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

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

In Lebanon, the average electric bill is $132.74 per month, and residents use 717 kWh. Apartments and compact living spaces with reduced energy consumption are taken into account in this figure.

Lebanon, IL's electricity rate is on average 18.52¢ per kWh in October 2024.

If you use a typical amount of electricity in Lebanon, you'll need a solar panel system of 6 kW or higher to fully cover your full electricity usage demands. Currently, a 6 kW solar installation is priced at around $14,406 after incentives.

Are solar panels worth it in Illinois?

If you foresee living in your home longer than the solar system's payback period, adding solar panels is an obvious decision in Lebanon. In Lebanon, IL, the installation of a 5 kW solar system can save you an average of $19,852.6 over 20 years, with an average break even point of 8 years.

The cost of not having solar panels in Lebanon, IL

The lack of solar panels or another energy backup means you'll forgo the earlier mentioned savings and be completely reliant on your electric utility for power. As shown by recent news stories, complete dependence on your utility company isn't always ideal.

Each year, customers in Lebanon have encountered approximately 0.78 utility outages.Annually, customers in Lebanon have experienced approximately 0.78 utility outages. On average, an outage lasts 92.9 minutes. When major events such as construction accidents, equipment failure or winter storms occur, these durations can increase significantly

A solar panel system could reduce the inconvenience of future outages, even if it is without a backup battery.

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

Your Energy Needs - The cost per watt declines with larger solar panel systems, even if the upfront cost is higher. Many consumers realize it's a smart idea to install a solar system that can produce enough power to offset their electric bill, because it helps them reduce costs.

Make & Model - Just like other products, solar panels and mounting equipment come in a wide variety of makes and models. Choosing an installer with certain system preferences means it's even more necessary essential to go with a reputable company. The use of high-quality makes and models can significantly improve the long-term experience for buyers.

Solar Panel Type - Monocrystalline panels have emerged as the industry standard, and rightly so. They are more expensive but generate more energy. Most professionals in solar installation work with panels constructed from this material.

Your Property - Challenges like trees, uneven ground, or other considerations can increase the difficulty of installing solar panels. Today, most solar installers can assess your home with satellite images and include these elements in the preliminary cost estimate.

Labor Rates - Companies compensate their employees in varied amounts, and these costs are passed down to consumers. Higher wages frequently lead to businesses getting better reviews for their services and customer service.

Permitting & Interconnection - Your final installation price will be influenced by the permitting and utility interconnection fees, which differ by area. Quality local installers will include these figures in your preliminary estimates to guarantee transparency.