Solar Panel Cost Guide in Fairbury, IL (2024 Update)
- Fairbury Solar Installation Cost: $16,775
- 25-Year Savings: $13,370
- Payback Period: 16.4 Years
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Average Cost of Solar Panels in Fairbury
Find out how much it might cost to make the switch to solar in Fairbury.
The national average cost of solar panels is $2.66 per watt, but in Fairbury it’s 4 per watt.To cover the typical energy usage of the average home in Fairbury, most homeowners require a 6.4-kilowatt system. Using the figure above, a solar installation costs about $16,775, or $23,988 before the federal solar tax credit of 0 is applied.
The prices above are just estimates to give you an idea of the cost of solar panels. The true cost of going solar can vary quite a bit based on multiple factors, such as how many panels you need, your energy usage and what installation company you go with.Many homeowners find installing a solar panel system is a solid investment. The average homeowner in Fairbury can save about $15,000 on their electricity bills over 20 years.
Click the button below to get connected to a vetted solar panel company in Fairbury for a custom quote.
Solar savings over time in Fairbury
| Year | Return on Investment |
|---|---|
| 1 years | $-15,619 |
| 3 years | $-13,307 |
| 5 years | $-10,994 |
| 7 years | $-8,682 |
| 9 years | $-6,370 |
| 11 years | $-4,057 |
| 13 years | $-1,745 |
| 15 years | $567 |
| 17 years | $2,880 |
| 19 years | $5,192 |
| 21 years | $7,505 |
| 23 years | $9,817 |
| 25 years | $12,129 |
Top Solar Installers in Fairbury
DIY solar panel installation is a way to cut costs, but it's an undertaking that can take a lot of hard work. Taking advantage of a solar panel installer can make your swap to solar power much easier. The expertise that solar companies offer can be invaluable as well, particularly if you don’t quite know what brand of solar equipment you need.
You can work with a local solar installer to get a free quote on how much your investment in solar could cost for your home. Here are some in Fairbury:
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 Fairbury
Factors that Affect Solar Panel Costs in Fairbury
Though the average cost of a solar system in Fairbury is $16,775, your final cost may be higher or lower than that. There are quite a few factors that can have a major impact on the cost of a residential solar panel installation. Below are some of the more important things to keep in mind.
Solar Equipment
The size of the solar energy system you need for your household, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by nearly $3,760. Some solar brands — like Maxeon from SunPower — cost more upfront but also tend to offer higher efficiency. In a city like Fairbury, where sunlight is relatively abundant, efficiency can quickly pay off. Plus, if you have a small roof or limited space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Fairbury to be prohibitively steep, even if the investment pays off over time. Fortunately, nearly every solar company in the area provides access to financing options. Solar loans drastically decrease upfront costs in most cases, but they also result in a higher cost over time because of interest.It’s a good idea to factor the interest you’ll pay in your final cost estimate. If you can afford to pay a larger down payment, you can reduce your total costs and the amount of time it’ll take to pay back the loan.
Solar Panel Installation Company
The solar company you hire to handle your switch to sustainable energy can play a role in your total costs. There are about 3 solar panel companies in Fairbury, and each can charge varying amounts for labor and equipment.Companies that only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally cost more. It’s best to do some research and choose a company that provides the products, warranties and services you’re looking for and also fits within your budget.
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 | $7,628 | 17.1 years |
| 8 kW | $3.84 | $21,477 | $10,592 | 16.7 years |
| 10 kW | $3.76 | $26,320 | $13,767 | 16.4 years |
| 12 kW | $3.68 | $30,952 | $17,152 | 16.1 years |
| 14 kW | $3.61 | $35,374 | $20,747 | 15.8 years |
| 16 kW | $3.53 | $39,585 | $24,554 | 15.4 years |
| 18 kW | $3.46 | $43,586 | $28,570 | 15.1 years |
| 20 kW | $3.38 | $47,376 | $32,798 | 14.8 years |
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Since choosing a company can be a tough decision, we have some tips to help you, such as:
- Solar Panel Brands: Not all solar installers offer the same brands of solar panels, so the brand and type of panel you want can play a considerable role in the company you choose.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for sustainable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a good reputation and is qualified to do the job well. Another way you can verify your installer’s reputation is by reading reviews.
- Contract: When reading through your solar company’s contract, ask for clarification about any terms you’re not sure of and make sure you understand what happens in scenarios such as a system component breaking or the company going out of business.
- Warranty: Companies typically offer different types of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
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 Fairbury, IL Solar Cost FAQs
What is the average cost of installing solar panels in Fairbury?
This is a difficult question to answer precisely, because the cost depends on many 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. It will cost more if you want other solar equipment or more efficient panels, or if you have higher-than-average energy usage. On the other hand, you can spend less if you opt for a smaller solar panel system or less expensive solar panels.
Are solar panels free in Fairbury?
You can’t get solar panels for free in Fairbury. However, you may still be able to get them on a lower budget. You can lease solar panels for a low upfront cost or, if you want to own your solar panels, you can finance them with a solar loan.
Can you sell solar power back to the grid in Fairbury?
Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just give you credit toward your future power bills.
How often do you have to replace solar panels?
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 replace them once you've had 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.