Solar Panels Cost $2.5k-$12k in River Grove, IL | October, 2024

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

River Grove energy consumers generally use 601 kWh monthly, with an average monthly bill of $114.22. Keep in mind that this figure covers both apartments and smaller homes, which typically require reduced energy.

The mean rate for electricity in River Grove, IL during October, 2024 is 18.99¢ per kWh.

Typical electricity users in River Grove will need a solar system of 5 kW or higher to cover their entire electricity usage requirements. The expected cost is around $18,300for a 5 kW setup before incentives, but the federal tax credit gives you 30% back, lowering the cost to $12,810.

Are solar panels worth it in Illinois?

If you expect to live in your home beyond the payback period of your solar system, solar panels are an excellent choice in River Grove. If you install a 5 kW solar system in River Grove, IL, you might save $14,602.8 over 20 years on average, with a break even point at roughly 9 years.

The cost of not having solar panels in River Grove, 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. Recent news has proven that total reliance on your utility company is not always ideal.

In recent times, the average number of utility outages per customer annually in River Grove has been about 0.59. On average, the length of an outage is 48.99 minutes. Major events like overloaded power grids, wildfires or construction accidents can cause these durations to rise considerably.

With or without a backup battery, a solar panel system could help to mitigate the effects of future power interruptions you might face.

What impacts the cost of solar panels in River Grove, IL?

Your Energy Needs - Despite the larger initial expense, the cost per watt drops when using larger solar panel systems. Many individuals find it advantageous to set up a system that can generate enough electricity to replace the entirety of their electric bill. This math makes the most sense for optimal savings.

Make & Model - Similar to other industries, the solar energy sector features a wide range of solar panel brands and designs. Because the installer might have certain system preferences, it's important to select a reputable installer. The utilization of better equipment is probably will provide a more positive long-term experience for buyers.

Solar Panel Type - The standard in the industry is now monocrystalline panels, and for good reason. They have a higher price, but they produce more energy. Many solar panel installers opt for this kind of material.

Your Property - Each property and home has its own unique features. Sloped land, trees, or other barriers may add to the difficulty of the installation. Most solar installers today are able to leverage satellite imagery to assess your home and include these elements in the preliminary cost estimate.

Labor Rates - Companies offer different pay rates to their employees, which are then shown in the prices consumers pay. Higher wages frequently lead to companies getting better reviews for their work and customer service.

Permitting & Interconnection - The final price of your installation will be affected by local permitting and utility interconnection fees, which vary by location. Reliable local installers will incorporate these figures into your initial estimates to prevent any surprises.