Solar Panel Cost Guide in Georgetown, IL (2024 Update)
- Georgetown Solar Installation Cost: $16,686
- 25-Year Savings: $12,172
- Payback Period: 17.2 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Why you can trust EcoWatch
Average Cost of Solar Panels in Georgetown
We break down average solar pricing in Georgetown.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Georgetown, the typical cost of solar panels is 4 per watt.The average Georgetown homeowner needs a 6.3-kilowatt system, which would cost about $16,686 with the federal tax credit, or $23,861 before the 0 tax credit is applied.
These figures are just estimates, and your own solar costs will look different based on your specific situation and what company you choose to go with.With average savings of about $15,000 on power bills over 20 years, many homeowners in Georgetown find investing in solar has a decent ROI.
Click the button below to get connected to a vetted solar company in your area for a custom estimate.
Solar savings over time in Georgetown
| Year | Return on Investment |
|---|---|
| 1 years | $-15,835 |
| 3 years | $-14,134 |
| 5 years | $-12,432 |
| 7 years | $-10,731 |
| 9 years | $-9,030 |
| 11 years | $-7,329 |
| 13 years | $-5,627 |
| 15 years | $-3,926 |
| 17 years | $-2,225 |
| 19 years | $-523 |
| 21 years | $1,178 |
| 23 years | $2,879 |
| 25 years | $4,581 |
Top Solar Installers in Georgetown
Many homeowners decide to use a solar panel company since figuring out how to install solar panels by yourself can be a labor-intensive endeavor. The expertise that solar companies offer can be invaluable as well, especially if you don’t quite know what brand of solar equipment you need.
There are various licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
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 Georgetown
Factors that Affect Solar Panel Costs in Georgetown
Cost is typically one of the most important factors for homeowners considering investing in solar. There are a few major factors that will push your cost above or below the average in Georgetown: solar equipment and system size, financing options and the solar installation company you choose. We’ll discuss each of these briefly below.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more power your household uses, the larger your system will likely need to be. You can expect to pay about $3,760 per kilowatt in Georgetown.The brand and type of equipment you get for your solar system can raise or lower the price quite significantly. If you prefer a brand name like Tesla or SunPower, these are often more expensive than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have a small roof or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to greater savings over time. Plus, if you want add-ons like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
Solar panels can save you money on power bills over many years, but they can also be a significant investment. That’s why many Georgetown homeowners choose to finance their solar panel systems to make going solar more affordable.When estimating 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 company you select will affect your total cost to adopt solar power. Different companies will charge different amounts for the equipment and labor.The company’s size can sometimes play the most significant role in the cost of installation. Larger national companies, like SunPro and Sunrun, often have lower prices because of access to more resources and bulk pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or discount can bring their pricing lower to compete with bigger companies.
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 | $6,562 | 17.9 years |
| 8 kW | $3.84 | $21,477 | $9,171 | 17.5 years |
| 10 kW | $3.76 | $26,320 | $11,990 | 17.2 years |
| 12 kW | $3.68 | $30,952 | $15,020 | 16.8 years |
| 14 kW | $3.61 | $35,374 | $18,260 | 16.5 years |
| 16 kW | $3.53 | $39,585 | $21,711 | 16.1 years |
| 18 kW | $3.46 | $43,586 | $25,372 | 15.8 years |
| 20 kW | $3.38 | $47,376 | $29,244 | 15.5 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 selecting a company can be difficult, we have some tips to help you, such as:
- Installation Process: Get detailed information from your solar company about the installation process and what to expect, such as when the site survey will be completed and how long it will take.
- Warranty: A comprehensive, 25-year warranty can help keep your solar system running for years to come and save you money on part replacement and repairs.
- Reputation: Solar system installers that have great reviews from their customers and that have been operating for many years in most cases provide high-quality solar panel installation and expertise.
- Solar Panel Brands: Different companies will have different brands and types of panels. If you know you want a specific brand, make sure the solar installer you’re considering has it.
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 Georgetown, IL Solar Cost FAQs
What is the average cost of installing solar panels in Georgetown?
This is a difficult question to answer precisely, because the cost depends on a few different 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 be more expensive if you want additional solar equipment or more efficient panels, or if you have above-average energy needs. On the other hand, you can spend less if you opt for a smaller solar panel system or less expensive solar panels.
Should I lease or buy solar panels in Georgetown?
Leasing solar panels can be an option if you can’t afford to pay upfront or secure a solar loan, but since you don’t own the system, you don’t have access to many solar incentives. Also your home value won’t increase, so you’ll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most financial benefits from going solar.
Is it worth going solar in Georgetown?
Solar panels can be a beneficial investment for most homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your power bills are already fairly low, solar panels might not be for you.
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 stop working completely at that time. What this means is their energy production will have decreased significantly after that point. You can decide 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.