Solar Panels Cost 2.7k-13k in Belvidere, IL | October, 2024

Solar Panels Cost $2.7k-$13k in Belvidere, IL | October, 2024

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How much do solar panels cost in Belvidere, IL in 2024?

In Belvidere, IL, the cost per watt of solar panel installations is around $3.96 per watt in October, 2024.

Based on this rate per watt, you can conclude that for every 1 kW (1000 watts) of solar generation capacity will require an investment of $3,960 for installation. After receiving the 30% federal tax credit, a 5 kW solar setup in Belvidere will cost you $13,860. Remember that a bigger system could be required to fulfill your energy demands.

On the left-hand side, you can select your county to view the average roof size and the maximum capacity for solar panels in residences in your area. Outlined below are the price, payback period, and 20-year average savings for a 5 kW system installed in your county.

Average out-of-pocket cost for a 5 kW system The upfront amount spent to buy and install solar.
Belvidere: $13,860US Average: $12,562
Average Payback Period The number of years until you break even on the solar investment.
Belvidere: 10 yearsUS Average: 7 years
Average Net 20-year savings The total amount of money saved over 20 years minus the out-of-pocket cost.
Belvidere: $7,613US Average: $15,784

Solar Potential in Belvidere

Estimated system size and solar electricity production per median viable roof in
Belvidere.

Roof size 894sq. ft.
Capacity 12.5kW DC
Electricity 14.2kkWh AC per yr.

Electricity Costs in Belvidere, IL & What that Means for Your Solar Panel Pricing

Belvidere residents typically have an average monthly electric bill of $114.22 per month, with a typical usage of 601 kWh. Smaller homes, such as apartments, are also covered in the numbers mentioned in the prior sentence.

Belvidere, IL's electricity rate is 18.99¢ per kWh in October 2024.

Typical electricity users in Belvidere need a solar panel system of 5 kW or more to take care of their full power demands. Upfront, a 5 kWsolar panel installation costs around $19,800, after the 30% federal tax credit, the final cost is $13,860.

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Average solar panel costs by system size in Belvidere

To the left, we present a comprehensive pricing details for different solar panel system sizes installed in Belvidere. Although a more extensive solar installation has a greater cost, it also yields increased electricity savings and higher income tax credits.

The solar panel calculator, located below and to the right, offers a detailed cost and benefit analysis based on a typical $114.22 electric bill for Belvidere. Just change the $114.22 to your typical electricity bill for more precise results.

System Size 1kW
Roof Size Min. space required
72 ft²
Electricity Value Annual Production $281 a year
Est. Price
$2,772
Savings from a 1kWthis system
  • Est. yearly production 1,480 kWh
  • Est. monthly savings $23
  • Full payback in 2 years
Environmental Impacts
  • Reduces CO2 emissions by 0.47 tons a year
  • Equivalent to planting 22 trees a year
  • Equivalent to driving 1,172 mi less a year
System Size 2kW
Roof Size Min. space required
143 ft²
Electricity Value Annual Production $562 a year
Est. Price
$5,544
Savings from a 2kWthis system
  • Est. yearly production 2,960 kWh
  • Est. monthly savings $47
  • Full payback in 4 years
Environmental Impacts
  • Reduces CO2 emissions by 0.95 tons a year
  • Equivalent to planting 43 trees a year
  • Equivalent to driving 2,343 mi less a year
System Size 3kW
Roof Size Min. space required
215 ft²
Electricity Value Annual Production $844 a year
Est. Price
$8,316
Savings from a 3kWthis system
  • Est. yearly production 4,440 kWh
  • Est. monthly savings $70
  • Full payback in 6 years
Environmental Impacts
  • Reduces CO2 emissions by 1.42 tons a year
  • Equivalent to planting 65 trees a year
  • Equivalent to driving 3,515 mi less a year
System Size 4kW
Roof Size Min. space required
286 ft²
Electricity Value Annual Production $1,125 a year
Est. Price
$11,088
Savings from a 4kWthis system
  • Est. yearly production 5,920 kWh
  • Est. monthly savings $94
  • Full payback in 8 years
Environmental Impacts
  • Reduces CO2 emissions by 1.89 tons a year
  • Equivalent to planting 87 trees a year
  • Equivalent to driving 4,687 mi less a year
System Size 5kW
Roof Size Min. space required
358 ft²
Electricity Value Annual Production $1,406 a year
Est. Price
$13,860
Savings from a 5kWthis system
  • Est. yearly production 7,400 kWh
  • Est. monthly savings $114
  • Full payback in 10 years
Environmental Impacts
  • Reduces CO2 emissions by 2.3 tons a year
  • Equivalent to planting 106 trees a year
  • Equivalent to driving 5,700 mi less a year

Belvidere Solar Panel Installation Incentives & Rebates | 2024

If you run a small business or farm in a rural area, you could receive REAP Grant support that covers 80% to 100% of your solar or wind turbine installation costs. If you believe you might be eligible, we suggest using our REAP Grant eligibility tool to verify your qualification.

