Solar Panel Cost Guide in Galesburg City, IL (2024 Update)
- Galesburg City Solar Installation Cost: $16,791
- 25-Year Savings: $11,777
- Payback Period: 17.5 Years
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Average Cost of Solar Panels in Galesburg City
Find out what the average cost of a solar system is in Galesburg City.
The national average cost of solar panels is $2.66 per watt, but in Galesburg City it’s 4 per watt.Using this figure, a typical 6.4-kW system would cost about $16,791 before the 0 federal solar tax credit is applied.
The true price you pay can go higher or lower than the average in Galesburg City based on a few factors, such as the model of solar panels you choose and the solar company you hire.But, after you've paid the upfront cost of installation, the savings for most homeowners is typically fruitful, with a net average savings of about $14,000 over 20 years on power bills.
To receive a free quote from a pre-vetted solar installer in Galesburg City, you can click the button below.
Solar savings over time in Galesburg City
| Year | Return on Investment |
|---|---|
| 1 years | $-15,940 |
| 3 years | $-14,239 |
| 5 years | $-12,538 |
| 7 years | $-10,837 |
| 9 years | $-9,135 |
| 11 years | $-7,434 |
| 13 years | $-5,733 |
| 15 years | $-4,031 |
| 17 years | $-2,330 |
| 19 years | $-629 |
| 21 years | $1,073 |
| 23 years | $2,774 |
| 25 years | $4,475 |
Top Solar Installers in Galesburg City
Many homeowners opt for a solar installation company since trying to put up solar panels by yourself can be time-consuming. Also, companies with a good reputation that cost more upfront could actually save you money in the long run due to their warranties, repair services and expert design.
If you’d like to start using solar energy but still aren’t sure which solar installer to go with, here are our recommendations for providers in Galesburg City:
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 Galesburg City
Factors that Affect Solar Panel Costs in Galesburg City
While the average cost of a solar system in Galesburg City is $16,791, your actual cost may differ. There are quite a few factors that can have a sizable impact on the cost of a residential solar panel installation. Below are some of the more crucial things to take into consideration.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of installing solar panels. Because of that, it’s important to accurately ascertain the size of the solar energy system needed for your home by figuring out your energy needs.The type of solar panels and equipment you want is another factor that will largely affect costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to cost more. Further, solar equipment goes beyond just the solar panels themselves. You’ll also need to think 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 falls within your budget.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be difficult. Solar loans are provided by most installers in Galesburg City, which can reduce, or in some cases eliminate, your upfront costs to make solar more accessible.You’ll have to consider the long-term cost of loans, including the total interest you’ll pay over the length of the loan. If you’re only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or finding a solar loan with a low interest rate could reduce your costs considerably.
Solar Panel Installation Company
A final factor to keep in mind when trying to figure out the cost of solar for your home or business in Galesburg City is the company you choose to install your PV system. Similar to choosing a company to renovate your kitchen, for instance, there’s no shortage of solar installers that provide a range of services for different budgets.Larger national companies typically have lower costs, but some local companies keep up with them by offering sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or additional services like electric vehicle 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 | $6,118 | 18.2 years |
| 8 kW | $3.84 | $21,477 | $8,578 | 17.9 years |
| 10 kW | $3.76 | $26,320 | $11,250 | 17.5 years |
| 12 kW | $3.68 | $30,952 | $14,131 | 17.2 years |
| 14 kW | $3.61 | $35,374 | $17,223 | 16.8 years |
| 16 kW | $3.53 | $39,585 | $20,526 | 16.5 years |
| 18 kW | $3.46 | $43,586 | $24,039 | 16.1 years |
| 20 kW | $3.38 | $47,376 | $27,763 | 15.8 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you decide on the right company for you, here are some tips to keep in mind:
- Contract: It’s important to look over your solar installer’s contract carefully to understand what services they will provide, what the warranty covers and what you can expect about your solar system’s energy production.
- Warranty: If you’re concerned about the endurance of your solar system, verifying that your installer offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Installation Process: One of the most important things to understand when adopting solar power is the installation process itself. Be sure to clarify any details you need to know with your solar installer, such as what permits you should acquire and what the project timeline is.
- Solar Panel Brands: The type of solar panel you need to get plays a role in which installer you should opt for, since different companies have access to different panels.
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 Galesburg City, IL Solar Cost FAQs
What is the average cost of installing solar panels in Galesburg City?
This is a difficult question to answer exactly, because the cost depends on a variety of 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 be more expensive if you want additional solar equipment or higher quality panels, or if you have higher-than-average energy usage. On the flip side, you can spend less if you choose a smaller solar panel system or less expensive solar panels.
Are solar panels free in Galesburg City?
Solar panels aren’t free in Galesburg 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 further reduce the cost.
Can solar panels significantly reduce my electricity bills?
It is possible to eliminate your electricity bills with solar panels, but for most homeowners in Galesburg City, that will require at least a 10-kW system. Not all homes can accommodate that size system, so you’ll want to check with a local solar installer to see how many panels can fit on your roof.
How often do you have to replace solar panels?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely 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 continue to use 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.