Solar Panel Cost Guide in Catlin, IL (2023 Update)
- Catlin Solar Installation Cost: $12,115
- 25-Year Savings: $12,522
- Payback Period: 12.3 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated September 15, 2023
Why you can trust EcoWatch
Average Cost of Solar Panels in Catlin
Let's take a look at the average cost of solar panels in Catlin.
While the national average of solar panels is $2.66 per watt, solar panels in Catlin generally cost around 2.73. Since a 6.3-kW system is needed to cover the energy costs of a typical home in Catlin, the average price of going solar will be about $12,116 after claiming the federal solar tax credit of 30%.
The actual price you pay can be higher or lower than the average in Catlin depending on a variety of factors, such as the type of solar panels you choose and the solar installer you hire. Many homeowners find going solar is a sound investment. The average homeowner in Catlin can save around $15,000 on their energy bills over 20 years.
To receive a free quote from a highly rated solar installer in Catlin, you can click the button below.
Solar savings over time in Catlin
| Year | Return on Investment |
|---|---|
| 1 years | $-12,033 |
| 3 years | $-11,868 |
| 5 years | $-11,704 |
| 7 years | $-11,540 |
| 9 years | $-11,376 |
| 11 years | $-11,211 |
| 13 years | $-11,047 |
| 15 years | $-10,883 |
| 17 years | $-10,719 |
| 19 years | $-10,555 |
| 21 years | $-10,390 |
| 23 years | $-10,226 |
| 25 years | $-10,062 |
Top Solar Installers in Catlin
Although it's possible to install solar panels on your own, it requires extra energy and handiness. That's one of the reasons the majority of homeowners choose to hire a solar panel installer. The expertise that solar companies provide can be helpful as well, especially if you don't quite know what kind of solar equipment you need.
If you're searching for a solar company in Catlin, we've compiled 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
See all of the solar companies in Catlin
Factors that Affect Solar Panel Costs in Catlin
Although the average cost of a solar system in Catlin is $12,116, your actual cost may be higher or lower than that. There are many factors that can have a significant impact on the cost of a residential solar panel installation. Below are some of the more important things to keep in mind.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a few different factors. One of the notable factors is the system size, which is measured in kilowatts (kW). Solar power systems that have greater efficiency or power production use 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 changes the cost. Generally, the brands that have better efficiency tend to also be more expensive. Plus, the type of equipment you're looking 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
For some homeowners, paying for solar panels out of pocket can be a challenge. Solar loans are available from most installers in Catlin, which can reduce, or in some cases eliminate, your upfront costs to make solar more accessible. It's a good idea to factor the interest you'll pay in your final cost estimate. If you can afford to pay a larger down payment, you can reduce your total costs and how long it'll take to pay back the loan.
Solar Panel Installation Company
Finally, the company you get to install your solar system can affect the cost. Catlin's solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Catlin are more knowledgeable about local solar incentives and can help you make good use of 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 | $2.84 | $11,925 | $11,392 | 12.8 years |
| 8 kW | $2.78 | $15,594 | $15,495 | 12.5 years |
| 10 kW | $2.73 | $19,110 | $19,751 | 12.3 years |
| 12 kW | $2.68 | $22,473 | $24,160 | 12.0 years |
| 14 kW | $2.62 | $25,684 | $28,722 | 11.8 years |
| 16 kW | $2.57 | $28,741 | $33,437 | 11.6 years |
| 18 kW | $2.51 | $31,646 | $38,304 | 11.3 years |
| 20 kW | $2.46 | $34,398 | $43,325 | 11.1 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you select the right company for you, here are some tips to keep in mind:
- Reputation: Make sure your solar system installer has a good reputation by confirming it has certifications and licenses, checking its number of years in business and reading reviews by past customers and solar experts like EcoWatch.
- Warranty: Warranties that provide coverage for defective panels and repairs over around 25 years are the best you can get in the business, and offering that kind of warranty is one sign of a good company.
- Contract: When reading through your solar company's contract, ask questions about any terms you're not sure of and make sure you understand what happens in scenarios like a system component breaking or if the company goes out of business.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their roof configurations and energy needs. While there are many options for which kind of solar panel you can get, not every company will have access to the exact one you may want or need, so be sure to peruse their list of offerings before making your decision.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Catlin, IL Solar Cost FAQs
How much does it cost to install solar panels in Catlin?
The average cost of solar panels in Catlin is about $13,650 for a 5-kW system and $27,300 for a 10-kW system before the ITC, but the actual cost will depend on things like the model of solar panels you want, what size system you need and how much energy you use.
Can you get solar panels for free in Catlin?
You can't get solar panels for free in Catlin. However, you may still be able to install them on a lower budget. You can lease solar panels for a low upfront cost or, if you'd prefer to own your solar panels, you can finance them with a solar loan.
Can solar panels significantly reduce my energy bills?
Solar panels can potentially eliminate your electricity bills depending on your location and how much sunlight your home gets. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $777.23 per year.
How many solar panels should I get to power my home?
The exact number of solar panels you need depends on your household energy consumption and the amount of 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 account for 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.