Solar Panel Cost Guide in Eureka, IL (2024 Update)
- Eureka Solar Installation Cost: $16,751
- 25-Year Savings: $11,806
- Payback Period: 17.5 Years
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Average Cost of Solar Panels in Eureka
See how much it might cost to switch to solar power in Eureka.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Eureka, the average cost of a solar system is 4 per watt.The average Eureka homeowner needs a 6.4-kilowatt system, which would cost about $16,751 with the federal tax credit, or $23,954 before the 0 tax credit is applied.
Keep in mind that the figures above are only estimates based on the average energy use of Eureka homeowners. The price of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor.But, once you've paid the initial cost of installation, the savings for most homeowners is usually fruitful, with a net average savings of about $14,000 over 20 years on energy bills.
To receive a free estimate from a top solar company in Eureka, you can click the button below.
Solar savings over time in Eureka
| Year | Return on Investment |
|---|---|
| 1 years | $-15,900 |
| 3 years | $-14,199 |
| 5 years | $-12,498 |
| 7 years | $-10,797 |
| 9 years | $-9,095 |
| 11 years | $-7,394 |
| 13 years | $-5,693 |
| 15 years | $-3,991 |
| 17 years | $-2,290 |
| 19 years | $-589 |
| 21 years | $1,113 |
| 23 years | $2,814 |
| 25 years | $4,515 |
Top Solar Installers in Eureka
When making the switch to solar, many homeowners opt to use a solar installation company since handling can be a difficult project. Since solar panels are exposed to rain, snow, hail and wind, depending on the climate, warranties and repairs from your solar installer can help you get the most out of your investment in solar panels by reducing potential costs down the line.
If you’d like to make the switch to solar but still aren’t sure which solar panel installer to go with, here are our suggestions for providers near you:
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 Eureka
Factors that Affect Solar Panel Costs in Eureka
For many Eureka homeowners, the decision to adopt solar energy rests on cost. However, the range of solar installation costs can be quite wide in Eureka, with typical prices between $20,000 to $40,000. There are a few factors that significantly influence the price you’ll pay, which we'll go over below.
Solar Equipment
One of the most important 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 about $3,760 per kilowatt in Eureka.The brand and kind of equipment you want for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often have a higher price tag than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have limited roof space or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to more savings over time. Also, if you want extra equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be a challenge. Solar loans are offered by most installers in Eureka, which can lower, or in some cases completely eliminate, your upfront costs to make solar more affordable.When figuring out your overall cost, you should also calculate the interest you’ll pay if you decide on a solar loan. Also, paying a higher down payment can lower the total interest paid over time.
Solar Panel Installation Company
The solar panel installer you choose will impact your total cost to adopt solar power. Different companies will bill different amounts for the equipment and labor.Larger national companies usually have lower costs, but some local companies compete with them by promoting sales and discounts. While the smaller companies might not have 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 | $6,172 | 18.2 years |
| 8 kW | $3.84 | $21,477 | $8,650 | 17.8 years |
| 10 kW | $3.76 | $26,320 | $11,339 | 17.5 years |
| 12 kW | $3.68 | $30,952 | $14,239 | 17.1 years |
| 14 kW | $3.61 | $35,374 | $17,349 | 16.8 years |
| 16 kW | $3.53 | $39,585 | $20,670 | 16.4 years |
| 18 kW | $3.46 | $43,586 | $24,201 | 16.1 years |
| 20 kW | $3.38 | $47,376 | $27,942 | 15.7 years |
How to Save on Solar Panels
Since the type of solar panels and the installer you choose has an impact on your costs and your system’s efficiency, production, and durability, it’s important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- Reputation: Make sure your solar installer has a good reputation by verifying it has certifications and licenses, checking how long it's been in business and reading reviews by previous customers and solar experts like EcoWatch.
- Contract: When looking through your solar company’s contract, ask questions about any terms you’re not sure of and be sure you understand what happens in scenarios such as a system component breaking or if the company goes out of business.
- Warranty: A quality company rises above other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Installation Process: When making the switch to solar energy, it’s crucial to keep an open line of communication with your solar panel company. Confirm that you understand how the installation process works and the project completion timeline.
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 Eureka, IL Solar Cost FAQs
How much does it cost to install solar panels in Eureka?
The average cost of solar panels in Eureka 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 like the type of solar panels you want, what size system you need and how much energy you use.
Are solar panels free in Eureka?
You can’t get solar panels for free in Eureka. However, you may still be able to install them on a lower budget. You can lease solar panels for a low upfront cost or, if you’d prefer to own your solar panels, you can finance them with a solar loan.
How much can I save on electricity bills after installing solar panels?
Solar panels can potentially eliminate your electricity bills depending on your location and the efficiency of your system. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $753.18 per year.
How long do solar panels last in Eureka?
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 higher 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.