Solar Panel Cost Guide in Canton, IL (2023 Update)
- Canton Solar Installation Cost: $12,116
- 25-Year Savings: $10,124
- Payback Period: 13.6 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated May 04, 2023
Why you can trust EcoWatch
Average Cost of Solar Panels in Canton
Find out what the average cost of solar panels are in Canton.
Although the national average of solar panels is $2.66 per watt, solar panels in Canton typically cost about 2.73. The average Canton homeowner needs a 6.3-kilowatt system, which would cost about $12,116 with the federal tax credit, or $17,326 before the 30% tax credit is applied.
Keep in mind that the figures above are only estimates based on the average Canton homeowner. The price 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. But, after you've paid the initial cost of installation, the savings for most homeowners is typically good, with a net average savings of about $13,000 over 20 years on energy bills.
You can click the button below to get connected with a pre-vetted solar company in Canton that can help you get a more accurate cost estimate for your home.
Solar savings over time in Canton
| Year | Return on Investment |
|---|---|
| 1 years | $-11,226 |
| 3 years | $-9,447 |
| 5 years | $-7,668 |
| 7 years | $-5,889 |
| 9 years | $-4,110 |
| 11 years | $-2,330 |
| 13 years | $-551 |
| 15 years | $1,228 |
| 17 years | $3,007 |
| 19 years | $4,786 |
| 21 years | $6,565 |
| 23 years | $8,345 |
| 25 years | $10,124 |
Top Solar Installers in Canton
Although you can install solar panels on your own, it takes extra effort and handiness. That's why most people choose a solar panel installer. The expertise that solar installers provide can be invaluable as well, particularly if you don't quite know what kind of solar equipment would be right for your home.
If you're looking for a solar installer in Canton, we've organized a list of our top suggestions here:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
See all of the solar companies in Canton
Factors that Affect Solar Panel Costs in Canton
For many Canton homeowners, the decision to install solar panels rests on cost. However, the range of solar installation costs can be quite wide in Canton, with typical prices between $20,000 to $40,000. There are a few factors that considerably influence the price you'll pay, which we'll go over below.
Solar Equipment
One of the most important factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more power your household consumes, the larger your system will likely need to be. You can expect to spend around $2,730 per kilowatt in Canton. The type of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you get the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. However, higher efficiency could save you more over time on your energy bills. In addition, extra products, such as solar batteries, can bring your total well above the Canton average.
Solar Financing Terms
Most solar companies in Canton have solar loans, which reduce the initial cost of installing a solar system. It's wise to add the interest you'll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and how long it'll take to pay back the loan.
Solar Panel Installation Company
The solar installer you choose to handle your switch to solar energy can have an effect on your total costs. There are about 3 solar panel companies operating throughout Canton, and each can charge varying amounts for labor and equipment. Companies that 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 at a higher cost. It's best to do some research and choose a company that offers the products, warranties and services you're looking for 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 | $9,135 | 14.2 years |
| 8 kW | $2.78 | $15,594 | $12,485 | 13.9 years |
| 10 kW | $2.73 | $19,110 | $15,989 | 13.6 years |
| 12 kW | $2.68 | $22,473 | $19,645 | 13.3 years |
| 14 kW | $2.62 | $25,684 | $23,454 | 13.1 years |
| 16 kW | $2.57 | $28,741 | $27,417 | 12.8 years |
| 18 kW | $2.51 | $31,646 | $31,532 | 12.5 years |
| 20 kW | $2.46 | $34,398 | $35,800 | 12.3 years |
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Since choosing a company can be a challenge, we have some tips to help you, such as:
- Installation Process: Make sure you're on the same page with the installer with regard to how the installation process will go and what you need to do before your solar panels are installed, such as updating or replacing your electrical system or roof.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a solid reputation and is qualified to install your solar system. Another way you can verify your installer's reputation is by reading reviews.
- Contract: Although reading through a contract can be tedious, it's important to do it thoroughly so you can be sure you understand what services your solar company will provide and how part repairs and replacements will be handled.
- Solar Panel Brands: Different companies have various brands and types of panels. If you want a specific brand, make sure the solar panel company you're considering has it.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
EcoWatch's Canton, IL Solar Cost FAQs
What is the average cost of installing solar panels in Canton?
This is a hard question to answer exactly, because the cost depends on many 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. You can expect to pay more if you want additional solar equipment or more efficient panels, or if you have higher-than-average energy usage. Conversely, you can spend less if you go with a smaller solar panel system or cheaper solar panels.
Is it better to 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 don't have access to many solar incentives. Also your home 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 financial benefits from going solar.
Is going solar worth it?
Whether or not solar panels are worth it depends on a variety of factors like how much you pay for electricity and how much direct sunlight your roof gets.
How often do you have to replace solar panels?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can choose to replace them after having them for that long or you can continue to use them at a lower efficiency.
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.