Solar Panel Cost Guide in Champaign City, IL (2023 Update)
- Champaign City Solar Installation Cost: $12,058
- 25-Year Savings: $10,106
- Payback Period: 13.6 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Champaign City
Here's how much it might cost to switch to solar power in Champaign City.
In Champaign City, solar panels cost about 2.73 per watt on average. The average solar panel system size in Champaign City is around 6.3 kilowatts, meaning a cost of about $12,058 for a solar installation, or $17,243 before the 30% federal solar tax credit is applied.
These figures are just estimates, and the cost of going solar for you will most likely differ based on your specific situation and what company you choose to go with. For many homeowners, the upfront investment in solar is worth paying. On average you could be looking at about $13,000 in savings on utility bills over 20 years.
You can click the button below to get connected with a vetted solar installer in Champaign City for a quote for your home.
Solar savings over time in Champaign City
| 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 City
Many homeowners opt for a solar panel installer since figuring out how to install solar panels on your own can be challenging. Also, companies with a good reputation that cost more upfront could actually save you money in the long run due to their warranties, repair services and expert design.
Working with a vetted solar installer can make going solar easier. Here are our recommendations:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
See all of the solar companies in Champaign City
Factors that Affect Solar Panel Costs in Champaign City
The cost of installing a solar system in Champaign City can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The largest one is the size of the system your household needs, and other factors include the equipment you choose, financing options and the solar installer you choose.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of going solar. Because of that, it's crucial to accurately ascertain the size of the solar energy system needed for your home by figuring out your average energy use. The brand and type of equipment you want for your solar system can raise or lower the price quite significantly. If you prefer a 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 will be looking at a higher equipment cost, but this can typically lead to greater savings over time. Also, if you want add-ons like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be difficult. Solar loans are provided by most installers in Champaign City, which can bring down, or in some cases eliminate, your upfront costs to make solar more affordable. When figuring out your overall cost, you should also calculate the interest you'll pay if you opt for a solar loan. Also, paying more upfront can reduce the total interest paid over time.
Solar Panel Installation Company
Lastly, the company you hire to install your solar system can impact your pricing. Champaign City's solar companies all have different labor costs and add varying upcharges to equipment. Larger national companies usually have lower costs, but some local companies keep up with them by promoting sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or additional services like electric car charger installation, they might be cheaper overall.
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
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you decide on the right company for you, here are some tips to keep in mind:
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their roof configurations and energy needs. Although there are many options for which brand of solar panel you can get, not every company will have the exact one you may want or need, so make sure you ask for their list of options before making your decision.
- Installation Process: Homeowners should make sure they know how exactly the installation process will be carried out, as well as important factors like the project completion timeline.
- Warranty: If you care about the longevity of your solar energy system, making sure your company offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Contract: Review the contract terms carefully to make sure you understand the total cost, completion timeline incentives and warranties.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
EcoWatch's Champaign City, IL Solar Cost FAQs
What is the average cost of installing solar panels in Champaign City?
The average cost of solar panels in Champaign City 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 certain factors such as the type of solar panels you want, what size system you need and how much energy you consume.
Should I lease or buy solar panels in Champaign City?
Leasing solar panels can be an appealing choice, because it commonly 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 incentives and your home value won't increase. Buying solar panels is a better way to go if you want to maximize your savings.
How will having solar panels impact my property value?
Solar panels can increase the value of your home significantly as long as you buy or finance your panels and don't go for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% with a solar installation."
How many solar panels do I need to power my home?
To figure out how many solar panels you need, you need to know how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can generally produce about 250 to 400 watt-hours per hour, the average house will need 20 to 35 panels.
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.