Solar Panel Cost Guide in Cahokia, IL (2024 Update)
- Cahokia Solar Installation Cost: $16,000
- 25-Year Savings: $12,355
- Payback Period: 16.7 Years
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Average Cost of Solar Panels in Cahokia
Let’s have a look at the average cost of solar in Cahokia.
In Cahokia, solar panels cost about 4 per watt on average.To account for the typical energy needs of the average home in Cahokia, most homeowners require a 6.1-kilowatt system. Using the per-watt figure above, a solar installation costs about $16,000, or $22,880 before the federal solar tax credit of 0 is applied.
Bear in mind that the figures above are only estimates based on the average Cahokia homeowner. The cost of a solar system for your home may look different depending on factors unique to you, like your household energy use and solar contractor.Even with the high upfront cost, the average Cahokia homeowner can save about $15,000 on their power bills over 20 years, which is one of the perks of solar.
To calculate your potential savings and connect with a local solar expert, click the button below.
Solar savings over time in Cahokia
| Year | Return on Investment |
|---|---|
| 1 years | $-15,149 |
| 3 years | $-13,448 |
| 5 years | $-11,746 |
| 7 years | $-10,045 |
| 9 years | $-8,344 |
| 11 years | $-6,643 |
| 13 years | $-4,941 |
| 15 years | $-3,240 |
| 17 years | $-1,539 |
| 19 years | $163 |
| 21 years | $1,864 |
| 23 years | $3,565 |
| 25 years | $5,267 |
Top Solar Installers in Cahokia
When going solar, many homeowners opt to hire a solar installation company since DIY solar panel installation can be a difficult project. Plus, if you aren’t sure what kind of solar panels and equipment you want, a solar installer can help you find the right equipment for you after a site survey and consultation.
If you're on the hunt for a solar company in Cahokia, we've organized a list of our top suggestions here:
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 Cahokia
Factors that Affect Solar Panel Costs in Cahokia
For many Cahokia homeowners, the decision to adopt solar energy rests on cost. However, the range of solar installation costs can be quite wide in Cahokia, with typical prices between $20,000 to $40,000. There are a number of factors that significantly influence the price you’ll pay, which we'll go over below.
Solar Equipment
One of the most significant 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 uses, the larger your system will likely need to be. You can expect to pay around $3,760 per kilowatt in Cahokia.The solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you get the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. On the other hand, higher efficiency could save you more in the long run on your electric bills. Additionally, extra products, like solar batteries, can bring your total well above the Cahokia average.
Solar Financing Terms
Most solar installers in Cahokia offer solar loans, which reduce your upfront costs of installing solar.Even though solar loans make switching to solar energy more accessible for Cahokia homeowners, they can also add to the total you pay for your system, depending on your interest rate. If you put down a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
The solar company you select will impact your total cost to adopt solar energy. Different companies will charge different amounts for the equipment and labor.Larger national companies usually have lower costs, but some local companies keep up with them by offering sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or additional services like electric car charger installation, they might be cheaper overall.
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 | $7,237 | 17.4 years |
| 8 kW | $3.84 | $21,477 | $10,071 | 17.0 years |
| 10 kW | $3.76 | $26,320 | $13,115 | 16.7 years |
| 12 kW | $3.68 | $30,952 | $16,370 | 16.4 years |
| 14 kW | $3.61 | $35,374 | $19,835 | 16.0 years |
| 16 kW | $3.53 | $39,585 | $23,510 | 15.7 years |
| 18 kW | $3.46 | $43,586 | $27,397 | 15.4 years |
| 20 kW | $3.38 | $47,376 | $31,494 | 15.0 years |
How to Save on Solar Panels
Since the model of solar panels and the company you choose significantly impacts your costs and your system’s efficiency, production, and durability, it’s important to select the right ones for you. Here are some things to keep in mind to help with your decision:
- Warranty: An all-inclusive, 25-year warranty can help keep your solar panel system running for a long time and save you money on part replacement and repairs.
- Installation Process: Make sure you’re aligned with the company in regard to how the installation process will go and what needs to be done before your solar panels are installed, such as updating your electrical system or roof.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and how much efficiency they need. While there are many options for which kind of solar panel you can get, not every company will have access to the exact one you may want or need, so be sure to ask for their list of options before making your decision.
- Reputation: Solar system installers that have great reviews from their customers and that have been operating for many years likely offer quality solar panel installation and expertise.
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 Cahokia, IL Solar Cost FAQs
What is the average cost of installing solar panels in Cahokia?
The average cost of solar panels in Cahokia 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 stuff such as the model of solar panels you want, what size system you need and how much energy you use.
Should I lease or buy solar panels in Cahokia?
Leasing solar panels can be an option if you can’t pay upfront or get a solar loan, but since you don’t own the system, you don’t have access to many solar incentives. Also your home value won’t increase, so you’ll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most savings from going solar.
How will having solar panels impact my home value?
Solar panels can increase your property’s value remarkably as long as you buy or finance your panels and don’t choose a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing solar panels."
What solar power system size is right for my home?
To figure out how many solar panels you need, you need to know how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can generally produce about 250 to 400 watt-hours per hour, the average house will need 20 to 35 panels.
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.