Solar Panel Cost Guide in Pinckneyville, IL (2023 Update)
- Pinckneyville Solar Installation Cost: $11,627
- 25-Year Savings: $14,967
- Payback Period: 10.9 Years
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Updated September 15, 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.
In Pinckneyville, solar panels cost about 2.73 per watt on average. The average Pinckneyville homeowner needs a 6.1-kilowatt system, which would cost about $11,619 with the federal tax credit, or $16,615 before the 30% tax credit is applied.
How much you pay can be higher or lower than the average in Pinckneyville depending on a variety of factors, such as the type of solar panels you choose and the solar company you hire. Many homeowners find going solar is a sound investment. The average homeowner in Pinckneyville can save around $17,000 on their power bills over 20 years.
To calculate your potential savings and connect with a local solar expert, click the button below.
Solar savings over time in Pinckneyville
| Year | Return on Investment |
|---|---|
| 1 years | $-11,539 |
| 3 years | $-11,361 |
| 5 years | $-11,184 |
| 7 years | $-11,007 |
| 9 years | $-10,829 |
| 11 years | $-10,652 |
| 13 years | $-10,475 |
| 15 years | $-10,297 |
| 17 years | $-10,120 |
| 19 years | $-9,943 |
| 21 years | $-9,766 |
| 23 years | $-9,588 |
| 25 years | $-9,411 |
Top Solar Installers in Pinckneyville
Many homeowners opt for a solar installer since trying to install solar panels by yourself can be time-consuming. The expertise that solar installers offer can be useful as well, especially if you don't quite know what kind of solar equipment would be right for your home.
Working with a professional solar installer can help your solar project go smoothly. Here are our recommendations:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
See all of the solar companies in Pinckneyville
Factors that Affect Solar Panel Costs in Pinckneyville
Cost is usually one of the most important factors for homeowners wanting to invest in solar. There are a few primary factors that will push your cost above or below the average in Pinckneyville: solar equipment and system size, financing options and the solar installation company you choose. We'll cover each of these briefly below.
Solar Equipment
When it comes to estimating the price of a solar system in Pinckneyville, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home's energy usage, which you can determine by looking at past energy bills. Your total cost can increase by about $2,730 for each additional kilowatt you need. There are many different solar panel brands and the one you choose also changes the cost. In general, the brands that are more efficient tend to also be more expensive. Plus, the type of equipment you choose can affect your total cost. If you only need panels, your system will be much 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 Pinckneyville to be too expensive, even if the investment pays off over time. Fortunately, nearly every solar installer in the area offers financing options. Solar loans remarkably decrease upfront costs in most cases, but they also result in paying more over time because of interest. It's wise to factor the interest you'll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and how long it'll take to pay back the loan.
Solar Panel Installation Company
The solar company you go with to handle your switch to clean energy can have an effect on your total costs. There are about 3 solar panel companies in Pinckneyville, and each can charge varying amounts for labor and 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 specific equipment options like Tesla Powerwall batteries or add-on services like electric car 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
The solar company you go with will be a major factor in determining not only your total costs, but also the types of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are several important things you should keep in mind, including:
- Warranty: Warranties that cover defective panels and repairs over around 25 years are the best you can get in the business, and offering such a warranty is one indication of a good company.
- Solar Panel Brands: The kind of solar panel you want to get plays a role in which company you should go with, since different companies provide different panels.
- Reputation: Make sure your solar company has a good reputation by verifying it has certifications and licenses, checking how long it's been in business and reading reviews by past customers and solar experts like EcoWatch.
- Contract: It's important to look over your solar installer's contract fully to understand what services they will provide, what the warranty covers and what expectations you should have about your solar system's energy production.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Pinckneyville, IL Solar Cost FAQs
What is the average cost of installing solar panels in Pinckneyville?
This is a tough 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. It will cost more if you want additional solar equipment or higher quality panels, or if you have above-average energy usage. Conversely, you can spend less if you choose a smaller solar panel system or less expensive solar panels.
Is it better to lease or buy solar panels in Pinckneyville?
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 can't take advantage of 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 financial benefits from going solar.
How will installing solar panels impact how much my home is worth?
Solar panels can increase your home value considerably as long as you buy or finance your panels and don't opt for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% with a solar installation."
How often do you have to replace solar panels?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher amount of energy production.
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.