Solar Panels Cost 5.8k-17k in Eureka, IL | October, 2024

Solar Panels Cost $5.8k-$17k in Eureka, IL | October, 2024

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

To go solar in Eureka, IL in the month of October, 2024 is around $4.17/W.

For every 1000 watts (1 kW) your solar system can produce, you will have to invest, on average, $4,170 for its installation. A 5 kW solar system in Eureka will typically cost you $14,595 after the 30% federal tax credit. It's important to note that a larger system could be essential to fully meet your energy needs.

To the left, you have the option to select your county and find the typical roof size along with the average maximum capacity for solar panels in homes in your area. You can review the price, payback period, and 20-year average savings for a 5 kW system installed in your county below.

Average out-of-pocket cost for a 5 kW system The upfront amount spent to buy and install solar.
Eureka: $14,595US Average: $12,562
Average Payback Period The number of years until you break even on the solar investment.
Eureka: 9 yearsUS Average: 7 years
Average Net 20-year savings The total amount of money saved over 20 years minus the out-of-pocket cost.
Eureka: $10,748US Average: $15,784

Solar Potential in Eureka

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

Roof size 733sq. ft.
Capacity 10.25kW DC
Electricity 11.9kkWh AC per yr.

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

Eureka energy consumers typically use 700 kWh monthly, with an average monthly bill of $131.66. Small homes, including condos and bungalows, are also included in the numbers indicated in the previous sentence.

The average rate for electricity in Eureka, IL in October, 2024 is 18.8¢ per kWh.

Typical energy users in Eureka must have a solar panel system of 6 kW or higher to take care of their full electricity needs. After incentives, a 6 kW solar system costs around $17,514.

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Average solar panel costs by system size in Eureka

Shown on the left side, you'll see a comprehensive cost summary of the various sizes of solar panel systems installed in Eureka. Naturally, a bigger solar system implies a higher initial expense, but it also leads to greater electricity savings and more substantial income tax credits.

In the solar panel cost calculator located below and to the right, you can view a cost and benefit breakdown to match an average $131.66electric bill in Eureka. For a more accurate estimate, swap the $131.66 with your usual electricity bill amount.

System Size 2kW
Roof Size Min. space required
143 ft²
Electricity Value Annual Production $562 a year
Est. Price
$5,838
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 0.82 tons a year
  • Equivalent to planting 38 trees a year
  • Equivalent to driving 2,024 mi less a year
System Size 3kW
Roof Size Min. space required
215 ft²
Electricity Value Annual Production $844 a year
Est. Price
$8,757
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 1.23 tons a year
  • Equivalent to planting 56 trees a year
  • Equivalent to driving 3,036 mi less a year
System Size 4kW
Roof Size Min. space required
286 ft²
Electricity Value Annual Production $1,125 a year
Est. Price
$11,676
Savings from a 4kWthis system
  • Est. yearly production 5,920 kWh
  • Est. monthly savings $94
  • Full payback in 7 years
Environmental Impacts
  • Reduces CO2 emissions by 1.64 tons a year
  • Equivalent to planting 75 trees a year
  • Equivalent to driving 4,048 mi less a year
System Size 5kW
Roof Size Min. space required
358 ft²
Electricity Value Annual Production $1,406 a year
Est. Price
$14,595
Savings from a 5kWthis system
  • Est. yearly production 7,400 kWh
  • Est. monthly savings $117
  • Full payback in 9 years
Environmental Impacts
  • Reduces CO2 emissions by 2.04 tons a year
  • Equivalent to planting 94 trees a year
  • Equivalent to driving 5,059 mi less a year
System Size 6kW
Roof Size Min. space required
429 ft²
Electricity Value Annual Production $1,687 a year
Est. Price
$17,514
Savings from a 6kWthis system
  • Est. yearly production 8,880 kWh
  • Est. monthly savings $132
  • Full payback in 11 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

Eureka Solar Panel Installation Incentives & Rebates | 2024

Rural small business and farm owners might benefit from the REAP Grant, which could cover 80% to 100% of their photovoltaic or wind energy installation expenses. Think you fall into this category? Confirm your qualification with our REAP Grant eligibility tool.

A 30% federal tax credit is available to most homeowners for residential solar installations, which helps make solar energy a sensible choice in various regions in the United States. Moreover, there are a number of state and local efforts designed to further promote the uptake of solar energy.

Multiple utilities and governmental organizations in Illinois offer 7 solar rebate and incentive programs.

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?

If your goal is to maintain your home well past the payback period of your solar system, solar panels are an excellent choice in Eureka. A 5 kW system in Eureka, IL will enable you to save the average homeowner, on average, $17,003.4 over a 20 period and the average break even point is 9 years.

The cost of not having solar panels in Eureka, 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. Complete reliance on your utility provider is not always ideal, as recent examples in the news have shown.

Residents in Eureka encounter roughly 0.78 outages per year. Typically, outages have an average duration of 92.9 minutes. However, during significant events such as equipment failure, hurricanes or wildlife damage, these times can drastically increase.

A solar panel system, with or without a backup battery, could help mitigate the effects of future outages you might experience.

Power Outages

Currently, 0 customers are being tracked in Woodford County.

Learn more

Customers Out:

0

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

Your Energy Needs - Larger solar panel systems have a higher upfront cost, but the cost per watt decreases. For most consumers, setting up a system that can produce enough power to eliminate their entire electric bill is advantageous, providing significant savings.

Make & Model - Solar panels, like many other products, are offered in various makes and models. Your installer’s system preferences might necessitate selecting a highly rated installer. The selection of superior materials can substantially better the long-term experience for buyers.

Solar Panel Type - There's a good reason why monocrystalline panels are now considered the industry standard. Although they are more expensive, they provide increased energy. Many installers use panels constructed of this material.

Your Property - Each property and home is one of a kind. Trees, sloped land, or other barriers can increase the difficulty of installing solar panels. Most solar installers nowadays leverage satellite imagery to evaluate your home and integrate these factors into the first cost estimate.

Labor Rates - The varied employee wages paid by companies result in costs that consumers end up paying . Businesses often get higher reviews for their services and customer service when they pay higher wages.

Permitting & Interconnection - Permitting and utility interconnection fees differ locally and will impact your installation cost. Quality installers will factor these costs into your initial quotes to prevent unexpected expenses.

See what solar panels cost in other IL cities

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Who are the best solar installers in Eureka?

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.

Eureka, IL Solar Panel Cost FAQs

  • The typical cost per watt for solar panels in Eureka, IL as of October, 2024 is $4.17/W. The cost of installing a 5 kW solar panel system in Eureka, IL is about $14,595 post federal tax credit.
  • If you live in Illinois, you can find 7 rebates and incentives through different utilities and government agencies. Moreover, nearly everyone is eligible for the 30% federal income tax credit.
  • Although paying in cash offers the most savings, numerous financing options for solar panels now exist that are financially sensible. Many installers will include information about their financing partners in the initial quotes they provide.
  • Yes, in Eureka, IL, the average payback period for 5 kW solar panels is 9 years, resulting in average electricity savings of $17,003.4 over 20 years.
Ginalyn Gelera
Last Reviewed By: Ginalyn Gelera
Published: 2024-10-01