Solar Panel Cost Guide in Effingham, IL (2024 Update)
- Effingham Solar Installation Cost: $16,374
- 25-Year Savings: $12,991
- Payback Period: 16.5 Years
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Average Cost of Solar Panels in Effingham
Find out what the average cost of solar panel installation is in Effingham.
The average cost of solar panels in Effingham is 4 per watt.Using this figure, a typical 6.2-kW system would cost about $16,374 before the 0 federal solar tax credit is applied.
These figures are just estimates, and the cost of going solar for you may look different based on factors unique to your home and what company you go with.With typical savings of about $15,000 on electricity bills over 20 years, many homeowners in Effingham find going solar has a decent ROI.
Click the button below to get connected to a reputable solar company in Effingham for a personalized estimate.
Solar savings over time in Effingham
| Year | Return on Investment |
|---|---|
| 1 years | $-15,523 |
| 3 years | $-13,822 |
| 5 years | $-12,120 |
| 7 years | $-10,419 |
| 9 years | $-8,718 |
| 11 years | $-7,017 |
| 13 years | $-5,315 |
| 15 years | $-3,614 |
| 17 years | $-1,913 |
| 19 years | $-211 |
| 21 years | $1,490 |
| 23 years | $3,191 |
| 25 years | $4,892 |
Top Solar Installers in Effingham
Many homeowners opt for a solar installation company since trying to put up solar panels yourself can be a lot of work. Another advantage of using a solar installer is that they can help you optimize your investment by cutting back on future costs of repairs and replacements due to warranties and informing you of local incentives you can take advantage of.
If you're on the hunt for a solar company in Effingham, 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 Effingham
Factors that Affect Solar Panel Costs in Effingham
Though the average cost of a solar system in Effingham is $16,374, your final cost may differ. There are many factors that can have a significant impact on the cost of a solar panel installation. Below are some of the more important things to take into consideration.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of going solar. 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 energy needs.There are many different solar panel brands and the one you pick also affects the cost. Usually, the brands that offer higher efficiency tend to also be more expensive. In addition, the type of equipment you want to install can affect your total cost. If you just need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be difficult. Solar loans are available from most installers in Effingham, which can reduce, or in some cases totally eliminate, your upfront costs to make solar more accessible.However, the interest on solar loans also adds to your total costs, so it’s crucial to take that into consideration as well. You can always bring down the total you pay in interest and in some cases even your APR by putting more money down.
Solar Panel Installation Company
The last key cost factor you should take into consideration is the installer you choose. Given the booming popularity of green energy solutions in Effingham, you’ll have many options to choose from, but each comes at varying price points for labor and equipment.The size of the company can sometimes play the most significant role in the cost. Larger national companies, like SunPro and Sunrun, often have lower pricing due to access to more resources and better pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or promotion 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 | $7,572 | 17.1 years |
| 8 kW | $3.84 | $21,477 | $10,517 | 16.8 years |
| 10 kW | $3.76 | $26,320 | $13,673 | 16.5 years |
| 12 kW | $3.68 | $30,952 | $17,039 | 16.1 years |
| 14 kW | $3.61 | $35,374 | $20,616 | 15.8 years |
| 16 kW | $3.53 | $39,585 | $24,403 | 15.5 years |
| 18 kW | $3.46 | $43,586 | $28,401 | 15.1 years |
| 20 kW | $3.38 | $47,376 | $32,610 | 14.8 years |
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because picking a company can be a tough decision, we have some tips to help you, such as:
- Solar Panel Brands: Not all solar companies have the same brands of solar panels, so the brand and type of panel you want can play a considerable role in the company you go with.
- Warranty: Warranties that provide coverage for defective panels and repairs over a couple decades are the best you can get in the business, and offering such a warranty is one indication of a quality company.
- Installation Process: Homeowners should understand how exactly the installation process will be carried out, as well as important factors like the completion timeline.
- Reputation: Your solar installer should have a good reputation as a company and have demonstrated expertise in the field. A couple of ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has good reviews from previous customers.
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 Effingham, IL Solar Cost FAQs
How much does it cost to install solar panels in Effingham?
The average cost of solar panels in Effingham 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 things such as the model of solar panels you want, what size system you need and how much energy you use.
Are solar panels free in Effingham?
A solar panel system isn’t free in Effingham, 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.
How will having solar panels impact my home value?
Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Effingham is currently $215,552, which means you could be looking at a value of about $8,838 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Effingham is a fruitful investment.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy usage and the average daily sunlight your roof gets. You can take a look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to get between 20 and 35 panels to account for their typical energy usage.
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.