Solar Panels Cost $5.7k-$17k in Henry County, IL | November, 2024
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How much do solar panels cost in Henry County, IL in 2024?
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The typical price per watt for a solar panel installation in Henry County, IL in November, 2024 is $4.08/W.
For every 1000 watts (1 kW) your solar system can generate, you will need to invest, on average, $4,080 for installation. You are able to come up with this number by using this rate price cost per watt. After receiving the 30% federal tax credit, you can expect to spend around $14,280 for a 5 kW solar panel system in Henry County. Note that a larger system might be necessary to fulfill your energy requirements.
To the left, you can choose your county to see the typical roof size and average maximum capacity for residential solar on homes in your area. You can also see an overview of the costs, payback period and 20 year average savings for a 5 kW system in your county below.
Average out-of-pocket cost for a 5 kW system The upfront amount spent to buy and install solar.
Henry County: $14,280US Average: $12,523
Average Payback Period The number of years until you break even on the solar investment.
Henry County: 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.
Henry County: $12,523US Average: $16,169
Solar Potential in Henry County
Estimated system size and solar electricity production per median viable roof in Henry County.
Roof size 644sq. ft.
Capacity 9kW DC
Electricity 10.4kkWh AC per yr.
Electricity Costs in Henry County, IL & What that Means for Your Solar Panel Pricing
Energy consumers in Henry County pay an average of 137.18 per month for electricity, while using 702 kWh on average. It’s worth remembering that this figure includes apartments and smaller homes that usually have lower energy use.
As of November 2024, the mean rate for electricity per kWh in Henry County, IL amounts to 19.55¢.
The expected cost is around $24,480for a 6 kW solar system initially, but the federal tax credit gives you 30% back, lowering the cost to $17,136.
Go Solar for less than your cell phone bill.
Average solar panel costs by system size in Henry County
Shown below and to the left, you can find a detailed cost analysis for various solar panel system sizes set up in Henry County. The investment for a bigger solar panel setup is greater, but it also yields greater electricity savings and increased income tax credits.
View a cost benefit analysis in the solar panel cost calculator below and to the right, for an average electric bill of $137.18 in Henry County. By changing the $137.18 to your average electricity bill, you can get more personalized results.
System Size
Roof Size Min. space required
Electricity Value Annual Production
Est. Price
System Size 2kW
Roof Size Min. space required
143 ft²
Electricity Value Annual Production $592 a year
Est. Price
$5,712
Savings from a 2kWthis system
Est. yearly production 2,960 kWh
Est. monthly savings $49
Full payback in 3 years
Environmental Impacts
Reduces CO2 emissions by 0 tons a year
Equivalent to planting 0 trees a year
Equivalent to driving 1 mi less a year
System Size 3kW
Roof Size Min. space required
215 ft²
Electricity Value Annual Production $888 a year
Est. Price
$8,568
Savings from a 3kWthis system
Est. yearly production 4,440 kWh
Est. monthly savings $74
Full payback in 5 years
Environmental Impacts
Reduces CO2 emissions by 0 tons a year
Equivalent to planting 0 trees a year
Equivalent to driving 1 mi less a year
System Size 4kW
Roof Size Min. space required
286 ft²
Electricity Value Annual Production $1,184 a year
Est. Price
$11,424
Savings from a 4kWthis system
Est. yearly production 5,920 kWh
Est. monthly savings $99
Full payback in 7 years
Environmental Impacts
Reduces CO2 emissions by 0 tons a year
Equivalent to planting 0 trees a year
Equivalent to driving 2 mi less a year
System Size 5kW
Roof Size Min. space required
358 ft²
Electricity Value Annual Production $1,480 a year
Est. Price
$14,280
Savings from a 5kWthis system
Est. yearly production 7,400 kWh
Est. monthly savings $123
Full payback in 9 years
Environmental Impacts
Reduces CO2 emissions by 0 tons a year
Equivalent to planting 0 trees a year
Equivalent to driving 2 mi less a year
System Size 6kW
Roof Size Min. space required
429 ft²
Electricity Value Annual Production $1,776 a year
Est. Price
$17,136
Savings from a 6kWthis system
Est. yearly production 8,880 kWh
Est. monthly savings $137
Full payback in 10 years
Environmental Impacts
Reduces CO2 emissions by 0 tons a year
Equivalent to planting 0 trees a year
Equivalent to driving 3 mi less a year
Henry County 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 solar energy or wind energy installation expenses. Curious if you fall into this category? Confirm your eligibility with our REAP Grant eligibility tool.
With the availability of a 30% federal income tax credit, solar energy becomes a feasible solution for most homeowners, particularly in numerous parts of the country. A number of state and local programs are set up to increase the adoption of solar energy.
In Illinois, 10 solar rebates and incentives are currently available from different utilities and government agencies.
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 Henry County, IL?
If you're intending to reside in your home past the solar system's payback period, solar panels are a good decision in Henry County. If you install a 5 kW solar system in Henry County, IL, you might save $18,643.2 over 20 years on average, with a break even point at approximately 9 years.
The cost of not having solar panels in Henry County, IL
Opting not to have solar panels or a separate backup energy solution results in you missing out on the savings noted earlier and leaves you fully reliant on your electric utility for electricity. As shown by recent news stories, total reliance on your utility company is not always ideal.
Yearly, customers in Henry County deal with about 1.05 outages. On average, each outage lasts for 86.16 minutes. Major events like winter storms, overloaded power grids, or wildlife damage can considerably extend these durations.
View the component below to see the number of current electricity customers without power in Henry County.
Regardless of whether a backup battery is present, a solar panel system could reduce the impact of future power outages you might face.
Power Outages
Currently, 0 customers are being tracked in Henry County.
What impacts the cost of solar panels in Henry County, IL?
Your Energy Needs - With larger solar panel systems, the cost per watt decreases, despite the greater upfront expense. Many consumers realize it's a great idea to install a solar system that can make enough power to replace their electric bill, because it helps them reduce costs.
Make & Model - Just like other products, solar panels come in a variety of makes and models. The brand preferences of your chosen installer can make it crucial to select a highly rated company. The utilization of high-quality models is expected to provide a more satisfactory long-term experience for buyers.
Solar Panel Type - Monocrystalline panels have become the industry standard, and for valid reasons. Despite the higher price tag, these panels provide greater energy output. The majority of installation experts use panels constructed from this material.
Your Property - Things like rough terrain, trees, or other challenges may cause the installation to be more difficult. With the use of satellite images, the majority of solar installers nowadays can assess your home and incorporate these considerations into the initial cost estimate.
Labor Rates - The wages that companies offer their employees are different, and these expenses are inevitably reflected in consumer prices. Companies paying higher wages usually garner better reviews for their services and customer service.
Permitting & Interconnection - Local permitting and utility level interconnection fees change by area and will affect your final install price. That said, reputable local installers will be able to build these numbers into your first quotes so there are no surprises.
See what solar panels cost in other Henry County cities
As of November, 2024, the average solar panel installation cost in Henry County, IL has reached $4.08/W. Post federal tax credit, a 5 kW solar panel system installation in Henry County, IL will roughly cost $14,280.
If you live in Illinois, you can find 10 rebates and incentives through different utilities and government agencies. In addition, the 30% federal income tax credit is available to almost everyone.
Even though cash payments offer the greatest savings, several financing options for solar panels today are also cost-effective. Many installers collaborate with financing partners and will provide this information in your initial quotes.
Yes, the typical payback time for 5 kW solar panel systems in Henry County, IL is 9 years, and the expected electricity cost savings over 20 years is $18,643.2.
Savings from 
Environmental Impacts 
