Solar Panels Cost 2.6k-13k in Loves Park, IL | October, 2024

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

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How much do solar panels cost in Loves Park, IL in 2024?

It is approximately $3.85/W in October, 2024 in Loves Park, IL to go solar.

This means that, for every 1000 watts (or 1 Kw) your system can generate you will spend $3,850 to get your system installed in . In Loves Park, after receiving the 30% federal income tax credit, a 5 kW solar system will cost you $13,475. Please note that a more powerful system may be essential to meet your energy demands.

On the left, you can select your county to find out the average roof size and the maximum capacity for solar panels on houses in your area. The following outline, below, highlights the price, payback period, and 20-year average savings for a 5 kW system installed in your county.

Average out-of-pocket cost for a 5 kW system The upfront amount spent to buy and install solar.
Loves Park: $13,475US Average: $12,562
Average Payback Period The number of years until you break even on the solar investment.
Loves Park: 10 yearsUS Average: 7 years
Average Net 20-year savings The total amount of money saved over 20 years minus the out-of-pocket cost.
Loves Park: $8,163US Average: $15,784

Solar Potential in Loves Park

Estimated system size and solar electricity production per median viable roof in
Loves Park.

Roof size 733sq. ft.
Capacity 10.25kW DC
Electricity 11.4kkWh AC per yr.

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

The average monthly electric bill for Loves Park residents is $114.22, with an average usage of 601 kWh. Consider that this statistic includes smaller residences including apartments, known for less energy use.

For October 2024, Loves Park, IL's average electricity rate is 18.99¢ per kWh.

Average electricity users in Loves Park may require a solar power system of 5 kW or more to meet their full electricity consumption needs. At this time, a 5 kW solar installation will initially set you back around $19,250, but the federal tax credit reduces the price by 30%, making it $13,475.

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Average solar panel costs by system size in Loves Park

On the left side, you'll see a detailed price breakdown of the various sizes of solar panel systems set up in Loves Park. The investment for a larger solar panel setup is higher, but it also yields higher electricity savings and higher income tax credits.

The solar panel cost and benefit breakdown, visible in the calculator down and to the right, is based on an average electric bill of $114.22 in Loves Park. Simply replace the $114.22 with your usual electricity bill amount to see more specific results.

System Size 1kW
Roof Size Min. space required
72 ft²
Electricity Value Annual Production $281 a year
Est. Price
$2,695
Savings from a 1kWthis system
  • Est. yearly production 1,480 kWh
  • Est. monthly savings $23
  • Full payback in 2 years
Environmental Impacts
  • Reduces CO2 emissions by 0.47 tons a year
  • Equivalent to planting 22 trees a year
  • Equivalent to driving 1,172 mi less a year
System Size 2kW
Roof Size Min. space required
143 ft²
Electricity Value Annual Production $562 a year
Est. Price
$5,390
Savings from a 2kWthis system
  • Est. yearly production 2,960 kWh
  • Est. monthly savings $47
  • Full payback in 4 years
Environmental Impacts
  • Reduces CO2 emissions by 0.95 tons a year
  • Equivalent to planting 43 trees a year
  • Equivalent to driving 2,343 mi less a year
System Size 3kW
Roof Size Min. space required
215 ft²
Electricity Value Annual Production $844 a year
Est. Price
$8,085
Savings from a 3kWthis system
  • Est. yearly production 4,440 kWh
  • Est. monthly savings $70
  • Full payback in 6 years
Environmental Impacts
  • Reduces CO2 emissions by 1.42 tons a year
  • Equivalent to planting 65 trees a year
  • Equivalent to driving 3,515 mi less a year
System Size 4kW
Roof Size Min. space required
286 ft²
Electricity Value Annual Production $1,125 a year
Est. Price
$10,780
Savings from a 4kWthis system
  • Est. yearly production 5,920 kWh
  • Est. monthly savings $94
  • Full payback in 8 years
Environmental Impacts
  • Reduces CO2 emissions by 1.89 tons a year
  • Equivalent to planting 87 trees a year
  • Equivalent to driving 4,687 mi less a year
System Size 5kW
Roof Size Min. space required
358 ft²
Electricity Value Annual Production $1,406 a year
Est. Price
$13,475
Savings from a 5kWthis system
  • Est. yearly production 7,400 kWh
  • Est. monthly savings $114
  • Full payback in 10 years
Environmental Impacts
  • Reduces CO2 emissions by 2.3 tons a year
  • Equivalent to planting 106 trees a year
  • Equivalent to driving 5,700 mi less a year

Loves Park Solar Panel Installation Incentives & Rebates | 2024

Rural farmers and small business owners could have between 80% and 100% of their photovoltaic or wind turbine installation expenses covered by the REAP Grant. Unsure if you qualify? Use our REAP Grant eligibility tool to confirm.

Homeowners can benefit from a 30% federal income tax credit for setting up residential solar panels, which makes solar power a sensible option in much of the country. A multitude of state and local programs are offered to encourage the use of solar energy.

