Solar Panel Cost Guide in Canton, IL (2024 Update)
- Canton Solar Installation Cost: $16,677
- 25-Year Savings: $10,131
- Payback Period: 18.7 Years
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Average Cost of Solar Panels in Canton
We go over average solar pricing in Canton.
While the national average of solar panels is $2.66 per watt, solar panels in Canton generally cost around 4.Because a 6.3-kW system is needed to cover the energy needs of a typical home in Canton, the average price of going solar will be about $16,677 after claiming the federal solar tax credit of 0.
Bear in mind that the figures above are only estimates based on the average Canton homeowner. The cost of a solar system for your home may look different depending on factors unique to your situation, like your household energy use and solar contractor.Even with the significant initial cost, the average Canton homeowner can save about $13,000 on their electricity bills over 20 years, which is one of the advantages of solar.
Click the button below to get connected to a top solar installer in Canton for a custom estimate.
Solar savings over time in Canton
| Year | Return on Investment |
|---|---|
| 1 years | $-15,826 |
| 3 years | $-14,125 |
| 5 years | $-12,424 |
| 7 years | $-10,722 |
| 9 years | $-9,021 |
| 11 years | $-7,320 |
| 13 years | $-5,618 |
| 15 years | $-3,917 |
| 17 years | $-2,216 |
| 19 years | $-515 |
| 21 years | $1,187 |
| 23 years | $2,888 |
| 25 years | $4,589 |
Top Solar Installers in Canton
When switching to solar energy, many homeowners opt to go with a solar company since putting up a solar system yourself can be a challenging project. The payback period on a solar system will vary depending on factors like your roof configuration and energy use, but going with a solar company can shorten that period. Your provider will be able to help you identify incentives available in your area.
You can work with a local solar installer to get a free estimate on how much your investment in solar could cost for your home. Here are some nearby:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
See all of the solar companies in Canton
Factors that Affect Solar Panel Costs in Canton
There are a number of criteria that can determine your installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar system.
Solar Equipment
The size of the solar panel system you need to offset your energy usage, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, your total will most likely increase by nearly $3,760. There are a lot of different solar panel brands and the one you pick also changes the cost. Usually, the brands that have better efficiency tend to also be more expensive. 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
Many homeowners find the average cost of solar in Canton to be prohibitively costly, even if the investment pays off over time. Thankfully, nearly every solar installer in the area offers financing options. Solar loans substantially decrease upfront costs in most cases, but they also result in higher prices over time because of interest.You’ll have to consider the long-term cost of financing options, including the amount of interest you’ll pay over the length of the loan. If you’re only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or finding a solar loan with a low APR could reduce your costs considerably.
Solar Panel Installation Company
A final consideration when trying to evaluate the cost of solar for your home or business in Canton is the company you get to install your PV system. As with choosing a company to install new cabinets, for example, there are plenty of solar installers that provide a range of services for different budgets.Additionally, some companies in Canton are more knowledgeable about local solar incentives and can help you learn about additional rebates or tax exemptions. However, they may charge more for that service. Even if they cost more upfront, they could end up saving you more money in the long run.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $3.91 | $16,424 | $4,636 | 19.5 years |
| 8 kW | $3.84 | $21,477 | $6,602 | 19.1 years |
| 10 kW | $3.76 | $26,320 | $8,779 | 18.7 years |
| 12 kW | $3.68 | $30,952 | $11,166 | 18.4 years |
| 14 kW | $3.61 | $35,374 | $13,764 | 18.0 years |
| 16 kW | $3.53 | $39,585 | $16,573 | 17.6 years |
| 18 kW | $3.46 | $43,586 | $19,592 | 17.2 years |
| 20 kW | $3.38 | $47,376 | $22,822 | 16.9 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Because choosing a company can be a challenge, we have some tips to help you, such as:
- Contract: Read the contract terms closely to make sure you understand the cost breakdown, project completion timeline rebates and warranties.
- Solar Panel Brands: Not all solar companies offer the same brands of solar panels, so the brand and type of panel you want can play a large role in the company you go with.
- Reputation: Solar system installers that have great reviews from their customers and that have been operating for many years likely offer good-quality solar panel installation and expertise.
- Warranty: Companies typically offer different types of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
EcoWatch's Canton, IL Solar Cost FAQs
How much does it cost to install solar panels in Canton?
The average cost of solar panels in Canton is about $18,800 for a 5-kW system and $37,600 for a 10-kW system before the ITC, but the actual cost will depend on stuff like the type of solar panels you want, what size system you need and how much energy you use.
Should I lease or buy solar panels in Canton?
Leasing solar panels can be an option if you can’t pay upfront or secure a solar loan, but since you don’t own the system, you can’t take advantage of many solar incentives. Also your property value won’t increase, so you’ll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most savings from going solar.
Can you sell solar power back to the grid in Canton?
Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just offer you credit toward your future electricity bills.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy needs and the average daily sunlight your roof gets. You can look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to buy between 20 and 35 panels to cover their typical energy usage.
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.