Solar Panel Cost Guide in Tyrone, IL (2023 Update)
- Tyrone Solar Installation Cost: $11,619
- 25-Year Savings: $10,094
- Payback Period: 13.4 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Tyrone
Find out how much it might cost to go solar in Tyrone.
In Tyrone, solar panels cost about 2.73 per watt on average. Using this figure, a typical 6.1-kW system would cost about $11,619 before the 30% federal solar tax credit is applied.
Keep in mind that the figures above are only estimates based on the average energy use of Tyrone homeowners. The cost of a solar system for your home may look different depending on factors unique to you, like your household energy use and solar contractor. Many homeowners find adopting solar power is a solid investment. The average homeowner in Tyrone can save about $14,000 on their power bills over 20 years.
You can click the button below to get connected with a pre-vetted solar installer in Tyrone for a quote for your home.
Solar savings over time in Tyrone
| Year | Return on Investment |
|---|---|
| 1 years | $-10,750 |
| 3 years | $-9,013 |
| 5 years | $-7,276 |
| 7 years | $-5,539 |
| 9 years | $-3,802 |
| 11 years | $-2,065 |
| 13 years | $-328 |
| 15 years | $1,409 |
| 17 years | $3,146 |
| 19 years | $4,883 |
| 21 years | $6,620 |
| 23 years | $8,357 |
| 25 years | $10,094 |
Top Solar Installers in Tyrone
When making the switch to solar, many homeowners decide to hire a solar installer since handling can be a time-consuming project. Plus, if you're not certain what type of solar panels and equipment you need, a solar installer can help you figure that out after a site survey and consultation.
There are several licensed solar professionals that can help you install your solar system. Here are our suggestions:
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 Tyrone
Factors that Affect Solar Panel Costs in Tyrone
Though the average cost of a solar system in Tyrone is $11,619, your actual cost may differ. There are many factors that can have a sizable impact on the cost of a residential solar panel installation. Below are some of the more important things to keep in mind.
Solar Equipment
The size of the solar energy system you need for your household, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by about $2,730. There are a lot of different solar panel brands and the one you pick also changes the cost. Typically, the brands that have better efficiency tend to also be more expensive. In addition, the type of equipment you want to install can affect your total cost. If you just need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be a challenge. Solar loans are provided by most installers in Tyrone, which can reduce, or in some cases totally eliminate, your upfront costs to make solar more accessible. However, the interest on solar loans also increases your overall costs, so it's crucial to take that into consideration as well. You can always lower the total you pay in interest and sometimes even your APR by making a larger down payment.
Solar Panel Installation Company
Lastly, the company you hire to install your solar system can impact the cost. Tyrone's solar companies all have different labor costs and add varying upcharges to equipment. Larger national companies usually have lower costs, but some local companies undercut them by promoting sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or extra services like electric car 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 | $9,520 | 13.9 years |
| 8 kW | $2.78 | $15,594 | $12,999 | 13.6 years |
| 10 kW | $2.73 | $19,110 | $16,631 | 13.4 years |
| 12 kW | $2.68 | $22,473 | $20,416 | 13.1 years |
| 14 kW | $2.62 | $25,684 | $24,353 | 12.8 years |
| 16 kW | $2.57 | $28,741 | $28,444 | 12.6 years |
| 18 kW | $2.51 | $31,646 | $32,687 | 12.3 years |
| 20 kW | $2.46 | $34,398 | $37,083 | 12.0 years |
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Since picking a company can be difficult, we have some tips to help you, such as:
- Contract: Read the contract terms carefully to make sure you understand the total cost, completion timeline rebates and warranties.
- Warranty: Warranties that provide coverage for panel repairs and maintenance over around 25 years are the gold standard in the business, and offering that kind of warranty is one sign of a quality company.
- Reputation: Solar installers that have great reviews from their customers and that have been in business for many years in most cases provide quality solar panel installation and expertise.
- Solar Panel Brands: Each solar panel brand and type has varying levels of quality, longevity and efficiency. They will come at different prices as well. The company you choose plays a role in which solar panel brands you have access to.
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 Tyrone, IL Solar Cost FAQs
How much does it cost to install solar panels in Tyrone?
This is a tough question to answer precisely, 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. You can expect to pay more if you want other solar equipment or higher quality panels, or if you have higher-than-average energy usage. On the flip side, you can spend less if you want a smaller solar panel system or less expensive solar panels.
Is it better to lease or buy solar panels in Tyrone?
Leasing solar panels can be an option if you can't afford to pay upfront or secure a solar loan, but since you don't own the system, you can't take advantage of many solar incentives. Also your home value won't increase, so you'll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most financial benefits from going solar.
How much can I save on energy bills after switching to solar?
Solar panels can potentially eliminate your electricity bills depending on your location and how much sunlight your home gets. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $714.81 per year.
How long do solar panels last in Tyrone?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger amount of energy production.
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.