Solar Panel Cost Guide in Smithton, IL (2024 Update)
- Smithton Solar Installation Cost: $16,000
- 25-Year Savings: $13,207
- Payback Period: 16.1 Years
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Average Cost of Solar Panels in Smithton
See how much it might cost to switch to solar power in Smithton.
Although the national average of solar panels is $2.66 per watt, solar panels in Smithton generally cost around 4.To cover the typical energy usage of the average home in Smithton, most homeowners require a 6.1-kilowatt system. Using the per-watt figure above, a solar installation costs around $16,000, or $22,880 before the federal solar tax credit of 0 is applied.
How much you pay can be above or below the average in Smithton depending on a few factors, such as the kind of solar panels you choose and the solar installer you hire.With average savings of about $16,000 on power bills over 20 years, many homeowners in Smithton find investing in solar can be quite rewarding.
To calculate your potential savings and connect with a local solar expert, click the button below.
Solar savings over time in Smithton
| Year | Return on Investment |
|---|---|
| 1 years | $-15,149 |
| 3 years | $-13,448 |
| 5 years | $-11,746 |
| 7 years | $-10,045 |
| 9 years | $-8,344 |
| 11 years | $-6,643 |
| 13 years | $-4,941 |
| 15 years | $-3,240 |
| 17 years | $-1,539 |
| 19 years | $163 |
| 21 years | $1,864 |
| 23 years | $3,565 |
| 25 years | $5,267 |
Top Solar Installers in Smithton
Installing solar panels by yourself can be a time-consuming undertaking, which is why hiring a solar installation company is a good option for many homeowners. Another great thing about using a top solar installer is that it'll likely provide warranties and free repairs, which help protect your investment.
If you're searching for a solar installer in Smithton, the EcoWatch team has compiled 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
Best Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
See all of the solar companies in Smithton
Factors that Affect Solar Panel Costs in Smithton
Cost is often one of the most important factors for homeowners wanting to invest in solar. There are a few major factors that affect your total cost in Smithton: solar equipment and system size, financing options and the solar installation company you choose. We’ll cover each of these briefly below.
Solar Equipment
The size of the solar system you need, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by nearly $3,760. Some solar panel brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer better efficiency. In a city like Smithton, where sunlight is relatively abundant, efficiency can quickly pay off. In addition, if you have a small roof or limited space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be financially overwhelming. Solar loans are offered by most installers in Smithton, which can lower, or in some cases completely eliminate, your upfront costs to make solar more accessible.However, the interest on solar loans also adds to your overall costs, so it’s important to include that in your estimate as well. You can always lower the total you pay in interest and sometimes even your APR by making a larger down payment.
Solar Panel Installation Company
The remaining major cost factor you should take into consideration is the installer you choose. Given the booming popularity of sustainable energy solutions in Smithton, you’ll have plenty of options to choose from, but each comes at various price points for labor and equipment.You may notice national solar installers that have lower prices due to their larger brand name and access to bulk prices, 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 | $8,078 | 16.8 years |
| 8 kW | $3.84 | $21,477 | $11,192 | 16.4 years |
| 10 kW | $3.76 | $26,320 | $14,516 | 16.1 years |
| 12 kW | $3.68 | $30,952 | $18,051 | 15.8 years |
| 14 kW | $3.61 | $35,374 | $21,797 | 15.5 years |
| 16 kW | $3.53 | $39,585 | $25,753 | 15.1 years |
| 18 kW | $3.46 | $43,586 | $29,919 | 14.8 years |
| 20 kW | $3.38 | $47,376 | $34,296 | 14.5 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:
- Solar Panel Brands: Each solar panel brand and type has varying levels of quality, durability and efficiency. They will come at different price points as well. The company you choose has an impact on which solar panel brands you have access to.
- Reputation: Your solar installer should have a solid reputation as a company and have verifiable expertise in the field. Two ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has satisfied reviews from previous customers.
- 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 panels are installed, such as updating your electrical system or roof.
- Contract: Before you sign a contract with a solar company, make sure to read it through fully so you understand the terms. Also, ask questions if you’re unsure about some of the terms, such as what the warranty covers and what services you can expect from them.
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
Best Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
EcoWatch's Smithton, IL Solar Cost FAQs
How much does it cost to install solar panels in Smithton?
This is a hard question to answer precisely, because the cost depends on many factors. Generally speaking, it costs about $18,800 for a 5-kW system and $37,600 for a 10-kW system after the ITC is applied. It will be more expensive if you want additional solar equipment or higher quality panels, or if you have above-average energy usage. Conversely, you can spend less if you go with a smaller solar panel system or less efficient solar panels.
Are solar panels free in Smithton?
Solar panels aren’t free in Smithton, but there are some options that can make getting them more feasible, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can further reduce the cost.
How much can I save on power bills after switching to solar?
Solar panels can potentially eliminate your electricity bills depending on where you’re located and the efficiency of your system. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $816.72 per year.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy consumption and the average daily sunlight your roof gets. You can 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 get between 20 and 35 panels to cover 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.