Solar Panels Cost 10k-21k in Mount Carmel, IL | October, 2024

Solar Panels Cost $10k-$21k in Mount Carmel, IL | October, 2024

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How much do solar panels cost in Mount Carmel, IL in 2024?

In Mount Carmel, IL in October, 2024, the current price per watt for solar panel installations is estimated at $3.77/W

In accordance with this rate, expect to pony up $3,770, on average, for every 1000 watts (or 1 kW) of solar energy your solar system can produce. In Mount Carmel, you can expect to spend approximately $13,195 for a 5 kW solar installation once the 30% federal income tax credit is factored in. It should be noted that a larger system could be necessary to adequately cover your energy requirements.

Choose your county from the menu on the left to find out the typical roof size and maximum solar panel capacity for homes in your area. Shown below is a breakdown of the price, payback period, and 20-year average savings for a 5 kW system in your county.

Average out-of-pocket cost for a 5 kW system The upfront amount spent to buy and install solar.
Mount Carmel: $13,195US Average: $12,562
Average Payback Period The number of years until you break even on the solar investment.
Mount Carmel: 7 yearsUS Average: 7 years
Average Net 20-year savings The total amount of money saved over 20 years minus the out-of-pocket cost.
Mount Carmel: $20,601US Average: $15,784

Solar Potential in Mount Carmel

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

Roof size 679sq. ft.
Capacity 9.5kW DC
Electricity 11kkWh AC per yr.

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

In Mount Carmel, energy consumers usually see an average electric bill of $164.38 each month, with an average consumption of 872 kWh. Flats and other smaller residences with reduced energy requirements are included in this data.

The average rate for electricity in Mount Carmel, IL during October, 2024 is 18.84¢ per kWh.

Typical citizens in Mount Carmel may need a solar panel system of 8 kW or larger to cover their entire electricity consumption requirements. Before any incentives, an 8 kWsolar system is priced at approximately $30,160, after the 30% federal tax credit, the final cost is $21,112.

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Average solar panel costs by system size in Mount Carmel

Shown on the left and below is the cost analysis for multiple sizes of solar panel systems installed in Mount Carmel. The initial cost for more extensive solar systems is higher, but they also provide more significant electricity savings and larger income tax credits.

The solar panel cost calculator below and to the right details costs and benefits, using an average $164.38 electric bill in Mount Carmel For results that are more specific to you, modify the $164.38 to reflect your typical electricity bill.

System Size 4kW
Roof Size Min. space required
286 ft²
Electricity Value Annual Production $1,125 a year
Est. Price
$10,556
Savings from a 4kWthis system
  • Est. yearly production 5,920 kWh
  • Est. monthly savings $94
  • Full payback in 5 years
Environmental Impacts
  • Reduces CO2 emissions by 1.32 tons a year
  • Equivalent to planting 60 trees a year
  • Equivalent to driving 3,258 mi less a year
System Size 5kW
Roof Size Min. space required
358 ft²
Electricity Value Annual Production $1,406 a year
Est. Price
$13,195
Savings from a 5kWthis system
  • Est. yearly production 7,400 kWh
  • Est. monthly savings $117
  • Full payback in 7 years
Environmental Impacts
  • Reduces CO2 emissions by 1.65 tons a year
  • Equivalent to planting 76 trees a year
  • Equivalent to driving 4,072 mi less a year
System Size 6kW
Roof Size Min. space required
429 ft²
Electricity Value Annual Production $1,687 a year
Est. Price
$15,834
Savings from a 6kWthis system
  • Est. yearly production 8,880 kWh
  • Est. monthly savings $141
  • Full payback in 8 years
Environmental Impacts
  • Reduces CO2 emissions by 1.97 tons a year
  • Equivalent to planting 91 trees a year
  • Equivalent to driving 4,887 mi less a year
System Size 7kW
Roof Size Min. space required
501 ft²
Electricity Value Annual Production $1,968 a year
Est. Price
$18,473
Savings from a 7kWthis system
  • Est. yearly production 10,360 kWh
  • Est. monthly savings $164
  • Full payback in 9 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
System Size 8kW
Roof Size Min. space required
572 ft²
Electricity Value Annual Production $2,250 a year
Est. Price
$21,112
Savings from a 8kWthis system
  • Est. yearly production 11,840 kWh
  • Est. monthly savings $164
  • Full payback in 11 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

