Solar Panel Cost Guide in Tolono, IL (Mar 2023)
- Tolono Solar Installation Cost: $12,058
- 25-Year Savings: $13,219
- Payback Period: 11.9 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated March 14, 2023
Why you can trust EcoWatch
Average Cost of Solar Panels in Tolono
Let's have a look at the average cost of solar in Tolono.
The national average cost of solar panels is $2.66 per watt, but in Tolono it's 2.73 per watt. Because a 6.3-kW system is needed to cover the energy needs of a typical home in Tolono, the average price of going solar will be about $12,058 after claiming the federal solar tax credit of 30%.
Keep in mind that the figures above are only estimates based on the average energy use of Tolono 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. Many homeowners find adopting solar power is a fruitful investment. The average homeowner in Tolono can save around $15,000 on their energy bills over 20 years.
For a personalized quote from a local solar installer that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Tolono
| Year | Return on Investment |
|---|---|
| 1 years | $-11,047 |
| 3 years | $-9,025 |
| 5 years | $-7,003 |
| 7 years | $-4,981 |
| 9 years | $-2,959 |
| 11 years | $-936 |
| 13 years | $1,086 |
| 15 years | $3,108 |
| 17 years | $5,130 |
| 19 years | $7,152 |
| 21 years | $9,174 |
| 23 years | $11,197 |
| 25 years | $13,219 |
Top Solar Installers in Tolono
Trying to put up solar panels on your own can be a dangerous project, which is why getting a solar installer is a good option for many homeowners. A solar installer can also help save you money in the long run by providing warranties, repairs and component replacements.
If you'd like to make the switch to solar but still aren't certain which solar system company to go with, here are our suggestions for providers in Tolono:
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 Tolono
Factors that Affect Solar Panel Costs in Tolono
While the average cost of a solar system in Tolono is $12,058, your final cost may be higher or lower than that. There are several factors that can have a major impact on the cost of a residential solar panel installation. Below are some of the more crucial things to consider.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a variety of factors. One of the notable factors is the system size, which is measured in kilowatts (kW). Solar power systems with higher efficiency or power production require better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $2,730. The model of solar panels and equipment you want is another factor that will largely affect costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to come at a higher price. Further, solar equipment is more than just the solar panels themselves. You'll also need to think 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 into a solar system that falls within your budget.
Solar Financing Terms
Most solar companies in Tolono provide solar loans, which reduce your upfront costs of installing solar panels. While solar loans make switching to solar energy more accessible for Tolono 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 put down a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
The last key cost factor you should keep in mind is the installer you choose. Given the booming popularity of renewable energy solutions in Tolono, you'll have lots of options to choose from, but each comes at varying price points for labor and equipment. You may see national solar installers that have lower prices because of their bigger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or promotions to compete with those major players.
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 | $12,102 | 12.4 years |
| 8 kW | $2.78 | $15,594 | $16,441 | 12.2 years |
| 10 kW | $2.73 | $19,110 | $20,934 | 11.9 years |
| 12 kW | $2.68 | $22,473 | $25,579 | 11.7 years |
| 14 kW | $2.62 | $25,684 | $30,378 | 11.5 years |
| 16 kW | $2.57 | $28,741 | $35,329 | 11.2 years |
| 18 kW | $2.51 | $31,646 | $40,433 | 11.0 years |
| 20 kW | $2.46 | $34,398 | $45,690 | 10.7 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you pick the right company for you, here are some tips to keep in mind:
- Contract: It's important to look over your solar installer's contract carefully to understand what services they will provide, what the warranty covers and what expectations you should have about your solar system's energy production.
- Warranty: If you're concerned about the longevity of your solar panel system, ensuring your installer offers a 25-year, all-inclusive warranty can help put you at ease.
- Installation Process: Make sure you're on the same page with the company in regard to how the installation process will go and what needs to be done before your solar panels are installed, such as updating or replacing your electrical system or roof.
- Solar Panel Brands: Not all solar companies carry the same brands of solar panels, so the brand and type of panel you want can play a substantial role in the company you choose.
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 Tolono, IL Solar Cost FAQs
How much does it cost to install solar panels in Tolono?
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. It will be more expensive if you want extra solar equipment or more efficient panels, or if you have above-average energy needs. Conversely, you can spend less if you go with a smaller solar panel system or cheaper solar panels.
Is cost the most important consideration when buying solar panels?
Cost is definitely one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Do solar panels increase how much your home is worth?
Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Tolono is currently $215,635, so you can expect a value of about $8,841 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Tolono is a worthwhile investment.
What solar power system size is right for my home?
To figure out what solar panel system size you need, you need to know how much energy your home needs 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.