Solar Panel Cost Guide in Somerset, IL (2024 Update)
- Somerset Solar Installation Cost: $15,971
- 25-Year Savings: $12,222
- Payback Period: 16.8 Years
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Average Cost of Solar Panels in Somerset
We break down average solar pricing in Somerset.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Somerset, the typical cost of a solar system is 4 per watt.To account for the typical energy usage of the average home in Somerset, most homeowners require a 6.1-kilowatt system. Using the per-watt figure above, a solar installation costs about $15,971, or $22,839 before the federal solar tax credit of 0 is applied.
The true cost of your system can go above or below the average in Somerset depending on several factors, such as the kind of solar panels you choose and the solar contractor you hire.But, after you've paid the upfront cost of installation, the ROI for most homeowners is quite fruitful, with a net average savings of about $15,000 over 20 years on electricity bills.
Click the button below to get connected to a vetted solar company in Somerset for a personalized estimate.
Solar savings over time in Somerset
| Year | Return on Investment |
|---|---|
| 1 years | $-15,121 |
| 3 years | $-13,420 |
| 5 years | $-11,718 |
| 7 years | $-10,017 |
| 9 years | $-8,316 |
| 11 years | $-6,614 |
| 13 years | $-4,913 |
| 15 years | $-3,212 |
| 17 years | $-1,511 |
| 19 years | $191 |
| 21 years | $1,892 |
| 23 years | $3,593 |
| 25 years | $5,295 |
Top Solar Installers in Somerset
Do-it-yourself solar panel installation is a choice some homeowners opt for, but it's an undertaking that can use up a lot of your time and energy. Hiring an installer can make swapping over to solar power much easier. The payback period of solar panels will vary depending on factors like your roof configuration and energy consumption, but going with a solar company can help you reach a break-even point sooner. Your provider will be able to help you identify incentives available in your area.
If you're searching for a solar installer in Somerset, we've put together 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 Somerset
Factors that Affect Solar Panel Costs in Somerset
Cost is usually one of the most important factors for homeowners considering investing in solar. There are a few primary factors that will push your cost above or below the average in Somerset: solar equipment and system size, financing options and the solar installation company you choose. We’ll discuss 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, your total will most likely increase by around $3,760. There are many different solar panel brands and the one you choose also affects the cost. In many cases, 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 far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Many homeowners find the average cost of solar in Somerset to be prohibitively steep, even if the investment pays off over time. Fortunately, nearly every solar installer in the area provides access to financing options. Solar loans remarkably decrease upfront costs in most cases, but they also lead to higher prices over time because of interest.It’s wise 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 company you go with to handle your switch to clean energy can have an effect on your total costs. There are about 3 solar installation companies in Somerset, and each can charge different amounts for labor and equipment.Some companies only sell high-efficiency and high-priced products — 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 decide on the company that has the products, warranties and services you want and also fit into 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 | $7,127 | 17.4 years |
| 8 kW | $3.84 | $21,477 | $9,924 | 17.1 years |
| 10 kW | $3.76 | $26,320 | $12,931 | 16.8 years |
| 12 kW | $3.68 | $30,952 | $16,149 | 16.4 years |
| 14 kW | $3.61 | $35,374 | $19,578 | 16.1 years |
| 16 kW | $3.53 | $39,585 | $23,217 | 15.8 years |
| 18 kW | $3.46 | $43,586 | $27,067 | 15.4 years |
| 20 kW | $3.38 | $47,376 | $31,127 | 15.1 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 brands and price points. To help you pick the right company for you, here are some tips to keep in mind:
- Solar Panel Brands: Homeowners will have different preferences for panels based on their roof configurations and how much efficiency they need. While there are many options for which kind of solar panel you can get, not every company will have access to the exact one you may want or need, so be sure to ask for their list of offerings before making your decision.
- Installation Process: Make sure you’re aligned with the installer with regard to how the installation process will go and what needs to be done before your solar panel system is installed, such as updating your electrical system or roof.
- Reputation: Your solar installer should have a sound reputation as a company and have proven expertise in the field. A couple of ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from previous customers.
- Warranty: Companies typically offer different kinds of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
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 Somerset, IL Solar Cost FAQs
What is the average cost of installing solar panels in Somerset?
The average cost of solar panels in Somerset is about $18,800 for a 5-kW system and $37,600 for a 10-kW system before the ITC, but the actual cost will depend on things like the type of solar panels you want, what size system you need and how much energy you use.
Are solar panels free in Somerset?
You can’t get solar panels for free in Somerset. However, you may still be able to get them on a lower budget. You can lease solar panels for a low upfront cost or, if you’d rather own your solar panels, you can finance them with a solar loan.
How much can I save on power bills after installing solar panels?
Solar panels can potentially eliminate your electricity bills depending on where you’re located and the efficiency of your system. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $785.03 per year.
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 average daily 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 buy 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.