Solar Panel Cost Guide in Stookey, IL (2023 Update)
- Stookey Solar Installation Cost: $11,619
- 25-Year Savings: $12,008
- Payback Period: 12.3 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Stookey
Find out what the average cost of solar panels are in Stookey.
While the national average of solar panels is $2.66 per watt, solar panels in Stookey generally cost around 2.73. To account for the typical energy usage of the average home in Stookey, most homeowners require a 6.1-kilowatt system. Using the per-watt figure above, a solar installation costs about $11,619, or $16,615 before the federal solar tax credit of 30% is applied.
These figures are just averages, and your own solar costs may vary based on your specific situation and what company you choose to go with. But, after you've paid the upfront cost of installation, the ROI for most homeowners is quite good, with a net average savings of about $15,000 over 20 years on power bills.
You can click the button below to get connected with a vetted solar installer in Stookey for a quote for your home.
Solar savings over time in Stookey
| Year | Return on Investment |
|---|---|
| 1 years | $-10,674 |
| 3 years | $-8,784 |
| 5 years | $-6,893 |
| 7 years | $-5,003 |
| 9 years | $-3,113 |
| 11 years | $-1,223 |
| 13 years | $667 |
| 15 years | $2,557 |
| 17 years | $4,447 |
| 19 years | $6,338 |
| 21 years | $8,228 |
| 23 years | $10,118 |
| 25 years | $12,008 |
Top Solar Installers in Stookey
Although it's possible to install solar panels by yourself, it requires extra labor and knowledge. For that reason, most people choose to go with a solar panel installer. Also, companies with a good reputation that cost more upfront could actually save you money in the long term because of their warranties, repair services and expert design.
If you'd like to switch to solar energy but still aren't certain which solar installer to go with, here are our recommendations for providers near you:
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 Stookey
Factors that Affect Solar Panel Costs in Stookey
Cost is usually one of the most important factors for homeowners who are considering investing in solar. There are a few primary factors that determine your overall cost in Stookey: solar equipment and system size, financing options and the solar installation company you choose. We'll cover each of these briefly below.
Solar Equipment
When it comes to estimating the price of solar panels in Stookey, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are primarily based on your home's energy usage, 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 power bills. In addition, extra products, such as solar batteries, can bump up your total well above the Stookey average.
Solar Financing Terms
Many homeowners find the average cost of solar in Stookey to be prohibitively expensive, even if the investment pays off over time. Fortunately, almost every solar company in the area provides financing options. Solar loans remarkably decrease upfront costs for most homeowners, but they also result in a higher cost over time due to interest. It's a good idea to include the interest you'll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and how long it'll take to pay off the loan.
Solar Panel Installation Company
A final consideration when trying to estimate the cost of solar for your home or business in Stookey is the company you hire to install your solar panel system. Similar to choosing a company to build a deck or pool, for example, you'll have no shortage of solar installers that provide a range of services at different price points. The size of the company sometimes plays the most considerable role in the cost. Larger national companies, like SunPro and Sunrun, often have lower pricing because they have access to greater resources and better 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 names.
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 | $11,396 | 12.8 years |
| 8 kW | $2.78 | $15,594 | $15,500 | 12.5 years |
| 10 kW | $2.73 | $19,110 | $19,757 | 12.3 years |
| 12 kW | $2.68 | $22,473 | $24,167 | 12.0 years |
| 14 kW | $2.62 | $25,684 | $28,730 | 11.8 years |
| 16 kW | $2.57 | $28,741 | $33,446 | 11.6 years |
| 18 kW | $2.51 | $31,646 | $38,315 | 11.3 years |
| 20 kW | $2.46 | $34,398 | $43,336 | 11.1 years |
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Because selecting a company can be a tough decision, we have some tips to help you, such as:
- Reputation: Solar system installers that have great reviews from their customers and that have been in business for many years in most cases provide high-quality solar panel installation and expertise.
- Contract: Read the contract terms thoroughly to make sure you understand the cost breakdown, project timeline incentives and warranties.
- Solar Panel Brands: Different companies will have various brands and kinds of panels. If you know you want a specific brand, make sure the solar panel installer you're considering has it.
- Installation Process: Make sure you're on the same page with the installer with regard to how the installation process will go and what needs to be done before your solar panels are installed, such as updating your electrical system or roof.
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 Stookey, IL Solar Cost FAQs
What is the average cost of installing solar panels in Stookey?
This is a tough question to answer exactly, because the cost depends on many factors. Generally speaking, it costs about $13,650 for a 5-kW system and $27,300 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 needs. On the other hand, you can spend less if you want a smaller solar panel system or cheaper solar panels.
Are solar panels free in Stookey?
Solar panels aren't free in Stookey, but there are some options that can make getting them more affordable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that you can take advantage of.
Is it worth going solar in Stookey?
Solar panels can be a fruitful investment for many homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your energy bills are already fairly low, solar panels might not be for you.
How many solar panels should I get to power my home?
The exact number of solar panels you need depends on your household energy consumption and the average daily sunlight your roof gets. You can look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to install between 20 and 35 panels to cover their typical energy usage.
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.