Solar Panel Cost Guide in Springfield, IL (2024 Update)

  • Springfield Solar Installation Cost: $16,461
  • 25-Year Savings: $14,630
  • Payback Period: 15.5 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated February 03, 2024

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We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Springfield

We break down average solar pricing in Springfield.

In Springfield, solar panels cost about 4 per watt on average.To cover the typical energy needs of the average home in Springfield, most homeowners require a 6.3-kilowatt system. Using the per-watt figure above, a solar installation costs around $16,461, or $23,539 before the federal solar tax credit of 0 is applied.

The actual price you pay can be higher or lower than the average in Springfield depending on several factors, such as the kind of solar panels you choose and the solar company you hire.Even with the significant upfront cost, the average Springfield homeowner can save around $16,000 on their electricity bills over 20 years, which is one of the perks of solar.

For a customized quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.

Solar savings over time in Springfield

Year Return on Investment
1 years $-15,500
3 years $-13,579
5 years $-11,658
7 years $-9,736
9 years $-7,815
11 years $-5,894
13 years $-3,972
15 years $-2,051
17 years $-130
19 years $1,792
21 years $3,713
23 years $5,634
25 years $7,556

Top Solar Installers in Springfield

Installing solar panels by yourself can be a time-consuming task, which is why hiring a solar installer is a good option for many homeowners. The expertise that solar companies offer can be helpful as well, especially if you don’t quite know what kind of solar equipment would be right for your home.

Working with a licensed solar installer can help you make the most of your investment in solar. Here are our recommendations:

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries

Best for Leasing

Sunrun

★★★★★
4.0

  • 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 Springfield

Factors that Affect Solar Panel Costs in Springfield

For many Springfield homeowners, the decision to install a solar energy system rests on cost. However, the range of solar installation costs can be quite wide in Springfield, with typical prices between $20,000 to $40,000. There are a few factors that significantly influence the price you’ll pay, which we'll go over below.

Solar Equipment

The cost of solar panel systems varies by thousands of dollars due to a few different factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems that have higher efficiency or power generation 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.The brand and type of equipment you get for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these are often more expensive than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have a small roof or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to more savings over time. Also, if you want additional equipment like an electric vehicle charger or solar batteries, this will also increase the cost.

Solar Financing Terms

For some homeowners, paying for solar panels out of pocket can be a challenge. Solar loans are provided by most installers in Springfield, which can reduce, or in some cases eliminate, your upfront costs to make solar more affordable.Even though solar loans make going solar more accessible for Springfield homeowners, they can also raise the total you pay for your system due to interest. If you put down a larger down payment, though, you can cut back on how much interest you have to pay.

Solar Panel Installation Company

The solar company you opt for to handle your switch to solar energy can play a part in your total costs. There are about 3 solar installation companies operating throughout Springfield, and each can charge different amounts for labor and equipment.You may see national solar installers that have lower prices because of their larger brand name and access to bulk equipment prices, or you might see small, local installation companies offering deals or promotions to compete with those larger companies.

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 $9,077 16.1 years
8 kW $3.84 $21,477 $12,524 15.8 years
10 kW $3.76 $26,320 $16,182 15.5 years
12 kW $3.68 $30,952 $20,050 15.2 years
14 kW $3.61 $35,374 $24,128 14.9 years
16 kW $3.53 $39,585 $28,417 14.6 years
18 kW $3.46 $43,586 $32,917 14.2 years
20 kW $3.38 $47,376 $37,627 13.9 years

How to Save on Solar Panels

Since the type of solar panels and the installation company you choose has an impact on your costs and your system’s efficiency, production, and durability, it’s important to select the right ones for you. Here are some tips to keep in mind to help with your decision:

  • Contract: Read the contract terms carefully to make sure you understand the overall cost, project completion timeline rebates and warranties.
  • Reputation: Your solar installer should have a solid reputation as a company and have verifiable 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 positive reviews from past customers.
  • Installation Process: An important thing to understand when going solar is the installation process itself. Be sure to align on any details you need to know with your solar installer, such as what permits you should acquire and how long the project will take.
  • Warranty: If you’re worried about the endurance of your solar energy system, making sure your company offers a 25-year, all-inclusive warranty can help put you at ease.

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries

Best for Leasing

Sunrun

★★★★★
4.0

  • Expansive service area
  • Many financing options
  • Some reported issues with customer service
  • Some reported issues with door-to-door sales

EcoWatch's Springfield, IL Solar Cost FAQs

What is the average cost of installing solar panels in Springfield?

This is a difficult question to answer exactly, because the cost depends on many factors. Broadly speaking, it costs about $18,800 for a 5-kW system and $37,600 for a 10-kW system after the ITC is applied. It will be more expensive if you want other solar equipment or higher quality panels, or if you have higher-than-average energy usage. Conversely, you can spend less if you go with a smaller solar panel system or less efficient solar panels.

Is it better to lease or buy solar panels in Springfield?

Leasing solar panels can be an attractive choice, as it often comes with low or $0 upfront payments. The downside is that you won’t be able to save as much. If you lease, you don’t own the system, so you can’t claim any tax rebates and credits and your home value won’t increase. Buying solar panels is a better option if you want to get the most savings.

Is it worth going solar in Springfield?

Whether or not solar panels are worth it depends on a variety of factors like the cost of electricity near you and the amount of direct sunlight your roof gets.

What solar power system size is right for my home?

To figure out how many solar panels you need, you need to know how much energy your home requires 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.

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