Peoria, IL Solar Panels: 2026 Costs, Incentives & Savings
Solar Power in Peoria
If you’re a Peoria homeowner watching your electricity bill climb, you’re not alone. Illinois electricity prices have increased 22% from 2020 to 2024, leaving many central Illinois residents searching for a more predictable way to power their homes. Solar installation offers a way to take control of your energy and depend less on the grid.
At Palmetto, we make going solar clear and approachable. To learn more, explore our guide on home solar panels.
Illinois by the Numbers
- 12th Most residential solar in the United States
- 73 Households have installed solar panels
- 4.7 Avg peak sun hours per day
- ~$62k Peoria average savings over 25 years
How Much Do Solar Panels Cost in Peoria, IL?
See real solar costs for Peoria, IL homes—built from our actual local installation data. This calculator reflects true numbers from homes across Peoria and nearby areas like Peoria Heights, Bartonville, Bellevue, and Dunlap. Explore what solar could cost for your home, using firsthand information you can trust.
Recommended System
- System Size: 9.84 kW
- Monthly Payment: Estimated monthly cost with LightReach $79/mo
Why Lease Solar?
- No upfront investment
- Palmetto handles all maintenance
- 90% Production Guarantee
- Comprehensive protection program included
Cost Breakdown
- System Cost: $28,095
- Price per Watt: $2.86
- Monthly Savings: $141
- Payback Period: 13.5 years
- 25-Year Savings: $61,547
Palmetto Reviews
Lisa Budde: "Once I was live, my electric bill was $12.86... I’m happy."
Darren Lindsey: "Palmetto was able to get me solar with no money out of pocket... I’ll be locked in to the cheaper same amount for 25 years!"
Matt P: "Every step of the process was a lot easier than I initially thought it would be... Happy with everything so far."
Key Takeaways
- Peoria electricity prices climbed about 20% between 2021 and 2024, so generating your own solar power gives you more predictable, stable energy costs for years to come.
- Illinois solar incentives can lower your costs through utility rebates, net metering credits, and a 20-year property tax exemption on your home’s added value.
- The average Peoria home can save around $62,000 over 25 years with solar, and leasing options let you start saving with no upfront cost.
Peoria Electricity Prices
Illinois electricity prices rose about 20% between 2021 and 2024, climbing from 13.2 to 15.9 cents per kWh. For Peoria households, that steady increase adds up year after year.
Solar installation gives Peoria homeowners a way to generate their own power. By producing electricity on-site, you rely less on the grid and gain more predictability over what you pay each month.
Price of Energy: Illinois vs National Average
| Year | Illinois Rate (¢/kWh) | US Average (¢/kWh) |
|---|---|---|
| 2021 | 13.7 | 13.2 |
| 2022 | 15.7 | 15.0 |
| 2023 | 15.9 | 16.0 |
Peoria Area Utility Providers
If you’re a Peoria homeowner, your electricity likely comes from Ameren. In 2023, Ameren’s rate averaged 17.0¢ per kWh—higher than both the Illinois state average of 15.70¢ and the national average of 16.0¢.
Peoria Utilities Electricity Rates
| Provider | Rate (¢/kWh) | Change (%) |
|---|---|---|
| Ameren | 17.00 | +6% |
| IL Average | 15.70 | -2% |
| US Average | 16.00 | — |
Illinois Solar Incentives
Peoria homeowners can tap into several solar incentives in Illinois that help offset the upfront cost of installing solar.
| Incentive | Type | Description | Source |
|---|---|---|---|
| Illinois Solar for All (ILSFA) | Rebate | Provides income-eligible households with no-upfront-cost solar installations that guarantee at least 50% savings on the value of energy produced. | Learn More |
| ComEd & Ameren Distributed Generation (DG) Smart Inverter Rebate – Solar | Rebate | Customers receive a $300-per-kW upfront rebate for solar system equipped with a smart inverter. | Learn More |
| Illinois Net Metering / Smart Solar Billing | Net Metering | Offers net metering for solar customers, with credits based on energy produced and consumed. | |
| Illinois Solar Property Tax Exemption | Property Tax Exemption | Exempts added home value from a solar installation from property tax assessments for 20 years. | Learn More |
Peoria Solar Irradiance
Solar panel production varies throughout the year based on daylight hours, weather patterns, and sun intensity. Understanding how seasons affect your solar system helps set realistic expectations for your investment.
Solar Production in Peoria by Month
- Summer Production (July): 49.9 kWh/day
- Winter Production (December): 23.3 kWh/day
- Annual Production: 13,470 kWh/year
Want to know exactly how much solar can power your home?
Get a personalized solar analysis based on your actual home, energy usage, and roof characteristics.
Solar Panel Systems in Peoria
We’ve mapped solar installations across the country, right down to the neighborhood level.
Leasing Solar Panels
In Peoria, your electricity likely comes from Ameren. Palmetto offers a Power Purchase Agreement (PPA) in Ameren territory.
Frequently Asked Questions
- Does Peoria, IL have net metering? Yes, Peoria homeowners can access net metering.
- Do solar panels increase your home value in Peoria, IL? Yes, they can increase your home’s value by about 4.1%.
- How much does it cost to go solar in Peoria, IL? A LightReach lease starts at about $79/month for a medium-sized home.