Solar Panel Cost Guide in Central, IL (2024 Update)

  • Central Solar Installation Cost: $16,186
  • 25-Year Savings: $16,254
  • Payback Period: 14.4 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated February 03, 2024

Why you can trust EcoWatch

We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Central

We break down average solar pricing in Central.

Although the national average of solar panels is $2.66 per watt, solar panels in Central generally cost around 4.To cover the typical energy usage of the average home in Central, most homeowners require a 6.1-kilowatt system. Using the per-watt figure above, a solar installation costs about $16,186, or $23,146 before the federal solar tax credit of 0 is applied.

How much you pay can go higher or lower than the average in Central depending on a few factors, such as the model of solar panels you choose and the solar company you hire.With average savings of about $17,000 on utility bills over 20 years, many homeowners in Central find installing solar panels can be quite rewarding.

Click the button below to get connected to a top solar installer in your area for a personalized quote.

Solar savings over time in Central

Year Return on Investment
1 years $-15,336
3 years $-13,634
5 years $-11,933
7 years $-10,232
9 years $-8,531
11 years $-6,829
13 years $-5,128
15 years $-3,427
17 years $-1,725
19 years $-24
21 years $1,677
23 years $3,379
25 years $5,080

Top Solar Installers in Central

Do-it-yourself solar panel installation is a possibility, but it's an undertaking that can be a pain. Using a solar panel installer can make your switch to solar power much easier. Solar warranties and repairs are usually included in the cost of installation when you go with a solar contractor too, which can save you more money over time.

If you're searching for a solar company in Central, we've compiled a list of our top suggestions here:

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries

Best for Leasing

Sunrun

★★★★★
4.0

  • 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 Central

Factors that Affect Solar Panel Costs in Central

For many Central homeowners, the decision to go solar rests on cost. However, the range of solar installation costs can be quite wide in Central, 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

When it comes to estimating the price of a solar system in Central, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are primarily based on your home’s energy consumption, which you can determine by looking at past electricity bills. Your total cost can increase by about $3,760 for each additional kilowatt you need.Some solar panel brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer better efficiency. In a city like Central, where sunlight is relatively abundant, efficiency can quickly pay off. Also, if you have a small roof or you don’t have a lot of space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.

Solar Financing Terms

Solar panels can save you money on energy bills over many years, but they can also be a significant investment. That’s why many Central homeowners decide to finance their solar panel systems to make paying for solar more affordable.You’ll have to consider the long-term cost of loans, 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 more than the principal cost. Making a larger down payment or finding a solar loan with a low interest rate could reduce your costs remarkably.

Solar Panel Installation Company

The solar installation company you pick will play a role in your total cost to go solar. Different companies will bill different amounts for the equipment and labor.Additionally, some companies in Central 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 help you save 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 $10,900 15.0 years
8 kW $3.84 $21,477 $14,954 14.7 years
10 kW $3.76 $26,320 $19,219 14.4 years
12 kW $3.68 $30,952 $23,695 14.2 years
14 kW $3.61 $35,374 $28,381 13.9 years
16 kW $3.53 $39,585 $33,277 13.6 years
18 kW $3.46 $43,586 $38,385 13.3 years
20 kW $3.38 $47,376 $43,702 13.0 years

How to Save on Solar Panels

Since the brand of solar panels and the company you choose has an impact on your costs and your system’s durability and efficiency, it’s important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:

  • Contract: Before you sign a contract with a solar company, be sure to look it over carefully so you understand the terms. Also, ask questions if you’re unsure about some of the terms, such as what the warranty covers and what services you can expect from them.
  • Installation Process: Make sure you’re on the same page with the installer in regard to how the installation process will go and what needs to be done before your solar system is installed, such as repairing your electrical system or roof.
  • Warranty: Warranties that provide coverage for defective panels and repairs over a couple decades are the best you can get in the business, and offering that kind of warranty is one sign of a quality company.
  • Solar Panel Brands: Each solar panel brand and kind has varying levels of quality, durability and energy efficiency. They will come at different price points as well. The company you choose plays a role in which solar panel brands you have access to.

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries

Best for Leasing

Sunrun

★★★★★
4.0

  • Expansive service area
  • Many financing options
  • Some reported issues with customer service
  • Some reported issues with door-to-door sales

EcoWatch's Central, IL Solar Cost FAQs

What is the average cost of installing solar panels in Central?

This is a difficult question to answer precisely, because the cost depends on a variety of factors. Generally speaking, it costs about $18,800 for a 5-kW system and $37,600 for a 10-kW system after the ITC is applied. It will be more expensive if you want additional solar equipment or more efficient panels, or if you have higher-than-average energy consumption. On the flip side, you can spend less if you want a smaller solar panel system or less expensive solar panels.

Should I lease or buy solar panels in Central?

Leasing solar panels can be an attractive choice, because it typically 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 maximize your savings.

How will installing solar panels impact my home value?

Solar panels can increase your home value considerably as long as you buy or finance your panels and don’t choose a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing solar panels."

How often do you have to replace solar panels?

Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can opt to replace them after having them for that long or you can keep using 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.

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