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

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

With an average consumption of 601 kWh per month, South Holland households pay about $114.22 for electricity. Small living spaces, such as condos and cottages, are also included in the data cited in the previous sentence.

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

To meet all of the energy needs of an average consumer in South Holland, a solar system of 5 kW or larger is required. At this time, a 5 kW solar panel system will cost you approximately $18,600, but the 30% federal income tax credit reduces the total to $13,020.

Are solar panels worth it in Illinois?

For those looking to stay in their home past the solar system's payback period, solar panels are a good investment in South Holland. Installing a 5 kW solar system in South Holland, IL will, on average, save you $14,392.8 over 20 years, and you can expect to break even in about 9 years.

The cost of not having solar panels in South Holland, IL

Failing to install solar panels or an alternative backup energy means missing the savings mentioned earlier and being entirely reliant on your electric utility for electricity. The news has provided several examples highlighting that full reliance on your utility isn't always the best idea.

On average, customers in South Holland have encountered 0.59 utility outages per year in recent times. Outages typically last for an average of 48.99 minutes. Major occurrences like overloaded power grids, wildfires or planned maintenance can lead to a significant rise in these time frames.

A solar panel system with (or without) a backup battery could ease the strain of future outages you experience.

What impacts the cost of solar panels in South Holland, IL?

Your Energy Needs - Even though larger solar panel systems are more expensive initially, the average price per watt lowers as the system size increases. Setting up a solar panel system that can fully offset the electric bill is advantageous to individuals because of the reduced long-term costs.

Make & Model - Solar panels, similar to many other products, are available in a variety of makes and models. The contractor’s preference for brand makes it crucial to choose a recommended company. Consumers who choose better equipment usually enjoy a better long-term experience.

Solar Panel Type - It's no surprise that monocrystalline panels are now the standard in the industry. These panels have a higher cost but yield more energy. Most installers in the industry utilize panels made from this material.

Your Property - Trees, uneven landscapes, or other barriers can increase the difficulty of the installation. Nowadays, solar installers typically leverage satellite images to evaluate your home and incorporate these considerations into the preliminary cost estimate.

Labor Rates - Companies pay different wages to their employees, and these expenses are inevitably borne by the consumers. It is commonly observed that companies with higher wages garner superior reviews for their services and customer service.

Permitting & Interconnection - The cost of installation will be affected by different local permitting and utility interconnection fees. Quality local installers will integrate these numbers into your first quotes to prevent any surprises.