Solar Panels Cost $7.6k-$17k in Coles County, IL | November, 2024
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How much do solar panels cost in Coles County, IL in 2024?
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The typical cost per watt for solar in Coles County, IL in November, 2024 is $3.62/W.
Based on this price, we can come to the conclusion that for every 1 kW (1000 watts) of solar power capacounty will cost you $3,620 for installation. When you consider the 30% federal tax credit, a 5 kW system in Coles County will set you back $12,670. Please keep in mind that a larger system could be necessary to fulfill your energy needs.
To your left, you have the option to select your county and access information on the typical roof size along with the average maximum capacity for solar panel installations on homes in your area. Below, you can see a complete analysis of the costs, 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.
Coles County: $12,670US Average: $12,523
Average Payback Period The number of years until you break even on the solar investment.
Coles County: 7 yearsUS Average: 7 years
Average Net 20-year savings The total amount of money saved over 20 years minus the out-of-pocket cost.
Coles County: $20,019US Average: $16,169
Solar Potential in Coles County
Estimated system size and solar electricity production per median viable roof in Coles County.
Roof size 679sq. ft.
Capacity 9.5kW DC
Electricity 11kkWh AC per yr.
Electricity Costs in Coles County, IL & What that Means for Your Solar Panel Pricing
The typical energy consumer in Coles County has a monthly electric bill of 158.83 and uses 776 kWh on average. These statistics also include apartments and smaller homes with generally lower energy needs.
The rate of electricity in Coles County, IL, averaging, is 20.48¢ per kWh for November 2024.
Upfront, a 7 kW solar system will cost around $25,340, after a 30% federal tax credit, the price drops to $17,738.
Go Solar for less than your cell phone bill.
Average solar panel costs by system size in Coles County
Displayed below and to the left is the cost analysis for multiple sizes of the solar panel systems set up in Coles County. Bigger solar installations carry a larger expense, yet they also offer higher electricity savings and larger income tax credits.
The solar panel cost and benefit breakdown, visible in the calculator to the right and below, is based on an average electric bill of $158.83 in Coles County. Modify the $158.83 to your usual bill payment for more accurate results.
System Size
Roof Size Min. space required
Electricity Value Annual Production
Est. Price
System Size 3kW
Roof Size Min. space required
215 ft²
Electricity Value Annual Production $888 a year
Est. Price
$7,602
Savings from a 3kWthis system
Est. yearly production 4,440 kWh
Est. monthly savings $74
Full payback in 4 years
Environmental Impacts
Reduces CO2 emissions by 0.29 tons a year
Equivalent to planting 13 trees a year
Equivalent to driving 713 mi less a year
System Size 4kW
Roof Size Min. space required
286 ft²
Electricity Value Annual Production $1,184 a year
Est. Price
$10,136
Savings from a 4kWthis system
Est. yearly production 5,920 kWh
Est. monthly savings $99
Full payback in 5 years
Environmental Impacts
Reduces CO2 emissions by 0.38 tons a year
Equivalent to planting 18 trees a year
Equivalent to driving 951 mi less a year
System Size 5kW
Roof Size Min. space required
358 ft²
Electricity Value Annual Production $1,480 a year
Est. Price
$12,670
Savings from a 5kWthis system
Est. yearly production 7,400 kWh
Est. monthly savings $123
Full payback in 7 years
Environmental Impacts
Reduces CO2 emissions by 0.48 tons a year
Equivalent to planting 22 trees a year
Equivalent to driving 1,189 mi less a year
System Size 6kW
Roof Size Min. space required
429 ft²
Electricity Value Annual Production $1,776 a year
Est. Price
$15,204
Savings from a 6kWthis system
Est. yearly production 8,880 kWh
Est. monthly savings $148
Full payback in 8 years
Environmental Impacts
Reduces CO2 emissions by 0.58 tons a year
Equivalent to planting 26 trees a year
Equivalent to driving 1,427 mi less a year
System Size 7kW
Roof Size Min. space required
501 ft²
Electricity Value Annual Production $2,072 a year
Est. Price
$17,738
Savings from a 7kWthis system
Est. yearly production 10,360 kWh
Est. monthly savings $159
Full payback in 9 years
Environmental Impacts
Reduces CO2 emissions by 0.62 tons a year
Equivalent to planting 28 trees a year
Equivalent to driving 1,533 mi less a year
Coles County Solar Panel Installation Incentives & Rebates | 2024
For rural small businesses and agricultural properties, the REAP Grant could provide funding that covers between 80% and 100% of the necessary expenses for installing renewable energy systems. Believe you might be eligible? Use our REAP Grant eligibility tool to confirm your eligibility.
