Solar Panel Cost Guide in Quincy, IL (2024 Update)
- Quincy Solar Installation Cost: $16,435
- 25-Year Savings: $14,408
- Payback Period: 15.6 Years
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Average Cost of Solar Panels in Quincy
Find out what the average cost of solar panel installation is in Quincy.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Quincy, the average cost of a solar system is 4 per watt.The average Quincy homeowner needs a 6.2-kilowatt system, which would cost about $16,435 with the federal tax credit, or $23,502 before the 0 tax credit is applied.
Keep in mind that the numbers above are only averages. The price you’ll pay for solar will differ based on your household energy consumption, the type of equipment you want to get, your solar contractor and more.Many homeowners find going solar is a fruitful investment. The average homeowner in Quincy can save around $16,000 on their electricity bills over 20 years.
To calculate your potential savings and connect with a local solar installer, click the button below.
Solar savings over time in Quincy
| Year | Return on Investment |
|---|---|
| 1 years | $-15,584 |
| 3 years | $-13,883 |
| 5 years | $-12,182 |
| 7 years | $-10,480 |
| 9 years | $-8,779 |
| 11 years | $-7,078 |
| 13 years | $-5,376 |
| 15 years | $-3,675 |
| 17 years | $-1,974 |
| 19 years | $-273 |
| 21 years | $1,429 |
| 23 years | $3,130 |
| 25 years | $4,831 |
Top Solar Installers in Quincy
Do-it-yourself solar panel installation is a choice some homeowners opt for, but it's an undertaking that can be a headache. Taking advantage of a solar panel installer can make your swap to solar power much easier. Plus, warranties and repairs from your solar panel company can protect your investment and reduce the cost of maintenance over time.
If you're searching for a solar installer in Quincy, we've organized a list of our top suggestions here:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
See all of the solar companies in Quincy
Factors that Affect Solar Panel Costs in Quincy
For many Quincy homeowners, the decision to install solar panels depends on cost. However, the range of solar installation costs can be quite wide in Quincy, with typical prices between $20,000 to $40,000. There are several factors that significantly influence the price you’ll pay, which we'll go over below.
Solar Equipment
One of the most important factors to consider when it comes to the cost of adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household uses, the larger your system will likely need to be. You can expect to spend around $3,760 per kilowatt in Quincy.There are many different solar panel brands and the one you pick also affects the cost. Generally, the brands that are more efficient tend to also cost more. Additionally, the type of equipment you’re looking to install can affect your total cost. If you just need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
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 Quincy, which can lower, or in some cases eliminate, your upfront costs to make solar more accessible.When trying to figure out your overall cost, you should also calculate the interest you’ll pay if you decide on a solar loan. Also, paying more on your down payment can reduce the total interest paid over time.
Solar Panel Installation Company
The last key cost factor you should take into consideration is the installer you choose. Given the booming popularity of renewable energy solutions in Quincy, you’ll have many options to choose from, but each comes at varying price points for labor and equipment.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 with an above-average cost. It’s best to do some research and go with the company that provides the products, warranties and services you want 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 | $3.91 | $16,424 | $8,886 | 16.2 years |
| 8 kW | $3.84 | $21,477 | $12,270 | 15.9 years |
| 10 kW | $3.76 | $26,320 | $15,863 | 15.6 years |
| 12 kW | $3.68 | $30,952 | $19,668 | 15.3 years |
| 14 kW | $3.61 | $35,374 | $23,683 | 15.0 years |
| 16 kW | $3.53 | $39,585 | $27,908 | 14.7 years |
| 18 kW | $3.46 | $43,586 | $32,344 | 14.4 years |
| 20 kW | $3.38 | $47,376 | $36,991 | 14.0 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because choosing a company can be a challenge, we have some tips to help you, such as:
- Installation Process: Homeowners should make sure they know how exactly the installation process will be carried out, as well as important factors like the project completion timeline.
- Contract: Before you sign a contract with a solar company, make sure to look it over completely so you understand the terms. Also, ask questions if you’re unsure about some of the terms, such as what to do if a component breaks or malfunctions and what services you can expect from them.
- Warranty: Warranties that cover replacement parts and repairs over a couple decades are the best you can get in the business, and offering such a warranty is one indication of a quality company.
- Solar Panel Brands: Different companies will carry different brands and kinds of panels. If you want a specific brand, make sure the solar installer you’re considering has it.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
EcoWatch's Quincy, IL Solar Cost FAQs
What is the average cost of installing solar panels in Quincy?
This is a difficult question to answer exactly, because the cost depends on a few different factors. Broadly speaking, it costs about $18,800 for a 5-kW system and $37,600 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 higher-than-average energy usage. On the flip side, you can spend less if you go with a smaller solar panel system or cheaper solar panels.
What other factors should I consider in addition to cost when buying solar panels?
Cost is definitely one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
How will solar panels impact my property value?
Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Quincy is currently $164,755, which means you can look forward to a value of about $6,755 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Quincy is a fruitful investment.
What solar power system size is right for my home?
To figure out what solar panel system size you need, you should find out how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can typically 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.