Solar Panels Cost 5.1k-15k in Wilmington village, IL | October, 2024

Solar Panels Cost $5.1k-$15k in Wilmington village, IL | October, 2024

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How much do solar panels cost in Wilmington village, IL in 2024?

You'll pay approximately $3.7/W to go solar in Wilmington village, IL in the month of October, 2024.

You should expect to spend $3,700, on average, for every 1 kW (or 1000 watts) of solar energy your panels can generate. In Wilmington village, a 5 kW solar setup will require you to pay, on average, $12,950 after the 30% federal income tax credit. Your electricity use habits might need a larger system.

On the left-hand side, you can choose your county to find out the typical roof size and the maximum capacity for solar panels in residences in your area. The following outline, below, highlights the costs, payback period, and 20-year average savings for a 5 kW system installed in your county.

Average out-of-pocket cost for a 5 kW system The upfront amount spent to buy and install solar.
Wilmington village: $12,950US Average: $12,562
Average Payback Period The number of years until you break even on the solar investment.
Wilmington village: 9 yearsUS Average: 7 years
Average Net 20-year savings The total amount of money saved over 20 years minus the out-of-pocket cost.
Wilmington village: $9,760US Average: $15,784

Solar Potential in Wilmington village

Estimated system size and solar electricity production per median viable roof in
Wilmington village.

Roof size 679sq. ft.
Capacity 9.5kW DC
Electricity 11kkWh AC per yr.

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

For Wilmington village energy consumers, the typical electric bill is $117.75 per month, with a usage of 646 kWh. Compact apartments are also encompassed in the statistics mentioned in the previous sentence. The lower energy use in these types of residences impacts those averages.

The average electricity rate in Wilmington village, IL in October 2024 is 18.23¢ per kWh.

To satisfy the electricity consumption of a typical consumer in Wilmington village, a solar system of 6 kW or more is necessary. Presently, a 6 kW solar installation will cost you roughly $22,200at first, but thanks to the 30% federal tax credit, you get a 30% reimbursement, lowering the price to $15,540.

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Average solar panel costs by system size in Wilmington village

Located below and to the left, there is the cost summary for multiple sizes of the solar panel systems set up in Wilmington village. Bigger solar installations carry a larger expense, yet they also yield greater electricity savings and higher income tax credits.

The solar panel cost calculator, located to the right and below, provides a breakdown of costs and benefits using an average $117.75 electric bill for Wilmington village. If you prefer more customized results, just modify the $117.75 to whatever your average electricity bill is.

System Size 2kW
Roof Size Min. space required
143 ft²
Electricity Value Annual Production $533 a year
Est. Price
$5,180
Savings from a 2kWthis system
  • Est. yearly production 2,960 kWh
  • Est. monthly savings $44
  • Full payback in 4 years
Environmental Impacts
  • Reduces CO2 emissions by 0.87 tons a year
  • Equivalent to planting 40 trees a year
  • Equivalent to driving 2,145 mi less a year
System Size 3kW
Roof Size Min. space required
215 ft²
Electricity Value Annual Production $799 a year
Est. Price
$7,770
Savings from a 3kWthis system
  • Est. yearly production 4,440 kWh
  • Est. monthly savings $67
  • Full payback in 5 years
Environmental Impacts
  • Reduces CO2 emissions by 1.3 tons a year
  • Equivalent to planting 60 trees a year
  • Equivalent to driving 3,217 mi less a year
System Size 4kW
Roof Size Min. space required
286 ft²
Electricity Value Annual Production $1,066 a year
Est. Price
$10,360
Savings from a 4kWthis system
  • Est. yearly production 5,920 kWh
  • Est. monthly savings $89
  • Full payback in 7 years
Environmental Impacts
  • Reduces CO2 emissions by 1.73 tons a year
  • Equivalent to planting 80 trees a year
  • Equivalent to driving 4,289 mi less a year
System Size 5kW
Roof Size Min. space required
358 ft²
Electricity Value Annual Production $1,332 a year
Est. Price
$12,950
Savings from a 5kWthis system
  • Est. yearly production 7,400 kWh
  • Est. monthly savings $111
  • Full payback in 9 years
Environmental Impacts
  • Reduces CO2 emissions by 2.17 tons a year
  • Equivalent to planting 99 trees a year
  • Equivalent to driving 5,362 mi less a year
System Size 6kW
Roof Size Min. space required
429 ft²
Electricity Value Annual Production $1,598 a year
Est. Price
$15,540
Savings from a 6kWthis system
  • Est. yearly production 8,880 kWh
  • Est. monthly savings $118
  • Full payback in 11 years
Environmental Impacts
  • Reduces CO2 emissions by 2.3 tons a year
  • Equivalent to planting 106 trees a year
  • Equivalent to driving 5,700 mi less a year

Wilmington village Solar Panel Installation Incentives & Rebates | 2024

Between 80% and 100% of your solar energy or wind turbine installation costs may be covered by the REAP Grant if you own a rural small business or farm. If you believe yourself eligible, we recommend using our REAP Grant eligibility tool to confirm your qualification.

