Solar Panel Cost Guide in Greenville, IL (2024 Update)
- Greenville Solar Installation Cost: $16,186
- 25-Year Savings: $16,254
- Payback Period: 14.4 Years
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Average Cost of Solar Panels in Greenville
We go over average solar pricing in Greenville.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Greenville, the typical cost of solar panels is 4 per watt.The average Greenville homeowner needs a 6.1-kilowatt system, which would cost about $16,186 with the federal tax credit, or $23,146 before the 0 tax credit is applied.
The true price you pay can go above or below the average in Greenville based on a few factors, such as the model of solar panels you choose and the solar installer you hire.Despite the significant upfront cost, the average Greenville homeowner can save around $17,000 on their electricity bills over 20 years, which is one of the perks of solar.
To see your potential savings and connect with a local solar installer, click the button below.
Solar savings over time in Greenville
| Year | Return on Investment |
|---|---|
| 1 years | $-15,336 |
| 3 years | $-13,634 |
| 5 years | $-11,933 |
| 7 years | $-10,232 |
| 9 years | $-8,531 |
| 11 years | $-6,829 |
| 13 years | $-5,128 |
| 15 years | $-3,427 |
| 17 years | $-1,725 |
| 19 years | $-24 |
| 21 years | $1,677 |
| 23 years | $3,379 |
| 25 years | $5,080 |
Top Solar Installers in Greenville
DIY solar panel installation is a possibility, but it's an undertaking that can be a pain. Going with a solar company can make switching to solar power much easier. Plus, warranties and repairs from your solar panel installer can protect your investment and bring down the cost of maintenance over time.
There are various licensed solar professionals that can help you install your solar panels. 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 Greenville
Factors that Affect Solar Panel Costs in Greenville
While the average cost of a solar system in Greenville is $16,186, your final cost may be above or below the average. There are many factors that can have a significant impact on the cost of a solar panel installation. Below are some of the more crucial things to take into consideration.
Solar Equipment
When it comes to estimating the cost of a solar system in Greenville, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are primarily based on your home’s energy usage, which you can figure out by looking at past power bills. Your total cost can increase by around $3,760 for each additional kilowatt you need.There are many different solar panel brands and the one you choose also changes the cost. In general, the brands that offer higher efficiency tend to also be more expensive. Additionally, the type of equipment you’re looking to install can affect your total cost. If you just need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Most solar companies in Greenville provide solar loans, which reduce your upfront costs of installing solar.When figuring out your overall cost, you should also calculate the interest you’ll pay if you decide on a solar loan. Also, paying more upfront can reduce the total interest paid over time.
Solar Panel Installation Company
The solar installer you go with to handle your switch to solar energy can have an effect on your total costs. There are about 3 solar installation companies in Greenville, and each can charge varying amounts for labor and equipment.You may come across national solar installers that have lower prices because of their bigger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or promotions to compete with those larger 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 | $10,900 | 15.0 years |
| 8 kW | $3.84 | $21,477 | $14,954 | 14.7 years |
| 10 kW | $3.76 | $26,320 | $19,219 | 14.4 years |
| 12 kW | $3.68 | $30,952 | $23,695 | 14.2 years |
| 14 kW | $3.61 | $35,374 | $28,381 | 13.9 years |
| 16 kW | $3.53 | $39,585 | $33,277 | 13.6 years |
| 18 kW | $3.46 | $43,586 | $38,385 | 13.3 years |
| 20 kW | $3.38 | $47,376 | $43,702 | 13.0 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Since selecting a company can be a challenge, we have some tips to help you, such as:
- 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 most 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: It’s important to look over your solar installer’s contract thoroughly to understand what services they will provide, what the warranty covers and what you can expect about the cost.
- Installation Process: An important thing to understand when going solar is the installation process itself. Be sure to clarify any details you should know with your solar company, such as what permits you should secure and what the project timeline is.
- Solar Panel Brands: Not all solar installers carry the same brands of solar panels, so the brand and type of panel you want can play a considerable role in the company you hire.
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 Greenville, IL Solar Cost FAQs
What is the average cost of installing solar panels in Greenville?
This is a difficult 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. You can expect to pay more if you want extra solar equipment or more efficient panels, or if you have higher-than-average energy consumption. On the flip side, you can spend less if you choose a smaller solar panel system or cheaper solar panels.
Is it better to lease or buy solar panels in Greenville?
Leasing solar panels can be an option if you can’t 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 savings from going solar.
Is it worth going solar in Greenville?
Solar panels can be a great 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 pretty low, solar panels might not be for you.
How many solar panels should I get to power my home?
To figure out what solar panel system size you need, you need to know how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average home will need 20 to 35 panels.
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.