Solar Panel Cost Guide in Peoria Heights, IL (2024 Update)

  • Peoria Heights Solar Installation Cost: $16,774
  • 25-Year Savings: $7,652
  • Payback Period: 21.1 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated February 03, 2024

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We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Peoria Heights

Find out what the average cost of solar panels are in Peoria Heights.

The average cost of a solar panel system in Peoria Heights is 4 per watt.The average Peoria Heights homeowner needs a 6.4-kilowatt system, which would cost about $16,774 with the federal tax credit, or $23,987 before the 0 tax credit is applied.

Bear in mind that the figures above are only estimates based on the average energy use of Peoria Heights homeowners. The cost of a solar system for your home may look different depending on factors unique to your situation, like your household energy use and solar contractor.But, once you've paid the upfront cost of installation, the payback for most homeowners is quite good, with a net average savings of about $12,000 over 20 years on electricity bills.

Click the button below to get connected to a top solar installer in your area for a custom quote.

Solar savings over time in Peoria Heights

Year Return on Investment
1 years $-15,923
3 years $-14,222
5 years $-12,520
7 years $-10,819
9 years $-9,118
11 years $-7,416
13 years $-5,715
15 years $-4,014
17 years $-2,313
19 years $-611
21 years $1,090
23 years $2,791
25 years $4,493

Top Solar Installers in Peoria Heights

Although you can install solar panels yourself, it involves extra energy and expertise. That's one of the reasons most homeowners choose to go with a solar panel installer. Solar companies provide key benefits that can help you get the most out of your investment, like warranties, monitoring and free repairs.

If you’d like to start using solar energy but still aren’t sure which solar panel company to go with, here are our suggestions for providers near you:

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries

Best for Leasing

Sunrun

★★★★★
4.0

  • 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 Peoria Heights

Factors that Affect Solar Panel Costs in Peoria Heights

For many Peoria Heights homeowners, the decision to adopt solar energy comes down to cost. However, the range of solar installation costs can be quite wide in Peoria Heights, with typical prices between $20,000 to $40,000. There are a few factors that greatly influence the price you’ll pay, which we'll go over below.

Solar Equipment

Solar system size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of going solar. That’s why it’s a priority to accurately ascertain the size of the solar energy system needed for your home by figuring out your average energy use.The model of solar panels and equipment you get is another factor that will greatly affect costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to come at a higher price. Moreover, solar equipment goes beyond just the solar panels themselves. You’ll also need to consider the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when looking into a solar system that’s in your budget.

Solar Financing Terms

If paying for solar panels in cash is out of reach, solar loans are a solid option because they cut back your upfront costs and let you pay for your system over five to seven years on average.However, the interest on solar loans also adds to your all-in costs, so it’s crucial to take that into consideration as well. You can always lower the total you pay in interest and in some cases even your APR by making a larger down payment.

Solar Panel Installation Company

The solar company you opt for to handle your switch to clean energy can play a part in your total costs. There are about 3 solar panel companies in Peoria Heights, and each can charge varying amounts for labor and equipment.Some companies 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 decide on the company that has the products, warranties and services you want 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 $2,246 22.0 years
8 kW $3.84 $21,477 $3,416 21.6 years
10 kW $3.76 $26,320 $4,796 21.1 years
12 kW $3.68 $30,952 $6,387 20.7 years
14 kW $3.61 $35,374 $8,189 20.3 years
16 kW $3.53 $39,585 $10,201 19.9 years
18 kW $3.46 $43,586 $12,423 19.5 years
20 kW $3.38 $47,376 $14,856 19.0 years

How to Save on Solar Panels

The solar panel 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:

  • Installation Process: Homeowners should understand how exactly the installation process will be carried out, as well as important factors like the project timeline.
  • Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for sustainable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a good reputation and is qualified to install your solar system. Another way you can research your installer’s reputation is by reading reviews.
  • Warranty: Companies typically offer different types of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
  • Contract: It’s important to read your solar installer’s contract closely to understand what services they will provide, what the warranty covers and what expectations you should have about the project timeline.

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries

Best for Leasing

Sunrun

★★★★★
4.0

  • Expansive service area
  • Many financing options
  • Some reported issues with customer service
  • Some reported issues with door-to-door sales

EcoWatch's Peoria Heights, IL Solar Cost FAQs

How much does it cost to install solar panels in Peoria Heights?

The average cost of solar panels in Peoria Heights 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 stuff such as the kind of solar panels you want, what size system you need and how much energy you consume.

Should I lease or buy solar panels in Peoria Heights?

Leasing solar panels can be an option if you can’t afford to pay upfront or get a solar loan, but since you don’t own the system, you don’t have access to many solar incentives. Also your property 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 bang for your buck from going solar.

How will solar panels impact how much my home is worth?

Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Peoria Heights is currently $95,474, so you can look forward to a value of about $3,914 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Peoria Heights is a rewarding investment.

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 the amount of energy they produce will have decreased significantly after that point. You can choose 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.

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