Solar Panel Cost Guide in Tolono, IL (2023 Update)
- Tolono Solar Installation Cost: $12,063
- 25-Year Savings: $13,214
- Payback Period: 11.9 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Tolono
Let's take a look at the average cost of solar in Tolono.
The average cost of solar panels in Tolono is 2.73 per watt. The average solar panel system size in Tolono is around 6.3 kilowatts, meaning a cost of about $12,058 for a solar installation, or $17,243 before the 30% federal solar tax credit is applied.
These figures are just estimates, and how much solar costs for you will look different based on your specific situation and what company you choose to go with. Many homeowners find going solar is a solid investment. The average homeowner in Tolono can save about $15,000 on their energy bills over 20 years.
To receive a free estimate from a pre-vetted solar installer in Tolono, you can click the button below.
Solar savings over time in Tolono
| Year | Return on Investment |
|---|---|
| 1 years | $-11,212 |
| 3 years | $-9,511 |
| 5 years | $-7,810 |
| 7 years | $-6,108 |
| 9 years | $-4,407 |
| 11 years | $-2,706 |
| 13 years | $-1,004 |
| 15 years | $697 |
| 17 years | $2,398 |
| 19 years | $4,099 |
| 21 years | $5,801 |
| 23 years | $7,502 |
| 25 years | $9,203 |
Top Solar Installers in Tolono
DIY solar panel installation is a way to cut costs, but it's an undertaking that can be a headache. Going with a solar company can make swapping over to solar power much easier. Also, companies with a good reputation that are more expensive upfront could actually save you money in the long term because of their warranties, repair services and expert design.
Working with a professional solar installer can make going solar easier. Here are our recommendations:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
See all of the solar companies in Tolono
Factors that Affect Solar Panel Costs in Tolono
For many Tolono homeowners, the decision to install a solar energy system depends on cost. However, the range of solar installation costs can be quite wide in Tolono, with typical prices between $20,000 to $40,000. There are a few factors that greatly influence the price you'll pay, which we'll go over below.
Solar Equipment
When it comes to estimating the price of solar panels in Tolono, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are primarily based on your home's energy consumption, which you can figure out by looking at past energy bills. Your total cost can increase by about $2,730 for each additional kilowatt you need. There are many different solar panel brands and the one you pick also affects the cost. In general, the brands that have better efficiency tend to also be more expensive. Plus, the type of equipment you're looking to get can affect your total cost. If you just need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Solar panels can save you money on energy bills over time, but they can also be a significant investment. That's why many Tolono homeowners choose to finance their solar panel systems to offset upfront costs. However, the interest on solar loans also adds to your overall costs, so it's crucial to consider that as well. You can always bring down the total you pay in interest and possibly even your APR by making a larger down payment.
Solar Panel Installation Company
Lastly, the company you opt for to install your solar panels can play a role in determining your pricing. Tolono's solar companies all have different labor costs and add varying upcharges to equipment. You may see national solar installers that have lower prices due to their larger brand name and access to bulk 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 | $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
The company that does your solar panel installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Since choosing a company can be a challenge, we have some tips to help you, such as:
- Installation Process: An important thing to understand when adopting solar power is the installation process itself. Be sure to clarify any details you need to know with your solar installer, such as what permits you should acquire and how long the project will take.
- 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.
- Warranty: Warranties that provide coverage for panel repairs and maintenance over a long period of time such as 25 years are the gold standard in the business, and offering such a warranty is one indication of a good company.
- Contract: Look through the contract terms carefully to make sure you understand the cost breakdown, project timeline incentives and warranties.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Tolono, IL Solar Cost FAQs
What is the average cost of installing solar panels in Tolono?
The average cost of solar panels in Tolono 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 stuff such as the type of solar panels you want, what size system you need and how much energy you consume.
Is cost the most important consideration 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.
Is it worth going solar in Tolono?
Solar panels can be a fruitful investment for most homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your electricity bills are already pretty low, solar panels might not be for you.
How long do solar panels last in Tolono?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is their energy production will have decreased significantly after that point. You can decide to replace them once you've had them for that long or you can keep using them at a lower efficiency.
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.