Solar Panel Cost Guide in Quincy, IL (2023 Update)
- Quincy Solar Installation Cost: $11,925
- 25-Year Savings: $14,416
- Payback Period: 11.3 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Quincy
Here's how much it might cost to install solar panels in Quincy.
The national average cost of solar panels is $2.66 per watt, but in Quincy it's 2.73 per watt. Using this figure, a typical 6.2-kW system would cost about $11,925 before the 30% federal solar tax credit is applied.
The prices above are just estimates to give you an idea of how much a solar energy system could cost. The actual cost of installing solar panels can vary depending on several factors, such as what size system you need, your energy consumption and what company you go with. For most homeowners, the upfront investment in solar power is worth paying. On average Quincy homeowners see about $16,000 in savings on energy bills over 20 years.
To calculate your potential savings and connect with a local solar company, click the button below.
Solar savings over time in Quincy
| Year | Return on Investment |
|---|---|
| 1 years | $-10,871 |
| 3 years | $-8,764 |
| 5 years | $-6,657 |
| 7 years | $-4,549 |
| 9 years | $-2,442 |
| 11 years | $-335 |
| 13 years | $1,772 |
| 15 years | $3,880 |
| 17 years | $5,987 |
| 19 years | $8,094 |
| 21 years | $10,201 |
| 23 years | $12,309 |
| 25 years | $14,416 |
Top Solar Installers in Quincy
Installing solar panels on your own can be a challenging undertaking, which is why using a solar installation company is a good option for many homeowners. Also, companies with an outstanding reputation that cost more upfront could actually save you money in the long term due to their warranties, repair services and expert design.
There are various licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
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 Quincy
Factors that Affect Solar Panel Costs in Quincy
There are many factors that can affect your solar system installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that performs the installation.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more power your household uses, the larger your system will likely need to be. You can expect to spend about $2,730 per kilowatt in Quincy. There are several different solar panel brands and the one you choose also changes the cost. Generally speaking, the brands that have better efficiency tend to also be more expensive. Additionally, the type of equipment you want to install can affect your total cost. If you only need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
If paying for a solar system in cash is too expensive, solar loans are a popular choice because they cut back your upfront costs and let you pay for your system over five to seven years on average. However, the interest on solar loans also adds to your all-in costs, so it's crucial to include that in your estimate as well. You can always reduce 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 hire to handle your switch to renewable energy can have an effect on your total costs. There are about 3 solar panel companies operating in Quincy, and each can charge different amounts for labor and equipment. The size of the company can sometimes play the most significant role in your costs. Larger national companies, like SunPro and Sunrun, often have lower prices because of more 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 | $13,385 | 11.8 years |
| 8 kW | $2.78 | $15,594 | $18,153 | 11.6 years |
| 10 kW | $2.73 | $19,110 | $23,073 | 11.3 years |
| 12 kW | $2.68 | $22,473 | $28,147 | 11.1 years |
| 14 kW | $2.62 | $25,684 | $33,373 | 10.9 years |
| 16 kW | $2.57 | $28,741 | $38,752 | 10.6 years |
| 18 kW | $2.51 | $31,646 | $44,284 | 10.4 years |
| 20 kW | $2.46 | $34,398 | $49,969 | 10.2 years |
How to Save on Solar Panels
Since the type of solar panels and the company you choose significantly affects your costs and your system's efficiency, production, and durability, it's important to select the right ones for you. Here are some things to keep in mind to help with your decision:
- Installation Process: Make sure you're on the same page with the installer regarding how the installation process will go and what needs to be done before your solar panels are installed, such as repairing your electrical system or roof.
- Solar Panel Brands: Each solar panel brand and type offers varying levels of quality, durability and energy efficiency. They will come at different costs as well. The company you choose impacts which solar panel brands you have access to.
- Reputation: Make sure your solar installer has a good reputation by verifying it has certifications and licenses, checking its number of years in business and reading reviews by previous customers and solar experts like the EcoWatch team.
- Contract: Read the contract terms thoroughly to make sure you understand the total cost, completion timeline incentives and warranties.
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 Quincy, IL Solar Cost FAQs
How much does it cost to install solar panels in Quincy?
The average cost of solar panels in Quincy is about $13,650 for a 5-kW system and $27,300 for a 10-kW system before the ITC, but the real cost will depend on certain factors such as the kind of solar panels you want, what size system you need and how much energy you use.
Is cost the most important consideration when buying solar panels?
Cost is without a doubt one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Is making the switch to solar worth it?
Whether or not solar panels are worth it depends on a variety of factors like the cost of electricity near you and the amount of 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 level 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.