Solar Panel Cost Guide in Sugar Creek, IL (2023 Update)
- Sugar Creek Solar Installation Cost: $11,695
- 25-Year Savings: $13,461
- Payback Period: 11.6 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Sugar Creek
Find out what the average cost of solar panel installation is in Sugar Creek.
The average cost of a solar panel system in Sugar Creek is 2.73 per watt. To cover the typical energy usage of the average home in Sugar Creek, most homeowners require a 6.1-kilowatt system. Using the figure above, a solar installation costs around $11,695, or $16,724 before the federal solar tax credit of 30% is applied.
Keep in mind that the figures above are only estimates based on the average energy use of Sugar Creek homeowners. The price of a solar system for your home may look different depending on factors unique to your situation, like your household energy use and solar contractor. With typical savings of about $16,000 on utility bills over 20 years, many homeowners in Sugar Creek find installing solar panels can be quite rewarding.
You can click the button below to get connected with a top solar installer in Sugar Creek that can help you get a more accurate cost estimate for your home.
Solar savings over time in Sugar Creek
| Year | Return on Investment |
|---|---|
| 1 years | $-10,689 |
| 3 years | $-8,677 |
| 5 years | $-6,664 |
| 7 years | $-4,651 |
| 9 years | $-2,639 |
| 11 years | $-626 |
| 13 years | $1,386 |
| 15 years | $3,399 |
| 17 years | $5,411 |
| 19 years | $7,424 |
| 21 years | $9,436 |
| 23 years | $11,449 |
| 25 years | $13,461 |
Top Solar Installers in Sugar Creek
Many homeowners opt for a solar installation company since figuring out how to install solar panels by yourself can be challenging. Plus, if you're not certain what brand of solar panels and equipment you may need, a solar expert can help you figure that out after a site survey and consultation.
If you'd like to switch to solar energy but still aren't certain which solar system company to go with, here are our suggestions for providers in Sugar Creek:
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 Sugar Creek
Factors that Affect Solar Panel Costs in Sugar Creek
The cost of installing a solar system in Sugar Creek can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The largest one is your system size, and other factors include equipment choices, financing options and the solar installer you choose.
Solar Equipment
The size of the solar energy system you need for your household, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, your total will most likely increase by around $2,730. The solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you opt for the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. However, higher efficiency could save you more over time on your power bills. Additionally, extra products, like solar batteries, can bring your total well above the Sugar Creek average.
Solar Financing Terms
Many homeowners find the average cost of solar in Sugar Creek 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 drastically decrease upfront costs in most cases, but they also lead to paying more over time due to interest. You'll have to consider the long-term cost of loans, including the total interest you'll pay over the length of the loan. If you're only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the principal cost. Making a larger down payment or getting a solar loan with a low interest rate could reduce your costs significantly.
Solar Panel Installation Company
A final factor to consider when trying to estimate the cost of solar for your home or business in Sugar Creek is the company you get to install your PV system. As with choosing a company to install new cabinets, for instance, there are plenty of solar installers that offer a range of services for different budgets. The company's size can sometimes play the most considerable role in your total costs. Larger national companies, like SunPro and Sunrun, often have lower pricing because they have 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 discount can bring their pricing lower 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 | $12,732 | 12.1 years |
| 8 kW | $2.78 | $15,594 | $17,281 | 11.9 years |
| 10 kW | $2.73 | $19,110 | $21,984 | 11.6 years |
| 12 kW | $2.68 | $22,473 | $26,839 | 11.4 years |
| 14 kW | $2.62 | $25,684 | $31,848 | 11.2 years |
| 16 kW | $2.57 | $28,741 | $37,009 | 10.9 years |
| 18 kW | $2.51 | $31,646 | $42,323 | 10.7 years |
| 20 kW | $2.46 | $34,398 | $47,790 | 10.5 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 choosing a company can be a challenge, we have some tips to help you, such as:
- Reputation: Make sure your solar installer has a good reputation by verifying it has certifications and licenses, checking its work history and reading reviews by previous customers and solar experts like the EcoWatch team.
- Warranty: Warranties that cover replacement parts and repairs over around 25 years are the gold standard in the business, and offering such a warranty is one mark of a quality company.
- Solar Panel Brands: Each solar panel brand and kind offers varying levels of quality, longevity and efficiency. They will come at different costs as well. The company you choose affects which solar panel brands you have access to.
- Contract: Look through the contract terms thoroughly to make sure you understand the overall cost, project completion timeline rebates and warranties.
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 Sugar Creek, IL Solar Cost FAQs
What is the average cost of installing solar panels in Sugar Creek?
This is a difficult question to answer precisely, 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. It will be more expensive if you want additional solar equipment or higher quality panels, or if you have higher-than-average energy consumption. Conversely, you can spend less if you choose a smaller solar panel system or cheaper solar panels.
Is cost the most important thing to consider when buying solar panels?
Cost is certainly one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
Does Sugar Creek have a net metering program?
Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just give you credit toward your future energy bills.
What solar power system size is right for my home?
To figure out what solar panel system size you need, you should find out how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can typically produce about 250 to 400 watt-hours per hour, the average home 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.