Solar Panels Cost $2.6k-$13k in Shorewood, IL | October, 2024

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

Energy consumers in Shorewood usually use 601 kWh per month, with an average monthly bill of $114.22. These numbers also encompass apartments and smaller dwellings with reduced energy demand.

Shorewood, IL's electricity rate is on average 18.99¢ per kWh in October 2024.

In Shorewood, the average electricity consumer has to have a solar power setup of 5 kW or larger to meet their entire electricity requirements. Before incentives, a 5 kW solar installation is around $19,000, with the federal income tax credit giving you 30% back, which cuts down the total to $13,300.

Are solar panels worth it in Illinois?

For homeowners in Shorewood planning to stay beyond the payback period of their solar system, solar panels are the obvious choice. Having a 5 kW solar system in Shorewood, IL can potentially save you around $14,112.8 over a span of 20 years, with an average break even point of 10 years.

The cost of not having solar panels in Shorewood, IL

In addition to missing out on the savings mentioned above, not installing solar panels or an alternative backup energy source means total reliance on your electric utility for electricity. The news has provided several examples highlighting that relying entirely on your utility isn't always ideal.

In Shorewood, there are about 0.59 outages per customer annually. Outages typically last for an average of 48.99 minutes. Major occurrences like wildlife damage, aging infrastructure or lightning strikes can lead to a significant rise in these time frames.

With or without a backup battery, a solar panel system could relieve the stress of future power disruptions you might face.

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

Your Energy Needs - The cost per watt drops with larger solar panel systems, even if the upfront cost is larger. Consumers often discover that setting up a solar system to replace their electric bill is a smart choice, resulting in the most savings.

Make & Model - Like many products, solar panels and mounting equipment are offered in a variety of makes and models. Because the installer you choose might have specific brand preferences, selecting a reputable installer is even more important. Higher quality makes and models generally result in a more satisfactory long-term experience for buyers.

Solar Panel Type - Monocrystalline panels have established themselves as the industry standard, and for valid reasons. Even with a higher cost, this technology generate more energy. Most installers opt for panels crafted using this material.

Your Property - No two homes or properties are the same. Elements such as sloped land, trees, or other obstacles might complicate the installation process. These days, many solar installers can leverage satellite imagery to evaluate your home and incorporate these aspects into the preliminary cost estimate.

Labor Rates - Companies pay their employees in varying amounts, and these costs are borne by consumers. Businesses that pay higher wages frequently receive higher reviews for their work and customer service.

Permitting & Interconnection - Depending on the area, local permitting and utility interconnection fees will influence the cost of your installation. Reputable local installers will include these numbers into your initial quotes to prevent any surprises.