Solar Panel Cost Guide in Bloomington, IL (2024 Update)
- Bloomington Solar Installation Cost: $16,692
- 25-Year Savings: $11,096
- Payback Period: 18.0 Years
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Average Cost of Solar Panels in Bloomington
See how much it might cost to make the switch to solar in Bloomington.
The average cost of a solar system in Bloomington is 4 per watt.Using this figure, a typical 6.3-kW system would cost about $16,692 before the 0 federal solar tax credit is applied.
These figures are just averages, and how much solar costs for you may vary based on your energy needs and what company you go with.Many homeowners find going solar is a sound investment. The average homeowner in Bloomington can save about $14,000 on their power bills over 20 years.
For a customized quote from a local solar installer that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Bloomington
| Year | Return on Investment |
|---|---|
| 1 years | $-15,842 |
| 3 years | $-14,140 |
| 5 years | $-12,439 |
| 7 years | $-10,738 |
| 9 years | $-9,036 |
| 11 years | $-7,335 |
| 13 years | $-5,634 |
| 15 years | $-3,933 |
| 17 years | $-2,231 |
| 19 years | $-530 |
| 21 years | $1,171 |
| 23 years | $2,873 |
| 25 years | $4,574 |
Top Solar Installers in Bloomington
Do-it-yourself solar panel installation is a possibility, but it's an undertaking that can take a lot of hard work. Taking advantage of a solar company can make your swap to solar power much easier. Also, companies with an outstanding reputation that cost more upfront could actually save you money in the long run due to their warranties, repair services and expert design.
There are several licensed solar professionals that can install solar panels for you. Here are our suggestions:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
See all of the solar companies in Bloomington
Factors that Affect Solar Panel Costs in Bloomington
Cost is typically one of the most important factors for homeowners who want to invest in solar. There are a few key factors that will push your cost above or below the average in Bloomington: 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 important factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more energy your household consumes, the larger your system will likely need to be. You can expect to pay about $3,760 per kilowatt in Bloomington.The brand and type of equipment you choose for your solar system can raise or lower the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these often have a higher price tag than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have limited roof space or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to more savings over time. Plus, if you want additional equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
If paying for a solar system in cash is too expensive, solar loans are an affordable route because they decrease your upfront costs and let you pay for your system over five to seven years on average.It’s wise to factor 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 the amount of time it’ll take to pay back the loan.
Solar Panel Installation Company
A final factor to keep in mind when trying to estimate the cost of solar for your home or business in Bloomington is the company you get to install your solar system. As with choosing a company to renovate your kitchen, for example, you’ll have no shortage of solar installers that offer a range of services at different costs.Some companies 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 decide on the company that offers the products, warranties and services you’re looking for and also is 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 | $3.91 | $16,424 | $5,540 | 18.7 years |
| 8 kW | $3.84 | $21,477 | $7,807 | 18.3 years |
| 10 kW | $3.76 | $26,320 | $10,286 | 18.0 years |
| 12 kW | $3.68 | $30,952 | $12,975 | 17.6 years |
| 14 kW | $3.61 | $35,374 | $15,874 | 17.3 years |
| 16 kW | $3.53 | $39,585 | $18,984 | 16.9 years |
| 18 kW | $3.46 | $43,586 | $22,304 | 16.5 years |
| 20 kW | $3.38 | $47,376 | $25,836 | 16.2 years |
How to Save on Solar Panels
There are a lot of companies available in Bloomington, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be difficult, so here are some tips to help you decide:
- Installation Process: An important thing to understand when going solar is the installation process itself. Be sure to clarify any details you need to know with your solar company, such as what permits you should acquire and how long the project will take.
- Contract: Review the contract terms carefully to make sure you understand how much it will cost, completion timeline incentives and warranties.
- Reputation: Solar system installers that have great reviews from their customers and that have been operating for many years likely offer good-quality solar panel installation and expertise.
- Solar Panel Brands: Not all solar installers have the same brands of solar panels, so the brand and type of panel you want can play a big role in the company you hire.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
EcoWatch's Bloomington, IL Solar Cost FAQs
How much does it cost to install solar panels in Bloomington?
The average cost of solar panels in Bloomington is about $18,800 for a 5-kW system and $37,600 for a 10-kW system before the ITC, but the real cost will depend on things like the kind of solar panels you want, what size system you need and how much energy you use.
What other factors should I consider other than cost when buying solar panels?
Cost is a key factor to consider, but whether it’s the most important for you depends on your reasons for going solar. In cities where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to take into account are the quality and durability of your solar panels.
Is it worth going solar in Bloomington?
Solar panels can be a beneficial investment for most homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your electricity bills are already pretty low, solar panels might not be for you.
How long do solar panels last in Bloomington?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is their energy production will have decreased significantly after that point. You can decide to replace them once you've had them for that long or you can keep using them at a lower efficiency.
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.