Solar Panel Cost Guide in Coal City, IL (2024 Update)
- Coal City Solar Installation Cost: $16,967
- 25-Year Savings: $10,292
- Payback Period: 18.8 Years
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Average Cost of Solar Panels in Coal City
Find out what the average cost of solar panels are in Coal City.
In Coal City, solar panels cost about 4 per watt on average.The average Coal City homeowner needs a 6.4-kilowatt system, which would cost about $16,967 with the federal tax credit, or $24,263 before the 0 tax credit is applied.
The prices above are just estimates to give you an idea of how much a solar energy system could cost. The true cost of going solar can vary depending on a few factors, such as how many panels you need, your energy consumption and what solar installer you go with.With typical savings of about $13,000 on electricity bills over 20 years, many homeowners in Coal City find investing in solar can pay off big.
You can click the button below to get connected with a top solar installer in Coal City for a quote for your home.
Solar savings over time in Coal City
| Year | Return on Investment |
|---|---|
| 1 years | $-15,811 |
| 3 years | $-13,499 |
| 5 years | $-11,186 |
| 7 years | $-8,874 |
| 9 years | $-6,562 |
| 11 years | $-4,249 |
| 13 years | $-1,937 |
| 15 years | $375 |
| 17 years | $2,688 |
| 19 years | $5,000 |
| 21 years | $7,312 |
| 23 years | $9,625 |
| 25 years | $11,937 |
Top Solar Installers in Coal City
When going solar, many homeowners decide to use a solar company since overseeing your solar installation yourself can be a difficult project. The expertise that solar installers offer can be helpful as well, particularly if you aren’t sure what type of solar equipment would be right for your home.
Working with a vetted solar company can help your solar project go smoothly. Here are our recommendations:
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 Coal City
Factors that Affect Solar Panel Costs in Coal City
Though the average cost of a solar system in Coal City is $16,967, your final cost may be higher or lower than that. There are many factors that can have a sizable impact on the cost of a solar system installation. Below are some of the more crucial things to consider.
Solar Equipment
When it comes to estimating the cost of a solar energy system in Coal City, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home’s energy consumption, which you can determine by looking at past power bills. Your overall cost can increase by about $3,760 for each additional kilowatt you need.The type of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you opt for the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. However, more efficient panels could save you more in the long run on your electric bills. In addition, add-on products, like solar batteries, can bring your total well above the Coal City average.
Solar Financing Terms
If paying for solar panels out of pocket is difficult, solar loans are a solid option because they lower your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years.When estimating your overall cost, you should also calculate the interest you’ll pay if you opt for a solar loan. Also, paying a higher down payment can lower the total interest paid over time.
Solar Panel Installation Company
Finally, the company you choose to install your solar panels can impact how much you pay. Coal City’s solar companies all have different labor costs and add varying upcharges to equipment. The company’s size can sometimes play the most significant role in the cost of installation. Larger national companies, like SunPro and Sunrun, often have lower pricing because they have greater resources and better pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or discount can bring their pricing lower to compete with bigger names.
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 | $4,622 | 19.5 years |
| 8 kW | $3.84 | $21,477 | $6,583 | 19.1 years |
| 10 kW | $3.76 | $26,320 | $8,755 | 18.8 years |
| 12 kW | $3.68 | $30,952 | $11,138 | 18.4 years |
| 14 kW | $3.61 | $35,374 | $13,732 | 18.0 years |
| 16 kW | $3.53 | $39,585 | $16,535 | 17.6 years |
| 18 kW | $3.46 | $43,586 | $19,550 | 17.3 years |
| 20 kW | $3.38 | $47,376 | $22,775 | 16.9 years |
How to Save on Solar Panels
The solar panel company you opt for will be a major factor in determining not only your overall costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are several important things you should keep in mind, including:
- Warranty: A quality company rises above other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Solar Panel Brands: The model of solar panel you’d like to get plays a role in which installer you should choose, since different companies have access to different panels.
- Contract: Before signing a contract with a solar company, make sure you look it over carefully so you understand the terms. Also, ask questions if you’re unsure about some of the terms, such as what the warranty covers and what services you can expect from them.
- Reputation: Make sure your solar system installer has a good reputation by verifying it has certifications and licenses, checking its work history and reading reviews by previous customers and solar experts like the EcoWatch team.
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 Coal City, IL Solar Cost FAQs
What is the average cost of installing solar panels in Coal City?
This is a difficult question to answer exactly, because the cost depends on a few different factors. Generally speaking, it costs about $18,800 for a 5-kW system and $37,600 for a 10-kW system after the ITC is applied. You can expect to pay more if you want other solar equipment or more efficient panels, or if you have above-average energy usage. On the other hand, you can spend less if you go with a smaller solar panel system or cheaper solar panels.
Are solar panels free in Coal City?
Solar panels aren’t free in Coal City, but there are some options that can make getting them more affordable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can help lower the cost.
Does Coal City have a net metering program?
Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just give you credit toward your future energy bills.
How long do solar panels last in Coal City?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger level of energy production.
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.