Most residents can take advantage of a 30% federal income tax credit for residential solar, which makes it a feasible option in various areas of the United States. In addition, numerous state and local programs work to further encourage the adoption of solar power.

Different utilities and government organizations in Illinois have 7 solar rebate and incentive programs.

Solar incentives in IL

Illinois Clean Energy Community Foundation Grants

Value:Varies

Commonwealth Edison funds the Illinois Clean Energy Community Foundation (ICECF). The foundation supports private investment in renewable energy for Illinois through a variety of grant initiatives targeted at communities and schools. Eligible projects for a grant include solar, wind, and biomass installations interconnected to the grid. One initiative funding wind power for schools also supports related educational programs. Additional information is available through the ICECF website.

Net Metering

Value:Varies

Renewable energy and distributed generation customers in Illinois may enter net metering or "dual metering" arrangements with their utility. By using their generation system, customers generate renewable energy credits. By law, they hold ownership of the RECs they generate, but they may choose to sell them to the utility upon signing a net metering contract. Dual metering is for property types in a "competitive class". Utilities should install a dual-channel meter to measure net excess generation (NEG) sent back to the grid. The customer will receive a bill credit for monthly NEG at a variable rate. Net metering operates in a similar fashion, but uses a single bidirectional meter and is designed for residential and certain commercial properties (these are "non-competitive classes".) Additional information is available from the Illinois Department of Energy.

Interconnection Standards

Value:Varies

Illinois has adopted various state standards for distributed generation and interconnection using systems rated for less than 10 MW. Regulations are amended and enforced by the Illinois Commerce Commission (ICC). Each connected generation system is sorted into one of four tiers based on capacity. Which tier a system falls into determines engineering standards, permit processes, and the minimum liability insurance coverage that the system's owner must carry. Distributed generation for systems over 10 MW is also standardized under a different set of rules. Additional information is available from the ICC website.

Renewable Portfolio Standard

Value:Varies

The Illinois legislature enacted the state's first renewable portfolio standard in 2007 and established the Illinois Power Agency for its enforcement. The current standard requires 25% of the state's renewable energy to come from renewable sources by 2026, with 6% coming from solar installations, 75% from wind turbines, and 1% from distributed generation systems. Compliance is measured using a renewable energy credit (REC) system pegging electric capacity to an adjusted dollar value. Utilities in the state must obtain these credits through their own generation activities or by purchasing them from distributed generation customers.

Energy Efficiency in State Government

Value:Varies

New government buildings or renovation projects in Illinois should comply with certain green building standards. Any new occupied state building or renovation affecting a maximum of 10,000 square feet should meet the highest feasible LEED standard, though the state does not need to apply for formal LEED certification. New buildings or renovation projects over 10,000 square feet must meet LEED Silver standards and apply for formal certification. A project may be exempt if costs toward meeting green building standards exceed benefits. Historic buildings may carry an exemption by default if improvements would negatively affect their aesthetics or status. Additional information is available from the Illinois Department of Commerce website.

Illinois Municipal Electric Agency - Electric Efficiency Program

Value:Varies

Residential, commercial, and wholesale customers of the Illinois Municipal Electric Agency may be eligible for a variety of financial incentives on energy efficiency equipment and projects. Eligible items and services will change from time to time. Current programs include rebate offers on HVAC, lighting, motors, and generation equipment. For each of these projects, the rebate amount averages at 7 cents per saved kilowatt hour for the first year of the improvements' deployment. The application process involves project reviews. Customers should submit copies of the city permits they have obtained for their proposed projects. To ensure accountability, IMEA requires the submission of receipts and a final inspection upon completion of the project. Additional information is available from the IMEA website.

Solar Renewable Energy Credits

Value:Varies

The Illinois Power Agency is a legislative organization that aids several private electrical utilities (Commonwealth Edison and Ameren, specifically) in purchasing renewable energy credits, including credits designated exclusively for solar energy. To meet renewable portfolio standards, the IPA acts as a diplomatic middleman to create purchasing agreements between utilities. As IPA both designs and operates procurement programs using a variety of tracking systems, customers participating in arrangements such as net metering may interface directly with the IPA. Additional information is available from the agency website.

Are solar panels worth it in Illinois?

If you intend to own your residence longer than the solar system's payback period, solar panels are a good investment in Wilmington village. Over a 20 year period, a 5 kW solar system in Wilmington village, IL could save you approximately $15,310, with the average break even time being 9 years.

The cost of not having solar panels in Wilmington village, IL

Besides missing out on the previously mentioned savings, not having solar panels or any backup energy system leaves you totally reliant on your electric utility for power. As demonstrated by recent news, total dependence on your utility isn't always the most favorable situation.

