Solar Panels Cost $4.9k-$14k in Troy Grove, IL | October, 2024

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

On average, Troy Grove residents pay $131.65 for their electric bill each month and use 701 kWh. These statistics also include apartments and other smaller residences with reduced energy demand.

The average rate for electricity in Troy Grove, IL in October, 2024 is 18.78¢ per kWh.

Average citizens in Troy Grove will want a solar panel system with a generation capacity of 6 kW or larger to satisfy their full electricity consumption requirements. Installing a a 6 kW solar panel installation will be priced at about $21,240 initially, but with the 30% federal tax credit, you can receive a 30% reimbursement, reducing the cost to $14,868.

Are solar panels worth it in Illinois?

For those expecting to remain in their homes after the solar system's payback period, installing solar panels is a obvious choice in Troy Grove. By installing a 5 kW solar system in Troy Grove, IL, you can expect to save roughly $19,206 over 20 years, with the break even point usually being 8 years.

The cost of not having solar panels in Troy Grove, IL

Without solar panels or another backup power source, you miss out on the savings discussed previously and rely entirely on your electric utility for electricity. As we've seen in many recent news reports, full reliance on your utility isn't always ideal.

Recently, the average number of utility outages per customer in Troy Grove has been 1.38 annually. Outages generally last for an average of 105.25 minutes. During major occurrences like landslides, aging infrastructure, or construction accidents, these times can extend significantly.

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

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

Your Energy Needs - Larger solar panel systems require more upfront investment, but the cost per watt decreases as the size of the system increases. Many people find it useful to install a solar energy system that can replace their entire electric bill. This results in optimal savings.

Make & Model - There are a variety of makes and models of solar panels and mounting equipment. Taking into account the certain brand preferences an installer might have, picking a reputable contractor is important. Choosing superior quality equipment usually provides a more favorable long-term experience for the buyer.

Solar Panel Type - Monocrystalline panels have emerged as the standard in the industry, and deservedly so. They have a higher price, but they provide more energy. Most solar panel installers choose this type of material.

Your Property - Trees, sloped land, or additional considerations can increase the complexity of the installation. Nowadays, the majority of solar installers can assess your home with satellite images and incorporate these elements in the preliminary cost estimate.

Labor Rates - Companies compensate their employees in varying amounts, and these costs are passed down to consumers. Higher wages frequently lead to companies getting better reviews for their services and customer service.

Permitting & Interconnection - The local permitting and utility interconnection fees, which vary by region, will affect your final installation price. Quality installers will factor these costs into your preliminary quotes to prevent unexpected expenses.