Solar Panels Cost 7.7k-17k in Pana, IL | November, 2024

Solar Panels Cost $7.7k-$17k in Pana, IL | November, 2024

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

The current cost per watt of solar panel systems in Pana, IL in November, 2024 is $3.67/W.

In accordance with this cost per watt, solar panel installations will cost you about $3,670 per 1K (or 1000 watts) of production capacity. After applying the 30% federal tax credit, a 5 kW system in Pana generally costs $12,845. Be aware that a higher capacity system could be needed to adequately cover your energy consumption.

To your left, you have the option to select your county and access information on the typical roof size along with the average maximum capacity for solar panel installations on homes in your area. Below, you can see a complete analysis 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.
Pana: $12,845US Average: $12,523
Average Payback Period The number of years until you break even on the solar investment.
Pana: 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.
Pana: $19,966US Average: $16,169

Solar Potential in Pana

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

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

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

On average, Pana residents pay $159.65 for their electric bill each month and consume 775 kWh. Flats and small homes with lower energy consumption are covered in this number.

In November 2024, the average electricity rate in Pana, IL amounts to 20.6¢ per kWh.

If you’re a typical energy consumer in Pana, you will need a solar power system sized at 7 kW or more to meet all your electricity needs. Presently, a 7 kW solar panel system costs $17,983 when including the 30% federal income tax credit.

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Average solar panel costs by system size in Pana

To the left, we present a detailed pricing details for multiple solar panel system sizes set up in Pana. More extensive solar installations carry a greater cost, yet they also offer higher electricity savings and larger income tax credits.

In the solar panel cost calculator found down and to the right, you can view a cost and benefit breakdown to match an average $159.65electric bill in Pana. For a more detailed estimate, replace the $159.65 with your typical electricity bill amount.

System Size 3kW
Roof Size Min. space required
215 ft²
Electricity Value Annual Production $932 a year
Est. Price
$7,707
Savings from a 3kWthis system
  • Est. yearly production 4,440 kWh
  • Est. monthly savings $78
  • Full payback in 4 years
Environmental Impacts
  • Reduces CO2 emissions by 1.13 tons a year
  • Equivalent to planting 52 trees a year
  • Equivalent to driving 2,792 mi less a year
System Size 4kW
Roof Size Min. space required
286 ft²
Electricity Value Annual Production $1,243 a year
Est. Price
$10,276
Savings from a 4kWthis system
  • Est. yearly production 5,920 kWh
  • Est. monthly savings $104
  • Full payback in 5 years
Environmental Impacts
  • Reduces CO2 emissions by 1.5 tons a year
  • Equivalent to planting 69 trees a year
  • Equivalent to driving 3,722 mi less a year
System Size 5kW
Roof Size Min. space required
358 ft²
Electricity Value Annual Production $1,554 a year
Est. Price
$12,845
Savings from a 5kWthis system
  • Est. yearly production 7,400 kWh
  • Est. monthly savings $129
  • Full payback in 7 years
Environmental Impacts
  • Reduces CO2 emissions by 1.88 tons a year
  • Equivalent to planting 86 trees a year
  • Equivalent to driving 4,653 mi less a year
System Size 6kW
Roof Size Min. space required
429 ft²
Electricity Value Annual Production $1,865 a year
Est. Price
$15,414
Savings from a 6kWthis system
  • Est. yearly production 8,880 kWh
  • Est. monthly savings $155
  • Full payback in 8 years
Environmental Impacts
  • Reduces CO2 emissions by 2.26 tons a year
  • Equivalent to planting 104 trees a year
  • Equivalent to driving 5,584 mi less a year
System Size 7kW
Roof Size Min. space required
501 ft²
Electricity Value Annual Production $2,176 a year
Est. Price
$17,983
Savings from a 7kWthis system
  • Est. yearly production 10,360 kWh
  • Est. monthly savings $160
  • Full payback in 9 years
Environmental Impacts
  • Reduces CO2 emissions by 2.32 tons a year
  • Equivalent to planting 107 trees a year
  • Equivalent to driving 5,749 mi less a year

Pana Solar Panel Installation Incentives & Rebates | 2024

For rural small businesses and agricultural properties, the REAP Grant could provide funding that covers between 80% and 100% of the necessary expenses for installing renewable energy systems. Believe you might be eligible? Use our REAP Grant eligibility tool to confirm your eligibility.

The 30% federal income tax credit for residential solar is accessible to almost all homeowners, making solar energy a good choice in numerous regions across the country. State and local governments have various programs to promote the switch to solar energy.

A total of 7 solar rebates and incentives are available in Illinois through multiple utility companies and government organizations.

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 homeowners in Pana who expect to stay in their residence beyond the solar payback period, solar panels make an good investment. A 5 kW solar system in Pana, IL could potentially save you $25,471 over the course of 20 years, with the break even point averaging at 7 years.

The cost of not having solar panels in Pana, IL

The absence of solar panels or an alternative energy backup means that you forgo the savings noted earlier and depend on your electric utility for electricity. Many recent news articles have revealed that complete dependence on your utility isn't always the best option.

Customers in Pana have faced around 0.72 outages per year on average. Typically, outages have an average duration of 90.48 minutes. However, during significant events such as landslides, grid management errors, or wildlife damage, these times can drastically increase.

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

Power Outages

Currently, 0 customers are being tracked in Christian County.

Learn more

Customers Out:

0

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

Your Energy Needs - Larger solar panel systems have a higher upfront cost, but the cost per watt diminishes. Most consumers see the usefulness in setting up a solar setup that can generate enough power to cover their entire electric bill, leading to significant savings.

Make & Model - Solar panels and mounting equipment, like many other products, are available in different makes and models. The installer you choose may have specific brand preferences, so it's crucial to choose a reputable installer. To ensure a better long-term experience, buyers should consider higher quality models.

Solar Panel Type - The industry standard is now monocrystalline panels, and rightly so. Even with a higher cost, this technology produce more energy. The majority of installers opt for panels crafted using this material.

Your Property - Uneven land, trees, or additional hindrances can make the installation process more challenging. Nowadays, many solar installers can leverage satellite imagery to assess your home and include these aspects into the initial cost estimate.

Labor Rates - The different wages that companies offer their employees result in costs that are ultimately passed on to consumers. Higher wages often lead to companies getting better reviews for their services and customer service.

Permitting & Interconnection - Local permitting and utility interconnection fees, which change by area, will influence your installation cost. Reputable local installers will include these figures in your initial estimates to provide transparency.

See what solar panels cost in other IL cities

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Who are the best solar installers in Pana?

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.

Pana, IL Solar Panel Cost FAQs

  • As of November, 2024, the average solar panel installation cost in Pana, IL has reached $3.67/W. After federal tax credits, the installation of a 5 kW solar panel system in Pana, IL is estimated to cost $12,845.
  • At present, there are 7 rebates and incentives available to Illinois residents from various utility and government programs. In addition, nearly all people are eligible for the 30%federal tax credit.
  • Paying cash will lead to the most savings, but these days there are several options for financing solar panels that make great money sense as well. Your initial quotes will often contain information about financing options provided by installers.
  • Yes, the average time to recoup the cost of 5 kW solar panels in Pana, IL is 7 years, with homeowners saving an average of $25,471 on electricity over 20 years.
Matt Hope
Last Reviewed By: Matt Hope
Published: 2024-11-01