Solar Panel Costs in Illinois: Unveiling the Price & Savings
Updated August 9, 2024 | 11 min read
Are you curious about solar panel costs in Illinois? With the state's growing adoption of renewable energy, understanding the pricing and potential savings is crucial for homeowners and businesses.
Lucky for homeowners in Illinois, the cost of solar panels has seen a decline of over 54% in the past decade. With the state's ample sunshine days and combined with appealing financial incentives, over 300,000+ homes and businesses in the Land of Lincoln have recognized the value of solar panels!
But how much does it cost to install solar panels in Illinois? Dive into our comprehensive breakdown of the costs of solar panels in Illinois below, or receive a personalized solar quote for your home in just a few minutes!
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How Much Do Solar Panels Cost In Illinois?
The most recent solar industry data shows that the cost of solar panels in Illinois ranges from $11,000 to $16,000, depending on your home's energy needs. Given the average home size in Illinois is approximately 1,800 sq ft., the average cost of solar panels in Illinois is around $13,122 prior to taking advantage of Illinois' solar incentives.
Here’s a more complete breakdown of the cost of solar panels in Illinois by home size.
Home Size (sq ft) |
System Size |
Average Costs |
|---|---|---|
| 1,500 - 1,750 | 4 kW | $11,409 |
| 1,750 - 2,000 | 5 kW | $13,122 |
| 2,000 - 2,300 | 6 kW | $15,905 |
| 2,300 - 2,500 | 7 kW | $18,449 |
| 2,500 - 2,800 | 8 kW | $20,390 |
| 2,800 - 3,000 | 10 kW | $22,806 |
** It's important to note that these costs DO NOT include the thousands you can save by utilizing Illinois solar incentives. See which solar financial incentives you qualify for by entering your zip code below!
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Factors That Impact Solar Costs in Illinois
Considering solar energy in Illinois? It's a wise choice. Many homeowners save big on monthly electric bills and do good for the planet. The cost for solar panels in Illinois depends on things like your home's energy use, the solar panels you pick, and if you want extras like batteries.
The starting cost can vary, but here's a fact: many in Illinois save between 40% and 60% on their electric bills with solar. For many, the solar panels pay for themselves in under ten years!
Costs for Installation & Labor
In Illinois, when you buy solar panels, you also pay for their setup. There are costs for things like installing the panels, getting the right permits, and making sure they're set up safely. This can add 10% to 20% to your total bill.
But there's some good news! In Illinois, there are ways to lower these starting costs. Want to learn more? Check out our guide on affordable solar setups in Illinois!
Equipment Costs for Solar
In Illinois, a significant portion of your solar budget, approximately 60-70%, is allocated to the primary equipment. This includes the panels, the inverters that convert sunlight into usable electricity, and the sturdy mounting racks that hold everything in place.
It's this vital gear that ensures you enjoy consistent, renewable power, protecting you from fluctuating utility prices. With technological advancements, these components have become more efficient and durable, maximizing the energy you get from every ray of sunshine.
Taxes on Solar in Illinois
Before diving into the solar world in Illinois, it's essential to be informed about potential tax implications. Adding solar panels can increase the overall value of your home, which might lead to a slight uptick in property taxes. However, it's not all added expenses; Illinois offers specific tax incentives for solar adopters, cushioning the financial impact and promoting clean energy.
To get a clear picture of how this might play out for you, simply input your details below. It's an opportunity to explore the tax breaks and benefits that the state provides for those looking to make an eco-friendly change.
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How to Reduce The Costs of Solar Panels in Illinois
Illinois offers numerous financial perks for residents looking into solar energy. With the state's dedication to green energy, there's a wealth of savings opportunities for those in Illinois.
Wondering about solar incentives you might be eligible for? Get in touch with Illinois solar experts for a detailed overview. They're on standby to outline the available solar discounts, guide you on the application process, and offer a personalized solar estimate suited to your property's specifics.
ROI on Solar | Solar Payback Period
Curious how fast solar panels can pay for themselves in Illinois? Given the present electricity rates and solar incentives, many homeowners discover their solar investment breaks even in just 7-9 years! Once the initial costs are covered, the savings keep rolling in, affirming solar as a savvy choice in Illinois.
Solar Financing Options in Illinois
Concerned about the starting costs of solar in Illinois? Fear not! Illinois has flexible options like power purchase agreements (PPAs) and solar loans. These mean you can kick off your solar journey without a hefty upfront payment. Through a PPA or a solar loan, you can reap the solar rewards straight away without draining your wallet.
Eyeing options with zero initial costs? Discover the various ways to get solar panels without any upfront payment in Illinois!
Illinois Solar Incentives
Illinois boasts a range of solar incentives. Residents can make the most of solar tax credits and an assortment of state rebates and advantages. These incentives can considerably slash the cumulative cost of switching to solar, making the solar transition in Illinois a shrewd move.
Dive into the comprehensive list of Illinois's solar incentives here.
Opting for solar in Illinois is both cost-effective and progressive. Leveraging the state's solar advantages and versatile financing solutions, you can join the renewable energy wave, harness sun's abundant energy, and secure significant savings!
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Are Solar Panels Worth it in Illinois?
Yes, for many homeowners in Illinois, going solar means saving money on electric bills and helping the environment. Illinois has a bunch of good deals and supports for solar, which makes it even more appealing.
This means many people in Illinois can earn back their money from solar panels pretty quickly. The cool thing? Once they're up, these panels keep working and almost give you free electricity for 20-30 years or even longer. Think about it: less money on bills and using green energy for many years!
Read Also: Is Solar Worth it in Illinois.
Getting solar in Illinois is simple and smart, especially if you have some help. You can quickly get a free quote that's just right for your house. They'll look at your home online, tell you about good deals for solar in Illinois, and give you an idea of how much you might save.
Take a look at solar for your home without any pressure. Join the many people in Illinois who are happy with their choice to go solar!
How We Gather Our Cost Data
We take a data-driven approach to the collection and analysis of solar costs to provide our readers with the most accurate information. Our methodology incorporates data from a variety of trustworthy sources including:
- Primary Sources: Every year we survey over 100 Illinois homeowners with solar panels to analyze pricing data based on direct consumer experience.
- Trusted Resources: We leverage verified datasets and industry reports from authoritative sources including:
- U.S. Department of Energy (DOE)
- National Renewable Energy Laboratory (NREL)
- U.S. Energy Information Administration (EIA)
- Solar Energy Industries Association (SEIA)
- Expert Insights: We regularly consult with dozens of experienced solar professionals across the nation who are familiar with the latest trends, equipment and solar energy pricing in local markets.
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Why Trust EcoGen?
At EcoGen America, we take pride in the credibility of our information and ensure its accuracy by cross-referencing our data with esteemed institutions such as the U.S. Department of Energy (DOE), the Solar Energy Industries Association (SEIA), and the National Renewable Energy Laboratory (NREL). Our rigorous validation process underscores our commitment to delivering trustworthy and up-to-date solar content with editorial integrity. Our partners do not direct our editorial content. Learn more
