Cost to install solar panels illinois

How much do solar panels cost in Illinois?

As of May 2024, the average solar panel system costs $3.11/W including installation in Illinois. For a 5 kW installation, this comes out to about $15,539 before incentives, though prices range from $13,208 to $17,870. After the federal tax credit, the average price drops by 30%. You'll probably pay even less than what we show here.

How can I save money on solar panels in Illinois?

The best way to ensure you pay as little as possible for your panels in Illinois is to take advantage of solar incentives. Perks like the federal credit, local benefit programs and solar rebates can reduce your upfront and total system costs by thousands of dollars.

Is going solar cheaper in Illinois?

Going solar is cheaper here than in many other states, and Illinois offers tax incentives to help make paying for your system easier. When choosing a system, be sure to factor in equipment, labor, permit and roof repair or replacement costs to ensure you can afford solar before signing a contract.

What solar incentives are available in Illinois?

Here are the most popular Illinois solar incentives for homeowners who purchase solar panels in the Prairie State: The federal government offers a solar panel tax credit, allowing you to receive a credit for 30% of the cost of your solar panels through 2032.

Are solar panels tax deductible in Illinois?

In addition to the great rebates and incentives above, Illinois also offers tax exemptions for solar panel systems. The solar property tax exemption means you don't need to pay a higher property tax for adding solar panels to your house.

How much does a solar loan cost in Illinois?

Solar loans are popular in Illinois, where a cash purchase might not be realistic for residents. Instead, most financing agencies and solar panel companies provide monthly payments that sit at or below your current monthly energy charges. For most Illinois residents, that would be around $107.