Solar Panel Cost Guide in Spring Valley, IL (2023 Update)
- Spring Valley Solar Installation Cost: $12,307
- 25-Year Savings: $12,096
- Payback Period: 12.6 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Spring Valley
We break down average solar pricing in Spring Valley.
Although the national average of solar panels is $2.66 per watt, solar panels in Spring Valley typically cost around 2.73. Since a 6.4-kW system is needed to cover the energy usage of a typical home in Spring Valley, the average price of going solar will be about $12,307 after claiming the federal solar tax credit of 30%.
Keep in mind 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 solar system you choose, your solar contractor and more. Many homeowners find going solar is a rewarding investment. The average homeowner in Spring Valley can save about $14,000 on their power bills over 20 years.
You can click the button below to get connected with a pre-vetted solar installer in Spring Valley for a quote for your home.
Solar savings over time in Spring Valley
| Year | Return on Investment |
|---|---|
| 1 years | $-11,331 |
| 3 years | $-9,379 |
| 5 years | $-7,426 |
| 7 years | $-5,474 |
| 9 years | $-3,522 |
| 11 years | $-1,570 |
| 13 years | $383 |
| 15 years | $2,335 |
| 17 years | $4,287 |
| 19 years | $6,239 |
| 21 years | $8,191 |
| 23 years | $10,144 |
| 25 years | $12,096 |
Top Solar Installers in Spring Valley
Do-it-yourself solar panel installation is a way to cut costs, but it's an undertaking that can be a pain. Going with an installer can make your switch to solar power much easier. Also, companies with a good reputation that cost more upfront could actually save you money in the long run due to their warranties, repair services and expert design.
If you're looking for a solar company in Spring Valley, we've organized 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 Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
See all of the solar companies in Spring Valley
Factors that Affect Solar Panel Costs in Spring Valley
Even though the average cost of a solar system in Spring Valley is $12,307, your final cost may be above or below the average. There are many factors that can have a sizable impact on the cost of a solar panel installation. Below are some of the more important things to take into consideration.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a few different factors. One of the major 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 $2,730. The model of solar panels and equipment you want is another factor that will substantially affect costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to cost more. Further, solar equipment is more than just the solar panels themselves. You'll also need to consider the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when looking for a solar system that falls within your budget.
Solar Financing Terms
Most solar companies in Spring Valley provide solar loans, which reduce your upfront costs of installing a solar system. You'll have to consider the long-term cost of financing options, including the amount of interest you'll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or getting a solar loan with a low interest rate could reduce your costs remarkably.
Solar Panel Installation Company
The solar panel installer you pick will play a role in your total cost to adopt solar power. Different companies will bill different amounts for the equipment and labor. The size of the company can sometimes play the most considerable role in your total costs. Larger national companies, like SunPro and Sunrun, often have lower pricing due to access to more resources and bulk pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or discount can bring their pricing down 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 | $10,798 | 13.1 years |
| 8 kW | $2.78 | $15,594 | $14,702 | 12.9 years |
| 10 kW | $2.73 | $19,110 | $18,760 | 12.6 years |
| 12 kW | $2.68 | $22,473 | $22,971 | 12.4 years |
| 14 kW | $2.62 | $25,684 | $27,335 | 12.1 years |
| 16 kW | $2.57 | $28,741 | $31,851 | 11.9 years |
| 18 kW | $2.51 | $31,646 | $36,520 | 11.6 years |
| 20 kW | $2.46 | $34,398 | $41,343 | 11.4 years |
How to Save on Solar Panels
Since the type of solar panels and the company you choose considerably affects your costs and your system's efficiency, production, and durability, it's important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- Contract: When reading through your solar company's contract, ask questions about any terms you're not sure of and be sure you understand what happens in scenarios like a system part breaking or if the company goes out of business.
- Warranty: A high-quality company rises above other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- 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: Homeowners will have different preferences for panels based on their locations and energy needs. 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 make sure you peruse their list of options before deciding.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
EcoWatch's Spring Valley, IL Solar Cost FAQs
How much does it cost to install solar panels in Spring Valley?
The average cost of solar panels in Spring Valley is about $13,650 for a 5-kW system and $27,300 for a 10-kW system before the ITC, but the actual cost will depend on stuff such as the type 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 Spring Valley?
Leasing solar panels can be an option if you can't pay upfront or get a solar loan, but since you don't own the system, you don't have access to many solar incentives. Also your home 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.
Does Spring Valley have a net metering program?
The majority of states offer net metering programs of some kind. Through these, you can either be compensated for the extra power your system generates or or receive credits to put toward future energy bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.
How many solar panels do I need to power my home?
To figure out how many solar panels you need, you need to know how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can generally produce about 250 to 400 watt-hours per hour, the average household will need 20 to 35 panels.
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.