Solar Panel Cost Guide in Peru, IL (2024 Update)

  • Peru Solar Installation Cost: $16,938
  • 25-Year Savings: $12,128
  • Payback Period: 17.3 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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Average Cost of Solar Panels in Peru

Let’s have a look at the average cost of solar in Peru.

Currently, the national average cost of solar panels is $2.66 per watt. However, in Peru, the typical cost of solar panels is 4 per watt.Since a 6.4-kW system is needed to cover the energy consumption of a typical home in Peru, the average price of going solar will be about $16,938 after claiming the federal solar tax credit of 0.

How much you pay can be above or below the average in Peru based on a variety of factors, such as the kind of solar panels you choose and the solar installer you hire.For many homeowners, the upfront cost of solar power is worth paying. On average you could be looking at about $14,000 in savings on utility bills over 20 years.

To get a free estimate from a top solar installer in Peru, you can click the button below.

Solar savings over time in Peru

Year Return on Investment
1 years $-15,986
3 years $-14,081
5 years $-12,176
7 years $-10,271
9 years $-8,366
11 years $-6,461
13 years $-4,556
15 years $-2,651
17 years $-746
19 years $1,159
21 years $3,064
23 years $4,969
25 years $6,874

Top Solar Installers in Peru

DIY solar panel installation is a way to cut costs, but it's an undertaking that can use up a lot of your time and energy. Taking advantage of an installer can make swapping over to solar power much easier. The payback period on an investment in solar panels will vary depending on factors like your roof configuration and energy use, but going with a solar company can shorten it. Your provider will be able to help you identify incentives available in your area.

If you're looking for a solar company in Peru, we've compiled a list of our top suggestions here:

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 Peru

Factors that Affect Solar Panel Costs in Peru

For many Peru homeowners, the decision to adopt solar energy rests on cost. However, the range of solar installation costs can be quite wide in Peru, with typical prices between $20,000 to $40,000. There are numerous factors that significantly influence the price you’ll pay, which we'll go over below.

Solar Equipment

When it comes to estimating the cost of a solar energy system in Peru, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are chiefly based on your home’s energy consumption, which you can gauge by looking at past energy bills. Your total cost can increase by around $3,760 for each additional kilowatt you need.The kind of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you opt for the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. However, more efficient panels could save you more in the long run on your energy bills. Additionally, add-on products, such as solar batteries, can bring your total well above the Peru average.

Solar Financing Terms

Most solar companies in Peru offer solar loans, which reduce the initial cost of installing a solar system.It’s a good idea to include the interest you’ll pay in your final cost estimate. If you can afford to pay a higher down payment, you can reduce your total costs and the amount of time it’ll take to pay off the loan.

Solar Panel Installation Company

Finally, the company you choose to install your solar system can influence your pricing. Peru’s solar companies all have different labor costs and add varying upcharges to equipment. Companies that only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come with an above-average cost. It’s best to do some research and decide on the company that provides the products, warranties and services you’re looking for and also fit into 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 $6,350 18.0 years
8 kW $3.84 $21,477 $8,887 17.7 years
10 kW $3.76 $26,320 $11,636 17.3 years
12 kW $3.68 $30,952 $14,595 17.0 years
14 kW $3.61 $35,374 $17,764 16.6 years
16 kW $3.53 $39,585 $21,144 16.3 years
18 kW $3.46 $43,586 $24,734 15.9 years
20 kW $3.38 $47,376 $28,535 15.6 years

How to Save on Solar Panels

The company that does your system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Since selecting a company can be difficult, we have some tips to help you, such as:

  • Warranty: A comprehensive, long-term warranty can help keep your solar panels running for a long time and save you money on repairs and maintenance.
  • Contract: Review the contract terms thoroughly to make sure you understand how much it will cost, completion timeline rebates and warranties.
  • Solar Panel Brands: Not all solar installers have the same brands of solar panels, so the brand and type of panel you want can play a big role in the company you choose.
  • Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a solid reputation and is qualified to do the job well. Another way you can verify your installer’s reputation is by reading reviews.

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 Peru, IL Solar Cost FAQs

What is the average cost of installing solar panels in Peru?

The average cost of solar panels in Peru is about $18,800 for a 5-kW system and $37,600 for a 10-kW system before the ITC, but the real cost will depend on stuff like the kind of solar panels you want, what size system you need and how much energy you consume.

Is cost the most important thing to keep in mind when buying solar panels?

Cost is without a doubt one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.

Can you sell solar power back to the grid in Peru?

Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just offer you credit toward your future energy bills.

How many solar panels do I need to power my home?

The exact number of solar panels you need depends on your household energy usage and the average daily sunlight your roof gets. You can take a look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to buy between 20 and 35 panels to account for their typical energy usage.

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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