Solar Panels Cost $7.8k-$18k in Hancock County, IL | November, 2024
High Power Bills?
Reduce or replace your electricity bill with solar
No data available
How much do solar panels cost in Hancock County, IL in 2024?
No data available
It is around $3.74 per watt in the month of November, 2024 in Hancock County, IL to get solar installed.
Put another way, solar panels will cost you $3,740 per 1000 watts (1 kW) of production capacounty. After deducting the 30% federal tax credit, a 5 kW solar panel system in Hancock County generally costs $13,090. However, please keep in mind that a higher capacity system may be needed to adequately cover your energy needs.
Select your county from the menu on the left to find out the typical roof size and maximum solar panel capacity for 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.
Hancock County: $13,090US Average: $12,523
Average Payback Period The number of years until you break even on the solar investment.
Hancock 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.
Hancock County: $19,412US Average: $16,169
Solar Potential in Hancock County
Estimated system size and solar electricity production per median viable roof in Hancock County.
Roof size 679sq. ft.
Capacity 9.5kW DC
Electricity 11kkWh AC per yr.
Electricity Costs in Hancock County, IL & What that Means for Your Solar Panel Pricing
The typical monthly electric bill for Hancock County residents is 158.80, with an average usage of 775 kWh. Bear in mind that this figure covers smaller residences including apartments, known for less energy use.
The mean rate for electricity in Hancock County, IL during November, 2024 is 20.49¢ per kWh.
Right now, a 7 kW setup will set you back about $26,180initially, but thanks to the 30% federal tax credit, you receive 30% back, reducing the total to $18,326.
Go Solar for less than your cell phone bill.
Average solar panel costs by system size in Hancock County
To the left, you'll see a detailed price breakdown of the different sizes of solar panel systems implemented in Hancock County. When you select a bigger solar system, the cost is higher, but it also results in higher electricity savings and a greater income tax credit.
The cost-benefit analysis for solar panels, presented in the calculator to the right and below, is based on an average electric bill of $158.80 in Hancock County. By changing the $158.80 to your typical electricity bill, you can get tailored 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
$7,854
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 1.08 tons a year
Equivalent to planting 50 trees a year
Equivalent to driving 2,676 mi less a year
System Size 4kW
Roof Size Min. space required
286 ft²
Electricity Value Annual Production $1,184 a year
Est. Price
$10,472
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 1.44 tons a year
Equivalent to planting 66 trees a year
Equivalent to driving 3,568 mi less a year
System Size 5kW
Roof Size Min. space required
358 ft²
Electricity Value Annual Production $1,480 a year
Est. Price
$13,090
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 1.8 tons a year
Equivalent to planting 83 trees a year
Equivalent to driving 4,459 mi less a year
System Size 6kW
Roof Size Min. space required
429 ft²
Electricity Value Annual Production $1,776 a year
Est. Price
$15,708
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 2.16 tons a year
Equivalent to planting 99 trees a year
Equivalent to driving 5,351 mi less a year
System Size 7kW
Roof Size Min. space required
501 ft²
Electricity Value Annual Production $2,072 a year
Est. Price
$18,326
Savings from a 7kWthis system
Est. yearly production 10,360 kWh
Est. monthly savings $159
Full payback in 10 years
Environmental Impacts
Reduces CO2 emissions by 2.32 tons a year
Equivalent to planting 107 trees a year
Equivalent to driving 5,749 mi less a year
Hancock County Solar Panel Installation Incentives & Rebates | 2024
The REAP Grant can potentially cover between 80% and 100% of the installation costs for solar energy or wind turbines for rural small businesses and farms. If you think you might be in this category, we suggest verifying your qualification with our REAP Grant eligibility tool.
For those looking into residential solar options, a 30% federal income tax credit is commonly available, boosting the appeal and practicality of solar energy in various areas throughout the nation. Alongside federal incentives, there are many state and local efforts to support solar energy adoption.
Illinois features 10 solar rebate and incentive programs available from various utilities 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 Hancock County, IL?
Planning to stay in your house beyond the solar payback period? Solar panels are a wise investment in Hancock County. Over a 20 year time frame, a 5 kW solar system in Hancock County, IL could save you approximately $25,022, with the average break even time being 7 years.
The cost of not having solar panels in Hancock County, IL
Without solar panels or another backup power source, you lose out on the earlier mentioned savings and are fully dependent on your electric utility for electricity. As demonstrated by recent news, complete reliance on your utility isn't always the most favorable situation.
Annually, the utilities in Hancock County have reported about 0.72 outages per customer. Each outage, on average, lasts for 90.48 minutes. In the case of major events like lightning strikes, overloaded power grids, or wildlife damage, this period can rise substantially.
Take a look at the component below to see the number of current electricity customers without power in Hancock County.
A solar energy system, whether it includes a backup battery or not, should help relieve the burden of future power outages you may encounter.
Power Outages
Currently, 0 customers are being tracked in Hancock County.
What impacts the cost of solar panels in Hancock County, IL?
Your Energy Needs - Even though larger solar panel systems have a higher initial cost, the cost per watt decreases. Many homeowners find it advantageous to install a system that can produce enough electricity to fully cover the entirety of their electric bill. This math makes the most sense for maximum savings.
Make & Model - Solar panels and mounting equipment, like many other products, are available in a variety of makes and models. Your installer’s brand preferences might require picking a reputable installer. Superior quality materials frequently result in a more satisfactory long-term experience for buyers.
Solar Panel Type - The industry standard is now monocrystalline panels, and justifiably so. Even though they are more expensive, they generate more energy. Many installers utilize panels crafted from this material.
Your Property - No two properties or homes are the same. Trees, irregular terrain, or other obstructions can make the installation process more challenging. With the use of satellite images, many solar installers nowadays can assess your home and include these elements into the first cost estimate.
Labor Rates - The varying wages that companies give their employees result in costs that are ultimately transferred to consumers. Higher wages generally correlate with better reviews for businesses' work and customer service.
Permitting & Interconnection - The cost of installation will change depending on local permitting and utility interconnection fees. Experienced local installers will include these figures in your preliminary estimates to guarantee transparency.
See what solar panels cost in other Hancock County cities
Go Solar for less than your cell phone bill.
Who are the best solar installers in Hancock County?
As of November, 2024, the typical cost for solar panels in Hancock County, IL is $3.74/W. After federal tax credits, the installation of a 5 kW solar panel system in Hancock County, IL is estimated to cost $13,090.
Right now, Illinois has 10 rebates and incentives available through a variety of utility companies and government entities. Additionally, the vast majority qualify for the 30% federal tax credit.
Paying cash offers the most savings, yet there are several financing options available today for solar panels that are also beneficial. Initial quotes from installers will frequently include information about available financing options.
Yes, on average, 5 kW solar panels in Hancock County, IL pay for themselves in 7 years, with homeowners saving approximately $25,022 on electricity over 20 years.
Savings from 
Environmental Impacts 
