Best 5 Solar Companies in Peoria, IL

How To Choose the Best Solar Company in Peoria

Choosing a company is the first step toward a well-oiled and cost-efficient solar system. Consider each of these aspects in your company search.

Licensing and Training

In Illinois, the state Commerce Commission regulates distributed generation energy contractors, including home solar installers. You should also visit a company's website to learn about its private accreditations. Two of the most recognized are the PV Installation Professional and Solar Heating Installer certificates, granted by the North American Board of Certified Energy Practitioners (NABCEP). Some companies don't publish this information online, so you should also ask your estimator about them.

Cost of Solar Panels in Peoria

The kind of solar panels you purchase decides how much energy you can produce. Monocrystalline panels and high-quality and cost more but give you the best performance. Polycrystalline panels produce less power, but they're worth it if you want a traditional panel style without the high cost. Thin-film panels aren't meant for large home installations, but they're excellent for small projects like sheds and RVs.

If you need to charge an electric vehicle (EV) or use your solar power in dark weather, you can pay extra for accessories. By choosing the right components, you can make your panel array more productive and convenient to use. Not all solar companies include these extras, so look for a contractor that installs them if it's crucial for you.

You can expect to pay about $18,800 on average for a five-kilowatt solar energy system in Peoria. Use the table in this section to get an idea of the amount Peoria solar companies might quote for your specific solar system's price.

Financing Solar Energy in Peoria

There are a plethora of ways to pay for new solar panels, and the right one will minimize your overhead. A few of the most common options include leases, loans, cash payments, and power purchase agreements (PPAs). Though it requires a large up-front payment, cash is the most cost-effective choice because it qualifies you for solar incentives and doesn't accrue interest. Solar loans are the second most effective option. As with a car or home loan, you'll pay a monthly rate towards system ownership, including interest. You can still apply for cost-saving solar incentives, and depending on your lender, you could put as little as $0 down. Solar leases allow you to pay a monthly fee to rent your panels, while a PPA lets you pay a fluctuating rate based on only the energy you use. We generally don't recommend these options since you will not have ownership of your system and are disqualified from solar incentives, but they might be appropriate in certain circumstances. Look for contractors that offer two or more payment plans to find the right fit for your financial needs.

The table below lists the average payback periods for different capacities of solar systems in Peoria.

You can claim a 26% federal solar tax credit from the IRS for new residential solar systems purchased before 2032. Additionally, utilities and local governments may have their own financing plans and rebates that could reduce your total cost even more.