Solar Panels Cost $4.9k-$14k in Collinsville, IL | October, 2024

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

In Collinsville, the standard electric bill is $131.66 per month, and residents use 700 kWh. These statistics also account for apartments and other compact residences with less energy needs.

As of October 2024, the mean rate for electricity per kWh in Collinsville, IL is 18.8¢.

In Collinsville, average consumers need a system size of 6 kW or greater to fully satisfy their full energy consumption requirements. Currently, a 6 kW setup costs around $14,742 after incentives.

Are solar panels worth it in Illinois?

If your goal is to own your home well past the payback period of your solar system, solar panels are an obvious choice in Collinsville. By installing a 5 kW solar system in Collinsville, IL, you can expect to save roughly $19,313.4 over 20 years, with the break even point typically being 8 years.

The cost of not having solar panels in Collinsville, IL

Choosing not to install solar panels or a different backup energy solution results in you missing out on the savings mentioned earlier and makes you fully reliant on your electric utility for electricity. The media has shown several cases where complete reliance on your utility isn't always ideal.

Lately, the utilities in Collinsville have experienced an average of 0.78 outages per customer annually. Outages typically last for an average of 92.9 minutes. Major occurrences like high winds, grid management errors, or wildlife damage can lead to a significant rise in these time frames.

A solar panel system could alleviate the strain of future outages, even if it doesn't have a backup battery.

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

Your Energy Needs - With larger solar panel systems, the cost per watt declines, despite the greater upfront expense. Setting up a solar panel system that can fully offset the electric bill is advantageous to consumers because of the money saved.

Make & Model - There are numerous brands and models of solar panels and mounting equipment. Your installer’s brand preferences might necessitate selecting a reputable company. The use of superior materials is likely to result in a more satisfactory long-term experience for buyers.

Solar Panel Type - Monocrystalline panels have become the industry standard, and rightly so. Even though they are costlier, they produce more energy. The majority of installers utilize panels constructed from this material.

Your Property - No two properties or homes are identical. Uneven ground, trees, or other impediments can increase the difficulty of the installation. Nowadays, the majority of solar installers can assess your home with satellite images and include these considerations in the first cost estimate.

Labor Rates - The wage differences between companies cause costs that are passed on to the consumers. Reviews for work and customer service are usually higher for companies that pay higher wages.

Permitting & Interconnection - The local permitting and utility interconnection fees, which change by region, will influence your final installation price. Experienced local installers will integrate these numbers into your preliminary quotes to avoid any surprises.