Solar Panel Cost Guide in Swansea, IL (2024 Update)
- Swansea Solar Installation Cost: $16,000
- 25-Year Savings: $12,018
- Payback Period: 16.9 Years
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Average Cost of Solar Panels in Swansea
Let’s have a look at the average cost of solar panels in Swansea.
In Swansea, solar panels cost about 4 per watt on average.The average Swansea homeowner needs a 6.1-kilowatt system, which would cost about $16,000 with the federal tax credit, or $22,880 before the 0 tax credit is applied.
These figures are just estimates, and how much solar costs for you will look different based on your specific situation and what company you go with.For most homeowners, the upfront cost of solar power is worth paying. On average you could be looking at about $15,000 in savings on utility bills over 20 years.
To receive a free estimate from a pre-vetted solar company in Swansea, you can click the button below.
Solar savings over time in Swansea
| 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 Swansea
Do-it-yourself 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 switching to solar power much easier. Plus, if you’re unsure what type of solar panels and equipment you may need, a solar installer can help you figure that out after a site survey and consultation.
If you’d like to make the switch to solar but still aren’t sure which solar company to go with, here are our suggestions for providers near you:
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 Swansea
Factors that Affect Solar Panel Costs in Swansea
There are many criteria that can affect your solar system installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar panels.
Solar Equipment
When it comes to estimating the cost of solar panels in Swansea, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home’s energy usage, which you can figure out by looking at past power bills. Your overall cost can increase by around $3,760 for each additional kilowatt you need.The brand and kind of equipment you want for your solar system can raise or lower the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often come at a higher price 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 greater savings over time. Also, if you want additional 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 too expensive, solar loans are a solid choice because they reduce your upfront costs and let you pay for your system over five to seven years on average.It’s a good idea to add the interest you’ll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and how long it’ll take to pay off the loan.
Solar Panel Installation Company
The solar installer you go with to handle your switch to solar energy can have an effect on your total costs. There are about 3 solar panel companies operating in Swansea, and each can charge varying amounts for labor and equipment.Additionally, some companies in Swansea know more about local solar incentives and can help you take advantage of additional rebates or tax exemptions. However, they may charge more for walking you through the whole process. Even if they cost more upfront, they could end up saving you more money in the long run.
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 | $6,904 | 17.6 years |
| 8 kW | $3.84 | $21,477 | $9,627 | 17.3 years |
| 10 kW | $3.76 | $26,320 | $12,560 | 16.9 years |
| 12 kW | $3.68 | $30,952 | $15,704 | 16.6 years |
| 14 kW | $3.61 | $35,374 | $19,058 | 16.2 years |
| 16 kW | $3.53 | $39,585 | $22,623 | 15.9 years |
| 18 kW | $3.46 | $43,586 | $26,398 | 15.6 years |
| 20 kW | $3.38 | $47,376 | $30,384 | 15.2 years |
How to Save on Solar Panels
Since the kind of solar panels and the installation company you choose considerably influences your costs and your system’s durability and efficiency, it’s important to pick the right ones for you. Here are some things to keep in mind to help with your decision:
- Installation Process: An important thing to understand when adopting solar energy is the installation process itself. Be sure to align on any details you should know with your solar company, such as what permits you should secure and how long the project will take.
- Solar Panel Brands: Different companies have different brands and types of panels. If you want a specific brand, make sure the solar panel company you’re considering has it.
- Warranty: If you’re concerned about the durability of your solar energy system, ensuring your installer offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Reputation: Companies that have been operating for many years likely have a high reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide quality aftercare and customer support, such as part repairs and replacements.
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 Swansea, IL Solar Cost FAQs
How much does it cost to install solar panels in Swansea?
The average cost of solar panels in Swansea 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 certain factors such as the kind of solar panels you want, what size system you need and how much energy you use.
Can you get solar panels for free in Swansea?
A solar panel system isn’t free in Swansea, 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.
Do solar panels increase your home value?
Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Swansea is currently $237,454, so you could be looking at a value of about $9,736 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Swansea is a worthwhile investment.
How long do solar panels last in Swansea?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is how much energy they produce will have decreased significantly after that point. You can 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.