Mount Carmel Solar Panel Installation Incentives & Rebates | 2024

If you own a plot or small business in a rural area, the REAP Grant might cover between 80% and 100% of your photovoltaic or wind turbine installation costs. Wondering about your eligibility? Use our REAP Grant eligibility tool to check.

Adding residential solar panels comes with a 30% federal tax credit, available to most homeowners, making it a good option for many areas throughout the United States. Apart from the federal incentives, state and local programs also work to boost solar energy uptake.

A total of 7 solar incentive and rebate initiatives are available in Illinois from multiple utilities and government bodies.

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 Mount Carmel looking to stay in their homes past the payback period of their solar system, solar panels make excellent sense. With a 5 kW solar system in Mount Carmel, IL, the average savings over a 20 period is $26,256.2, with break even generally occurring at 7 years.

The cost of not having solar panels in Mount Carmel, IL

Besides missing out on the savings outlined above, not installing solar panels or an alternative backup energy source results in total reliance on your electric utility for electricity. Recent news examples have indicated that complete dependence on your utility provider isn't always ideal.

Every year, customers in Mount Carmel face approximately 0.66 outages each year. Outages typically last for an average of 60.35 minutes. Major occurrences like hurricanes, wildlife damage, or grid management errors can lead to a significant rise in these time frames.

Whether it comes with a backup battery or not, a solar panel system could reduce the strain of any future power interruptions you may encounter.

Power Outages

Currently, 0 customers are being tracked in Wabash County.

Learn more

Customers Out:

0

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What impacts the cost of solar panels in Mount Carmel, IL?

Your Energy Needs - Larger solar panel systems require more upfront investment, but the cost per watt declines as the size of the system grows. Installing a solar system that makes sufficient electricity to eliminate their electric bill is beneficial to most individuals, ensuring savings.

Make & Model - Solar panels and mounting equipment, like many other products, are offered in a variety of makes and models. The brand preferences of your selected installer can make it crucial to choose a highly rated company. The selection of better equipment can greatly better the long-term experience for buyers.

Solar Panel Type - Monocrystalline panels have become the industry standard, and it's easy to see why. Even with a higher cost, this technology generate more energy. Most installers opt for panels crafted using this material.

Your Property - Each property and home has its own characteristics. Factors such as uneven land, trees, or other obstacles can make the installation more challenging. These days, solar installers can utilize satellite images to evaluate your home and include these considerations into the preliminary cost estimate.

Labor Rates - Companies remunerate their employees in varying amounts, and these costs are transferred to consumers. It is frequently observed that businesses with higher wages receive superior reviews for their work and customer service.

Permitting & Interconnection - The cost of installation will be influenced by changing local permitting and utility interconnection fees. That said, quality local installers will be able to build these numbers into your initial quotes so there are no surprises.

See what solar panels cost in other IL cities

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Who are the best solar installers in Mount Carmel?

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.

Mount Carmel, IL Solar Panel Cost FAQs

  • During October, 2024, the average price for solar panel installations in Mount Carmel, IL is $3.77/W. The installation of a 5 kW solar panel system in Mount Carmel, IL will cost about $13,195 after federal tax credits.
  • At present, there are 7 rebates and incentives available to Illinois residents from various utility and government programs. Additionally, the vast majority qualify for the 30% federal tax credit.
  • Opting for cash payments results in the highest savings, but there are now multiple financing options for solar panels that are beneficial. Your initial quotes will often contain information about financing options provided by installers.
  • Yes, the average 5 kW solar panel payback time in Mount Carmel, IL is 7 years, with expected savings of $26,256.2 on electricity over 20 years.
King Manalo
Last Reviewed By: King Manalo
Published: 2024-10-01