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
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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:
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.
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.
EcoWatch's South Beloit, IL Solar Cost FAQs
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.