Solar Panel Cost Guide in West Peoria, IL (2023 Update)
- West Peoria Solar Installation Cost: $12,192
- 25-Year Savings: $7,638
- Payback Period: 15.4 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in West Peoria
Let's take a look at the average cost of solar in West Peoria.
The average cost of solar panels in West Peoria is 2.73 per watt. Since a 6.4-kW system is needed to cover the energy costs of a typical home in West Peoria, the average price of going solar will be about $12,192 after claiming the federal solar tax credit of 30%.
Keep in mind that the figures above are only estimates based on the average West Peoria homeowner. The cost 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. Even with the high upfront cost, the average West Peoria homeowner can save around $12,000 on their energy bills over 20 years, which is one of the benefits of solar.
To calculate your potential ROI and connect with a local solar expert, click the button below.
Solar savings over time in West Peoria
| Year | Return on Investment |
|---|---|
| 1 years | $-11,399 |
| 3 years | $-9,813 |
| 5 years | $-8,226 |
| 7 years | $-6,640 |
| 9 years | $-5,053 |
| 11 years | $-3,467 |
| 13 years | $-1,880 |
| 15 years | $-294 |
| 17 years | $1,292 |
| 19 years | $2,879 |
| 21 years | $4,465 |
| 23 years | $6,052 |
| 25 years | $7,638 |
Top Solar Installers in West Peoria
When making the switch to solar, many homeowners opt to hire a solar company since DIY solar panel installation can be a time-consuming project. Another great thing about using a vetted solar installer is that it'll likely provide warranties and free repairs, which help protect your solar investment.
If you're on the hunt for a solar installer in West Peoria, the EcoWatch team has put together a list of our top suggestions here:
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 West Peoria
Factors that Affect Solar Panel Costs in West Peoria
There are several factors that can influence your solar system installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that performs the installation.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to some different factors. One of the main factors is the system size, which is measured in kilowatts (kW). Solar power systems that have better efficiency or power production need better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $2,730. There are a lot of different solar panel brands and the one you pick also affects the cost. Generally, the brands that are more efficient tend to also be more expensive. Additionally, the type of equipment you want to install can affect your total cost. If you only need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Most solar installers in West Peoria have solar loans, which reduce your upfront costs of installing solar panels. However, the interest on solar loans also adds to your overall costs, so it's vital to take that into consideration as well. You can always lower the total you pay in interest and possibly even your APR by putting more money down.
Solar Panel Installation Company
A final consideration when trying to evaluate the cost of solar for your home or business in West Peoria is the company you hire to install your PV system. As with choosing a company to build a deck or pool, for example, there's no shortage of solar installers that offer a range of services at different costs. The size of the company sometimes plays the most considerable role in your costs. Larger national companies, like SunPro and Sunrun, often have lower prices because of access to greater resources and bulk pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or promotion can bring their pricing lower to compete with bigger 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 | $6,718 | 16.0 years |
| 8 kW | $2.78 | $15,594 | $9,263 | 15.7 years |
| 10 kW | $2.73 | $19,110 | $11,961 | 15.4 years |
| 12 kW | $2.68 | $22,473 | $14,811 | 15.1 years |
| 14 kW | $2.62 | $25,684 | $17,815 | 14.8 years |
| 16 kW | $2.57 | $28,741 | $20,972 | 14.5 years |
| 18 kW | $2.51 | $31,646 | $24,281 | 14.1 years |
| 20 kW | $2.46 | $34,398 | $27,743 | 13.8 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you decide on the right company for you, here are some tips to keep in mind:
- Warranty: A high-quality company rises above other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Solar Panel Brands: Each solar panel brand and kind offers varying levels of quality, longevity and efficiency. They will come at different costs as well. The company you choose impacts which solar panel brands you have access to.
- Installation Process: Homeowners should understand how exactly the installation process will be carried out, as well as important factors like the project timeline.
- Contract: Even though reading through a contract can be tedious, it's important to do it carefully so you can make sure you understand how much the equipment and services will cost and the terms of the warranty.
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 West Peoria, IL Solar Cost FAQs
What is the average cost of installing solar panels in West Peoria?
The average cost of solar panels in West Peoria is about $13,650 for a 5-kW system and $27,300 for a 10-kW system before the ITC, but the actual cost will depend on things such as the kind of solar panels you want, what size system you need and how much energy you use.
Can you get solar panels for free in West Peoria?
A solar panel system isn't free in West Peoria, but there are some options that can make getting them more affordable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can further reduce the cost.
Can solar panels significantly reduce my electricity bills?
It is possible to eradicate your electricity bills with solar panels, but for most homeowners throughout West Peoria, that will require at least a 10-kW system. Not all homes can accommodate that size system, so you'll want to check with a local solar installer to see how many panels can fit on your roof.
How often do you have to replace solar panels?
On average, solar panels can last 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 higher 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.