Solar Panel Cost Guide in Salem, IL (2024 Update)

  • Salem Solar Installation Cost: $16,205
  • 25-Year Savings: $13,095
  • Payback Period: 16.3 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated June 24, 2024

Why you can trust EcoWatch

We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Salem

See how much it might cost to go solar in Salem.

Currently, the national average cost of solar panels is $2.66 per watt. However, in Salem, the typical cost of a solar system is 4 per watt.To cover the typical energy usage of the average home in Salem, most homeowners require a 6.2-kilowatt system. Using the figure above, a solar installation costs around $16,205, or $23,173 before the federal solar tax credit of 0 is applied.

The prices above are just estimates to give you an idea of how much solar panels could cost. The exact cost of making the switch to solar can vary depending on a few factors, such as how many panels you need, your energy consumption and what installation company you go with.For many homeowners, the upfront cost of solar is worth paying. On average you could be looking at about $15,000 in savings on electricity bills over 20 years.

For a personalized quote from a local solar installer that has been pre-vetted by EcoWatch, click the button below.

Solar savings over time in Salem

YearReturn on Investment
1 years$-15,354
3 years$-13,653
5 years$-11,952
7 years$-10,250
9 years$-8,549
11 years$-6,848
13 years$-5,147
15 years$-3,445
17 years$-1,744
19 years$-43
21 years$1,659
23 years$3,360
25 years$5,061

Top Solar Installers in Salem

Although you can install solar panels by yourself, it requires extra energy and handiness. That's one of the reasons almost all homeowners choose to hire a solar panel installer. Some solar companies, especially local ones, can help you make the most of incentives in Salem, therefore optimizing your ROI.

If you’d like to switch to solar energy but still aren’t certain which solar system installer to go with, here are our recommendations for providers near you:

Best Solar Financing

Blue Raven Solar

★★★★★
4.5
  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries

Best for Leasing

Sunrun

★★★★★
4.0
  • Expansive service area
  • Many financing options
  • Some reported issues with customer service
  • Some reported issues with door-to-door sales

Best Technology

Tesla Energy

★★★★★
3.2
  • 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 Salem

Factors that Affect Solar Panel Costs in Salem

Cost is often one of the most important factors for homeowners who want to invest in solar. There are a few primary factors that will push your cost above or below the average in Salem: solar equipment and system size, financing options and the solar installation company you choose. We’ll go over each of these briefly below.

Solar Equipment

The size of the solar energy system you need for your household, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by around $3,760. The brand and kind of equipment you want for your solar system can increase or decrease the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these often come at a higher price 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 can expect a higher equipment cost, but this can typically lead to greater savings over time. Plus, if you want add-ons like an electric vehicle charger or solar batteries, this will also raise the cost.

Solar Financing Terms

Solar panels can save you money on energy bills over time, but they can also be a big investment. That’s why many Salem homeowners choose to finance their solar panel systems to offset upfront costs.It’s wise to add the interest you’ll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and how long it’ll take to pay back the loan.

Solar Panel Installation Company

The solar installation company you pick will play a role in your total cost to adopt solar power. Different companies will bill different amounts for the equipment and labor.The size of the company can sometimes play the most considerable role in your total costs. Larger national companies, like SunPro and Sunrun, often have lower prices because of access to more resources and better pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or promotion can bring their pricing down to compete with bigger companies.

Solar Panel Cost Data by System Size

System sizeCost per system wattSolar system cost25-Year savingsPayback period
6 kW$3.91$16,424$7,80316.9 years
8 kW$3.84$21,477$10,82516.6 years
10 kW$3.76$26,320$14,05816.3 years
12 kW$3.68$30,952$17,50216.0 years
14 kW$3.61$35,374$21,15515.6 years
16 kW$3.53$39,585$25,02015.3 years
18 kW$3.46$43,586$29,09515.0 years
20 kW$3.38$47,376$33,38014.7 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 find the right company for you, here are some tips to keep in mind:

  • Solar Panel Brands: Different companies will have different brands and kinds of panels. If you know you want a specific brand, make sure the solar panel installer you’re considering has it.
  • Reputation: Make sure your solar panel 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.
  • Installation Process: Homeowners should make sure they know how exactly the installation process will go, as well as important factors like the project completion timeline.
  • Warranty: Each company may offer different types of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.

Best Solar Financing

Blue Raven Solar

★★★★★
4.5
  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries

Best for Leasing

Sunrun

★★★★★
4.0
  • Expansive service area
  • Many financing options
  • Some reported issues with customer service
  • Some reported issues with door-to-door sales

Best Technology

Tesla Energy

★★★★★
3.2
  • 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 Salem, IL Solar Cost FAQs

What is the average cost of installing solar panels in Salem?

This is a tough question to answer precisely, because the cost depends on a few different factors. Generally speaking, it costs about $18,800 for a 5-kW system and $37,600 for a 10-kW system after the ITC is applied. You can expect to pay more if you want other solar equipment or higher quality panels, or if you have above-average energy usage. On the other hand, you can spend less if you choose a smaller solar panel system or less expensive solar panels.

Can you get solar panels for free in Salem?

You can’t get solar panels for free in Salem. However, you may still be able to afford them on a lower budget. You can lease solar panels for a low upfront cost or, if you’d prefer to own your solar panels, you can finance them with a solar loan.

Does Salem have a net metering program?

Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just give you credit toward your future power bills.

What solar power system size is right for my home?

To figure out how many solar panels 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 house 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.