Solar Panel Cost Guide in Champaign, IL (2024 Update)
- Champaign Solar Installation Cost: $16,614
- 25-Year Savings: $10,102
- Payback Period: 18.7 Years
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Average Cost of Solar Panels in Champaign
We go over average solar pricing in Champaign.
The average cost of a solar panel system in Champaign is 4 per watt.Since a 6.3-kW system is needed to cover the energy usage of a typical home in Champaign, the average price of going solar will be about $16,614 after claiming the federal solar tax credit of 0.
Remember that the numbers above are only averages. The price you’ll end up paying for solar may vary based on your household energy consumption, the type of equipment you want, your solar contractor and more.But, once you've paid the initial cost of installation, the savings for most homeowners is usually fruitful, with a net average savings of about $13,000 over 20 years on power bills.
To receive a free estimate from a top solar installation company in Champaign, you can click the button below.
Solar savings over time in Champaign
| Year | Return on Investment |
|---|---|
| 1 years | $-15,763 |
| 3 years | $-14,062 |
| 5 years | $-12,361 |
| 7 years | $-10,659 |
| 9 years | $-8,958 |
| 11 years | $-7,257 |
| 13 years | $-5,556 |
| 15 years | $-3,854 |
| 17 years | $-2,153 |
| 19 years | $-452 |
| 21 years | $1,250 |
| 23 years | $2,951 |
| 25 years | $4,652 |
Top Solar Installers in Champaign
When making the switch to solar, many homeowners decide to hire a solar company since installing solar panels yourself can be a challenging project. The expertise that solar installers offer can be invaluable as well, especially if you aren’t sure what kind of solar equipment would be right for your home.
You can work with a local solar installer to get a free quote on how much solar panels could cost for your home. Here are some in Champaign:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
Best Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
See all of the solar companies in Champaign
Factors that Affect Solar Panel Costs in Champaign
For many Champaign homeowners, the decision to go solar depends on cost. However, the range of solar installation costs can be quite wide in Champaign, with typical prices between $20,000 to $40,000. There are a few factors that significantly influence the price you’ll pay, which we'll go over below.
Solar Equipment
One of the most significant 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 about $3,760 per kilowatt in Champaign.The brand and kind of equipment you get for your solar system can increase or decrease the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these often have a higher price tag than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have a small roof or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to more savings over time. Also, if you want additional equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Champaign to be prohibitively expensive, even if the investment pays off over time. Thankfully, nearly every solar installer in the area offers financing options. Solar loans drastically decrease upfront costs for most homeowners, but they also lead to paying more over time because of interest.It’s wise to factor 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 the amount of time it’ll take to pay off the loan.
Solar Panel Installation Company
Lastly, the company you opt for to install your solar panel system can influence how much it costs. Champaign’s solar companies all have different labor costs and add varying upcharges to equipment. You may see national solar installers that have lower prices due to their bigger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or specials to compete with those larger companies.
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 | $4,644 | 19.5 years |
| 8 kW | $3.84 | $21,477 | $6,613 | 19.1 years |
| 10 kW | $3.76 | $26,320 | $8,793 | 18.7 years |
| 12 kW | $3.68 | $30,952 | $11,183 | 18.4 years |
| 14 kW | $3.61 | $35,374 | $13,784 | 18.0 years |
| 16 kW | $3.53 | $39,585 | $16,596 | 17.6 years |
| 18 kW | $3.46 | $43,586 | $19,618 | 17.2 years |
| 20 kW | $3.38 | $47,376 | $22,850 | 16.9 years |
How to Save on Solar Panels
The solar installer you go with will influence not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are a few important things you should take into account, such as:
- Contract: When reading over your solar installer’s contract, ask questions about any terms you’re not sure of and be sure you understand what happens in scenarios such as a system part breaking or if the company goes out of business.
- Installation Process: An important thing to understand when going solar is the installation process itself. Be sure to align on any details you need to know with your solar company, such as what permits you should acquire and how long the project will take.
- Warranty: Many companies offer different kinds of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Solar Panel Brands: Each solar panel brand and type has varying levels of quality, durability and efficiency. They will come at different price points as well. The company you choose affects which solar panel brands you have access to.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
Best Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
EcoWatch's Champaign, IL Solar Cost FAQs
What is the average cost of installing solar panels in Champaign?
The average cost of solar panels in Champaign is about $18,800 for a 5-kW system and $37,600 for a 10-kW system before the ITC, but the actual cost will depend on stuff such as the kind of solar panels you want, what size system you need and how much energy you consume.
Are solar panels free in Champaign?
Solar panels aren’t free in Champaign, 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 help lower the cost.
Is it worth going solar in Champaign?
Whether or not solar panels are worth it depends on some different factors like local electricity rates and how much direct sunlight your roof gets.
How often do you have to replace solar panels?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger amount of energy production.
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.