Solar Panels Cost 5.1k-15k in Monee, IL | November, 2024

Solar Panels Cost $5.1k-$15k in Monee, IL | November, 2024

High Power Bills?

Reduce or replace your electricity bill with solar

How much do solar panels cost in Monee, IL in 2024?

To have a solar system averages out to $3.7 per watt in Monee, IL in the month of November, 2024.

According to this price per watt, we can come to the conclusion that for every 1 kW (1000 watts) your solar system can produce, you will need to invest $3,700 for its installation. When you deduct the 30% federal tax credit, you will pay about $12,950 for a 5 kW solar panel install in Monee. It's important to note that a more extensive system could be needed to meet your energy requirements.

To the left,select your area to see the typical roof size and the average maximum capacity of solar panels for homes in your county. Below is a summary of the costs, 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.
Monee: $12,950US Average: $12,523
Average Payback Period The number of years until you break even on the solar investment.
Monee: 8 yearsUS Average: 7 years
Average Net 20-year savings The total amount of money saved over 20 years minus the out-of-pocket cost.
Monee: $13,838US Average: $16,169

Solar Potential in Monee

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

Roof size 715sq. ft.
Capacity 10kW DC
Electricity 11.5kkWh AC per yr.

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

For Monee energy consumers, the typical electric bill is $134.74 per month, with a usage of 641 kWh. These figures incorporate apartments and other smaller residences with lower energy consumption.

In November 2024, Monee, IL's mean electricity rate amounts to 21.03¢ per kWh.

If you’re an average electricity consumer in Monee you must have a 6 kW or more sized system to cover your entire electricity usage needs. Upfront, a 6 kW solar installation is around $22,200, with the federal tax credit returning 30% of your investment amount, lowering the cost to $15,540.

Go Solar for less than your cell phone bill.

Average solar panel costs by system size in Monee

To your left, we have provided a full pricing details for the multiple solar panel system sizes installed in Monee. Naturally, with a larger solar system, there will be a larger initial investment, but the advantages consist of greater energy savings and greater income tax credits.

View a cost benefit analysis in the solar panel cost calculator below and to the right, for an average electric bill of $134.74 in Monee. Adjust the $134.74 to your average electricity bill payment for customized results.

System Size 2kW
Roof Size Min. space required
143 ft²
Electricity Value Annual Production $622 a year
Est. Price
$5,180
Savings from a 2kWthis system
  • Est. yearly production 2,960 kWh
  • Est. monthly savings $52
  • Full payback in 3 years
Environmental Impacts
  • Reduces CO2 emissions by 0.89 tons a year
  • Equivalent to planting 41 trees a year
  • Equivalent to driving 2,191 mi less a year
System Size 3kW
Roof Size Min. space required
215 ft²
Electricity Value Annual Production $932 a year
Est. Price
$7,770
Savings from a 3kWthis system
  • Est. yearly production 4,440 kWh
  • Est. monthly savings $78
  • Full payback in 5 years
Environmental Impacts
  • Reduces CO2 emissions by 1.33 tons a year
  • Equivalent to planting 61 trees a year
  • Equivalent to driving 3,287 mi less a year
System Size 4kW
Roof Size Min. space required
286 ft²
Electricity Value Annual Production $1,243 a year
Est. Price
$10,360
Savings from a 4kWthis system
  • Est. yearly production 5,920 kWh
  • Est. monthly savings $104
  • Full payback in 6 years
Environmental Impacts
  • Reduces CO2 emissions by 1.77 tons a year
  • Equivalent to planting 81 trees a year
  • Equivalent to driving 4,382 mi less a year
System Size 5kW
Roof Size Min. space required
358 ft²
Electricity Value Annual Production $1,554 a year
Est. Price
$12,950
Savings from a 5kWthis system
  • Est. yearly production 7,400 kWh
  • Est. monthly savings $129
  • Full payback in 8 years
Environmental Impacts
  • Reduces CO2 emissions by 2.21 tons a year
  • Equivalent to planting 102 trees a year
  • Equivalent to driving 5,478 mi less a year
System Size 6kW
Roof Size Min. space required
429 ft²
Electricity Value Annual Production $1,865 a year
Est. Price
$15,540
Savings from a 6kWthis system
  • Est. yearly production 8,880 kWh
  • Est. monthly savings $135
  • Full payback in 10 years
Environmental Impacts
  • Reduces CO2 emissions by 2.31 tons a year
  • Equivalent to planting 106 trees a year
  • Equivalent to driving 5,711 mi less a year

Monee 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. If you believe you might qualify, we suggest utilizing our REAP Grant eligibility tool to verify.

The federal government offers a 30% tax credit for residential solar systems, which makes solar appealing and feasible for a variety of homeowners. A variety of state and local incentives are available to support the use of solar energy.

Different utilities and government entities in Illinois provide 7 solar rebate and incentive initiatives.

Solar incentives in IL

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?

For those in Monee intending to stay in their homes past the payback period of their solar system, solar panels make good sense. A 5 kW solar system in Monee, IL could potentially save you $19,387.6 over the course of 20 years, with the break even point typically at 8 years.

