Solar Panel Cost Guide in Pontiac, IL (2023 Update)
- Pontiac Solar Installation Cost: $12,180
- 25-Year Savings: $12,031
- Payback Period: 12.6 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Pontiac
We break down average solar pricing in Pontiac.
In Pontiac, solar panels cost about 2.73 per watt on average. Using this figure, a typical 6.4-kW system would cost about $12,173 before the 30% federal solar tax credit is applied.
How much you pay can go above or below the average in Pontiac depending on a few factors, such as the kind of solar panels you choose and the solar contractor you hire. But, once you've paid the initial cost of installation, the return on investment for most homeowners is typically good, with a net average savings of about $14,000 over 20 years on utility bills.
To see your potential savings and connect with a local solar company, click the button below.
Solar savings over time in Pontiac
| Year | Return on Investment |
|---|---|
| 1 years | $-11,024 |
| 3 years | $-8,711 |
| 5 years | $-6,399 |
| 7 years | $-4,087 |
| 9 years | $-1,774 |
| 11 years | $538 |
| 13 years | $2,850 |
| 15 years | $5,163 |
| 17 years | $7,475 |
| 19 years | $9,788 |
| 21 years | $12,100 |
| 23 years | $14,412 |
| 25 years | $16,725 |
Top Solar Installers in Pontiac
DIY solar panel installation is a possibility, but it's an undertaking that can be a headache. Going with a solar company can make swapping over to solar power much easier. The expertise that solar companies provide can be invaluable as well, especially if you don't quite know what type of solar equipment would be right for your home.
Working with a professional solar installer can make going solar easier. 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 Pontiac
Factors that Affect Solar Panel Costs in Pontiac
Cost is often one of the most important factors for homeowners who are considering investing in solar. There are a few key factors that determine your overall cost in Pontiac: solar equipment and system size, financing options and the solar installation company you choose. We'll cover each of these briefly below.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a variety of factors. One of the key factors is the system size, which is measured in kilowatts (kW). Solar power systems with higher efficiency or power production need 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 type of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you choose 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 over time on your power bills. Additionally, extra products, like solar batteries, can bump up your total well above the Pontiac average.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be financially overwhelming. Solar loans are provided by most installers in Pontiac, which can reduce, or in some cases eliminate, your upfront costs to make solar more accessible. You'll have to consider the long-term cost of loans, including the total interest you'll pay over the length of the loan. If you're only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or getting a solar loan with a low APR could reduce your costs significantly.
Solar Panel Installation Company
A final consideration when trying to evaluate the cost of solar for your home or business in Pontiac is the company you get to install your PV system. As with choosing a company to install new cabinets, for instance, you'll have many options for solar installers that provide a range of services for different budgets. 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 go with the company that provides the products, warranties and services you're looking for and also is within 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 | $10,867 | 13.1 years |
| 8 kW | $2.78 | $15,594 | $14,795 | 12.8 years |
| 10 kW | $2.73 | $19,110 | $18,876 | 12.6 years |
| 12 kW | $2.68 | $22,473 | $23,110 | 12.3 years |
| 14 kW | $2.62 | $25,684 | $27,497 | 12.1 years |
| 16 kW | $2.57 | $28,741 | $32,037 | 11.8 years |
| 18 kW | $2.51 | $31,646 | $36,729 | 11.6 years |
| 20 kW | $2.46 | $34,398 | $41,575 | 11.3 years |
How to Save on Solar Panels
Since the type of solar panels and the company you choose has an impact on your costs and your system's efficiency, production, and durability, it's important to select the right ones for you. Here are some tips to keep in mind to help with your decision:
- Solar Panel Brands: Not all solar companies carry the same brands of solar panels, so the brand and type of panel you want can play a substantial role in the company you hire.
- Reputation: Your solar installer should have a good reputation as a company and have verifiable expertise in the field. Two ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has good reviews from previous customers.
- Contract: It's important to look over your solar installer's contract carefully to understand what services they will provide, what the warranty covers and what you can expect about the project timeline.
- Installation Process: Make sure you're aligned with the installer with regard to how the installation process will go and what you need to do before your solar system is installed, such as repairing 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
EcoWatch's Pontiac, IL Solar Cost FAQs
What is the average cost of installing solar panels in Pontiac?
This is a difficult question to answer precisely, 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 be more expensive if you want other solar equipment or more efficient panels, or if you have higher-than-average energy needs. Conversely, you can spend less if you opt for a smaller solar panel system or less expensive solar panels.
Should I lease or buy solar panels in Pontiac?
Leasing solar panels can be an attractive choice, as it typically comes with low or $0 upfront payments. The downside 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 tax rebates and credits and your home value won't increase. Buying solar panels is a better way to go if you want to maximize your savings.
Is going solar worth it?
Whether or not solar panels are worth it depends on some different factors like local electricity rates and how much direct sunlight your roof gets.
How many solar panels should I get to power my home?
The exact number of solar panels you need depends on your household energy usage and the average daily sunlight your roof gets. You can look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to install between 20 and 35 panels to account for their typical energy usage.
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.