Solar Panels Cost $2.6k-$13k in Lansing, IL | October, 2024

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

For Lansing energy consumers, the average electric bill is $114.22 per month, with a usage of 601 kWh. Small apartments are also included in the statistics mentioned in the previous sentence. The lower energy use in these types of dwellings impacts those averages.

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

If you’re a typical electricity user in Lansing you has to have a 5 kW or higher sized system to cover your full energy requirements. Upfront, a 5 kW setup is priced at $18,650, but after a 30% tax credit, the total cost is $13,055.

Are solar panels worth it in Illinois?

If your intention is to stay in your home beyond the solar payback period, installing solar panels is a wise option in Lansing. In Lansing, IL, the installation of a 5 kW solar system can save you an average of $14,357.8 over 20 years, with an average break even point of 10 years.

The cost of not having solar panels in Lansing, IL

Without solar panels or another energy backup source, you lose out on the savings highlighted earlier and are completely dependent on your electric utility for power. Total dependence on your utility provider is not always ideal, as recent examples in the news have highlighted.

Annually, the average number of outages per customer in Lansing is about 0.59. On average, an outage lasts 48.99 minutes. When major events such as lightning strikes, construction accidents, or equipment failure occur, these durations can increase significantly

A solar panel system could alleviate the burden of future outages, even if it doesn't have a backup battery.

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

Your Energy Needs - The cost per watt decreases with larger solar panel systems, even if the upfront cost is greater. Setting up a solar system that produces sufficient electricity to eliminate their electric bill is advantageous to most individuals, ensuring savings.

Make & Model - Just like many products, solar panels are offered in a wide variety of makes and models. Given the certain brand preferences an installer might have, choosing a highly rated installer is crucial. For buyers seeking a better long-term experience, choosing superior quality models is critical.

Solar Panel Type - The industry standard is now monocrystalline panels, and rightly so. Even though they are costlier, they provide more energy. The majority of installers work with panels made from this material.

Your Property - Challenges like trees, sloping terrain, or additional obstacles can increase the difficulty of installing solar panels. Nowadays, solar installers frequently leverage satellite images to assess your home and incorporate these elements into the initial cost estimate.

Labor Rates - Differences in employee wages across companies result in expenses that are transferred to the consumers. Reviews for work and customer service are often higher for businesses that pay higher wages.

Permitting & Interconnection - Installation costs will be affected by regularly changing local permitting and utility interconnection fees, depending on the region. Good local installers will integrate these figures into your first estimates to prevent any surprises.