Solar Panels Cost $5.7k-$17k in Milan, IL | October, 2024

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

The monthly electricity usage for a typical Milan household is 716 kWh, with a standard bill of $74.64. These figures include apartments and smaller residences with typically reduced energy demand.

In October 2024, Milan, IL's average electricity rate amounts to 10.43¢ per kWh.

For the typical energy consumer in Milan, a system size of 6 kW or more is necessary to satisfy their entire power usage requirements. After incentives, a 6 kW solar system will cost around $17,220.

Are solar panels worth it in Illinois?

If you expect to live in your home beyond the time it takes to recoup your solar investment, adding solar panels in Milan is an excellent decision. Installing a 5 kW solar system in Milan, IL will, on average, save you $3,563.6 over 20 years, and you can expect to break even in about 16 years.

The cost of not having solar panels in Milan, IL

Forgoing solar panels or an alternative backup energy source results in you'll miss out on the savings highlighted above and be fully dependent on your electric utility for power. Recent news stories have shown that complete dependence on your utility is not always ideal.

The average number of outages per customer per year for utilities in Milan has been 0.93 recently. The average duration of each outage is 95.6 minutes. During severe events like aging infrastructure, thunderstorms or planned maintenance, these times can grow significantly longer.

A solar panel system, with or without a backup battery, could help mitigate the effects of future outages you might experience.

What impacts the cost of solar panels in Milan, 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. Individuals often find that installing a solar system that can replace their electric bill is highly beneficial. This strategy results in greater savings.

Make & Model - Similar to other industries, the solar energy sector features a range of solar panel and mounting equipment brands and designs. Considering the particular system preferences an contractor might have, selecting a highly rated company is critical. Superior quality makes and models generally lead to a more positive long-term experience for buyers.

Solar Panel Type - There are valid reasons why monocrystalline panels are now the industry standard. Although the cost is higher, they yield more energy. Many installers use these kinds of panels.

Your Property - No two homes or properties are the same. Elements such as trees, irregular terrain, or other challenges might complicate the installation process. Most solar installers today leverage satellite imagery to evaluate your home and include these factors into the initial cost estimate.

Labor Rates - The varied employee wages paid by companies cause costs that consumers eventually bearing . It is frequently observed that businesses with higher wages receive superior reviews for their services and customer service.

Permitting & Interconnection - Your final installation cost will be influenced by local permitting and utility interconnection fees, which change by area. Good installers will factor these costs into your first quotes to prevent unexpected expenses.