Solar Panel Cost Guide in Shelbyville, IL (2023 Update)
- Shelbyville Solar Installation Cost: $11,963
- 25-Year Savings: $15,655
- Payback Period: 10.8 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Shelbyville
We break down average solar pricing in Shelbyville.
The average cost of a solar panel system in Shelbyville is 2.73 per watt. The average solar panel system size in Shelbyville is around 6.3 kilowatts, meaning a cost of about $11,963 for a solar installation, or $17,107 before the 30% federal solar tax credit is applied.
These figures are only estimates, and your own solar costs will vary based on factors unique to your home and what company you go with. But, after you've paid the initial cost of installation, the savings for most homeowners is usually fruitful, with a net average savings of about $17,000 over 20 years on utility bills.
To get a free quote from a pre-vetted solar company in Shelbyville, you can click the button below.
Solar savings over time in Shelbyville
| Year | Return on Investment |
|---|---|
| 1 years | $-10,858 |
| 3 years | $-8,649 |
| 5 years | $-6,439 |
| 7 years | $-4,230 |
| 9 years | $-2,020 |
| 11 years | $189 |
| 13 years | $2,398 |
| 15 years | $4,608 |
| 17 years | $6,817 |
| 19 years | $9,027 |
| 21 years | $11,236 |
| 23 years | $13,445 |
| 25 years | $15,655 |
Top Solar Installers in Shelbyville
Although you can install solar panels on your own, it requires extra labor and knowledge. That's why most homeowners choose to go with a solar panel installer. Some solar installers, particularly local ones, can help you make the most of incentives in Shelbyville, therefore optimizing your ROI.
There are various licensed solar professionals that can install solar panels for you. 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 Shelbyville
Factors that Affect Solar Panel Costs in Shelbyville
For many Shelbyville homeowners, the decision to go solar comes down to cost. However, the range of solar installation costs can be quite wide in Shelbyville, with typical prices between $20,000 to $40,000. There are numerous factors that considerably influence the price you'll pay, which we'll go over below.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of installing solar panels 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 about $2,730 per kilowatt in Shelbyville. The brand and type of equipment you choose for your solar system can increase or decrease the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these are often more expensive 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 will be looking at 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 increase the cost.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be difficult. Solar loans are offered by most installers in Shelbyville, which can reduce, or in some cases completely eliminate, your upfront costs to make solar more accessible. You'll have to consider the long-term cost of loans, including the total interest you'll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or finding a solar loan with a low interest rate could reduce your costs considerably.
Solar Panel Installation Company
A final factor to keep in mind when trying to figure out the cost of solar for your home or business in Shelbyville is the company you choose to install your solar system. As with choosing a company to renovate your kitchen, for instance, you'll have no shortage of solar installers that offer a range of services for different budgets. You may come across national solar installers that have lower prices due to their larger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or promotions to compete with those major players.
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 | $14,553 | 11.3 years |
| 8 kW | $2.78 | $15,594 | $19,709 | 11.0 years |
| 10 kW | $2.73 | $19,110 | $25,019 | 10.8 years |
| 12 kW | $2.68 | $22,473 | $30,481 | 10.6 years |
| 14 kW | $2.62 | $25,684 | $36,097 | 10.4 years |
| 16 kW | $2.57 | $28,741 | $41,865 | 10.2 years |
| 18 kW | $2.51 | $31,646 | $47,786 | 10.0 years |
| 20 kW | $2.46 | $34,398 | $53,860 | 9.7 years |
How to Save on Solar Panels
The solar panel company you opt for will influence not only your overall costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are a few important things you should keep in mind, such as:
- Reputation: Companies that have been operating for many years likely have a solid reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide adequate aftercare and customer service, such as part repairs and replacements.
- Solar Panel Brands: Not all solar installers have the same brands of solar panels, so the brand and type of panel you want can play a big role in the company you choose.
- Contract: Review the contract terms thoroughly to make sure you understand the cost breakdown, project timeline rebates and warranties.
- Warranty: A high-quality company rises above other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
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 Shelbyville, IL Solar Cost FAQs
How much does it cost to install solar panels in Shelbyville?
The average cost of solar panels in Shelbyville 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 things such as the model of solar panels you want, what size system you need and how much energy you consume.
Can you get solar panels for free in Shelbyville?
You can't get solar panels for free in Shelbyville. However, you may still be able to install 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 Shelbyville have a net metering program?
Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just give you credit toward your future electricity bills.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy usage and the amount of sunlight your roof gets. You can look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to install between 20 and 35 panels to cover their typical energy usage.
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.