Solar Panel Cost Guide in Wood River, IL (Feb 2023)
- Wood River Solar Installation Cost: $11,695
- 25-Year Savings: $10,580
- Payback Period: 13.1 Years
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Top Solar Installers in Wood River
Installing solar panels on your own can be a difficult task, which is why hiring a solar installer is a good option for many homeowners. The expertise that solar companies provide can be invaluable as well, particularly if you aren't sure what kind of solar equipment would be right for your home.
You can get a free estimate from a local solar installer on the cost of solar panels for your home. Here are some nearby:
See all of the solar companies in Wood River
Factors that Affect Solar Panel Costs in Wood River
There are several criteria that can influence your total installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that performs the installation.
When it comes to estimating the price of a solar panel system in Wood River, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home's energy consumption, which you can gauge by looking at past power bills. Your total cost can increase by about $2,730 for each additional kilowatt you need. Some solar brands — like Maxeon from SunPower — cost more upfront but also tend to offer higher efficiency. In a city like Wood River, where sunlight is relatively abundant, efficiency can quickly pay off. Plus, if you have a small roof or limited space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Most solar companies in Wood River offer solar loans, which reduce the initial cost of installing solar. When trying to figure out your overall cost, you should also calculate the interest you'll pay if you choose to go with a solar loan. Also, paying more on your down payment can lower the total interest paid over time.
Solar Panel Installation Company
A final factor to consider when trying to figure out the cost of solar for your home or business in Wood River is the company you get to install your solar system. Similar to choosing a company to install new cabinets, for example, there are plenty of solar installers that provide a range of services for different budgets. The size of the company sometimes plays the most considerable role in your costs. Larger national companies, like SunPro and Sunrun, often have lower pricing because they have access to greater resources and bulk pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or promotion can bring their pricing lower to compete with bigger names.
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||$9,923||13.6 years|
|8 kW||$2.78||$15,594||$13,536||13.4 years|
|10 kW||$2.73||$19,110||$17,302||13.1 years|
|12 kW||$2.68||$22,473||$21,221||12.9 years|
|14 kW||$2.62||$25,684||$25,293||12.6 years|
|16 kW||$2.57||$28,741||$29,518||12.3 years|
|18 kW||$2.51||$31,646||$33,895||12.1 years|
|20 kW||$2.46||$34,398||$38,426||11.8 years|
How to Save on Solar Panels
Since the brand of solar panels and the installer you choose greatly affects your costs and your system's efficiency, production, and durability, it's important to pick the right ones for you. Here are some things to keep in mind to help with your decision:
- Reputation: Your solar installer should have a solid reputation as a company and have verifiable expertise in the field. Two ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from past customers.
- Warranty: Many companies offer different types of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Contract: When reading over your solar installer's contract, ask questions about any terms you're not sure of and make sure you understand what happens in scenarios like a system part breaking or if the company goes out of business.
- Solar Panel Brands: The kind of solar panel you need to get plays a role in which company you should go with, since different companies have access to different panels.
EcoWatch's Wood River, IL Solar Cost FAQs
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.