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 average cost of a solar system 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.
These figures are just averages, and how much solar costs for you will most likely differ based on your specific situation and what company you go with.Many homeowners find adopting solar power is a sound investment. The average homeowner in South Beloit can save around $15,000 on their energy bills over 20 years.
You can click the button below to get connected with a vetted solar installer in South Beloit for a quote 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
Although you can install solar panels on your own, it takes extra time and knowledge. That's why most people choose a solar panel installer. The expertise that solar installers offer can be helpful as well, especially if you aren’t sure what brand of solar equipment would be right for your home.
Working with a vetted solar installer can help your solar project go smoothly. Here are our recommendations:
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 South Beloit
Factors that Affect Solar Panel Costs in South Beloit
There are many factors that can influence your solar system installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar panels.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a few different factors. One of the notable factors is the system size, which is measured in kilowatts (kW). Solar power systems with better efficiency or power production need better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $3,760.There are several different solar panel brands and the one you pick also changes the cost. In general, the brands that have better efficiency tend to also cost more. Additionally, the type of equipment you’re looking to get 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
Many homeowners find the average cost of solar in South Beloit to be too costly, even if the investment pays off over time. Fortunately, almost every solar installer in the area provides financing options. Solar loans remarkably decrease upfront costs in most cases, but they also lead to higher prices over time due to interest.When trying to figure out your overall cost, you should also calculate the interest you’ll pay if you opt for a solar loan. Also, paying more upfront can lower the total interest paid over time.
Solar Panel Installation Company
Lastly, the company you choose to install your solar panels can impact the cost. South Beloit’s solar companies all have different labor costs and add varying upcharges to equipment. The size of the company sometimes plays the most considerable role in the installation costs. Larger national companies, like SunPro and Sunrun, often have lower pricing because they have more resources and bulk pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or promotion can bring their pricing down to compete with bigger names.
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: Solar installers that have great reviews from their customers and that have been in business for many years likely offer quality solar panel installation and expertise.
- Contract: It’s important to read your solar installer’s contract fully to understand what services they will provide, what the warranty covers and what expectations you should have about the installation process.
- Solar Panel Brands: Different companies offer different brands and models of panels. If you want a specific brand, make sure the solar installer you’re considering has it.
- Installation Process: When making the switch to solar, it’s essential to maintain an open line of communication with your solar company. Confirm that you understand how the installation process works and the project timeline.
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 South Beloit, IL Solar Cost FAQs
How much does it cost to install solar panels in South Beloit?
This is a difficult question to answer exactly, because the cost depends on many factors. Generally speaking, it costs about $18,800 for a 5-kW system and $37,600 for a 10-kW system after the ITC is applied. You can expect to pay more if you want other solar equipment or more efficient panels, or if you have higher-than-average energy consumption. On the flip side, you can spend less if you choose a smaller solar panel system or cheaper solar panels.
What other factors should I consider in addition to cost when buying solar panels?
Cost is definitely one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
How much can I save on energy bills after switching to solar?
It is possible to eliminate your electricity bills with solar panels, but for most homeowners in South Beloit, that will require at least a 10-kW system. Not all homes can accommodate that size system, so you’ll want to contact a local solar installer to see how many panels can fit on your roof.
How long do solar panels last in South Beloit?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger amount of energy production.
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.