Solar Panel Cost Guide in Champaign, IL (2023 Update)
- Champaign Solar Installation Cost: $12,058
- 25-Year Savings: $10,106
- Payback Period: 13.6 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Champaign
Here's how much it might cost to install solar panels in Champaign.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Champaign, the average cost of a solar system is 2.73 per watt. The average Champaign homeowner needs a 6.3-kilowatt system, which would cost about $12,058 with the federal tax credit, or $17,243 before the 30% tax credit is applied.
Keep in mind that the numbers above are only averages. The price you'll pay for solar may vary based on your household energy needs, the type of solar system you want, your solar contractor and more. For many homeowners, the upfront investment in solar power is worth paying. On average homeowners in Champaign see about $13,000 in savings on electricity bills over 20 years.
For a personalized quote from a local solar installer that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Champaign
| Year | Return on Investment |
|---|---|
| 1 years | $-11,172 |
| 3 years | $-9,399 |
| 5 years | $-7,625 |
| 7 years | $-5,852 |
| 9 years | $-4,079 |
| 11 years | $-2,306 |
| 13 years | $-533 |
| 15 years | $1,240 |
| 17 years | $3,014 |
| 19 years | $4,787 |
| 21 years | $6,560 |
| 23 years | $8,333 |
| 25 years | $10,106 |
Top Solar Installers in Champaign
When switching to solar energy, many homeowners decide to go with a solar installer since putting up a solar system yourself can be a challenging project. Also, companies with an outstanding reputation that cost more upfront could actually save you money in the long run because of their warranties, repair services and expert design.
You can get a free estimate from a local solar installer on how much your investment in solar could cost for your home. Here are some nearby:
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 Champaign
Factors that Affect Solar Panel Costs in Champaign
Although the average cost of a solar system in Champaign is $12,058, your final cost may be higher or lower than that. There are several factors that can have a sizable impact on the cost of a solar panel installation. Below are some of the more crucial things to consider.
Solar Equipment
The size of the solar panel system you need, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by nearly $2,730. The type of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you opt for 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 in the long run on your energy bills. Additionally, add-on products, like solar batteries, can bring your total well above the Champaign average.
Solar Financing Terms
Many homeowners find the average cost of solar in Champaign to be prohibitively steep, even if the investment pays off over time. Fortunately, almost every solar company in the area provides access to financing options. Solar loans drastically decrease upfront costs in most cases, but they also result in paying more over time due to interest. It's a good idea to include 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 the amount of time it'll take to pay back the loan.
Solar Panel Installation Company
The solar installer you choose will influence your total cost to adopt solar energy. Different companies will charge different amounts for the equipment and labor. Additionally, some companies in Champaign 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 | $2.84 | $11,925 | $9,143 | 14.2 years |
| 8 kW | $2.78 | $15,594 | $12,497 | 13.9 years |
| 10 kW | $2.73 | $19,110 | $16,003 | 13.6 years |
| 12 kW | $2.68 | $22,473 | $19,662 | 13.3 years |
| 14 kW | $2.62 | $25,684 | $23,474 | 13.1 years |
| 16 kW | $2.57 | $28,741 | $27,439 | 12.8 years |
| 18 kW | $2.51 | $31,646 | $31,557 | 12.5 years |
| 20 kW | $2.46 | $34,398 | $35,828 | 12.2 years |
How to Save on Solar Panels
Since the brand of solar panels and the installer you choose greatly affects your costs and your system's efficiency, production, and durability, it's important to pick the right ones for you. Here are some things to keep in mind to help with your decision:
- 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 opt for.
- Warranty: If you're worried about the longevity of your solar panels, verifying that your company offers a 25-year, all-inclusive warranty can help put you at ease.
- Contract: It's important to look over your solar installer's contract thoroughly to understand what services they will provide, what the warranty covers and what expectations you should have about your solar system's energy production.
- Installation Process: Get detailed information from your solar installer about the installation process and what to expect, such as when the site survey will be completed and how long it will take.
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 Champaign, IL Solar Cost FAQs
How much does it cost to install solar panels in Champaign?
The average cost of solar panels in Champaign 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.
Is cost the most important consideration when buying solar panels?
Cost is definitely one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
Can solar panels completely eradicate my energy bills?
It is possible to eliminate your electricity bills with solar panels, but for most homeowners in Champaign, that will require at least a 10-kW system. Not all homes will have the roof space for that size system, so you'll want to check with a local solar installer to see how many panels can fit on your roof.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy usage and the average daily sunlight your roof gets. You can take a 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 get 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.