Solar Panels Cost $4.8k-$14k in Hoopeston, IL | October, 2024

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

Hoopeston's average monthly electric bill is $134.60, with consumers using an average of 723 kWh. Apartments and other smaller residences with reduced energy requirements are encompassed in this figure.

Hoopeston, IL's electricity rate is 18.61¢ per kWh in October 2024.

If you’re an average electricity consumer in Hoopeston, you will require a solar power system sized at 6 kW or larger to cover your electricity needs. At the moment, a 6 kW setup will set you back about $21,000initially, but thanks to the federal tax credit, you get a 30% reimbursement, bringing the cost down to $14,700.

Are solar panels worth it in Illinois?

For homeowners in Hoopeston who expect to stay in their residence beyond the solar payback period, solar panels make an smart investment. Over a 20 year time frame, a 5 kW solar system in Hoopeston, IL could save you around $20,054, with the average break even time being 8 years.

The cost of not having solar panels in Hoopeston, IL

Without solar panels or another backup power source, you miss out on the previously noted savings and are fully dependent on your electric utility for electricity. Many recent news reports have highlighted that complete dependence on your utility is not always ideal.

The average number of outages per customer per year in Hoopeston is 0.97. On average, the length of an outage is 110.6 minutes. Major events like overloaded power grids, winter storms or vandalism can cause these durations to rise considerably.

A solar energy system, regardless of whether it has a backup battery or not, could help relieve the pressure of future power outages you may experience.

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

Your Energy Needs - Even though larger solar panel systems are more expensive initially, the average price per watt decreases as the system size increases. Homeowners often find that installing a solar system that can replace their electric bill is highly beneficial. This method results in maximum savings.

Make & Model - Like other industries, the solar energy sector includes a range of solar panel brands and designs. The preferences for brand that your contractor has may make it crucial to choose a reputable installer. Opting for superior quality models can yield a greatly enhanced long-term experience for the buyer.

Solar Panel Type - It's understandable that monocrystalline panels are now the standard in the industry. Although the cost is higher, they deliver more energy. Many installers use these types of panels.

Your Property - Challenges like trees, sloping terrain, or additional considerations can increase the difficulty of installing solar panels. Solar installers currently typically use satellite imagery to evaluate your home and incorporate these factors into the initial cost estimate.

Labor Rates - The costs connected to the varying wages paid by companies to their employees are transferred to the consumers. Companies frequently garner higher reviews for their work and customer service when they offer better wages.

Permitting & Interconnection - Your final installation cost will be impacted by local permitting and utility interconnection fees, which change by area. Good local installers will incorporate these figures into your preliminary estimates to prevent any surprises.