Solar Panels Cost $2.6k-$13k in Downers Grove, IL | October, 2024

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

Downers Grove 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.

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

Typical electricity users in Downers Grove 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 $18,750, after the 30% federal tax credit, the final cost is $13,125.

Are solar panels worth it in Illinois?

For homeowners in Downers Grove 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 Downers Grove, IL could save you approximately $14,287.8, with the average break even time being 10 years.

The cost of not having solar panels in Downers Grove, 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 Downers Grove 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.

What impacts the cost of solar panels in Downers Grove, 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.