Solar Panel Cost Guide in West Lincoln, IL (Mar 2023)
- West Lincoln Solar Installation Cost: $12,097
- 25-Year Savings: $11,106
- Payback Period: 13.0 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in West Lincoln
See how much it might cost to go solar in West Lincoln.
In West Lincoln, solar panels cost about 2.73 per watt on average. To account for the typical energy usage of the average home in West Lincoln, most homeowners require a 6.3-kilowatt system. Using the figure above, a solar installation costs around $12,097, or $17,299 before the federal solar tax credit of 30% is applied.
Bear in mind that the figures above are only estimates based on the average West Lincoln homeowner. 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. But, once you've paid the upfront cost of installation, the return on investment for most homeowners is typically rewarding, with a net average savings of about $14,000 over 20 years on utility bills.
You can click the button below to get connected with a pre-vetted solar company in West Lincoln for a quote for your home.
Solar savings over time in West Lincoln
| Year | Return on Investment |
|---|---|
| 1 years | $-11,169 |
| 3 years | $-9,312 |
| 5 years | $-7,456 |
| 7 years | $-5,600 |
| 9 years | $-3,744 |
| 11 years | $-1,887 |
| 13 years | $-31 |
| 15 years | $1,825 |
| 17 years | $3,681 |
| 19 years | $5,538 |
| 21 years | $7,394 |
| 23 years | $9,250 |
| 25 years | $11,106 |
Top Solar Installers in West Lincoln
DIY solar panel installation is a possibility, but it's an undertaking that can take a lot of hard work. Hiring an installer can make your swap to solar power much easier. Plus, if you aren't sure what type of solar panels and equipment you want, a solar installer can help you find the right equipment for you after a site survey and consultation.
You can work with a local solar installer to get a free estimate on how much your investment in solar 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 West Lincoln
Factors that Affect Solar Panel Costs in West Lincoln
Cost is often one of the most important factors for homeowners who are considering investing in solar. There are a few key factors that will push your cost above or below the average in West Lincoln: solar equipment and system size, financing options and the solar installation company you choose. We'll go over each of these briefly 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 electricity your household uses, the larger your system will likely need to be. You can expect to pay about $2,730 per kilowatt in West Lincoln. The type of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you choose the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. On the other hand, more efficient panels could save you more over time on your electric bills. Additionally, add-on products, like solar batteries, can bring your total well above the West Lincoln average.
Solar Financing Terms
Solar panels can save you money on energy bills over many years, but they can also be a significant investment. That's why many West Lincoln homeowners choose to finance their solar panel systems to make going solar more affordable. It's wise to add 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 how long it'll take to pay off the loan.
Solar Panel Installation Company
The remaining significant cost factor you should take into consideration is the installer you choose. Given the booming popularity of green energy solutions in West Lincoln, you'll have plenty of options to choose from, but each comes at different price points for labor and equipment. Companies that only sell high-efficiency and high-priced products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come with an above-average cost. It's best to do some research and find a company that offers the products, warranties and services you're looking for and also fits within your budget.
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 | $10,082 | 13.5 years |
| 8 kW | $2.78 | $15,594 | $13,748 | 13.3 years |
| 10 kW | $2.73 | $19,110 | $17,568 | 13.0 years |
| 12 kW | $2.68 | $22,473 | $21,540 | 12.8 years |
| 14 kW | $2.62 | $25,684 | $25,665 | 12.5 years |
| 16 kW | $2.57 | $28,741 | $29,943 | 12.2 years |
| 18 kW | $2.51 | $31,646 | $34,374 | 12.0 years |
| 20 kW | $2.46 | $34,398 | $38,957 | 11.7 years |
How to Save on Solar Panels
The solar installer you go with will affect not only your overall costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are several important things you should keep in mind, such as:
- Reputation: Companies that have been operating for many years likely have a good reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide quality aftercare and customer support, such as part repairs and replacements.
- Contract: Before signing a contract with a solar company, make sure you look it over carefully so you understand the terms. Also, ask questions if you're not certain about some of the terms, such as what to do if a part breaks or malfunctions and if there are any guarantees about energy production.
- Solar Panel Brands: Each solar panel brand and type offers varying levels of quality, longevity and energy efficiency. They will come at different costs as well. The company you choose has an impact on which solar panel brands you have access to.
- Installation Process: When going solar, it's important to maintain an open line of communication with your solar panel company. Make sure you understand how the installation process will go and the completion timeline.
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 West Lincoln, IL Solar Cost FAQs
What is the average cost of installing solar panels in West Lincoln?
This is a tough question to answer exactly, because the cost depends on a few different factors. Broadly 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 other solar equipment or more efficient panels, or if you have higher-than-average energy consumption. On the other hand, you can spend less if you opt for a smaller solar panel system or less expensive solar panels.
Is it better to lease or buy solar panels in West Lincoln?
Leasing solar panels can be an attractive choice, as it usually comes with low or $0 upfront payments. The drawback 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 maximize your savings.
Is it worth going solar in West Lincoln?
Whether or not solar panels are worth it depends on a variety of factors like how much you pay for electricity and how much direct sunlight your roof gets.
How many solar panels do I need to power my home?
To figure out how many solar panels you need, you need to know how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average home 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.