Solar Panel Cost Guide in Swansea, IL (2023 Update)
- Swansea Solar Installation Cost: $11,619
- 25-Year Savings: $12,016
- Payback Period: 12.3 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Swansea
We break down average solar pricing in Swansea.
The national average cost of solar panels is $2.66 per watt, but in Swansea it's 2.73 per watt. Since a 6.1-kW system is needed to cover the energy needs of a typical home in Swansea, the average price of going solar will be about $11,619 after claiming the federal solar tax credit of 30%.
The prices above are just estimates to give you an idea of how much a solar energy system could cost. The exact cost of installing solar panels can vary quite a bit depending on a few factors, such as how many panels you need, your energy consumption and what company you go with. With typical savings of about $15,000 on energy bills over 20 years, many homeowners in Swansea find going solar can be quite rewarding.
To calculate your potential ROI and connect with a local solar company, click the button below.
Solar savings over time in Swansea
| Year | Return on Investment |
|---|---|
| 1 years | $-10,673 |
| 3 years | $-8,783 |
| 5 years | $-6,892 |
| 7 years | $-5,001 |
| 9 years | $-3,110 |
| 11 years | $-1,219 |
| 13 years | $671 |
| 15 years | $2,562 |
| 17 years | $4,453 |
| 19 years | $6,344 |
| 21 years | $8,235 |
| 23 years | $10,125 |
| 25 years | $12,016 |
Top Solar Installers in Swansea
Many homeowners opt for a solar installer since figuring out how to install solar panels by yourself can be challenging. Also, companies with a good reputation that are more expensive upfront could actually save you money in the long term with their warranties, repair services and expert design.
You can get a free estimate from a local solar installer on how much your investment in solar could cost for your home. Here are some 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 Swansea
Factors that Affect Solar Panel Costs in Swansea
The cost of installing a solar system in Swansea can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The most significant one is your system size, and other factors include the equipment you choose, financing options and the solar company you choose.
Solar Equipment
The size of the solar system you need for your home, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by nearly $2,730. The brand of solar panels and equipment you want is another factor that will greatly influence costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to cost more. Furthermore, 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 looking for a solar system that falls within your budget.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be financially overwhelming. Solar loans are provided by most installers in Swansea, which can lower, or in some cases eliminate, your upfront costs to make solar more affordable. Though solar loans make adopting solar energy more accessible for Swansea homeowners, they can also increase the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you make a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
The solar installer you pick will influence your total cost to go solar. Different companies will bill different amounts for the equipment and labor. The company's size can sometimes play the most significant role in the cost. Larger national companies, like SunPro and Sunrun, often have lower pricing because of more 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 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 | $11,403 | 12.8 years |
| 8 kW | $2.78 | $15,594 | $15,510 | 12.5 years |
| 10 kW | $2.73 | $19,110 | $19,770 | 12.3 years |
| 12 kW | $2.68 | $22,473 | $24,183 | 12.0 years |
| 14 kW | $2.62 | $25,684 | $28,748 | 11.8 years |
| 16 kW | $2.57 | $28,741 | $33,467 | 11.6 years |
| 18 kW | $2.51 | $31,646 | $38,338 | 11.3 years |
| 20 kW | $2.46 | $34,398 | $43,362 | 11.1 years |
How to Save on Solar Panels
Since the brand of solar panels and the company you choose significantly influences 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:
- Installation Process: Make sure you're on the same page with the installer in regard to how the installation process will go and what you need to do before your solar panel system is installed, such as repairing your electrical system or roof.
- Warranty: If you're concerned about the durability of your solar panel system, checking if your installer offers a 25-year, all-inclusive warranty can help put you at ease.
- Solar Panel Brands: Not all solar companies offer the same brands of solar panels, so the brand and type of panel you want can play a big role in the company you opt for.
- Contract: It's important to look over your solar installer's contract closely to understand what services they will provide, what the warranty covers and what expectations you should have about the cost.
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 Swansea, IL Solar Cost FAQs
What is the average cost of installing solar panels in Swansea?
This is a tough question to answer exactly, because the cost depends on many 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. You can expect to pay more if you want other solar equipment or higher quality panels, or if you have above-average energy usage. On the other hand, you can spend less if you want a smaller solar panel system or less efficient solar panels.
Is cost the most important thing to keep in mind 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.
Do solar panels increase how much your home is worth?
Installing solar panels on your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Swansea is currently $133,082, which means you could be looking at a value of about $5,456 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Swansea is a worthwhile investment.
How many solar panels should I get to power my home?
To figure out what solar panel system size you need, you need to know how much energy your home uses 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 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.