Solar Panel Cost Guide in South Beloit, IL (Jan 2023)

  • South Beloit Solar Installation Cost: $12,460
  • 25-Year Savings: $13,486
  • Payback Period: 12.0 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated January 20, 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 South Beloit

Find out what the average cost of installing solar panels is in South Beloit.

The national average cost of solar panels is $2.66 per watt, but in South Beloit it's $3 per watt. Using this figure, a typical 6.5 would cost about $12,460 before the 30% federal solar tax credit is applied.

Keep in mind that the figures above are only estimates based on the average energy use of South Beloit homeowners. 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. For many homeowners, the upfront investment in solar power is worth paying. On average South Beloit homeowners see about $15,000 in savings on energy bills over 20 years.

To receive a free estimate from a top solar installation company in South Beloit, you can click the button below.

Solar savings over time in South Beloit

Year Return on Investment
1 years $-11,422
3 years $-9,346
5 years $-7,271
7 years $-5,195
9 years $-3,119
11 years $-1,043
13 years $1,032
15 years $3,108
17 years $5,184
19 years $7,259
21 years $9,335
23 years $11,411
25 years $13,486

Top Solar Installers in South Beloit

DIY solar panel installation is a way to cut costs, but it's an undertaking that can use up a lot of your time and energy. Using a solar panel installer can make converting to solar power much easier. Also, companies with a high reputation that are more expensive upfront could actually save you money in the long run due to their warranties, repair services and expert design.

Working with a professional solar installer can help your solar project go smoothly. Here are our recommendations:

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 (coming 2022)

Best Technology

Tesla Energy

★★★★★
4.5

  • 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 South Beloit

Factors that Affect Solar Panel Costs in South Beloit

Cost is often one of the most important factors for homeowners wanting to invest in solar. There are a few key factors that affect your total cost in South Beloit: solar equipment and system size, financing options and the solar installation company you choose. We'll discuss each of these briefly below.

Solar Equipment

When it comes to estimating the cost of a solar energy system in South Beloit, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are chiefly based on your home's energy consumption, which you can gauge by looking at past energy bills. Your overall cost can increase by around $2,730 for each additional kilowatt you need. The kind of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you choose 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, more efficient panels could save you more in the long run on your energy bills. In addition, add-on products, like solar batteries, can bump up your total well above the South Beloit average.

Solar Financing Terms

For some homeowners, paying for a solar system out of pocket can be difficult. Solar loans are available from most installers in South Beloit, which can reduce, or in some cases eliminate, your upfront costs to make solar more affordable. Although solar loans make switching to solar energy more accessible for South Beloit homeowners, they can also add to the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you make a larger down payment, though, you can cut back on how much interest you have to pay.

Solar Panel Installation Company

A final consideration when trying to evaluate the cost of solar for your home or business in South Beloit is the company you hire to install your solar system. As with choosing a company to build a deck or pool, for example, there are plenty of solar installers that provide a range of services at different price points. Companies that only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally cost more. It's best to do some research and find a company that has the products, warranties and services you want and also is within 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 $2.84 $11,925 $11,943 12.5 years
8 kW $2.78 $15,594 $16,230 12.3 years
10 kW $2.73 $19,110 $20,670 12.0 years
12 kW $2.68 $22,473 $25,262 11.8 years
14 kW $2.62 $25,684 $30,008 11.5 years
16 kW $2.57 $28,741 $34,906 11.3 years
18 kW $2.51 $31,646 $39,958 11.0 years
20 kW $2.46 $34,398 $45,162 10.8 years

How to Save on Solar Panels

Since the brand of solar panels and the installer you choose greatly influences your costs and your system's durability and efficiency, it's important to select the right ones for you. Here are some tips to keep in mind to help with your decision:

  • Contract: Review the contract terms carefully to make sure you understand the cost breakdown, project completion timeline incentives and warranties.
  • Installation Process: Get detailed information from your solar company about the installation process and what to expect, such as when the site survey will be done and what the project timeline is.
  • Reputation: Your solar installer should have a good reputation as a company and have proven expertise in the field. Two 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 satisfied reviews from previous customers.
  • Solar Panel Brands: Different companies carry different brands and models of panels. If you want a specific brand, make sure the solar panel installer you're considering has it.

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 (coming 2022)

Best Technology

Tesla Energy

★★★★★
4.5

  • 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 South Beloit, IL Solar Cost FAQs

What is the average cost of installing solar panels in South Beloit?

The average cost of solar panels in South Beloit is about $13,650 for a 5-kW system and $27,300 for a 10-kW system before the ITC, but the real cost will depend on certain factors like the kind of solar panels you want, what size system you need and how much energy you use.

Is it better to lease or buy solar panels in South Beloit?

Leasing solar panels can be an option if you can't pay upfront or secure a solar loan, but since you don't own the system, you can't take advantage of many solar incentives. Also your property value won't increase, so you'll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most bang for your buck from going solar.

How will solar panels impact how much my home is worth?

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 South Beloit is currently $160,279, so you can look forward to a value of about $6,571 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in South Beloit is a worthwhile investment.

What solar power system size is right for my home?

The exact number of solar panels you need depends on your household energy needs and how much sunlight your roof gets. You can take a 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 get between 20 and 35 panels to account for 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.

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