Saturday Feb 04, 2023

Cost of Solar Panels in Illinois: What to Expect (2022) – EcoWatch

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Solar energy is on the rise in the Prairie State, with a predicted 1,700% growth in solar installations over the next five years. But how will this growth affect the cost of solar panels in Illinois?

In this article, we’ll take a look at current average solar costs in the state and give an overview of Illinois solar incentives to help homeowners save money on system costs. Owing to a number of factors, equipment pricing across the state will obviously vary, but the average cost of solar panels in Illinois is still an important benchmark to know if you are considering going solar.

If you’re interested in skipping the guesswork and seeing how much a system would cost for your home right away, you can get a free, no-obligation quote from a certified solar installer in your area by using this tool or filling out the form below.

How Much Do Solar Panels Cost in Illinois?

Although Illinois has witnessed a steep drop in the prices of solar equipment, the state’s average solar panel cost is still slightly above the national average. Based on market research and data from solar companies, we’ve found the average cost of solar panels in Illinois to be $2.73 per watt and the U.S. average to be $2.66 per watt.

This means a 5-kW system (which is a common size for smaller homes) will come with a price tag of about $10,113 after the federal solar tax credit is applied. Here’s a table that shows the average pricing for systems ranging from 5 kW to 10 kW.

Size of Solar Panel System

Illinois Solar Panel Cost

Cost After Federal Tax Credit

5kW

$13,667

$10,113

6kW

$16,400

$12,136

7kW

$19,133

$14,159

8kW

$21,867

$16,181

9kW

$24,600

$18,204

10kW

$27,333

$20,227

As mentioned, the price of a solar system will vary, and the above table simply depicts the average cost of solar panels in Illinois for different system sizes. The best way to find out how much solar would cost for your home is to connect with installers near you.

Consulting local solar companies will not only get you an idea of pricing (and allow you to compare quotes so you make sure you’re getting the best bang for your buck), but it can also help you understand the size and type of system that’s best for your specific needs.

What Determines the Cost of Solar Panels in Illinois?

Like many other personalized technologies, home solar power systems don’t (and can’t) have a fixed pricing nationwide or even state-wide. Here’s a quick list of factors that control the solar panel cost in Illinois.

Solar Equipment

Hundreds of manufacturers worldwide design and produce a staggering variety of solar equipment. The available products thus vary in quality as well as the features they boast.

For instance, you can …….

Source: https://www.ecowatch.com/cost-of-solar-panels-illinois-2656076936.html

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