Solar Panel Cost Guide in Anna, IL (2023 Update)
- Anna Solar Installation Cost: $11,567
- 25-Year Savings: $13,781
- Payback Period: 11.4 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Anna
Let's take a look at the average cost of solar in Anna.
Although the national average of solar panels is $2.66 per watt, solar panels in Anna generally cost around 2.73. Since a 6.0-kW system is needed to cover the energy costs of a typical home in Anna, the average price of going solar will be about $11,562 after claiming the federal solar tax credit of 30%.
The prices above are just estimates to give you an idea of the cost of a solar panel system. The exact cost of installing solar panels can vary depending on a few factors, such as what size system you need, your energy consumption and what company you go with. For many homeowners, the upfront cost of solar is worth paying. On average Anna homeowners see about $16,000 in savings on energy bills over 20 years.
To calculate your potential savings and connect with a local solar company, click the button below.
Solar savings over time in Anna
| Year | Return on Investment |
|---|---|
| 1 years | $-11,483 |
| 3 years | $-11,314 |
| 5 years | $-11,145 |
| 7 years | $-10,976 |
| 9 years | $-10,807 |
| 11 years | $-10,638 |
| 13 years | $-10,469 |
| 15 years | $-10,300 |
| 17 years | $-10,131 |
| 19 years | $-9,962 |
| 21 years | $-9,793 |
| 23 years | $-9,624 |
| 25 years | $-9,455 |
Top Solar Installers in Anna
When switching to solar energy, many homeowners opt to go with a solar installation company since putting up a solar system yourself can be a time-consuming project. Also, companies with an outstanding reputation that are more expensive upfront could actually save you money in the long term due to their warranties, repair services and expert design.
If you'd like to switch to solar energy but still aren't sure which solar system company to go with, here are our recommendations for providers in Anna:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
See all of the solar companies in Anna
Factors that Affect Solar Panel Costs in Anna
For many Anna homeowners, the decision to go solar depends on cost. However, the range of solar installation costs can be quite wide in Anna, with typical prices between $20,000 to $40,000. There are several factors that greatly influence the price you'll pay, which we'll go over below.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to some different factors. One of the major factors is the system size, which is measured in kilowatts (kW). Solar power systems with higher efficiency or power production require better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $2,730. There are a lot of different solar panel brands and the one you choose also affects the cost. Usually, the brands that offer higher efficiency tend to also cost more. Plus, the type of equipment you want to install can affect your total cost. If you just need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
If paying for a solar system in cash is difficult, solar loans are a solid choice because they decrease your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years. Though solar loans make going solar more accessible for Anna homeowners, they can also raise the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you make a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The final significant cost factor you should keep in mind is the installer you choose. Given the booming popularity of sustainable energy solutions in Anna, you'll have a great number of options to choose from, but each comes at varying price points for labor and equipment. Some companies only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come with an above-average cost. It's best to do some research and go with the company that offers the products, warranties and services you want and also is within your budget.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $2.84 | $11,925 | $13,202 | 11.9 years |
| 8 kW | $2.78 | $15,594 | $17,908 | 11.6 years |
| 10 kW | $2.73 | $19,110 | $22,767 | 11.4 years |
| 12 kW | $2.68 | $22,473 | $27,779 | 11.2 years |
| 14 kW | $2.62 | $25,684 | $32,944 | 11.0 years |
| 16 kW | $2.57 | $28,741 | $38,262 | 10.7 years |
| 18 kW | $2.51 | $31,646 | $43,732 | 10.5 years |
| 20 kW | $2.46 | $34,398 | $49,356 | 10.3 years |
How to Save on Solar Panels
The solar panel company you choose will influence not only your overall costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are a few important things you should consider, such as:
- Solar Panel Brands: Different companies will have various brands and kinds of panels. If you prefer a specific brand, make sure the solar panel company you're considering has it.
- Warranty: Warranties that cover panel repairs and maintenance over a couple decades are the best you can get in the business, and offering such a warranty is one mark of a good company.
- Contract: Although reading through a contract can take a lot of time, it's important to do it carefully so you can be sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
- Reputation: Make sure your solar company has a good reputation by verifying it has certifications and licenses, checking its work history and reading reviews by past customers and solar experts like the EcoWatch team.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Anna, IL Solar Cost FAQs
What is the average cost of installing solar panels in Anna?
This is a hard question to answer precisely, because the cost depends on a few different factors. Generally speaking, it costs about $13,650 for a 5-kW system and $27,300 for a 10-kW system after the ITC is applied. It will cost more if you want extra solar equipment or higher quality panels, or if you have higher-than-average energy needs. Conversely, you can spend less if you want a smaller solar panel system or less expensive solar panels.
Is it better to lease or buy solar panels in Anna?
Leasing solar panels can be an appealing choice, as it commonly comes with low or $0 upfront payments. The drawback is that you won't be able to save as much. If you lease, you don't own the system, so you can't claim any tax rebates and credits and your home value won't increase. Buying solar panels is a better option if you want to get the most savings.
Do solar panels increase your property value?
Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Anna is currently $106,600, so you can look forward to a value of about $4,371 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Anna is a worthwhile investment.
What solar power system size is right for my home?
To figure out how many solar panels you need, you need to know how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can generally produce about 250 to 400 watt-hours per hour, the average home will need 20 to 35 panels.
Our goal is to reach as many people as we can with sensible solutions like solar energy. Our team of full-time local researchers collects solar price and installation data for every city in America then compiles it to create these digestible city guides. If you want to read our solar expert's opinion on the top solar companies featured here, follow this link.
Company research was conducted by Melissa Smith and Karsten Neumeister. Local data analysis was conducted by James Savino. See something we missed or could do better? Email the editor.