Solar Panels Cost $2.5k-$12k in Frankfort, IL | October, 2024

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

The typical monthly kWh used in Frankfort is 601, resulting in an average electric bill of around $114.22. These statistics encompass apartments and other smaller homes with typically lower energy consumption.

The electricity rate per kWh in Frankfort, IL for October 2024 is 18.99¢.

To take care of the electricity needs of an average consumer in Frankfort, a solar system of 5 kW or higher is necessary. You'll spend $12,880 on a 5 kW solar panel installation after taking the 30% federal income tax credit into consideration.

Are solar panels worth it in Illinois?

If you intend to live in your home beyond the time it takes to recoup your solar investment, installing solar panels in Frankfort is an smart decision. Installing a 5 kW solar system in Frankfort, IL will, on average, save you $14,532.8 over 20 years, and you can expect to break even in about 9 years.

The cost of not having solar panels in Frankfort, IL

In addition to missing out on the savings mentioned above, not having solar panels or an alternative backup energy source results in total reliance on your electric utility for electricity. Recent news reports have shown that complete dependence on your utility isn't always the best option.

On a yearly basis, the average number of outages per customer in Frankfort has been 0.59. Each outage lasts an average of 48.99 minutes. In the case of major events such as wildlife damage, equipment failure or lightning strikes, this period can increase substantially.

A solar energy system, regardless of whether it has a backup battery or not, can relieve the strain of future power outages you may encounter.

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

Your Energy Needs - Larger solar panel setups come with a larger price tag, yet the cost per watt decreases as the size of the system expands. It is often advantageous for consumers to install a solar system that can produce enough electricity to fully cover their electric bill, which leads to significant savings.

Make & Model - Just like other products, solar panels and mounting equipment come in a variety of makes and models. Because the installer you select might have specific brand preferences, picking a recommended company is especially important. Investing in superior quality materials can result in a much better long-term experience for the buyer.

Solar Panel Type - It's understandable that monocrystalline panels are now the industry standard. These panels are more expensive, yet they generate more energy. Most installers often utilize panels crafted from this material.

Your Property - Every home and property is unique. Sloping terrain, trees, or v can increase the complexity of the installation. These days, most solar installers can assess your home using satellite images and include these considerations for the preliminary cost estimate.

Labor Rates - The wages that companies offer their employees differ, and these costs are ultimately shown in consumer prices. Reviews for services and customer service are often higher for businesses that pay higher wages.

Permitting & Interconnection - The cost of installation will be influenced by varying local permitting and utility interconnection fees. Reputable local installers will incorporate these numbers into your initial quotes to prevent any surprises.