Solar Panel Cost Guide in Taylorville, IL (Mar 2023)
- Taylorville Solar Installation Cost: $11,925
- 25-Year Savings: $15,114
- Payback Period: 11.0 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Taylorville
Here's how much it might cost to make the switch to solar in Taylorville.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Taylorville, the average cost of a solar system is 2.73 per watt. The average Taylorville homeowner needs a 6.2-kilowatt system, which would cost about $11,925 with the federal tax credit, or $17,053 before the 30% tax credit is applied.
Bear in mind that the figures above are only estimates based on the average Taylorville homeowner. The cost of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor. With average savings of about $16,000 on utility bills over 20 years, many homeowners in Taylorville find installing solar panels can pay off big.
To get a free estimate from a highly rated solar company in Taylorville, you can click the button below.
Solar savings over time in Taylorville
| Year | Return on Investment |
|---|---|
| 1 years | $-10,843 |
| 3 years | $-8,680 |
| 5 years | $-6,517 |
| 7 years | $-4,354 |
| 9 years | $-2,191 |
| 11 years | $-28 |
| 13 years | $2,135 |
| 15 years | $4,298 |
| 17 years | $6,461 |
| 19 years | $8,624 |
| 21 years | $10,787 |
| 23 years | $12,951 |
| 25 years | $15,114 |
Top Solar Installers in Taylorville
Trying to put up solar panels on your own can be a difficult project, which is why getting a solar installation company is a good option for many homeowners. A solar company can also help save you money over the lifespan of your system by offering warranties, repairs and part replacements.
You can get a free quote from a local solar installer on how much solar panels 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 (coming 2022)
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
See all of the solar companies in Taylorville
Factors that Affect Solar Panel Costs in Taylorville
For many Taylorville homeowners, the decision to go solar depends 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 several factors that considerably influence the price you'll pay, which we'll go over below.
Solar Equipment
One of the most important factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more energy your household consumes, the larger your system will likely need to be. You can expect to pay around $2,730 per kilowatt in Taylorville. 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 often have a higher price tag 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 raise the cost.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be difficult. Solar loans are provided by most installers in Taylorville, which can reduce, or in some cases eliminate, your upfront costs to make solar more affordable. 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 the amount of time it'll take to pay off the loan.
Solar Panel Installation Company
Finally, the company you get to install your solar panels can play a part in determining how much you pay. Taylorville's solar companies all have different labor costs and add varying upcharges to equipment. Larger national companies generally have lower costs, but some local companies compete with them by promoting sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or additional services like electric vehicle charger installation, they might be cheaper overall.
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 | $14,063 | 11.5 years |
| 8 kW | $2.78 | $15,594 | $19,056 | 11.3 years |
| 10 kW | $2.73 | $19,110 | $24,203 | 11.0 years |
| 12 kW | $2.68 | $22,473 | $29,502 | 10.8 years |
| 14 kW | $2.62 | $25,684 | $34,954 | 10.6 years |
| 16 kW | $2.57 | $28,741 | $40,559 | 10.4 years |
| 18 kW | $2.51 | $31,646 | $46,316 | 10.1 years |
| 20 kW | $2.46 | $34,398 | $52,227 | 9.9 years |
How to Save on Solar Panels
Since the model of solar panels and the company you choose significantly impacts 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: Look through the contract terms carefully to make sure you understand the cost breakdown, project completion timeline incentives and warranties.
- Reputation: Solar panel companies that have great reviews from their customers and that have been operating for many years likely offer good-quality solar panel installation and expertise.
- Installation Process: When going solar, it's crucial to maintain an open line of communication with your solar company. Make sure you understand how the installation process works and the completion timeline.
- Solar Panel Brands: The type of solar panel you'd like to get plays a part in which installer you should opt for, since different companies have different panels.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
EcoWatch's Taylorville, IL Solar Cost FAQs
What is the average cost of installing solar panels in Taylorville?
The average cost of solar panels in Taylorville is about $13,650 for a 5-kW system and $27,300 for a 10-kW system before the ITC, but the real cost will depend on certain factors like the kind of solar panels you want, what size system you need and how much energy you use.
Should I lease or buy solar panels in Taylorville?
Leasing solar panels can be an appealing choice, because it commonly 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.
Can you sell solar power back to the grid in Taylorville?
Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just give you credit toward your future electricity bills.
How many solar panels do I need to power my home?
The exact number of solar panels you need depends on your household energy needs and how much 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 get 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.