Solar Panel Cost Guide in Smithton, IL (2024 Update)
- Smithton Solar Installation Cost: $16,000
- 25-Year Savings: $13,207
- Payback Period: 16.1 Years
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Average Cost of Solar Panels in Smithton
See how much it might cost to switch to solar power in Smithton.
The national average cost of solar panels is $2.66 per watt, but in Smithton it’s 4 per watt.The average solar panel system size in Smithton is around 6.1 kilowatts, meaning a cost of about $16,000 for a solar installation, or $22,880 before the 0 federal solar tax credit is applied.
Keep in mind that the numbers above are only averages. The price you’ll end up paying for solar may vary based on your household energy use, the type of solar system you want, your solar contractor and more.Despite the significant upfront cost, the average Smithton homeowner can save about $16,000 on their energy bills over 20 years, which is one of the advantages of solar.
Click the button below to get connected to a highly rated solar panel company in Smithton for a personalized quote.
Solar savings over time in Smithton
| Year | Return on Investment |
|---|---|
| 1 years | $-15,149 |
| 3 years | $-13,448 |
| 5 years | $-11,746 |
| 7 years | $-10,045 |
| 9 years | $-8,344 |
| 11 years | $-6,643 |
| 13 years | $-4,941 |
| 15 years | $-3,240 |
| 17 years | $-1,539 |
| 19 years | $163 |
| 21 years | $1,864 |
| 23 years | $3,565 |
| 25 years | $5,267 |
Top Solar Installers in Smithton
When going solar, many homeowners prefer to use a solar installer since putting up a solar system yourself can be a challenging project. Plus, warranties and repairs from your solar panel company can protect your investment and reduce the cost of maintenance in the long run.
There are several licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
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 Smithton
Factors that Affect Solar Panel Costs in Smithton
There are several factors that can affect your total installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that does the installation.
Solar Equipment
When it comes to estimating the price of a solar energy system in Smithton, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home’s energy consumption, which you can gauge by looking at past power bills. Your total cost can increase by about $3,760 for each additional kilowatt you need.There are many different solar panel brands and the one you choose also affects the cost. Generally, the brands that have better efficiency tend to also cost more. Plus, the type of equipment you’re looking to install can affect your total cost. If you only need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be difficult. Solar loans are provided by most installers in Smithton, which can bring down, or in some cases eliminate, your upfront costs to make solar more accessible.It’s a good idea to include the interest you’ll pay in your final cost estimate. If you can afford to pay a higher down payment, you can reduce your total costs and how long it’ll take to pay back the loan.
Solar Panel Installation Company
The solar installer you go with to handle your switch to sustainable energy can play a part in your total costs. There are about 3 solar panel companies in Smithton, and each can charge different amounts for labor and equipment.Larger national companies generally have lower costs, but some local companies keep up with them by promoting sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or additional services like electric vehicle charger installation, they might be cheaper overall.
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 | $8,078 | 16.8 years |
| 8 kW | $3.84 | $21,477 | $11,192 | 16.4 years |
| 10 kW | $3.76 | $26,320 | $14,516 | 16.1 years |
| 12 kW | $3.68 | $30,952 | $18,051 | 15.8 years |
| 14 kW | $3.61 | $35,374 | $21,797 | 15.5 years |
| 16 kW | $3.53 | $39,585 | $25,753 | 15.1 years |
| 18 kW | $3.46 | $43,586 | $29,919 | 14.8 years |
| 20 kW | $3.38 | $47,376 | $34,296 | 14.5 years |
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Since picking a company can be a challenge, we have some tips to help you, such as:
- Solar Panel Brands: Each solar panel brand and kind has varying levels of quality, durability and efficiency. They will come at different prices as well. The company you choose plays a role in 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 work history and reading reviews by past customers and solar experts like the EcoWatch team.
- Installation Process: Homeowners should understand how exactly the installation process will go, as well as important factors like the project completion timeline.
- Contract: Before you sign a contract with a solar company, make sure to read it through fully so you understand the terms. Also, ask questions if you’re unsure about some of the terms, such as what the warranty covers and what services you can expect from them.
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 Smithton, IL Solar Cost FAQs
How much does it cost to install solar panels in Smithton?
This is a difficult question to answer exactly, because the cost depends on a variety of 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 extra solar equipment or higher quality panels, or if you have above-average energy consumption. Conversely, you can spend less if you want a smaller solar panel system or cheaper solar panels.
Can you get solar panels for free in Smithton?
You can’t get solar panels for free in Smithton. 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 want to own your solar panels, you can finance them with a solar loan.
How much can I save on power bills after switching to solar?
It is possible to eradicate your electricity bills with solar panels, but for most homeowners throughout Smithton, that will require at least a 10-kW system. Not all homes will have the roof space for that size system, so you’ll want to check with a local solar installer to see how many panels can fit on your roof.
How many solar panels should I get to power my home?
To figure out what solar panel system size you need, you need to know how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average household 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.