For those considering residential solar, the 30% federal income tax credit is available to almost all homeowners, which makes solar power a good investment in various parts of the country. Additionally, numerous state and local programs aim to further promote the adoption of solar power.

Illinois residents have access to 7 solar rebate and incentive programs from multiple utilities and governmental agencies.

Solar incentives in IL

Illinois Clean Energy Community Foundation Grants

Value:Varies

Commonwealth Edison funds the Illinois Clean Energy Community Foundation (ICECF). The foundation supports private investment in renewable energy for Illinois through a variety of grant initiatives targeted at communities and schools. Eligible projects for a grant include solar, wind, and biomass installations interconnected to the grid. One initiative funding wind power for schools also supports related educational programs. Additional information is available through the ICECF website.

Net Metering

Value:Varies

Renewable energy and distributed generation customers in Illinois may enter net metering or "dual metering" arrangements with their utility. By using their generation system, customers generate renewable energy credits. By law, they hold ownership of the RECs they generate, but they may choose to sell them to the utility upon signing a net metering contract. Dual metering is for property types in a "competitive class". Utilities should install a dual-channel meter to measure net excess generation (NEG) sent back to the grid. The customer will receive a bill credit for monthly NEG at a variable rate. Net metering operates in a similar fashion, but uses a single bidirectional meter and is designed for residential and certain commercial properties (these are "non-competitive classes".) Additional information is available from the Illinois Department of Energy.

Interconnection Standards

Value:Varies

Illinois has adopted various state standards for distributed generation and interconnection using systems rated for less than 10 MW. Regulations are amended and enforced by the Illinois Commerce Commission (ICC). Each connected generation system is sorted into one of four tiers based on capacity. Which tier a system falls into determines engineering standards, permit processes, and the minimum liability insurance coverage that the system's owner must carry. Distributed generation for systems over 10 MW is also standardized under a different set of rules. Additional information is available from the ICC website.

Renewable Portfolio Standard

Value:Varies

The Illinois legislature enacted the state's first renewable portfolio standard in 2007 and established the Illinois Power Agency for its enforcement. The current standard requires 25% of the state's renewable energy to come from renewable sources by 2026, with 6% coming from solar installations, 75% from wind turbines, and 1% from distributed generation systems. Compliance is measured using a renewable energy credit (REC) system pegging electric capacity to an adjusted dollar value. Utilities in the state must obtain these credits through their own generation activities or by purchasing them from distributed generation customers.

Energy Efficiency in State Government

Value:Varies

New government buildings or renovation projects in Illinois should comply with certain green building standards. Any new occupied state building or renovation affecting a maximum of 10,000 square feet should meet the highest feasible LEED standard, though the state does not need to apply for formal LEED certification. New buildings or renovation projects over 10,000 square feet must meet LEED Silver standards and apply for formal certification. A project may be exempt if costs toward meeting green building standards exceed benefits. Historic buildings may carry an exemption by default if improvements would negatively affect their aesthetics or status. Additional information is available from the Illinois Department of Commerce website.

Illinois Municipal Electric Agency - Electric Efficiency Program

Value:Varies

Residential, commercial, and wholesale customers of the Illinois Municipal Electric Agency may be eligible for a variety of financial incentives on energy efficiency equipment and projects. Eligible items and services will change from time to time. Current programs include rebate offers on HVAC, lighting, motors, and generation equipment. For each of these projects, the rebate amount averages at 7 cents per saved kilowatt hour for the first year of the improvements' deployment. The application process involves project reviews. Customers should submit copies of the city permits they have obtained for their proposed projects. To ensure accountability, IMEA requires the submission of receipts and a final inspection upon completion of the project. Additional information is available from the IMEA website.

Solar Renewable Energy Credits

Value:Varies

The Illinois Power Agency is a legislative organization that aids several private electrical utilities (Commonwealth Edison and Ameren, specifically) in purchasing renewable energy credits, including credits designated exclusively for solar energy. To meet renewable portfolio standards, the IPA acts as a diplomatic middleman to create purchasing agreements between utilities. As IPA both designs and operates procurement programs using a variety of tracking systems, customers participating in arrangements such as net metering may interface directly with the IPA. Additional information is available from the agency website.

Are solar panels worth it in Illinois?

For homeowners in Belvidere planning to stay beyond the payback period of their solar system, solar panels are the clear choice. Over a 20 year period, a 5 kW solar system in Belvidere, IL could save you approximately $13,552.8, with the average break even time being 10 years.

The cost of not having solar panels in Belvidere, IL

Without solar panels or another backup power source, you miss out on the savings highlighted previously and rely entirely on your electric utility for electricity. Recent media coverage has made it clear that relying solely on your utility isn't always the best idea.

