Solar Panels Cost $5.0k-$15k in Rantoul, IL | October, 2024

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

Rantoul energy consumers typically use 697 kWh monthly, with an average monthly bill of $129.48. Flats and other smaller housing units with reduced energy requirements are included in this statistic.

The average electricity rate in Rantoul, IL in October 2024 is 18.57¢ per kWh.

In Rantoul, a system size of 6 kW or higher is a must for the typical energy user to cover their entire electricity consumption needs. Currently, a 6 kW setup is priced at around $15,036 after incentives.

Are solar panels worth it in Illinois?

For those in Rantoul looking to stay in their homes past the payback period of their solar system, solar panels make perfect sense. With a 5 kW solar system in Rantoul, IL, the average savings over a 20 period is $18,545.2, with break even usually occurring at 8 years.

The cost of not having solar panels in Rantoul, IL

Beyond forgoing the savings, the absence of solar panels or another backup energy source results in full dependence on your electric utility for your power needs. As shown by recent news stories, complete dependence on your utility company isn't always ideal.

On average, customers in Rantoul have faced 0.97 utility outages per year over the past few years. Typically, outages have an average duration of 110.6 minutes. However, during significant events such as thunderstorms, vandalism, or aging infrastructure, these times can drastically increase.

Whether or not a backup battery is present, a solar panel system could help ease the impact of future power outages you might experience.

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

Your Energy Needs - The upfront cost for larger solar panel systems is higher, but the cost per watt decreases as the system size grows. Setting up a solar system that makes sufficient electricity to eliminate their electric bill is beneficial to most individuals, ensuring savings.

Make & Model - There are a variety of makes and models of solar panels. The potential system preferences of your installer mean that it is it's even more necessary to choose a reputable contractor. For a more favorable long-term experience, buyers should opt for superior quality equipment.

Solar Panel Type - The industry standard is now monocrystalline panels, and rightly so. They have a higher price, but they produce more energy. Most solar panel installers choose this type of material.

Your Property - Each property and home is one of a kind. Uneven ground, trees, or other hindrances can increase the difficulty of installing solar panels. These days, most solar installers are able to utilize satellite images to evaluate your home and include these factors for the initial cost estimate.

Labor Rates - The wages that companies pay their employees differ, and these costs are inevitably reflected in consumer prices. Higher reviews for work and customer service are generally associated with businesses that pay higher wages.

Permitting & Interconnection - Local permitting and utility interconnection fees, which vary by region, will impact your final installation cost. Reputable local installers will include these figures in your initial estimates to ensure transparency.