Solar Panel Cost Guide in Salem, IL (2024 Update)
- Salem Solar Installation Cost: $16,205
- 25-Year Savings: $13,095
- Payback Period: 16.3 Years
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Average Cost of Solar Panels in Salem
See how much it might cost to go solar in Salem.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Salem, the typical cost of a solar system is 4 per watt.Because a 6.2-kW system is needed to cover the energy usage of a typical home in Salem, the average price of going solar will be about $16,205 after claiming the federal solar tax credit of 0.
How much you pay can go above or below the average in Salem based on a variety of factors, such as the kind of solar panels you choose and the solar contractor you hire.Despite the significant initial cost, the average Salem homeowner can save around $15,000 on their energy bills over 20 years, which is one of the advantages of solar.
You can click the button below to get connected with a vetted solar installer in Salem for a quote for your home.
Solar savings over time in Salem
| Year | Return on Investment |
|---|---|
| 1 years | $-15,354 |
| 3 years | $-13,653 |
| 5 years | $-11,952 |
| 7 years | $-10,250 |
| 9 years | $-8,549 |
| 11 years | $-6,848 |
| 13 years | $-5,147 |
| 15 years | $-3,445 |
| 17 years | $-1,744 |
| 19 years | $-43 |
| 21 years | $1,659 |
| 23 years | $3,360 |
| 25 years | $5,061 |
Top Solar Installers in Salem
Putting up solar panels yourself can be a challenging project, which is why getting a solar installer is a good option for many homeowners. Local solar installation companies can also help you maximize your return on investment by walking you through any local incentives you can benefit from and by providing warranties and repairs.
If you’d like to switch to solar energy but still aren’t certain which solar installer to go with, here are our suggestions for providers nearby:
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 Salem
Factors that Affect Solar Panel Costs in Salem
Even though the average cost of a solar system in Salem is $16,205, your actual cost may be above or below the average. There are many factors that can have a major impact on the cost of a residential solar panel installation. Below are some of the more important things to consider.
Solar Equipment
When it comes to estimating the cost of a solar energy system in Salem, 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 consumption, which you can determine by looking at past power bills. Your total cost can increase by about $3,760 for each additional kilowatt you need.The solar equipment you choose can increase or decrease your cost 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 power bills. In addition, extra products, such as solar batteries, can bring your total well above the Salem average.
Solar Financing Terms
Most solar installers in Salem provide solar loans, which reduce the initial cost of installing solar panels.It’s a good idea to factor the interest you’ll pay in your final cost estimate. If you can afford to pay a larger 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
The solar company you choose to handle your switch to solar energy can have an effect on your total costs. There are about 3 solar panel companies operating in Salem, and each can charge varying amounts for labor and equipment.The company’s size sometimes plays the most significant role in your total costs. Larger national companies, like SunPro and Sunrun, often have lower pricing because of access to greater resources and better pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or promotion can bring their pricing lower to compete with bigger names.
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 | $7,803 | 16.9 years |
| 8 kW | $3.84 | $21,477 | $10,825 | 16.6 years |
| 10 kW | $3.76 | $26,320 | $14,058 | 16.3 years |
| 12 kW | $3.68 | $30,952 | $17,502 | 16.0 years |
| 14 kW | $3.61 | $35,374 | $21,155 | 15.6 years |
| 16 kW | $3.53 | $39,585 | $25,020 | 15.3 years |
| 18 kW | $3.46 | $43,586 | $29,095 | 15.0 years |
| 20 kW | $3.38 | $47,376 | $33,380 | 14.7 years |
How to Save on Solar Panels
Since the type of solar panels and the company you choose considerably influences your costs and your system’s efficiency, production, and durability, it’s important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- Solar Panel Brands: Different companies have different brands and models of panels. If you know you want a specific brand, make sure the solar installer you’re considering has it.
- Reputation: Make sure your solar installer has a good reputation by confirming it has certifications and licenses, checking how long it's been in business and reading reviews by previous customers and solar experts like EcoWatch.
- Installation Process: Make sure you’re aligned with the installer regarding how the installation process will go and what needs to be done before your solar system is installed, such as updating or replacing your electrical system or roof.
- Warranty: If you’re concerned about the longevity of your solar energy system, checking if your installer offers a 25-year, all-inclusive warranty can give you some peace of mind.
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 Salem, IL Solar Cost FAQs
What is the average cost of installing solar panels in Salem?
The average cost of solar panels in Salem 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 model of solar panels you want, what size system you need and how much energy you use.
Can you get solar panels for free in Salem?
You can’t get solar panels for free in Salem. However, you may still be able to get them on a lower budget. You can lease solar panels for a low upfront cost or, if you want to own your solar panels, you can finance them with a solar loan.
Can you sell solar power back to the grid in Salem?
Most states offer net metering programs of some kind. Through these, you can be compensated for the extra power your system generates or or receive credits to put toward future utility bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.
What solar power system size is right for 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.