Solar Panel Cost Guide in South Beloit, IL (2024 Update)
- South Beloit Solar Installation Cost: $17,167
- 25-Year Savings: $13,482
- Payback Period: 16.5 Years
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Average Cost of Solar Panels in South Beloit
We break down average solar pricing in South Beloit.
Currently, the national average cost of solar panels is $2.66 per watt. However, in South Beloit, the typical cost of solar panels is 4 per watt.The average solar panel system size in South Beloit is around 6.5 kilowatts, meaning a cost of about $17,167 for a solar installation, or $24,549 before the 0 federal solar tax credit is applied.
Remember that the numbers above are only averages. The price you’ll pay for solar may look quite different based on your household energy use, the type of equipment you want, your solar contractor and more.With average savings of about $15,000 on electricity bills over 20 years, many homeowners in South Beloit find investing in solar can be quite rewarding.
You can click the button below to get connected with a vetted solar installer in South Beloit that can help you get a more accurate cost estimate for your home.
Solar savings over time in South Beloit
| Year | Return on Investment |
|---|---|
| 1 years | $-16,011 |
| 3 years | $-13,698 |
| 5 years | $-11,386 |
| 7 years | $-9,074 |
| 9 years | $-6,761 |
| 11 years | $-4,449 |
| 13 years | $-2,137 |
| 15 years | $176 |
| 17 years | $2,488 |
| 19 years | $4,801 |
| 21 years | $7,113 |
| 23 years | $9,425 |
| 25 years | $11,738 |
Top Solar Installers in South Beloit
Putting up solar panels on your own can be a stressful project, which is why using a solar installation company is a good option for many homeowners. A solar installer can also help save you money over time by offering warranties, repairs and part replacements.
If you're looking for a solar company in South Beloit, the EcoWatch team has put together a list of our top suggestions here:
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
Best Technology
Tesla Energy
- 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
There are many criteria that can determine your 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 cost of solar panels in South Beloit, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are primarily based on your home’s energy usage, which you can gauge by looking at past electricity bills. Your total cost can increase by around $3,760 for each additional kilowatt you need.Some solar brands — like Maxeon from SunPower — cost more upfront but also tend to offer higher efficiency. In a city like South Beloit, where sunlight is relatively abundant, efficiency can quickly pay off. Also, if you have a small roof or limited space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
If paying for solar panels in cash is too expensive, solar loans are a solid choice because they lower your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years.However, the interest on solar loans also adds to your overall costs, so it’s crucial to take that into consideration as well. You can always reduce the total you pay in interest and in some cases even your APR by making a larger down payment.
Solar Panel Installation Company
A final factor to consider when trying to figure out the cost of solar for your home or business in South Beloit is the company you choose to install your PV system. As with choosing a company to renovate your kitchen, for example, you’ll have no shortage of solar installers that offer a range of services for different budgets.Larger national companies typically 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 extra services like electric car 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 | $7,444 | 17.2 years |
| 8 kW | $3.84 | $21,477 | $10,347 | 16.9 years |
| 10 kW | $3.76 | $26,320 | $13,460 | 16.5 years |
| 12 kW | $3.68 | $30,952 | $16,784 | 16.2 years |
| 14 kW | $3.61 | $35,374 | $20,318 | 15.9 years |
| 16 kW | $3.53 | $39,585 | $24,063 | 15.5 years |
| 18 kW | $3.46 | $43,586 | $28,018 | 15.2 years |
| 20 kW | $3.38 | $47,376 | $32,184 | 14.9 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 select the right company for you, here are some tips to keep in mind:
- Reputation: Make sure your solar panel installer has a good reputation by confirming it has certifications and licenses, checking its number of years in business and reading reviews by past customers and solar experts like EcoWatch.
- Contract: It’s important to read through your solar installer’s contract carefully to understand what services they will provide, what the warranty covers and what you can expect about the cost.
- Solar Panel Brands: Different companies have various brands and kinds of panels. If you want a specific brand, make sure the solar panel company you’re considering has it.
- Installation Process: Get details from your solar installer about the installation process and what to expect, including when the site survey will be completed and how long it will take.
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
Best Technology
Tesla Energy
- 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 $18,800 for a 5-kW system and $37,600 for a 10-kW system before the ITC, but the real cost will depend on stuff such as the model of solar panels you want, what size system you need and how much energy you use.
Is cost the most important consideration when buying solar panels?
The initial cost is a crucial 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 trump the cost. Other factors that are important to be mindful of are the quality and durability of your solar panels.
Can solar panels completely eradicate my electricity bills?
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 $795.60 per year.
How long do solar panels last in South Beloit?
Though 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 their energy production will have decreased significantly after that point. You can decide to replace them once you've had 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.