The cost of not having solar panels in Monee, IL

Without solar panels or another backup power source, you miss out on the savings highlighted previously and are entirely on your electric utility for electricity. Full reliance on your utility provider is not always ideal, as recent examples in the news have highlighted.

Each year, utility customers in Monee have encountered an average of 0.54 outages per year. Usually, outages have an average duration of 44.56 minutes. However, during critical events like equipment failure, earthquakes or construction accidents, these times can extend dramatically.

Whether or not it includes a backup battery, a solar panel system could mitigate the effects of future power interruptions you might experience.

Power Outages

Currently, 0 customers are being tracked in Will County.

Learn more

Customers Out:

0

Go Solar for less than your cell phone bill.

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

Your Energy Needs - Investing in larger solar panel systems costs more upfront, but the price per watt is lowered as the system size increases. It is often beneficial for individuals to set up a solar system that can make enough electricity to fully cover their electric bill, which results in substantial savings.

Make & Model - Similar to other products, solar panels and mounting equipment are offered in a wide variety of makes and models. The installer’s preference for system makes it essential to choose a reputable installer. Investing in superior quality makes and models can result in a much better long-term experience for the buyer.

Solar Panel Type - For valid reasons, monocrystalline panels have emerged as the standard in the industry. Although the cost is more, they yield more energy. The majority of installers use these types of panels.

Your Property - Each property and residence is unique. Issues like trees, uneven landscapes, or other impediments may add to the complexity of the installation. Using satellite images, solar installers these days can assess your home and factor in these considerations into the preliminary cost estimate.

Labor Rates - Differences in employee wages across companies lead to expenses that are borne by the consumers. Companies that invest in higher wages usually see higher reviews for their services and customer service.

Permitting & Interconnection - Your installation cost will be affected by area-specific permitting and utility interconnection fees. Good local installers will incorporate these figures into your first estimates to avoid any surprises.

See what solar panels cost in other IL cities

Go Solar for less than your cell phone bill.

Who are the best solar installers in Monee?

Freedom Forever

Temecula, CA(800) 685-1850

Services

  • Installation of solar arrays.
  • 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.

Solar SME

Duncanville, TX(832) 626-2337

Services

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

YellowLite

Cleveland, OH(216) 333-1364

Services

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

Academy Energy Group

Newburgh, IN(812) 518-2150

Services

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

SunVest Solar

Pewaukee, WI(262) 547-1200

Services

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

Core Development Group

(201) 825-2195

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.
  • Consulting on all things solar related.

Plug PV

Troy, NY(518) 948-5316

Services

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

SunPro Solar

Mandeville, LA(866) 599-3643

Services

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

Power Home Solar

Mooresville, NC(704) 870-3670

Services

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

RISE Power

Richardson, TX(855) 747-3769

Services

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

Dividend Finance

Cincinnati, OH(415) 805-7000

Services

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

Eagle Point Solar

Dubuque, IA(563) 582-4044

Services

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

Palmetto Solar

Charleston, SC(855) 339-1831

Services

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

SunPower Corporation

San Jose, CA(800) 786-7693

Services

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

Silver Sun Solar

Deltona, FL(407) 832-42452

Services

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

Continental Energy Solutions

Oak Brook, IL(630) 637-2150

Services

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

Tick Tock Energy

Effingham, IL(217) 994-9020

Services

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

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

Sunnova Energy

Houston, TX(866) 786-6682

Services

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

Sunrun

San Francisco, CA(833) 394-3384

Services

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

GRNE Solar

Palatine, IL(312) 859-3417

Services

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

Sigora Solar

Charlottesville, VA(434) 465-6192

Services

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

Entegrity

Little Rock, AR(800) 700-1414

Services

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

Ideal Energy

Fairfield, IA(800) 634-4454

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.
  • Reparation 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 solar arrays.
  • Installation of batteries for energy storage.

City Electric Supply

Dallas, TX(866) 634-9853

Services

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

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

Empire Solar Group

Salt Lake City, UT(800) 467-4562

Services

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

Badass Energy

Claremont, CA(909) 320-9860

Services

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

Monee, IL Solar Panel Cost FAQs

  • As of November, 2024, the typical cost for solar panels in Monee, IL is $3.7/W. After federal tax credits, the installation of a 5 kW solar panel system in Monee, IL is estimated to cost $12,950.
  • If you live in Illinois, you can find 7 rebates and incentives through different utilities and government agencies. Moreover, the 30% federal tax credit is accessible to nearly everyone.
  • Cash payments yield the highest savings, yet several financing options now available for solar panels are financially beneficial as well. Financing options are frequently available through installers and will be detailed in your initial quotes.
  • Yes, on average, 5 kW solar panels in Monee, IL pay for themselves in 8 years, with homeowners saving approximately $19,387.6 on electricity over 20 years.
Alex Zdanov
Last Reviewed By: Alex Zdanov
Published: 2024-11-01