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

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

Energy consumers in Machesney Park usually pay $114.22 per month for electricity, consuming an typical of 601 kWh. Compact dwellings, such as condos and apartments, are also encompassed in the figures noted in the previous sentence.

The rate of electricity in Machesney Park, IL, on average, is 18.99¢ per kWh in October 2024.

If you’re an average energy user in Machesney Park you need a 5 kW or higher sized system to cover your full electricity demands. The price of aa 5 kW solar installation is approximately $19,200 initially, but with a 30% tax credit, the total cost drops to $13,440.

Are solar panels worth it in Illinois?

If your intention is to stay in your home beyond the solar payback period, choosing solar panels is a good option in Machesney Park. A 5 kW solar system in Machesney Park, IL could potentially save you $13,972.8 over the course of 20 years, with the break even point typically at 10 years.

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

Beyond forgoing the savings highlighted above, the absence of solar panels or another backup energy solution leads to total dependency on your electric utility for power. Many recent news reports have highlighted that relying entirely on your utility isn't always ideal.

Lately, the average number of utility outages per customer annually in Machesney Park has been about 0.59. On average, an outage lasts 48.99 minutes. Major events such as earthquakes, aging infrastructure, or planned maintenance can significantly extend these time frames.

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

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

Your Energy Needs - Larger solar panel setups come with a greater price tag, yet the cost per watt reduces as the size of the system expands. A lot of people find it useful to set up a solar energy system that can offset their entire electric bill. This ensures optimal savings.

Make & Model - Solar panels are offered in a range of makes and models. The installer you select may have certain system preferences, so it's important to select a reputable installer. For buyers desiring a superior long-term experience, choosing better quality makes and models is important.

Solar Panel Type - For good reasons, monocrystalline panels have become the standard in the industry. These panels are more expensive but generate more energy. The majority of installers in the industry use panels made of this material.

Your Property - Each property and home is one of a kind. Trees, uneven ground, or additional hindrances can increase the difficulty of installing solar panels. Using satellite images, solar installers currently can assess your home and include these elements into the preliminary cost estimate.

Labor Rates - Various wages are paid to employees by various companies, and these expenses are passed on to the consumers. It is frequently observed that companies with higher wages get superior reviews for their services and customer service.

Permitting & Interconnection - Your installation cost will be impacted by area-specific permitting and utility interconnection fees. That said, experienced local installers will be able to integrate these numbers into your preliminary quotes so there are no surprises.