Solar Panel Cost Guide in Salem, IL (2023 Update)

  • Salem Solar Installation Cost: $11,772
  • 25-Year Savings: $13,089
  • Payback Period: 11.8 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated May 04, 2023

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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

Find out what the average cost of a solar system is in Salem.

The average cost of a solar system in Salem is 2.73 per watt. Using this figure, a typical 6.2-kW system would cost about $11,772 before the 30% federal solar tax credit is applied.

Keep in mind that the figures above are only estimates based on the average Salem homeowner. The cost of a solar system for your home may look different depending on factors unique to you, like your household energy use and solar contractor. Many homeowners find adopting solar power is a fruitful investment. The average homeowner in Salem can save about $15,000 on their electricity bills over 20 years.

Click the button below to get connected to a vetted solar panel company in Salem for a custom estimate.

Solar savings over time in Salem

Year Return on Investment
1 years $-10,777
3 years $-8,788
5 years $-6,800
7 years $-4,811
9 years $-2,822
11 years $-833
13 years $1,156
15 years $3,145
17 years $5,134
19 years $7,122
21 years $9,111
23 years $11,100
25 years $13,089

Top Solar Installers in Salem

DIY solar panel installation is a choice some homeowners opt for, but it's an undertaking that can be a headache. Using a solar company can make switching to solar power much easier. The expertise that solar companies offer can be useful as well, particularly if you aren't sure what brand of solar equipment would be right for your home.

There are a number of licensed solar professionals that can install solar panels for you. Here are our suggestions:

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

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

Best Warranty Coverage

Sunpro Solar

★★★★★
4.0

  • Industry-leading warranty coverage
  • Expansive service area
  • Some reported communication issues
  • No leases or PPAs

See all of the solar companies in Salem

Factors that Affect Solar Panel Costs in Salem

For many Salem homeowners, the decision to install solar panels comes down to cost. However, the range of solar installation costs can be quite wide in Salem, with typical prices between $20,000 to $40,000. There are a number of factors that considerably influence the price you'll pay, which we'll go over below.

Solar Equipment

Solar system size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of going solar. That's why it's a priority to accurately gauge the size of the solar energy system needed for your home by figuring out your energy needs. The solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you get 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 in the long run on your energy bills. In addition, extra products, like solar batteries, can bump up your total well above the Salem average.

Solar Financing Terms

For some homeowners, paying for a solar system out of pocket can be challenging. Solar loans are offered by most installers in Salem, which can reduce, or in some cases completely eliminate, your upfront costs to make solar more affordable. When trying to figure out your overall cost, you should also calculate the interest you'll pay if you choose to go with a solar loan. Also, paying a higher down payment can lower the total interest paid over time.

Solar Panel Installation Company

A final consideration when trying to evaluate the cost of solar for your home or business in Salem is the company you choose to install your solar panel system. Similar to choosing a company to install new cabinets, for example, there's no shortage of solar installers that offer a range of services at different price points. The company's size can sometimes play the most significant role in the installation costs. Larger national companies, like SunPro and Sunrun, often have lower prices due to more resources and bulk 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 $12,302 12.3 years
8 kW $2.78 $15,594 $16,709 12.1 years
10 kW $2.73 $19,110 $21,268 11.8 years
12 kW $2.68 $22,473 $25,981 11.6 years
14 kW $2.62 $25,684 $30,846 11.4 years
16 kW $2.57 $28,741 $35,864 11.1 years
18 kW $2.51 $31,646 $41,035 10.9 years
20 kW $2.46 $34,398 $46,358 10.6 years

How to Save on Solar Panels

There are a lot of companies to choose from in Salem, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be tough, so here are some tips to help you decide:

  • Installation Process: Get details from your solar installer about the installation process and what to expect, such as when the site survey will be completed and how long it will take.
  • Warranty: If you care about the endurance of your solar panel system, checking if your installer offers a 25-year, all-inclusive warranty can give you some peace of mind.
  • Solar Panel Brands: Homeowners will have different preferences for panels depending on their roof configurations and how much efficiency they need. Even though there are many options for which brand of solar panel you can get, not every company will have access to the exact one you may want or need, so make sure you peruse their list of options before making your decision.
  • Contract: It's important to read through your solar installer's contract well to understand what services they will provide, what the warranty covers and what you can expect about the project timeline.

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

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

Best Warranty Coverage

Sunpro Solar

★★★★★
4.0

  • Industry-leading warranty coverage
  • Expansive service area
  • Some reported communication issues
  • No leases or PPAs

EcoWatch's Salem, IL Solar Cost FAQs

How much does it cost to install solar panels in Salem?

This is a difficult question to answer exactly, 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 cost more if you want additional solar equipment or more efficient panels, or if you have above-average energy consumption. Conversely, you can spend less if you choose a smaller solar panel system or less efficient solar panels.

What other factors should I consider apart from cost when buying solar panels?

The upfront cost is a key factor to consider, but whether it's the most important for you depends on why you decided to go solar. In areas where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to think about are the quality and durability of your solar panels.

Do solar panels increase your home 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 Salem is currently $82,076, which means you can look forward to a value of about $3,365 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Salem is a fruitful investment.

How long do solar panels last in Salem?

Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can decide to replace them after having them for that long or you can continue to use them at a lower efficiency.

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.

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