There are 7 solar rebate and incentive initiatives currently offered in Illinois by multiple utilities and government bodies.

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 Illinois?

If you intend to own your residence longer than the solar system's payback period, solar panels are a wise investment in Loves Park. With a 5 kW solar system in Loves Park, IL, the average savings over a 20 period is $13,937.8, with break even usually occurring at 10 years.

The cost of not having solar panels in Loves Park, IL

In addition to missing out on the previously mentioned savings, not installing solar panels or a different backup energy source results in complete dependence on your electric utility for electricity. As demonstrated by recent news, full reliance on your utility is not always the best option.

Yearly, customers in Loves Park face approximately 0.59 outages each year. On average, each outage lasts for 48.99 minutes. Major events like vandalism, aging infrastructure or wildfires can considerably extend these durations.

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

Power Outages

Currently, 0 customers are being tracked in Winnebago County.

Learn more

Customers Out:

0

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What impacts the cost of solar panels in Loves Park, IL?

Your Energy Needs - Even if the initial expense is greater, the price per watt decreases with larger solar panel systems. Individuals often find that installing a solar system that can replace their electric bill is highly beneficial. This approach ensures increased savings.

Make & Model - Just like other products, solar panels come in a wide variety of makes and models. Since the contractor might have particular system preferences, it's essential to select a reputable company. For consumers desiring a more favorable long-term experience, investing in higher quality equipment is important.

Solar Panel Type - The industry standard is now monocrystalline panels, and rightly so. They have a higher price, but they generate more energy. Many solar panel installers opt for this type of material.

Your Property - Each property and home has its own characteristics. Factors like trees, sloping terrain, or additional hindrances can make the installation more challenging. Most solar installers today utilize satellite imagery to assess your home and integrate these considerations into the initial cost estimate.

Labor Rates - The wages that various companies offer their employees are different, and these costs are passed on to the consumers. It is common for companies that offer higher wages to garner better reviews for their work and customer service.

Permitting & Interconnection - The cost of installation will be influenced by different local permitting and utility interconnection fees. Reliable installers will factor these costs into your first quotes to prevent unexpected expenses.

See what solar panels cost in other IL cities

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Who are the best solar installers in Loves Park?

Freedom Forever

Temecula, CA(800) 685-1850

Services

  • Installation of batteries for energy storage.
  • Expertise in consulting on advantageous financing for solar.
  • Installation of solar arrays.

Solar SME Inc.

Duncanville, TX(832) 626-2337

Services

  • Installation of batteries for energy storage.
  • Installation of solar arrays.
  • Expertise in consulting on advantageous financing for solar.

YellowLite

Cleveland, OH(877) 743-8757

Services

  • Reparation of solar arrays.
  • Expertise in consulting on advantageous financing for solar.
  • Installation of batteries for energy storage.
  • Installation of solar arrays.

Academy Energy Group

Newburgh, IN(812) 518-2150

Services

  • Auditing of energy requirements for independent energy generation.
  • Solar systems for selling electricity back to the grid.
  • Monitoring of independent energy generation.
  • Reparation of solar arrays.
  • Installation of solar arrays.

SunVest Solar

Pewaukee, WI(262) 547-1200

Services

  • Installation of solar arrays.
  • Expertise in consulting on advantageous financing for solar.

Plug PV

Albany, NY(518) 948-5316

Services

  • Expertise in consulting on advantageous financing for solar.
  • Installation of solar arrays.
  • Installation of batteries for energy storage.
  • Monitoring of independent energy generation.

SunPro Solar

Mandeville, LA(866) 599-3643

Services

  • Auditing of energy requirements for independent energy generation.
  • Installation of solar arrays.
  • Monitoring of independent energy generation.
  • Solar systems for selling electricity back to the grid.
  • Expertise in consulting on advantageous financing for solar.
  • Consulting on all things solar related.
  • Installation of batteries for energy storage.

Power Home Solar

Mooresville, NC(704) 870-3670

Services

  • Installation of batteries for energy storage.
  • Consulting on all things solar related.
  • Solar systems for selling electricity back to the grid.
  • Expertise in consulting on advantageous financing for solar.
  • Reparation of solar arrays.
  • Installation of solar arrays.

RISE Power

Richardson, TX(855) 747-3769

Services

  • Solar systems for selling electricity back to the grid.
  • Installation of solar arrays.
  • Reparation of solar arrays.
  • Installation of batteries for energy storage.
  • Monitoring of independent energy generation.
  • Consulting on all things solar related.

Dividend Finance

San Francisco, CA(415) 805-7000

Services

  • Expertise in consulting on advantageous financing for solar.
  • Installation of solar arrays.
  • Installation of batteries for energy storage.

Eagle Point Solar

Dubuque, IA(563) 582-4044

Services

  • Installation of solar arrays.
  • Reparation of solar arrays.
  • Expertise in consulting on advantageous financing for solar.

Palmetto Solar

Charleston, SC(855) 339-1831

Services

  • Installation of solar arrays.
  • Installation of batteries for energy storage.
  • Solar systems for selling electricity back to the grid.
  • Expertise in consulting on advantageous financing for solar.
  • Reparation of solar arrays.

