar system, checking if your installer offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Contract: It's important to read your solar installer's contract fully to understand what services they will provide, what the warranty covers and what you can expect about the project timeline.
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 Pinckneyville, IL Solar Cost FAQs
How much does it cost to install solar panels in Pinckneyville?
This is a tough question to answer precisely, because the cost depends on many 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. It will be more expensive if you want other solar equipment or higher quality panels, or if you have higher-than-average energy needs. On the flip side, you can spend less if you want a smaller solar panel system or cheaper solar panels.
Should I lease or buy solar panels in Pinckneyville?
Leasing solar panels can be an attractive choice, as it commonly comes with low or $0 upfront payments. The drawback is that you won't be able to save as much. If you lease, you don't own the system, so you can't claim any incentives and your home value won't increase. Buying solar panels is a better option if you want to maximize your savings.
How much can I save on electricity bills after switching to solar?
Solar panels can potentially eliminate your electricity bills depending on where you're located and how much sunlight your home gets. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $874.18 per year.
How long do solar panels last in Pinckneyville?
Although 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 how much energy they produce will have decreased significantly after that point. You can decide 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.