Solar Panel Cost Guide in Taylorville, IL (2024 Update)
- Taylorville Solar Installation Cost: $16,430
- 25-Year Savings: $15,109
- Payback Period: 15.2 Years
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Average Cost of Solar Panels in Taylorville
Let’s have a look at the average cost of solar in Taylorville.
The average cost of a solar panel system in Taylorville is 4 per watt.To cover the typical energy needs of the average home in Taylorville, most homeowners require a 6.2-kilowatt system. Using the per-watt figure above, a solar installation costs about $16,430, or $23,495 before the federal solar tax credit of 0 is applied.
These figures are only estimates, and your own solar costs will differ based on factors unique to your home and what company you choose to go with.Even with the high initial cost, the average Taylorville homeowner can save around $16,000 on their electricity bills over 20 years, which is one of the advantages of solar.
Click the button below to get connected to a top solar company in your area for a custom estimate.
Solar savings over time in Taylorville
| Year | Return on Investment |
|---|---|
| 1 years | $-15,580 |
| 3 years | $-13,878 |
| 5 years | $-12,177 |
| 7 years | $-10,476 |
| 9 years | $-8,775 |
| 11 years | $-7,073 |
| 13 years | $-5,372 |
| 15 years | $-3,671 |
| 17 years | $-1,969 |
| 19 years | $-268 |
| 21 years | $1,433 |
| 23 years | $3,135 |
| 25 years | $4,836 |
Top Solar Installers in Taylorville
When switching to solar energy, many homeowners decide to hire a solar installation company since overseeing your solar installation yourself can be a challenging project. Since solar panels are exposed to temperature swings and extreme weather, warranties and repairs from your solar company can help you get the most out of your investment in solar panels by avoiding potential costs down the line.
Working with a licensed solar installer can help your solar project go smoothly. Here are our recommendations:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best for Leasing
Sunrun
- 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 Taylorville
Factors that Affect Solar Panel Costs in Taylorville
For many Taylorville homeowners, the decision to install a solar energy system rests on cost. However, the range of solar installation costs can be quite wide in Taylorville, with typical prices between $20,000 to $40,000. There are a number of factors that greatly influence the price you’ll pay, which we'll go over below.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more power your household consumes, the larger your system will likely need to be. You can expect to spend around $3,760 per kilowatt in Taylorville.There are many different solar panel brands and the one you choose also changes the cost. Generally speaking, the brands that have better efficiency tend to also be more expensive. In addition, the type of equipment you’re looking to install can affect your total cost. If you only need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Most solar installers in Taylorville provide solar loans, which reduce your upfront costs of installing solar.It’s a good idea to factor the interest you’ll pay in your final cost estimate. If you can afford to pay a higher down payment, you can reduce your total costs and the amount of time it’ll take to pay off the loan.
Solar Panel Installation Company
The solar panel installation company you pick will impact your total cost to make the switch to solar power. Different companies will bill different amounts for the equipment and labor.You may come across 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 specials 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 | $9,564 | 15.8 years |
| 8 kW | $3.84 | $21,477 | $13,173 | 15.5 years |
| 10 kW | $3.76 | $26,320 | $16,993 | 15.2 years |
| 12 kW | $3.68 | $30,952 | $21,023 | 14.9 years |
| 14 kW | $3.61 | $35,374 | $25,263 | 14.6 years |
| 16 kW | $3.53 | $39,585 | $29,715 | 14.3 years |
| 18 kW | $3.46 | $43,586 | $34,377 | 14.0 years |
| 20 kW | $3.38 | $47,376 | $39,249 | 13.7 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you select the right company for you, here are some tips to keep in mind:
- Warranty: Warranties that provide coverage for defective panels and repairs over around 25 years are the gold standard in the business, and offering such a warranty is one mark of a good company.
- Contract: It’s important to read through your solar installer’s contract carefully to understand what services they will provide, what the warranty covers and what you can expect about the project timeline.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for clean energy professionals. If your solar panel installer is NABCEP-certified, it likely has a solid reputation and is qualified to install your solar system. Another way you can verify your installer’s reputation is by reading reviews.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their roof configurations and energy needs. Although there are many options for which kind of solar panel you can get, not every company will have the exact one you may want or need, so be sure to peruse their list of offerings before deciding.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
EcoWatch's Taylorville, IL Solar Cost FAQs
How much does it cost to install solar panels in Taylorville?
This is a hard question to answer exactly, because the cost depends on a few different factors. Generally speaking, it costs about $18,800 for a 5-kW system and $37,600 for a 10-kW system after the ITC is applied. You can expect to pay more if you want additional solar equipment or more efficient panels, or if you have above-average energy consumption. Conversely, you can spend less if you choose a smaller solar panel system or less expensive solar panels.
Is cost the most important thing to think about 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.
Can solar panels completely eradicate my power bills?
Solar panels can potentially eliminate your electricity bills depending on where you’re located and the efficiency of your system. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $866.25 per year.
How many solar panels should I get to power my home?
To figure out how many solar panels 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 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.