Solar Panel Cost Guide in Empire, IL (2024 Update)
- Empire Solar Installation Cost: $16,692
- 25-Year Savings: $13,592
- Payback Period: 16.2 Years
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Average Cost of Solar Panels in Empire
Here’s how much it might cost to make the switch to solar in Empire.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Empire, the typical cost of solar panels is 4 per watt.Using this figure, a typical 6.3-kW system would cost about $16,692 before the 0 federal solar tax credit is applied.
These figures are only estimates, and how much solar costs for you will most likely vary based on your specific situation and what company you want to go with.But, after you've paid the upfront cost of installation, the ROI for most homeowners is usually good, with a net average savings of about $15,000 over 20 years on power bills.
Click the button below to get connected to a reputable solar panel company in Empire for a customized estimate.
Solar savings over time in Empire
| Year | Return on Investment |
|---|---|
| 1 years | $-15,842 |
| 3 years | $-14,140 |
| 5 years | $-12,439 |
| 7 years | $-10,738 |
| 9 years | $-9,036 |
| 11 years | $-7,335 |
| 13 years | $-5,634 |
| 15 years | $-3,933 |
| 17 years | $-2,231 |
| 19 years | $-530 |
| 21 years | $1,171 |
| 23 years | $2,873 |
| 25 years | $4,574 |
Top Solar Installers in Empire
Many homeowners opt for a solar panel installer since trying to install solar panels by yourself can be hard. Another advantage of going with a solar installer is that they can help you optimize your ROI by bringing down your future costs of repairs and replacements because of warranties and giving you information on local incentives you can take advantage of.
You can get a free quote from a local solar installer on how much solar panels could cost for your home. Here are some nearby:
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 Empire
Factors that Affect Solar Panel Costs in Empire
For many Empire homeowners, the decision to go solar rests on cost. However, the range of solar installation costs can be quite wide in Empire, with typical prices between $20,000 to $40,000. There are numerous factors that significantly influence the price you’ll pay, which we'll go over below.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a few different factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems that have higher efficiency or power production need better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $3,760.The type of solar panels and equipment you want is another factor that will significantly affect costs. Solar panels that are more efficient, like monocrystalline panels, tend to cost more. Plus, solar equipment consists of more than just the solar panels themselves. You’ll also need to make decisions about the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when searching for a solar system that’s in your budget.
Solar Financing Terms
Solar panels can save you money on power bills over many years, but they can also be a big investment. That’s why many Empire homeowners decide to finance their solar panel systems to make paying for solar more affordable.However, the interest on solar loans also increases your total costs, so it’s crucial to consider that as well. You can always lower the total you pay in interest and sometimes even your APR by putting more money down.
Solar Panel Installation Company
A final consideration when trying to evaluate the cost of solar for your home or business in Empire is the company you choose to install your PV system. As with choosing a company to renovate your kitchen, for example, you’ll have many options for solar installers that provide a range of services at different price points.Larger national companies generally have lower costs, but some local companies compete with them by promoting sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or extra 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 | $7,901 | 16.9 years |
| 8 kW | $3.84 | $21,477 | $10,955 | 16.6 years |
| 10 kW | $3.76 | $26,320 | $14,221 | 16.2 years |
| 12 kW | $3.68 | $30,952 | $17,697 | 15.9 years |
| 14 kW | $3.61 | $35,374 | $21,383 | 15.6 years |
| 16 kW | $3.53 | $39,585 | $25,280 | 15.3 years |
| 18 kW | $3.46 | $43,586 | $29,387 | 14.9 years |
| 20 kW | $3.38 | $47,376 | $33,705 | 14.6 years |
How to Save on Solar Panels
There are a large number of companies to choose from in Empire, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be challenging, so here are some tips to help you decide:
- Solar Panel Brands: Homeowners will have different preferences for panels based on their roof configurations and energy needs. Although there are many options for which model 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 peruse their list of offerings before deciding.
- Contract: Although reading through a contract can take a lot of time, it’s important to do it carefully so you can be sure you understand how much the equipment and services will cost and the terms of the warranty.
- Installation Process: When making the switch to solar, it’s essential to keep an open line of communication with your solar panel installer. Confirm that you understand how the installation process works and the project timeline.
- Warranty: A high-quality company rises above other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
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 Empire, IL Solar Cost FAQs
How much does it cost to install solar panels in Empire?
This is a hard question to answer exactly, because the cost depends on many factors. Broadly speaking, it costs about $18,800 for a 5-kW system and $37,600 for a 10-kW system after the ITC is applied. It will cost more if you want other solar equipment or higher quality panels, or if you have above-average energy needs. On the flip side, you can spend less if you choose a smaller solar panel system or cheaper solar panels.
What other factors should I consider in addition to cost when buying solar panels?
Cost is certainly one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
How much can I save on energy bills after switching to solar?
Solar panels can potentially eliminate your electricity bills depending on where you’re located and how much sunlight your home gets. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $810.81 per year.
How long do solar panels last in Empire?
Although 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 how much energy they produce will have decreased significantly after that point. You can opt to replace them after having them for that long or you can keep using 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.