Lately, utilities in Wilmington village have reported an average of 0.59 outages per customer annually. On average, each outage lasts for 48.99 minutes. Major events like tornadoes, equipment failure, or wildlife damage can considerably extend these durations.

Regardless of whether a backup battery is there or not, a solar panel system could reduce the pressure of potential future outages.

Power Outages

Currently, 0 customers are being tracked in Greene County.

Learn more

Customers Out:

0

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What impacts the cost of solar panels in Wilmington village, IL?

Your Energy Needs - Even though larger solar panel systems have a higher initial cost, the cost per watt declines. Many consumers find it advantageous to install a system that can generate enough electricity to offset the entirety of their electric bill. This math makes the most sense for optimal savings.

Make & Model - Just like any other product, solar panels and mounting equipment are available in a variety of makes and models. The potential brand preferences of your chosen installer make it crucial to pick a recommended contractor. Opting for better quality equipment usually provides a more satisfying long-term experience for the buyer.

Solar Panel Type - Monocrystalline panels have become the industry standard, and for good reason. They are costlier but generate more energy. Most professionals in solar installation work with panels crafted from this material.

Your Property - Each property and home has its own characteristics. Factors such as trees, sloping terrain, or additional considerations can make the installation more challenging. Using satellite images, most solar installers these days can evaluate your home and incorporate these considerations into the preliminary cost estimate.

Labor Rates - Various wages are paid to employees by various companies, and these expenses are transferred to the consumers. Businesses paying higher wages typically get better 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. Reliable local installers will build these figures into your first estimates to eliminate any surprises.

See what solar panels cost in other IL cities

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Who are the best solar installers in Wilmington village?

Freedom Forever

Temecula, CA(800) 685-1850

Services

  • Installation of batteries for energy storage.
  • Expertise in consulting on advantageous financing for solar.
  • Installation of solar arrays.

Solar SME Inc.

Duncanville, TX(832) 626-2337

Services

  • Installation of batteries for energy storage.
  • Installation of solar arrays.
  • Expertise in consulting on advantageous financing for solar.

YellowLite

Cleveland, OH(877) 743-8757

Services

  • Reparation of solar arrays.
  • Expertise in consulting on advantageous financing for solar.
  • Installation of batteries for energy storage.
  • Installation of solar arrays.

Academy Energy Group

Newburgh, IN(812) 518-2150

Services

  • Auditing of energy requirements for independent energy generation.
  • Solar systems for selling electricity back to the grid.
  • Monitoring of independent energy generation.
  • Reparation of solar arrays.
  • Installation of solar arrays.

SunVest Solar

Pewaukee, WI(262) 547-1200

Services

  • Installation of solar arrays.
  • Expertise in consulting on advantageous financing for solar.

Plug PV

Albany, NY(518) 948-5316

Services

  • Expertise in consulting on advantageous financing for solar.
  • Installation of solar arrays.
  • Installation of batteries for energy storage.
  • Monitoring of independent energy generation.

SunPro Solar

Mandeville, LA(866) 599-3643

Services

  • Auditing of energy requirements for independent energy generation.
  • Installation of solar arrays.
  • Monitoring of independent energy generation.
  • Solar systems for selling electricity back to the grid.
  • Expertise in consulting on advantageous financing for solar.
  • Consulting on all things solar related.
  • Installation of batteries for energy storage.

Power Home Solar

Mooresville, NC(704) 870-3670

Services

  • Installation of batteries for energy storage.
  • Consulting on all things solar related.
  • Solar systems for selling electricity back to the grid.
  • Expertise in consulting on advantageous financing for solar.
  • Reparation of solar arrays.
  • Installation of solar arrays.

RISE Power

Richardson, TX(855) 747-3769

Services

  • Solar systems for selling electricity back to the grid.
  • Installation of solar arrays.
  • Reparation of solar arrays.
  • Installation of batteries for energy storage.
  • Monitoring of independent energy generation.
  • Consulting on all things solar related.

Dividend Finance

San Francisco, CA(415) 805-7000

Services

  • Expertise in consulting on advantageous financing for solar.
  • Installation of solar arrays.
  • Installation of batteries for energy storage.

Eagle Point Solar

Dubuque, IA(563) 582-4044

Services

  • Installation of solar arrays.
  • Reparation of solar arrays.
  • Expertise in consulting on advantageous financing for solar.

Palmetto Solar

Charleston, SC(855) 339-1831

Services

  • Installation of solar arrays.
  • Installation of batteries for energy storage.
  • Solar systems for selling electricity back to the grid.
  • Expertise in consulting on advantageous financing for solar.
  • Reparation of solar arrays.

