Solar Panels Cost $5.0k-$15k in Homer, IL | October, 2024

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

The standard monthly kWh usage for a Homer resident is 723, with an average monthly bill of $134.60. Flats and other smaller residences with lower energy consumption are included in this figure.

In October 2024, the electricity rate in Homer, IL is 18.61¢ per kWh.

In Homer, typical consumers has to have a system size of 6 kW or greater to fully account for their entire energy consumption demands. The expense for a a 6 kW solar panel installation is approximately $21,780 before any incentives, but the federal tax credit gives you back 30%, bringing the price down to $15,246.

Are solar panels worth it in Illinois?

For homeowners in Homer looking to stay beyond the payback period of their solar system, solar panels are the best choice. In Homer, IL, a 5 kW solar system installation might save you $19,599 on average over 20 years, with a usual break even point of 8 years.

The cost of not having solar panels in Homer, IL

Without solar panels or another backup power source, you miss out on the earlier mentioned savings and are entirely dependent on your electric utility for electricity. Recent news has proven that full reliance on your utility company isn't always ideal.

The average number of outages per customer per year in Homer is 0.97. On average, the length of an outage is 110.6 minutes. Major events like tornadoes, grid management errors, or wildlife damage can cause these durations to rise considerably.

Even without a backup battery, a solar panel system could ease the strain of possible future power disruptions you may face.

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

Your Energy Needs - Though the initial cost of larger solar panel systems is greater, the price per watt reduces as the system gets larger. For most homeowners, setting up a system that can generate enough power to eliminate their entire electric bill is advantageous, providing significant savings.

Make & Model - Like many other products, there are different makes and models of solar panels on the market. Your installer’s system preferences might necessitate choosing a recommended contractor. The selection of high-quality makes and models can substantially improve the long-term experience for buyers.

Solar Panel Type - Monocrystalline panels have emerged as the standard in the industry, and deservedly so. Despite the higher price tag, these panels provide greater energy output. Most installation experts use panels made from this material.

Your Property - Each property and residence is unique. Issues such as trees, uneven landscapes, or other impediments may add to the complexity of the installation. Most solar installers now are able to utilize satellite imagery to assess your home and incorporate these factors in the initial cost estimate.

Labor Rates - Employees receive varying wages from different companies, and these costs are passed on to the consumers. Higher wages typically lead to companies getting better reviews for their work and customer service.

Permitting & Interconnection - Local permitting and utility level interconnection fees vary by area and will affect your final install price. Quality local installers will build these figures into your initial estimates to prevent any surprises.