Solar Panel Cost Guide in Tyrone, IL (2024 Update)
- Tyrone Solar Installation Cost: $15,990
- 25-Year Savings: $10,103
- Payback Period: 18.4 Years
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Average Cost of Solar Panels in Tyrone
We go over average solar pricing in Tyrone.
In Tyrone, solar panels cost about 4 per watt on average.To cover the typical energy usage of the average home in Tyrone, most homeowners require a 6.1-kilowatt system. Using the per-watt figure above, a solar installation costs around $15,990, or $22,866 before the federal solar tax credit of 0 is applied.
Bear in mind that the figures above are only estimates based on the average Tyrone homeowner. The cost of a solar system for your home may look different depending on factors unique to you, like your household energy use and solar contractor.With typical savings of about $14,000 on utility bills over 20 years, many homeowners in Tyrone find investing in solar has a decent ROI.
To see your potential ROI and connect with a local solar expert, click the button below.
Solar savings over time in Tyrone
| Year | Return on Investment |
|---|---|
| 1 years | $-15,139 |
| 3 years | $-13,438 |
| 5 years | $-11,736 |
| 7 years | $-10,035 |
| 9 years | $-8,334 |
| 11 years | $-6,633 |
| 13 years | $-4,931 |
| 15 years | $-3,230 |
| 17 years | $-1,529 |
| 19 years | $173 |
| 21 years | $1,874 |
| 23 years | $3,575 |
| 25 years | $5,277 |
Top Solar Installers in Tyrone
Installing solar panels yourself can be a dangerous undertaking, which is why hiring a solar installation company is a good option for many homeowners. Solar warranties and repairs are usually included in the cost of installation when you opt for a solar company too, which can save you more money after your upfront investment.
If you're on the hunt for a solar company in Tyrone, we've organized a list of our top suggestions here:
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 Tyrone
Factors that Affect Solar Panel Costs in Tyrone
The cost of installing a solar system in Tyrone can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The biggest one is your system size, and other factors include the equipment you choose, financing options and the solar company you choose.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a variety of factors. One of the major factors is the system size, which is measured in kilowatts (kW). Solar power systems with higher efficiency or power production use better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $3,760.The type of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you choose 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 over time on your power bills. In addition, extra products, like solar batteries, can bump up your total well above the Tyrone average.
Solar Financing Terms
If paying for a solar system in cash is too expensive, solar loans are a solid route because they reduce your upfront costs and allow you to pay for your system over five to seven years on average.However, the interest on solar loans also increases your all-in costs, so it’s vital to take that into consideration as well. You can always lower the total you pay in interest and possibly even your APR by making a larger down payment.
Solar Panel Installation Company
The solar installer you choose to handle your switch to green energy can have an effect on your total costs. There are about 3 solar installation companies operating throughout Tyrone, and each can charge varying amounts for labor and equipment.You may see national solar installers that have lower prices due to their bigger brand name and access to bulk prices, or you might see small, local installation companies offering deals or specials 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 | $5,021 | 19.1 years |
| 8 kW | $3.84 | $21,477 | $7,115 | 18.8 years |
| 10 kW | $3.76 | $26,320 | $9,421 | 18.4 years |
| 12 kW | $3.68 | $30,952 | $11,937 | 18.0 years |
| 14 kW | $3.61 | $35,374 | $14,663 | 17.7 years |
| 16 kW | $3.53 | $39,585 | $17,600 | 17.3 years |
| 18 kW | $3.46 | $43,586 | $20,747 | 16.9 years |
| 20 kW | $3.38 | $47,376 | $24,105 | 16.6 years |
How to Save on Solar Panels
Since the model of solar panels and the installation company you choose significantly impacts your costs and your system’s efficiency, production, and durability, it’s important to select the right ones for you. Here are some things to keep in mind to help with your decision:
- Contract: Before you sign a contract with a solar installer, make sure you look it over carefully so you understand the terms. Also, ask questions if you aren’t sure about some of the terms, such as what the warranty covers and if there are any guarantees about energy production.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and how much efficiency they need. Even though there are many options for which brand of solar panel you can get, not every company will have the exact one you may want or need, so make sure you take a look at their list of options before deciding.
- Installation Process: An important thing to understand when going solar is the installation process itself. Be sure to align on any details you should know with your solar installer, such as what permits you should acquire and how long the project will take.
- 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 that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has satisfied reviews from previous customers.
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 Tyrone, IL Solar Cost FAQs
How much does it cost to install solar panels in Tyrone?
The average cost of solar panels in Tyrone 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 things like the model of solar panels you want, what size system you need and how much energy you use.
Is it better to lease or buy solar panels in Tyrone?
Leasing solar panels can be an appealing choice, because it often comes with low or $0 upfront payments. The drawback is that you won’t be able to save as much. If you lease, you don’t own the system, so you can’t claim any incentives and your home value won’t increase. Buying solar panels is a better way to go if you want to maximize your savings.
Is making the switch to solar worth it?
Solar panels can be a great investment for many homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your electricity bills are already reasonably low, solar panels might not be for you.
How many solar panels should I get to power my home?
The exact number of solar panels you need depends on your household energy consumption and how much 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 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.