SunPower Corporation

San Jose, CA(800) 786-7693

Services

  • Installation of solar arrays.
  • Solar systems for selling electricity back to the grid.
  • Monitoring of independent energy generation.
  • Installation of batteries for energy storage.
  • Reparation of solar arrays.
  • Consulting on all things solar related.
  • Expertise in consulting on advantageous financing for solar.

Silver Sun Solar

Deltona, FL(340) 227-7785

Services

  • Expertise in consulting on advantageous financing for solar.
  • Installation of batteries for energy storage.
  • Solar systems for selling electricity back to the grid.
  • Installation of solar arrays.

Tick Tock Energy

Effingham, IL(217) 994-9020

Services

  • Installation of solar arrays.
  • Expertise in consulting on advantageous financing for solar.
  • Installation of batteries for energy storage.

Harvest Solar

Jackson, MI(888) 907-6527

Services

  • Installation of solar arrays.
  • Expertise in consulting on advantageous financing for solar.
  • Consulting on all things solar related.

AES Solar

Carterville, IL(618) 988-0888

Services

  • Expertise in consulting on advantageous financing for solar.
  • Solar systems for selling electricity back to the grid.
  • Consulting on all things solar related.
  • Installation of batteries for energy storage.
  • Installation of solar arrays.

Sunnova Energy

Houston, TX(866) 786-6682

Services

  • Installation of batteries for energy storage.
  • Installation of solar arrays.
  • Expertise in consulting on advantageous financing for solar.

Sunrun

San Francisco, CA(833) 394-3384

Services

  • Expertise in consulting on advantageous financing for solar.
  • Monitoring of independent energy generation.
  • Installation of batteries for energy storage.
  • Installation of solar arrays.
  • Solar systems for selling electricity back to the grid.

GRNE Solar

Palatine, IL(312) 859-3417

Services

  • Installation of solar arrays.
  • Consulting on all things solar related.
  • Expertise in consulting on advantageous financing for solar.
  • Installation of batteries for energy storage.

Sigora Solar

Charlottesville, VA(434) 465-6192

Services

  • Solar systems for selling electricity back to the grid.
  • Expertise in consulting on advantageous financing for solar.
  • Installation of batteries for energy storage.
  • Installation of solar arrays.

Entegrity

Little Rock, AR(800) 700-1414

Services

  • Expertise in consulting on advantageous financing for solar.
  • Installation of solar arrays.

Ideal Energy

Fairfield, IA(800) 634-4454

Services

  • Expertise in consulting on advantageous financing for solar.
  • Reparation of solar arrays.
  • Installation of batteries for energy storage.
  • Installation of solar arrays.

Soltage

Jersey City, NJ(201) 432-1786

Services

  • Expertise in consulting on advantageous financing for solar.
  • Installation of batteries for energy storage.
  • Installation of solar arrays.

Engie North America

Houston, TX(713) 636-0000

Services

  • Expertise in consulting on advantageous financing for solar.
  • Installation of batteries for energy storage.
  • Installation of solar arrays.

City Electric Supply

Dallas, TX(866) 634-9853

Services

  • Installation of solar arrays.
  • Expertise in consulting on advantageous financing for solar.
  • Consulting on all things solar related.

LightEdison

Denver, CO(888) 966-6377

Services

  • Reparation of solar arrays.
  • Installation of batteries for energy storage.
  • Expertise in consulting on advantageous financing for solar.
  • Installation of solar arrays.

PowerHome Solar

Mooresville, NC(704) 870-3670

Services

  • Installation of solar arrays.
  • Expertise in consulting on advantageous financing for solar.
  • Installation of batteries for energy storage.
  • Solar systems for selling electricity back to the grid.

Empire Solar Group

Salt Lake City, UT(800) 467-4562

Services

  • Installation of solar arrays.
  • Solar systems for selling electricity back to the grid.
  • Installation of batteries for energy storage.

Badass Energy

Claremont, CA(909) 320-9860

Services

  • Installation of solar arrays.
  • Consulting on all things solar related.
  • Installation of batteries for energy storage.

Wilmington village, IL Solar Panel Cost FAQs

  • The typical cost per watt for solar panels in Wilmington village, IL as of October, 2024 is $3.7/W. For a 5 kW solar panel system, the total cost in Wilmington village, IL after federal tax credits is around $12,950.
  • At present, there are 7 rebates and incentives available to Illinois residents from various utility and government programs. Furthermore, the majority of people qualify for the 30% federal tax credit.
  • While cash payments offer the most savings, there are now many financing options for solar panels that are also advantageous. Information about financing options is typically detailed in initial quotes provided by installers.
  • Yes, homeowners in Wilmington village, IL generally see a payback time of 9 years for 5 kW solar panel systems, with electricity savings averaging $15,310 over a 20-year period.
Ginalyn Gelera
Last Reviewed By: Ginalyn Gelera
Published: 2024-10-01