In recent times, the average number of utility outages per customer annually in Belvidere has been about 0.59. On average, an outage lasts 48.99 minutes. Major events such as overloaded power grids, landslides or construction accidents can significantly extend these time frames.

Even without a backup battery, a solar panel system can reduce the pressure of future outages you may encounter.

Power Outages

Currently, 0 customers are being tracked in Boone County.

Learn more

Customers Out:

0

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What impacts the cost of solar panels in Belvidere, IL?

Your Energy Needs - Although the initial cost is higher, the cost per watt declines with larger solar panel systems. Homeowners often find that installing a solar system that can cover their entire electric bill is advantageous, ensuring maximum savings.

Make & Model - There are a range of makes and models of solar panels and mounting equipment. Selecting an installer with specific brand preferences means it's even more vital important to go with a highly rated company. The selection of better materials can substantially improve the long-term experience for buyers.

Solar Panel Type - It's clear why monocrystalline panels are now the go-to choice in the industry. Even though they are more expensive, they provide more energy. Many installers work with panels made from this material.

Your Property - Each home and property is unique in its own way. Uneven ground, trees, or additional challenges may complicate the installation. Today, the majority of solar installers can assess your home with satellite images and factor in these elements in the preliminary cost estimate.

Labor Rates - The costs related to the varying wages offered by companies to their employees are borne by the consumers. Frequently, businesses paying more in wages also enjoy higher ratings for their services and customer service.

Permitting & Interconnection - The fees for local permitting and utility interconnection, which vary by area, will affect the cost of your installation. Reliable local installers will integrate these figures into your first estimates to avoid any surprises.

See what solar panels cost in other IL cities

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Who are the best solar installers in Belvidere?

Freedom Forever

Temecula, CA(800) 685-1850

Services

  • Installation of batteries for energy storage.
  • Expertise in consulting on advantageous financing for solar.
  • Installation of solar arrays.

Solar SME Inc.

Duncanville, TX(832) 626-2337

Services

  • Installation of batteries for energy storage.
  • Installation of solar arrays.
  • Expertise in consulting on advantageous financing for solar.

YellowLite

Cleveland, OH(877) 743-8757

Services

  • Reparation of solar arrays.
  • Expertise in consulting on advantageous financing for solar.
  • Installation of batteries for energy storage.
  • Installation of solar arrays.

Academy Energy Group

Newburgh, IN(812) 518-2150

Services

  • Auditing of energy requirements for independent energy generation.
  • Solar systems for selling electricity back to the grid.
  • Monitoring of independent energy generation.
  • Reparation of solar arrays.
  • Installation of solar arrays.

SunVest Solar

Pewaukee, WI(262) 547-1200

Services

  • Installation of solar arrays.
  • Expertise in consulting on advantageous financing for solar.

Plug PV

Albany, NY(518) 948-5316

Services

  • Expertise in consulting on advantageous financing for solar.
  • Installation of solar arrays.
  • Installation of batteries for energy storage.
  • Monitoring of independent energy generation.

SunPro Solar

Mandeville, LA(866) 599-3643

Services

  • Auditing of energy requirements for independent energy generation.
  • Installation of solar arrays.
  • Monitoring of independent energy generation.
  • Solar systems for selling electricity back to the grid.
  • Expertise in consulting on advantageous financing for solar.
  • Consulting on all things solar related.
  • Installation of batteries for energy storage.

Power Home Solar

Mooresville, NC(704) 870-3670

Services

  • Installation of batteries for energy storage.
  • Consulting on all things solar related.
  • Solar systems for selling electricity back to the grid.
  • Expertise in consulting on advantageous financing for solar.
  • Reparation of solar arrays.
  • Installation of solar arrays.

RISE Power

Richardson, TX(855) 747-3769

Services

  • Solar systems for selling electricity back to the grid.
  • Installation of solar arrays.
  • Reparation of solar arrays.
  • Installation of batteries for energy storage.
  • Monitoring of independent energy generation.
  • Consulting on all things solar related.

Dividend Finance

San Francisco, CA(415) 805-7000

Services

  • Expertise in consulting on advantageous financing for solar.
  • Installation of solar arrays.
  • Installation of batteries for energy storage.

Eagle Point Solar

Dubuque, IA(563) 582-4044

Services

  • Installation of solar arrays.
  • Reparation of solar arrays.
  • Expertise in consulting on advantageous financing for solar.

Palmetto Solar

Charleston, SC(855) 339-1831

Services

  • Installation of solar arrays.
  • Installation of batteries for energy storage.
  • Solar systems for selling electricity back to the grid.
  • Expertise in consulting on advantageous financing for solar.
  • Reparation of solar arrays.

