Solar Panel Cost Guide in Posen, IL (2023 Update)
- Posen Solar Installation Cost: $12,211
- 25-Year Savings: $10,400
- Payback Period: 13.5 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Posen
Let's have a look at the average cost of solar panels in Posen.
The national average cost of solar panels is $2.66 per watt, but in Posen it's 2.73 per watt. Using this figure, a typical 6.4-kW system would cost about $12,211 before the 30% federal solar tax credit is applied.
Remember that the numbers above are only averages. The price you'll end up paying for solar may vary based on your household energy use, the type of equipment you choose, your solar contractor and more. With average savings of about $13,000 on power bills over 20 years, many homeowners in Posen find installing solar panels can pay off big.
You can click the button below to get connected with a pre-vetted solar installer in Posen that can help you get a more accurate cost estimate for your home.
Solar savings over time in Posen
| Year | Return on Investment |
|---|---|
| 1 years | $-11,307 |
| 3 years | $-9,498 |
| 5 years | $-7,689 |
| 7 years | $-5,880 |
| 9 years | $-4,071 |
| 11 years | $-2,262 |
| 13 years | $-453 |
| 15 years | $1,356 |
| 17 years | $3,165 |
| 19 years | $4,974 |
| 21 years | $6,783 |
| 23 years | $8,592 |
| 25 years | $10,400 |
Top Solar Installers in Posen
Trying to put up solar panels by yourself can be a challenging undertaking, which is why hiring a solar installation company is a good option for many homeowners. The expertise that solar companies offer can be useful as well, especially if you don't quite know what type of solar equipment you need.
If you'd like to start using solar energy but still aren't certain which solar installer to go with, here are our recommendations for providers near you:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
See all of the solar companies in Posen
Factors that Affect Solar Panel Costs in Posen
Although the average cost of a solar system in Posen is $12,211, your actual cost may differ. There are quite a few factors that can have a major impact on the cost of a solar panel installation. Below are some of the more crucial things to consider.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of installing solar panels. That's why it's important to accurately gauge the size of the solar energy system needed for your home by figuring out your energy needs. The type of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you opt for the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. On the other hand, higher efficiency could save you more over time on your electric bills. In addition, add-on products, such as solar batteries, can bump up your total well above the Posen average.
Solar Financing Terms
Many homeowners find the average cost of solar in Posen to be prohibitively costly, even if the investment pays off over time. Fortunately, nearly every solar company in the area provides financing options. Solar loans greatly decrease upfront costs for most homeowners, but they also result in paying more over time due to interest. However, the interest on solar loans also adds to your total costs, so it's important to take that into consideration as well. You can always bring down the total you pay in interest and sometimes even your APR by making a larger down payment.
Solar Panel Installation Company
The solar installer you go with to handle your switch to renewable energy can play a role in your total costs. There are about 3 solar installation companies in Posen, and each can charge different amounts for labor and equipment. Additionally, some companies in Posen are more knowledgeable about local solar incentives and can help you take advantage of additional rebates or tax exemptions. Though, they may charge more for walking you through the whole process. Even if they cost more upfront, they could end up saving you more money in the long run.
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 | $9,307 | 14.0 years |
| 8 kW | $2.78 | $15,594 | $12,715 | 13.8 years |
| 10 kW | $2.73 | $19,110 | $16,276 | 13.5 years |
| 12 kW | $2.68 | $22,473 | $19,990 | 13.2 years |
| 14 kW | $2.62 | $25,684 | $23,856 | 13.0 years |
| 16 kW | $2.57 | $28,741 | $27,876 | 12.7 years |
| 18 kW | $2.51 | $31,646 | $32,048 | 12.4 years |
| 20 kW | $2.46 | $34,398 | $36,374 | 12.2 years |
How to Save on Solar Panels
There are numerous companies available in Posen, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be tough, so here are some tips to help you decide:
- Contract: Review the contract terms closely to make sure you understand the total cost, project timeline incentives and warranties.
- 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 likely has a solid reputation and is qualified to get the job done well. Another way you can check your installer's reputation is by reading reviews.
- Warranty: Warranties that provide coverage for replacement parts and repairs over a couple decades are the gold standard in the business, and offering such a warranty is one mark of a quality company.
- Solar Panel Brands: The type of solar panel you want plays a part in which installer you should opt for, since different companies provide different panels.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
EcoWatch's Posen, IL Solar Cost FAQs
How much does it cost to install solar panels in Posen?
The average cost of solar panels in Posen is about $13,650 for a 5-kW system and $27,300 for a 10-kW system before the ITC, but the actual 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.
Is it better to lease or buy solar panels in Posen?
Leasing solar panels can be an appealing choice, as it often 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 incentives and your home value won't increase. Buying solar panels is a better way to go if you want to get the most savings.
Do solar panels increase your home value?
Solar panels can increase the value of your home significantly 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."
What solar power system size is right for my home?
To figure out what solar panel system size you need, you need to know how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average home will need 20 to 35 panels.
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.