Solar Panel Cost Guide in Catlin, IL (Mar 2023)
- Catlin Solar Installation Cost: $12,116
- 25-Year Savings: $12,521
- Payback Period: 12.3 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Catlin
Here's how much it might cost to install solar panels in Catlin.
While the national average of solar panels is $2.66 per watt, solar panels in Catlin typically cost about 2.73. The average Catlin 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.
How much you pay can go above or below the average in Catlin depending on a variety of factors, such as the model of solar panels you choose and the solar installer you hire. But, after you've paid the initial cost of installation, the payback for most homeowners is quite fruitful, with a net average savings of about $15,000 over 20 years on electricity bills.
For a free quote from a local solar installer that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Catlin
| Year | Return on Investment |
|---|---|
| 1 years | $-11,130 |
| 3 years | $-9,159 |
| 5 years | $-7,188 |
| 7 years | $-5,218 |
| 9 years | $-3,247 |
| 11 years | $-1,276 |
| 13 years | $695 |
| 15 years | $2,666 |
| 17 years | $4,637 |
| 19 years | $6,608 |
| 21 years | $8,579 |
| 23 years | $10,550 |
| 25 years | $12,521 |
Top Solar Installers in Catlin
Although it's possible to install solar panels yourself, it requires extra energy and know-how. For that reason, almost all homeowners choose a solar panel installer. Plus, if you're unsure what kind of solar panels and equipment you need, a solar expert can help you figure that out after a site survey and consultation.
If you're looking for a solar installer in Catlin, 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 (coming 2022)
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
See all of the solar companies in Catlin
Factors that Affect Solar Panel Costs in Catlin
The cost of installing a solar system in Catlin can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The biggest one is your system size, and other factors include the equipment you choose, financing options and the solar installer you choose.
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 $2,730. The kind of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you choose the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. On the other hand, more efficient panels could save you more over time on your electric bills. Additionally, add-on products, such as solar batteries, can bump up your total well above the Catlin average.
Solar Financing Terms
Solar panels can save you money on energy bills over time, but they can also be a significant investment. That's why many Catlin homeowners choose to finance their solar panel systems to offset upfront costs. You'll have to consider the long-term cost of financing options, including the total interest you'll pay over the length of the loan. If you can only 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 interest rate could reduce your costs considerably.
Solar Panel Installation Company
The solar installer you choose to handle your switch to renewable energy can have an effect on your total costs. There are about 3 solar panel companies operating in Catlin, and each can charge varying amounts for labor and equipment. You may notice national solar installers that have lower prices because of their larger brand name and access to bulk equipment prices, or you might see small, local installation companies offering deals or specials to compete with those major players.
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
The solar installer you choose will be a major factor in determining not only your total costs, but also the types of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are some important things you should consider, including:
- 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.
- Reputation: Make sure your solar panel installer has a good reputation by verifying it has certifications and licenses, checking how long it's been in business and reading reviews by previous customers and solar experts like EcoWatch.
- Solar Panel Brands: Not all solar companies carry the same brands of solar panels, so the brand and type of panel you want can play a considerable role in the company you go with.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
EcoWatch's Catlin, IL Solar Cost FAQs
What is the average cost of installing solar panels in Catlin?
This is a difficult question to answer precisely, because the cost depends on a few different factors. Broadly 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 other solar equipment or more efficient panels, or if you have above-average energy needs. On the flip side, you can spend less if you choose a smaller solar panel system or less expensive solar panels.
Can you get solar panels for free in Catlin?
A solar panel system isn't free in Catlin, but there are some options that can make getting them more feasible, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can further reduce the cost.
Is making the switch to 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 the amount of direct sunlight your roof gets.
How long do solar panels last in Catlin?
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 how much energy they produce will have decreased significantly after that point. You can replace them once you've had 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.