Solar Panels Cost $5.4k-$16k in Yorkville, IL | October, 2024

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

With an average consumption of 639 kWh per month, Yorkville households pay about $121.23 for electricity each month. This data also encompasses the energy consumption patterns of smaller residences, such as apartments.

The electricity rate per kWh in Yorkville, IL for October 2024 is on average 18.98¢.

To satisfy the electricity requirements of an average consumer in Yorkville, a solar panel system of 6 kW or higher is a must. Upfront, a 6 kW solar system is approximately $23,220, with the federal tax credit returning 30% of your investment amount, which cuts down the total to $16,254.

Are solar panels worth it in Illinois?

For those planning to stay in their home past the solar system's payback period, solar panels are a smart investment in Yorkville. If you install a 5 kW solar system in Yorkville, IL, you might save $15,550.2 over 20 years on average, with a break even point at around 9 years.

The cost of not having solar panels in Yorkville, IL

If you don't install solar panels or an alternative backup power source, you forgo the aforementioned savings and your household is entirely dependent on your electric utility for electricity. Numerous recent news reports have illustrated that total reliance on your utility isn't always the best idea.

In Yorkville, there are about 0.72 outages per customer annually. Each outage lasts an average of 79.08 minutes. In the case of major events such as heavy rain and flooding, vandalism, or equipment failure, this period can increase substantially.

Even without a backup battery, a solar panel system can reduce the stress of future outages you may experience.

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

Your Energy Needs - With larger solar panel systems, the cost per watt declines, despite the larger upfront expense. Installing a solar panel system that can fully offset the electric bill is beneficial to homeowners because of the money saved.

Make & Model - There are a wide variety of makes and models of solar panels. The installer’s preference for system makes it crucial to pick a reputable company. Buyers generally find that utilizing higher quality equipment provides a more satisfactory long-term experience.

Solar Panel Type - The industry standard is now monocrystalline panels, and rightly so. Even though they are costlier, they provide more energy. Most installers work with panels constructed from this material.

Your Property - No two properties or homes are identical. Trees, irregular terrain, or other considerations can increase the difficulty of the installation. These days, the majority of solar installers can use satellite imagery to assess your home and include these elements into the first cost estimate.

Labor Rates - Employees get varying wages from different companies, and these costs are handed down to the consumers. Paying higher wages frequently results in companies receiving better reviews for their services and customer service.

Permitting & Interconnection - Your final installation price will be affected by the permitting and utility interconnection fees, which change by area. Quality local installers will include these figures in your first estimates to provide transparency.