Solar Panel Cost Guide in Champaign City, IL (2024 Update)
- Champaign City 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 City
We go over average solar pricing in Champaign City.
The national average cost of solar panels is $2.66 per watt, but in Champaign City it’s 4 per watt.The average solar panel system size in Champaign City is around 6.3 kilowatts, meaning a cost of about $16,614 for a solar installation, or $23,758 before the 0 federal solar tax credit is applied.
These figures are only averages, and your own solar costs will vary based on your energy needs and what company you choose to go with.Even with the large upfront cost, the average Champaign City homeowner can save around $13,000 on their power bills over 20 years, which is one of the positives of solar.
Click the button below to get connected to a highly rated solar company in your area for a custom quote.
Solar savings over time in Champaign City
| 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 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 an outstanding reputation that are more expensive upfront could actually save you money in the long term with their warranties, repair services and expert design.
If you’d like to go solar but still aren’t sure which solar system installer to go with, here are our suggestions for providers in Champaign City:
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 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 City
Factors that Affect Solar Panel Costs in Champaign City
Cost is typically one of the most important factors for homeowners considering investing in solar. There are a few major factors that will push your cost above or below the average in Champaign City: solar equipment and system size, financing options and the solar installation company you choose. We’ll go over each of these briefly below.
Solar Equipment
The size of the solar panel system you need for your household, 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 around $3,760. The kind of solar panels and equipment you want is another factor that will considerably influence costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to come at a higher price. Moreover, solar equipment goes beyond just the solar panels themselves. You’ll also need to decide on the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when searching for a solar system that falls within your budget.
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 Champaign City homeowners opt to finance their solar panel systems to offset upfront costs.When considering your overall cost, you should also calculate the interest you’ll pay if you go with a solar loan. Also, paying a higher down payment can reduce the total interest paid over time.
Solar Panel Installation Company
The remaining major cost factor you should keep in mind is the installer you choose. Given the booming popularity of green energy solutions in Champaign City, you’ll have a great number of options to choose from, but each comes at varying price points for labor and equipment.You may see national solar installers that have lower prices because of their bigger brand name and access to bulk equipment pricing, 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 | $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 company that does your system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Since choosing a company can be difficult, we have some tips to help you, such as:
- Solar Panel Brands: The brand of solar panel you want to install plays a part in which company you should opt for, since different companies have different panels.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a good reputation and is qualified to do the job well. Another way you can research your installer’s reputation is by reading reviews.
- Contract: Review the contract terms carefully to make sure you understand how much it will cost, project timeline rebates and warranties.
- Warranty: Each company may offer different types of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
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 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 City, IL Solar Cost FAQs
How much does it cost to install solar panels in Champaign City?
The average cost of solar panels in Champaign City is about $18,800 for a 5-kW system and $37,600 for a 10-kW system before the ITC, but the real cost will depend on certain factors like the type of solar panels you want, what size system you need and how much energy you use.
What other factors should I consider in addition to cost when buying solar panels?
Cost is definitely one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
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 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 often do you have to replace solar panels?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher level 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.