SunPower Corporation

San Jose, CA(800) 786-7693

Services

  • Installation of solar arrays.
  • Solar systems for selling electricity back to the grid.
  • Monitoring of independent energy generation.
  • Installation of batteries for energy storage.
  • Reparation of solar arrays.
  • Consulting on all things solar related.
  • Expertise in consulting on advantageous financing for solar.

Silver Sun Solar

Deltona, FL(340) 227-7785

Services

  • Expertise in consulting on advantageous financing for solar.
  • Installation of batteries for energy storage.
  • Solar systems for selling electricity back to the grid.
  • Installation of solar arrays.

Tick Tock Energy

Effingham, IL(217) 994-9020

Services

  • Installation of solar arrays.
  • Expertise in consulting on advantageous financing for solar.
  • Installation of batteries for energy storage.

Harvest Solar

Jackson, MI(888) 907-6527

Services

  • Installation of solar arrays.
  • Expertise in consulting on advantageous financing for solar.
  • Consulting on all things solar related.

AES Solar

Carterville, IL(618) 988-0888

Services

  • Expertise in consulting on advantageous financing for solar.
  • Solar systems for selling electricity back to the grid.
  • Consulting on all things solar related.
  • Installation of batteries for energy storage.
  • Installation of solar arrays.

Sunnova Energy

Houston, TX(866) 786-6682

Services

  • Installation of batteries for energy storage.
  • Installation of solar arrays.
  • Expertise in consulting on advantageous financing for solar.

Sunrun

San Francisco, CA(833) 394-3384

Services

  • Expertise in consulting on advantageous financing for solar.
  • Monitoring of independent energy generation.
  • Installation of batteries for energy storage.
  • Installation of solar arrays.
  • Solar systems for selling electricity back to the grid.

GRNE Solar

Palatine, IL(312) 859-3417

Services

  • Installation of solar arrays.
  • Consulting on all things solar related.
  • Expertise in consulting on advantageous financing for solar.
  • Installation of batteries for energy storage.

Sigora Solar

Charlottesville, VA(434) 465-6192

Services

  • Solar systems for selling electricity back to the grid.
  • Expertise in consulting on advantageous financing for solar.
  • Installation of batteries for energy storage.
  • Installation of solar arrays.

Entegrity

Little Rock, AR(800) 700-1414

Services

  • Expertise in consulting on advantageous financing for solar.
  • Installation of solar arrays.

Ideal Energy

Fairfield, IA(800) 634-4454

Services

  • Expertise in consulting on advantageous financing for solar.
  • Reparation of solar arrays.
  • Installation of batteries for energy storage.
  • Installation of solar arrays.

Soltage

Jersey City, NJ(201) 432-1786

Services

  • Expertise in consulting on advantageous financing for solar.
  • Installation of batteries for energy storage.
  • Installation of solar arrays.

Engie North America

Houston, TX(713) 636-0000

Services

  • Expertise in consulting on advantageous financing for solar.
  • Installation of batteries for energy storage.
  • Installation of solar arrays.

City Electric Supply

Dallas, TX(866) 634-9853

Services

  • Installation of solar arrays.
  • Expertise in consulting on advantageous financing for solar.
  • Consulting on all things solar related.

LightEdison

Denver, CO(888) 966-6377

Services

  • Reparation of solar arrays.
  • Installation of batteries for energy storage.
  • Expertise in consulting on advantageous financing for solar.
  • Installation of solar arrays.

PowerHome Solar

Mooresville, NC(704) 870-3670

Services

  • Installation of solar arrays.
  • Expertise in consulting on advantageous financing for solar.
  • Installation of batteries for energy storage.
  • Solar systems for selling electricity back to the grid.

Empire Solar Group

Salt Lake City, UT(800) 467-4562

Services

  • Installation of solar arrays.
  • Solar systems for selling electricity back to the grid.
  • Installation of batteries for energy storage.

Badass Energy

Claremont, CA(909) 320-9860

Services

  • Installation of solar arrays.
  • Consulting on all things solar related.
  • Installation of batteries for energy storage.

Loves Park, IL Solar Panel Cost FAQs

  • The average solar panel cost in Loves Park, IL as of October, 2024 is estimated at $3.85/W. With the federal tax credit, the cost of a 5 kW solar panel system in Loves Park, IL drops to roughly $13,475.

  • If you live in Illinois, you can find 7 rebates and incentives through different utilities and government agencies. Moreover, nearly everyone is eligible for the 30% federal income tax credit.

  • Paying cash will ensure the most savings, but currently there are several options for financing solar panels that are cost-effective as well. Installers often have partnerships with financing companies and will detail this information in your initial quotes.

  • Yes, on average, 5 kW solar panels in Loves Park, IL pay for themselves in 10 years, with homeowners saving approximately $13,937.8 on electricity over 20 years.
Matt Hope
Last Reviewed By: Matt Hope
Published: 2024-10-01