SunPower Corporation

San Jose, CA(800) 786-7693

Services

  • Installation of solar arrays.
  • Solar systems for selling electricity back to the grid.
  • Monitoring of independent energy generation.
  • Installation of batteries for energy storage.
  • Reparation of solar arrays.
  • Consulting on all things solar related.
  • Expertise in consulting on advantageous financing for solar.

Silver Sun Solar

Deltona, FL(340) 227-7785

Services

  • Expertise in consulting on advantageous financing for solar.
  • Installation of batteries for energy storage.
  • Solar systems for selling electricity back to the grid.
  • Installation of solar arrays.

Tick Tock Energy

Effingham, IL(217) 994-9020

Services

  • Installation of solar arrays.
  • Expertise in consulting on advantageous financing for solar.
  • Installation of batteries for energy storage.

Harvest Solar

Jackson, MI(888) 907-6527

Services

  • Installation of solar arrays.
  • Expertise in consulting on advantageous financing for solar.
  • Consulting on all things solar related.

AES Solar

Carterville, IL(618) 988-0888

Services

  • Expertise in consulting on advantageous financing for solar.
  • Solar systems for selling electricity back to the grid.
  • Consulting on all things solar related.
  • Installation of batteries for energy storage.
  • Installation of solar arrays.

Sunnova Energy

Houston, TX(866) 786-6682

Services

  • Installation of batteries for energy storage.
  • Installation of solar arrays.
  • Expertise in consulting on advantageous financing for solar.

Sunrun

San Francisco, CA(833) 394-3384

Services

  • Expertise in consulting on advantageous financing for solar.
  • Monitoring of independent energy generation.
  • Installation of batteries for energy storage.
  • Installation of solar arrays.
  • Solar systems for selling electricity back to the grid.

GRNE Solar

Palatine, IL(312) 859-3417

Services

  • Installation of solar arrays.
  • Consulting on all things solar related.
  • Expertise in consulting on advantageous financing for solar.
  • Installation of batteries for energy storage.

Sigora Solar

Charlottesville, VA(434) 465-6192

Services

  • Solar systems for selling electricity back to the grid.
  • Expertise in consulting on advantageous financing for solar.
  • Installation of batteries for energy storage.
  • Installation of solar arrays.

Entegrity

Little Rock, AR(800) 700-1414

Services

  • Expertise in consulting on advantageous financing for solar.
  • Installation of solar arrays.

Ideal Energy

Fairfield, IA(800) 634-4454

Services

  • Expertise in consulting on advantageous financing for solar.
  • Reparation of solar arrays.
  • Installation of batteries for energy storage.
  • Installation of solar arrays.

Soltage

Jersey City, NJ(201) 432-1786

Services

  • Expertise in consulting on advantageous financing for solar.
  • Installation of batteries for energy storage.
  • Installation of solar arrays.

Engie North America

Houston, TX(713) 636-0000

Services

  • Expertise in consulting on advantageous financing for solar.
  • Installation of batteries for energy storage.
  • Installation of solar arrays.

City Electric Supply

Dallas, TX(866) 634-9853

Services

  • Installation of solar arrays.
  • Expertise in consulting on advantageous financing for solar.
  • Consulting on all things solar related.

LightEdison

Denver, CO(888) 966-6377

Services

  • Reparation of solar arrays.
  • Installation of batteries for energy storage.
  • Expertise in consulting on advantageous financing for solar.
  • Installation of solar arrays.

PowerHome Solar

Mooresville, NC(704) 870-3670

Services

  • Installation of solar arrays.
  • Expertise in consulting on advantageous financing for solar.
  • Installation of batteries for energy storage.
  • Solar systems for selling electricity back to the grid.

Empire Solar Group

Salt Lake City, UT(800) 467-4562

Services

  • Installation of solar arrays.
  • Solar systems for selling electricity back to the grid.
  • Installation of batteries for energy storage.

Badass Energy

Claremont, CA(909) 320-9860

Services

  • Installation of solar arrays.
  • Consulting on all things solar related.
  • Installation of batteries for energy storage.

Belvidere, IL Solar Panel Cost FAQs

  • The average solar panel cost in Belvidere, IL as of October, 2024 is estimated at $3.96/W. After federal tax credits, the installation of a 5 kW solar panel system in Belvidere, IL is estimated to cost $13,860.
  • Utilities and government agencies in Illinois are currently offering 7 different rebates and incentives. Furthermore, the majority of people qualify for the 30% federal tax credit.
  • Paying cash will result in the most savings, but currently there are multiple options for financing solar panels that make great money sense as well. Financing options from installers will often be specified in your initial quotes.
  • Yes, homeowners in Belvidere, IL generally see a payback time of 10 years for 5 kW solar panel systems, with electricity savings averaging $13,552.8 over a 20-year period.
Ginalyn Gelera
Last Reviewed By: Ginalyn Gelera
Published: 2024-10-01