Solar Panels Cost $2.7k-$13k in Mundelein, IL | October, 2024

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

The typical monthly kWh usage for a Mundelein resident is 601, with an average monthly bill of $114.22. Be mindful that this data set includes apartments and other smaller residences with usually reduced energy requirements.

The electricity rate per kWh in Mundelein, IL for October 2024 is 18.99¢.

An average energy consumer in Mundelein needs a solar system of a minimum of 5 kW to account for their full electricity usage demands. The expected cost is around $19,600for a 5 kW solar system upfront, but the federal tax credit gives you 30% back, lowering the cost to $13,720.

Are solar panels worth it in Illinois?

If you're planning to stay in your home past the period required to pay back your solar investment, installing solar panels is a wise decision in Mundelein. A 5 kW system in Mundelein, IL will save you personally, on average, $13,692.8 over a 20 period and the average break even point is 10 years.

The cost of not having solar panels in Mundelein, IL

Besides missing out on the previously mentioned savings, not having solar panels or a separate backup energy source makes you fully reliant on your electric utility for electricity. Relying entirely on your utility isn't always ideal, as several recent news reports have highlighted.

Each year, the utilities in Mundelein have averaged about 0.59 outages per customer. On average, the length of an outage is 48.99 minutes. Major events like thunderstorms, equipment failure, or vandalism can cause these durations to rise considerably.

A solar energy system, whether or not it has a backup battery, could help reduce the effects of any future power interruptions you might face.

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

Your Energy Needs - Even though larger solar panel systems are more expensive initially, the average price per watt reduces as the system size increases. Consumers often find that installing a solar system that can offset their electric bill is extremely useful. This method leads to maximum savings.

Make & Model - There are a wide variety of makes and models of solar panels and mounting equipment. Your installer’s system preferences might necessitate picking a reputable company. Buyers frequently find that using better quality models provides a more positive long-term experience.

Solar Panel Type - For numerous good reasons, monocrystalline panels are now the standard in the industry. Although they are more expensive, they deliver increased energy. The majority of installers use panels made from this material.

Your Property - No two properties or homes are identical. Trees, uneven ground, or other obstructions can increase the difficulty of the installation. Solar installers currently commonly leverage satellite imagery to evaluate your home and incorporate these considerations into the initial cost estimate.

Labor Rates - Variations in employee wages across companies cause expenses that are transferred to the consumers. Higher wages often lead to companies getting better reviews for their services and customer service.

Permitting & Interconnection - Your final installation cost will be impacted by local permitting and utility interconnection fees, which vary by area. Reliable local installers will incorporate these figures into your initial estimates to prevent any surprises.