Solar Panel Cost Guide in Bourbon, IL (2024 Update)
- Bourbon Solar Installation Cost: $16,547
- 25-Year Savings: $14,333
- Payback Period: 15.7 Years
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Average Cost of Solar Panels in Bourbon
Let’s have a look at the average cost of solar in Bourbon.
The national average cost of solar panels is $2.66 per watt, but in Bourbon it’s 4 per watt.Because a 6.3-kW system is needed to cover the energy costs of a typical home in Bourbon, the average price of going solar will be about $16,547 after claiming the federal solar tax credit of 0.
The prices above are just estimates to give you an idea of the cost of a solar panel system. The actual cost of installing solar panels can vary depending on multiple factors, such as what size system you need, your energy consumption and what solar installer you go with.Despite the significant initial cost, the average Bourbon homeowner can save around $16,000 on their electricity bills over 20 years, which is one of the perks of solar.
Click the button below to get connected to a reputable solar company in Bourbon for a custom estimate.
Solar savings over time in Bourbon
| Year | Return on Investment |
|---|---|
| 1 years | $-15,697 |
| 3 years | $-13,996 |
| 5 years | $-12,294 |
| 7 years | $-10,593 |
| 9 years | $-8,892 |
| 11 years | $-7,190 |
| 13 years | $-5,489 |
| 15 years | $-3,788 |
| 17 years | $-2,087 |
| 19 years | $-385 |
| 21 years | $1,316 |
| 23 years | $3,017 |
| 25 years | $4,719 |
Top Solar Installers in Bourbon
Although it's possible to install solar panels on your own, it requires extra effort and know-how. Because of that, most people choose to go with a solar panel installer. In addition, if you’d like to maximize your investment in solar, going with a solar installer can help with that as well. Different providers can offer repairs, expertise on how to install solar panels and sometimes even information on local incentives, rebates and net metering programs.
There are several licensed solar professionals that can help you install your solar system. 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 Bourbon
Factors that Affect Solar Panel Costs in Bourbon
Cost is typically one of the most important factors for homeowners considering investing in solar. There are a few key factors that affect your total cost in Bourbon: 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
Solar system size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of installing solar panels. Because of that, it’s a priority to accurately assess the size of the solar energy system needed for your home by figuring out your average energy use.There are several different solar panel brands and the one you choose also affects the cost. Usually, the brands that have better efficiency tend to also cost more. Plus, the type of equipment you’re looking 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
Solar panels can save you money on utility bills over time, but they can also be a big investment. That’s why many Bourbon homeowners choose to finance their solar panel systems to make paying for solar more affordable.It’s wise to add the interest you’ll pay in your final cost estimate. If you can afford to pay a higher down payment, you can reduce your total costs and the amount of time it’ll take to pay off the loan.
Solar Panel Installation Company
The solar company you opt for to handle your switch to sustainable energy can have an effect on your total costs. There are about 3 solar installation companies in Bourbon, and each can charge different amounts for labor and equipment.Companies that only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come at a higher cost. It’s best to do some research and choose a company that offers the products, warranties and services you want and also fit into 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 | $8,721 | 16.3 years |
| 8 kW | $3.84 | $21,477 | $12,049 | 16.0 years |
| 10 kW | $3.76 | $26,320 | $15,588 | 15.7 years |
| 12 kW | $3.68 | $30,952 | $19,337 | 15.4 years |
| 14 kW | $3.61 | $35,374 | $23,297 | 15.1 years |
| 16 kW | $3.53 | $39,585 | $27,467 | 14.8 years |
| 18 kW | $3.46 | $43,586 | $31,848 | 14.4 years |
| 20 kW | $3.38 | $47,376 | $36,439 | 14.1 years |
How to Save on Solar Panels
Since the kind of solar panels and the installation company you choose significantly impacts your costs and your system’s durability and efficiency, it’s important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for sustainable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a solid reputation and is qualified to install your solar system. Another way you can check your installer’s reputation is by reading reviews.
- Solar Panel Brands: Different companies offer different brands and models of panels. If you prefer a specific brand, make sure the solar company you’re considering has it.
- Installation Process: Make sure you’re on the same page with the installer regarding how the installation process will go and what you need to do before your solar system is installed, such as updating your electrical system or roof.
- Warranty: If you care about the durability of your solar system, making sure your installer offers a 25-year, all-inclusive warranty can give you some peace of mind.
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 Bourbon, IL Solar Cost FAQs
How much does it cost to install solar panels in Bourbon?
The average cost of solar panels in Bourbon 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 certain factors like the model of solar panels you want, what size system you need and how much energy you consume.
What other factors should I consider apart from cost when buying solar panels?
Cost is definitely one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Can solar panels significantly reduce my energy bills?
It is possible to eliminate your electricity bills with solar panels, but for most homeowners throughout Bourbon, that will require at least a 10-kW system. Not all homes will have roofs that can accommodate that size system, so you’ll want to contact a local solar installer to see how many panels can fit on your roof.
How long do solar panels last in Bourbon?
Even though 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 choose to replace them after having them for that long or you can continue to use 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.