Solar Panel Cost Guide in South Rock Island, IL (2023 Update)
- South Rock Island Solar Installation Cost: $12,326
- 25-Year Savings: $7,461
- Payback Period: 15.6 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in South Rock Island
Let's take a look at the average cost of solar panels in South Rock Island.
Currently, the national average cost of solar panels is $2.66 per watt. However, in South Rock Island, the typical cost of a solar system is 2.73 per watt. To account for the typical energy usage of the average home in South Rock Island, most homeowners require a 6.5-kilowatt system. Using the per-watt figure above, a solar installation costs around $12,326, or $17,626 before the federal solar tax credit of 30% is applied.
Keep in mind that the numbers above are only averages. The price you'll end up paying for solar may look quite different based on your household energy needs, the type of equipment you choose, your solar contractor and more. Despite the high initial cost, the average South Rock Island homeowner can save around $12,000 on their electricity bills over 20 years, which is one of the benefits of solar.
To see your potential savings and connect with a local solar company, click the button below.
Solar savings over time in South Rock Island
| Year | Return on Investment |
|---|---|
| 1 years | $-11,534 |
| 3 years | $-9,952 |
| 5 years | $-8,369 |
| 7 years | $-6,786 |
| 9 years | $-5,203 |
| 11 years | $-3,620 |
| 13 years | $-2,037 |
| 15 years | $-454 |
| 17 years | $1,129 |
| 19 years | $2,712 |
| 21 years | $4,295 |
| 23 years | $5,878 |
| 25 years | $7,461 |
Top Solar Installers in South Rock Island
Although you can install solar panels yourself, it involves extra labor and handiness. For that reason, most homeowners choose to hire a solar panel installer. Companies can also offer access to a large variety of the best solar panels and help you decide which one will be right for your family.
If you're searching for a solar installer in South Rock Island, we've 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 (coming 2022)
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 Rock Island
Factors that Affect Solar Panel Costs in South Rock Island
Even though the average cost of a solar system in South Rock Island is $12,326, your final cost may differ. There are quite a few factors that can have a significant impact on the cost of a residential solar panel installation. Below are some of the more important things to keep in mind.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of going solar. For that reason, it's crucial to accurately assess the size of the solar energy system needed for your home by figuring out your typical energy use. The kind of solar panels and equipment you want is another factor that will substantially influence costs. Solar panels that are more efficient, like monocrystalline panels, tend to come at a higher price. Plus, solar equipment consists of more than just the solar panels themselves. You'll also need to make decisions about the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when researching a solar system that's in your budget.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be difficult. Solar loans are available from most installers in South Rock Island, which can bring down, or in some cases totally eliminate, your upfront costs to make solar more accessible. However, the interest on solar loans also increases your overall costs, so it's vital to include that in your estimate as well. You can always lower the total you pay in interest and in some cases even your APR by making a larger down payment.
Solar Panel Installation Company
The solar installer you hire to handle your switch to clean energy can play a part in your total costs. There are about 3 solar panel companies operating throughout South Rock Island, and each can charge varying amounts for labor and equipment. The size of the company sometimes plays the most considerable role in your costs. Larger national companies, like SunPro and Sunrun, often have lower pricing due to greater 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 lower to compete with bigger companies.
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 | $6,471 | 16.2 years |
| 8 kW | $2.78 | $15,594 | $8,934 | 15.9 years |
| 10 kW | $2.73 | $19,110 | $11,550 | 15.6 years |
| 12 kW | $2.68 | $22,473 | $14,318 | 15.3 years |
| 14 kW | $2.62 | $25,684 | $17,240 | 15.0 years |
| 16 kW | $2.57 | $28,741 | $20,314 | 14.6 years |
| 18 kW | $2.51 | $31,646 | $23,541 | 14.3 years |
| 20 kW | $2.46 | $34,398 | $26,921 | 14.0 years |
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because choosing a company can be difficult, we have some tips to help you, such as:
- Warranty: Warranties that provide coverage for replacement parts and repairs over a long period of time such as 25 years are the best you can get in the business, and offering that kind of warranty is one mark of a quality company.
- 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.
- Contract: Before you sign a contract with a solar installer, make sure you read it through fully so you understand the terms. Also, ask questions if you aren't sure about some of the terms, such as what to do if a part breaks or malfunctions and what services you can expect from them.
- 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 model of solar panel you can get, not every company will have the exact one you may want or need, so be sure to peruse their list of offerings before deciding.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
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 Rock Island, IL Solar Cost FAQs
How much does it cost to install solar panels in South Rock Island?
This is a difficult question to answer exactly, because the cost depends on a variety of factors. Broadly speaking, it costs about $13,650 for a 5-kW system and $27,300 for a 10-kW system after the ITC is applied. It will be more expensive if you want extra solar equipment or higher quality panels, or if you have higher-than-average energy usage. Conversely, you can spend less if you choose a smaller solar panel system or less expensive solar panels.
Are solar panels free in South Rock Island?
You can't get solar panels for free in South Rock Island. However, you may still be able to install 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.
Is it worth going solar in South Rock Island?
Whether or not solar panels are worth it depends on a variety of factors like local electricity rates and the amount of direct sunlight your roof gets.
How long do solar panels last in South Rock Island?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher level 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.