The 30% federal income tax credit for residential solar is accessible to almost all homeowners, making solar energy a good choice in numerous regions across the country. State and local governments have various programs to promote the switch to solar energy.
A total of 10 solar rebates and incentives are available in Illinois through multiple utility companies and government organizations.
Solar incentives in ILIncentive Description Value
City of Chicago - Small Business Improvement Fund
Value:Up to $150,000
The Chicago government has established a Small Business Improvement Fund to support businesses making energy efficiency upgrades through grants. A private organization, SomerCor 504, handles the practical business of the fund. Projects eligible for grants include energy-efficient HVAC, roofing, windows, and insulation. Funding can cover three quarters of project costs. Applicants are subject to caps on net worth and number of employees. Businesses that rent their property may be subject to additional conditions. Additional information is available from the SomerCor website.
City of Chicago - Green Building Permit Programs
Value:Up to $25,000
Chicago offers specialized permitting processes for various environmentally-friendly projects or energy efficiency upgrades. Any home, business, or industrial facility may qualify to have their review period expedited and fees waived. Eligible installations and upgrades include solar PV/thermal systems, wind turbines, efficient roofing, rain reclamation, and geothermal systems; all must be LEED or Green Globes certified to qualify. Once a project is approved, the maximum turnaround time shortens to 30 days. Further, any fees up to $25,000 become waived. Additional information and early application forms are available from the Chicago website.
City of Chicago - Solar Express Permit Program
Value:Varies
Through a 2013 ordinance, Chicago homes and businesses may be eligible for a streamlined permitting process for rooftop solar PV installations. Depending on the system's size, applicants may receive a $100 discount on permit fees and a same-day approval with waived zoning evaluation. Interested property owners must hire a solar contractor certified by both ComEd and the City of Chicago. Participating contractors will follow new guidelines established by the ordinance when applying for the expedited process. Additional information is available through the Chicago municipal website.
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 Coles County, IL?
If your intention is to stay in your home beyond the solar payback period, choosing solar panels is a smart option in Coles County. With a 5 kW solar system in Coles County, IL, the average savings over a 20 period is $25,449.2, with break even generally occurring at 7 years.
The cost of not having solar panels in Coles County, IL
The absence of solar panels or an alternative energy backup means that you forgo the savings noted earlier and depend on your electric utility for electricity. Many recent news articles have revealed that complete dependence on your utility isn't always the best option.
Each year, utility customers in Coles County have faced an average of 0.72 outages per year. Each outage, on average, lasts for 90.48 minutes. In the case of major events like earthquakes, vandalism, or aging infrastructure, this period can rise substantially.
Take a look at the component below to see the number of current electricity customers without power in Coles County.
Whether it comes with a backup battery or not, a solar panel system could alleviate the strain of any future power interruptions you may encounter.
Power Outages
Currently, 0 customers are being tracked in Coles County.
What impacts the cost of solar panels in Coles County, IL?
Your Energy Needs - Larger solar panel systems have a higher upfront cost, but the cost per watt diminishes. Most consumers see the usefulness in setting up a solar setup that can generate enough power to cover their entire electric bill, leading to significant savings.
Make & Model - Solar panels and mounting equipment, like many other products, are available in different makes and models. The installer you choose may have specific brand preferences, so it's crucial to choose a reputable installer. To ensure a better long-term experience, buyers should consider higher quality models.
Solar Panel Type - The industry standard is now monocrystalline panels, and rightly so. Even with a higher cost, this technology produce more energy. The majority of installers opt for panels crafted using this material.
Your Property - Uneven land, trees, or additional hindrances can make the installation process more challenging. Nowadays, many solar installers can leverage satellite imagery to assess your home and include these aspects into the initial cost estimate.
Labor Rates - The different wages that companies offer their employees result in costs that are ultimately passed on to consumers. Higher wages often lead to companies getting better reviews for their services and customer service.
Permitting & Interconnection - Local permitting and utility interconnection fees, which change by area, will influence your installation cost. Reputable local installers will include these figures in your initial estimates to provide transparency.
See what solar panels cost in other Coles County cities
The cost per watt for solar panels in Coles County, IL during November of 2024 averages $3.62/W. The cost of installing a 5 kW solar panel system in Coles County, IL is about $12,670post federal tax credit.
At present, there are 10 rebates and incentives available to Illinois residents from various utility and government programs. In addition, nearly all people are eligible for the 30%federal tax credit.
Paying cash will lead to the most savings, but these days there are several options for financing solar panels that make great money sense as well. Your initial quotes will often contain information about financing options provided by installers.
Yes, on average, the return on investment for 5 kW solar panel systems in Coles County, IL is achieved in 7 years, with electricity savings amounting to $25,449.2 over 20 years.
Savings from 
Environmental Impacts 
