Solar Panel Cost Guide in Cherry Valley, IL (2024 Update)
- Cherry Valley Solar Installation Cost: $17,167
- 25-Year Savings: $11,738
- Payback Period: 19.0 Years
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Average Cost of Solar Panels in Cherry Valley
Let’s have a look at the average cost of solar panels in Cherry Valley.
The national average cost of solar panels is $2.66 per watt, but in Cherry Valley it’s 4 per watt.The average solar panel system size in Cherry Valley is around 6.5 kilowatts, meaning a cost of about $17,167 for a solar installation, or $24,549 before the 0 federal solar tax credit is applied.
These figures are only averages, and how much solar costs for you will differ based on your specific situation and what company you want to go with.For most homeowners, the upfront cost of solar is worth paying. On average you could be looking at about $13,000 in savings on electricity bills over 20 years.
Click the button below to get connected to a reputable solar company in your area for a personalized estimate.
Solar savings over time in Cherry Valley
| Year | Return on Investment |
|---|---|
| 1 years | $-16,011 |
| 3 years | $-13,698 |
| 5 years | $-11,386 |
| 7 years | $-9,074 |
| 9 years | $-6,761 |
| 11 years | $-4,449 |
| 13 years | $-2,137 |
| 15 years | $176 |
| 17 years | $2,488 |
| 19 years | $4,801 |
| 21 years | $7,113 |
| 23 years | $9,425 |
| 25 years | $11,738 |
Top Solar Installers in Cherry Valley
When going solar, many homeowners prefer to use a solar installation company since installing solar panels yourself can be a time-consuming project. Solar warranties and repairs are ordinarily included in the cost of installation when you hire a solar company as well, which can save you more money after your upfront investment.
If you're searching for a solar installer in Cherry Valley, 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 Cherry Valley
Factors that Affect Solar Panel Costs in Cherry Valley
Cost is typically one of the most important factors for homeowners considering investing in solar. There are a few primary factors that will push your cost above or below the average in Cherry Valley: solar equipment and system size, financing options and the solar installation company you choose. We’ll cover each of these briefly below.
Solar Equipment
The size of the solar panel system you need, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by around $3,760. Some solar brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer higher efficiency. In a city like Cherry Valley, where sunlight is relatively abundant, efficiency can quickly pay off. Also, if you have a small roof or you don’t have a lot of 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 Cherry Valley have solar loans, which reduce your upfront costs of installing a solar system.It’s wise to add 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
The last key cost factor you should consider is the installer you choose. Given the booming popularity of sustainable energy solutions in Cherry Valley, you’ll have many options to choose from, but each comes at different price points for labor and equipment.Additionally, some companies in Cherry Valley know more about local solar incentives and can help you take advantage of additional rebates or tax exemptions. Though, they may charge more for that service. Even if they cost more upfront, they could end up saving you more money in the long run.
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 | $4,377 | 19.7 years |
| 8 kW | $3.84 | $21,477 | $6,257 | 19.4 years |
| 10 kW | $3.76 | $26,320 | $8,348 | 19.0 years |
| 12 kW | $3.68 | $30,952 | $10,649 | 18.6 years |
| 14 kW | $3.61 | $35,374 | $13,161 | 18.2 years |
| 16 kW | $3.53 | $39,585 | $15,883 | 17.8 years |
| 18 kW | $3.46 | $43,586 | $18,816 | 17.5 years |
| 20 kW | $3.38 | $47,376 | $21,960 | 17.1 years |
How to Save on Solar Panels
Since the brand of solar panels and the company you choose has an impact on your costs and your system’s durability and efficiency, it’s important to pick the right ones for you. Here are some things to keep in mind to help with your decision:
- Warranty: If you’re concerned about the durability of your solar system, verifying that your installer offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Contract: Read the contract terms carefully to make sure you understand the total cost, project timeline rebates and warranties.
- Solar Panel Brands: Each solar panel brand and type offers varying levels of quality, longevity and energy efficiency. They will come at different price points as well. The company you choose affects which solar panel brands you have access to.
- Reputation: Companies that have been operating for many years likely have a good reputation. This is important because it ensures that it will not only see your solar project through, but will also provide quality aftercare and customer support, such as part repairs and replacements.
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 Cherry Valley, IL Solar Cost FAQs
What is the average cost of installing solar panels in Cherry Valley?
The average cost of solar panels in Cherry Valley is about $18,800 for a 5-kW system and $37,600 for a 10-kW system before the ITC, but the actual cost will depend on certain factors like the kind of solar panels you want, what size system you need and how much energy you consume.
Is cost the most important thing to keep in mind when buying solar panels?
Cost is certainly one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Is it worth going solar in Cherry Valley?
Whether or not solar panels are worth it depends on a variety of factors like the cost of electricity near you and the amount of direct sunlight your roof gets.
How many solar panels do I need to power my home?
To figure out how many solar panels you need, you should find out how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can usually 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.