Solar Panel Cost Guide in Herrin, IL (2024 Update)
- Herrin Solar Installation Cost: $15,943
- 25-Year Savings: $11,814
- Payback Period: 17.0 Years
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Average Cost of Solar Panels in Herrin
Let’s take a look at the average cost of solar panels in Herrin.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Herrin, the average cost of solar panels is 4 per watt.The average solar panel system size in Herrin is around 6.1 kilowatts, meaning a cost of about $15,943 for a solar installation, or $22,798 before the 0 federal solar tax credit is applied.
The prices above are just estimates to give you an idea of the cost of a solar energy system. The true cost of installing solar panels can vary quite a bit based on a few factors, such as what size system you need, your energy consumption and what company you go with.With typical savings of about $15,000 on energy bills over 20 years, many homeowners in Herrin find installing solar panels can pay off big.
Click the button below to get connected to a reputable solar panel company in your area for a personalized quote.
Solar savings over time in Herrin
| Year | Return on Investment |
|---|---|
| 1 years | $-15,092 |
| 3 years | $-13,391 |
| 5 years | $-11,689 |
| 7 years | $-9,988 |
| 9 years | $-8,287 |
| 11 years | $-6,586 |
| 13 years | $-4,884 |
| 15 years | $-3,183 |
| 17 years | $-1,482 |
| 19 years | $220 |
| 21 years | $1,921 |
| 23 years | $3,622 |
| 25 years | $5,323 |
Top Solar Installers in Herrin
DIY solar panel installation is a choice some homeowners opt for, but it's an undertaking that can be a pain. Hiring a solar company can make swapping over to solar power much easier. Since solar panels are exposed to rain, snow, hail and wind, depending on the climate, warranties and repairs from your solar company can help you get the most out of your investment in solar panels by avoiding potential costs down the line.
If you're looking for a solar company in Herrin, the EcoWatch team has organized a list of our top suggestions here:
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 Herrin
Factors that Affect Solar Panel Costs in Herrin
While the average cost of a solar system in Herrin is $15,943, your final cost may be higher or lower than that. There are quite a few factors that can have a sizable impact on the cost of a solar panel installation. Below are some of the more important things to keep in mind.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of going solar. Because of that, it’s a priority to accurately assess the size of the solar energy system needed for your home by figuring out your average energy use.The brand and kind 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 limited roof space or just want maximum energy production, you will be looking at 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
If paying for a solar system out of pocket is difficult, solar loans are a solid choice because they lower your upfront costs and allow you to pay for your system over five to seven years on average.When trying to figure out your overall cost, you should also calculate the interest you’ll pay if you opt for a solar loan. Also, paying more on your down payment can lower the total interest paid over time.
Solar Panel Installation Company
Lastly, the company you hire to install your solar panel system can impact the cost. Herrin’s solar companies all have different labor costs and add varying upcharges to equipment. Companies that only sell high-quality, high-efficiency and high-price products — 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 want and also is 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 | $6,744 | 17.7 years |
| 8 kW | $3.84 | $21,477 | $9,413 | 17.4 years |
| 10 kW | $3.76 | $26,320 | $12,293 | 17.0 years |
| 12 kW | $3.68 | $30,952 | $15,383 | 16.7 years |
| 14 kW | $3.61 | $35,374 | $18,684 | 16.4 years |
| 16 kW | $3.53 | $39,585 | $22,195 | 16.0 years |
| 18 kW | $3.46 | $43,586 | $25,917 | 15.7 years |
| 20 kW | $3.38 | $47,376 | $29,850 | 15.3 years |
How to Save on Solar Panels
The solar company you opt for will be a major factor in determining not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are several important things you should take into account, including:
- Reputation: Companies that have been operating for many years likely have a solid reputation. This is important because it ensures that it will not only see your solar project through, but will also provide quality aftercare and customer support, such as part repairs and replacements.
- Contract: Before signing a contract with a solar company, be sure to look it over carefully so you understand the terms. Also, ask questions if you’re not sure about some of the terms, such as what to do if a part breaks or malfunctions and if there are any guarantees about energy production.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and energy needs. While there are many options for which type of solar panel you can get, not every company will have the exact one you may want or need, so make sure you peruse their list of offerings before making your decision.
- Installation Process: Homeowners should understand how exactly the installation process will go, as well as important factors like the project completion timeline.
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 Herrin, IL Solar Cost FAQs
How much does it cost to install solar panels in Herrin?
The average cost of solar panels in Herrin is about $18,800 for a 5-kW system and $37,600 for a 10-kW system before the ITC, but the actual cost will depend on things like the type of solar panels you want, what size system you need and how much energy you consume.
Should I lease or buy solar panels in Herrin?
Leasing solar panels can be an appealing choice, as it typically comes with low or $0 upfront payments. The drawback is that you won’t be able to save as much. If you lease, you don’t own the system, so you can’t claim any tax rebates and credits and your home value won’t increase. Buying solar panels is a better way to go if you want to get the most savings.
Can you sell solar power back to the grid in Herrin?
Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just offer you credit toward your future electricity bills.
How long do solar panels last in Herrin?
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 the amount of 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.