Solar Panel Cost Guide in Pingree Grove, IL (Mar 2023)
- Pingree Grove Solar Installation Cost: $12,479
- 25-Year Savings: $10,133
- Payback Period: 13.8 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Pingree Grove
We break down average solar pricing in Pingree Grove.
The national average cost of solar panels is $2.66 per watt, but in Pingree Grove it's 2.73 per watt. Using this figure, a typical 6.5-kW system would cost about $12,479 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 Pingree Grove homeowners. The cost of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor. For many homeowners, the upfront investment in solar is worth paying. On average Pingree Grove homeowners see about $13,000 in savings on utility bills over 20 years.
Click the button below to get connected to a highly rated solar installer in Pingree Grove for a customized quote.
Solar savings over time in Pingree Grove
| Year | Return on Investment |
|---|---|
| 1 years | $-11,574 |
| 3 years | $-9,765 |
| 5 years | $-7,956 |
| 7 years | $-6,148 |
| 9 years | $-4,339 |
| 11 years | $-2,530 |
| 13 years | $-721 |
| 15 years | $1,088 |
| 17 years | $2,897 |
| 19 years | $4,706 |
| 21 years | $6,515 |
| 23 years | $8,324 |
| 25 years | $10,133 |
Top Solar Installers in Pingree Grove
DIY solar panel installation is a way to cut costs, but it's an undertaking that can be a pain. Taking advantage of an installer can make switching to solar power much easier. The expertise that solar companies offer can be useful as well, particularly if you don't quite know what brand of solar equipment would be right for your home.
If you're searching for a solar company in Pingree Grove, we've organized a list of our top suggestions here:
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 Pingree Grove
Factors that Affect Solar Panel Costs in Pingree Grove
The cost of installing a solar system in Pingree Grove 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 equipment choices, financing options and the solar company you choose.
Solar Equipment
When it comes to estimating the cost of a solar panel system in Pingree Grove, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are mainly based on your home's energy consumption, which you can gauge by looking at past electricity bills. Your total cost can increase by around $2,730 for each additional kilowatt you need. The brand and kind of equipment you get for your solar system can increase or decrease the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these are often more expensive than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have limited roof space or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to greater savings over time. Plus, if you want additional equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be difficult. Solar loans are offered by most installers in Pingree Grove, which can bring down, or in some cases completely eliminate, your upfront costs to make solar more affordable. However, the interest on solar loans also increases your total costs, so it's vital to include that in your estimate as well. You can always bring down the total you pay in interest and possibly even your APR by putting more money down.
Solar Panel Installation Company
The final major cost factor you should consider is the installer you choose. Given the booming popularity of green energy solutions in Pingree Grove, you'll have a great number of options to choose from, but each comes at different price points for labor and equipment. The company's size can sometimes play the most significant role in the installation costs. Larger national companies, like SunPro and Sunrun, often have lower pricing because of greater resources and better pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or promotion can bring their pricing lower to compete with bigger companies.
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 | $8,851 | 14.3 years |
| 8 kW | $2.78 | $15,594 | $12,107 | 14.1 years |
| 10 kW | $2.73 | $19,110 | $15,516 | 13.8 years |
| 12 kW | $2.68 | $22,473 | $19,077 | 13.5 years |
| 14 kW | $2.62 | $25,684 | $22,792 | 13.2 years |
| 16 kW | $2.57 | $28,741 | $26,660 | 13.0 years |
| 18 kW | $2.51 | $31,646 | $30,680 | 12.7 years |
| 20 kW | $2.46 | $34,398 | $34,853 | 12.4 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 decide on the right company for you, here are some tips to keep in mind:
- Solar Panel Brands: Each solar panel brand and type has varying levels of quality, durability and efficiency. They will come at different costs as well. The company you choose has an impact on which solar panel brands you have access to.
- Reputation: Long-running companies likely have a high reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide quality aftercare and customer support, such as part repairs and replacements.
- Contract: Review the contract terms closely to make sure you understand the overall cost, project timeline incentives and warranties.
- Installation Process: An important thing to understand when adopting solar power is the installation process itself. Be sure to align on any details you need to know with your solar installer, such as what permits you should acquire and how long the project will take.
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 Pingree Grove, IL Solar Cost FAQs
What is the average cost of installing solar panels in Pingree Grove?
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. You can expect to pay more if you want extra solar equipment or higher quality panels, or if you have above-average energy consumption. On the flip side, you can spend less if you choose a smaller solar panel system or less expensive solar panels.
Should I lease or buy solar panels in Pingree Grove?
Leasing solar panels can be an attractive choice, because 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 get the most savings.
Is switching to solar power worth it?
Whether or not solar panels are worth it depends on some different factors like how much you pay for electricity and how much direct sunlight your roof gets.
How often do you have to replace solar panels?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger 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.