Solar Panel Cost Guide in Champaign City, IL (2023 Update)
- Champaign City Solar Installation Cost: $12,063
- 25-Year Savings: $10,102
- Payback Period: 13.6 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated September 15, 2023
Why you can trust EcoWatch
Average Cost of Solar Panels in Champaign City
Let's have a look at the average cost of solar panels in Champaign City.
The average cost of a solar system in Champaign City is 2.73 per watt. Because a 6.3-kW system is needed to cover the energy consumption of a typical home in Champaign City, the average price of going solar will be about $12,058 after claiming the federal solar tax credit of 30%.
Keep in mind that the figures above are only estimates based on the average Champaign City homeowner. The cost of a solar system for your home may look different depending on factors unique to you, like your household energy use and solar contractor. Despite the high initial cost, the average Champaign City homeowner can save around $13,000 on their power bills over 20 years, which is one of the advantages of solar.
You can click the button below to get connected with a pre-vetted solar company in Champaign City for a quote for your home.
Solar savings over time in Champaign City
| Year | Return on Investment |
|---|---|
| 1 years | $-11,989 |
| 3 years | $-11,841 |
| 5 years | $-11,693 |
| 7 years | $-11,546 |
| 9 years | $-11,398 |
| 11 years | $-11,250 |
| 13 years | $-11,102 |
| 15 years | $-10,955 |
| 17 years | $-10,807 |
| 19 years | $-10,659 |
| 21 years | $-10,511 |
| 23 years | $-10,364 |
| 25 years | $-10,216 |
Top Solar Installers in Champaign City
Many homeowners opt for a solar panel company since trying to put up solar panels on your own can be a labor-intensive endeavor. Companies can also offer access to a large variety of the best solar panels and help you pick which one will be best for you.
There are various licensed solar professionals that can help you install your solar panels. Here are our suggestions:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
See all of the solar companies in Champaign City
Factors that Affect Solar Panel Costs in Champaign City
For many Champaign City homeowners, the decision to install a solar energy system depends on cost. However, the range of solar installation costs can be quite wide in Champaign City, with typical prices between $20,000 to $40,000. There are a number of factors that significantly influence the price you'll pay, which we'll go over below.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a few different factors. One of the main factors is the system size, which is measured in kilowatts (kW). Solar power systems that have greater efficiency or power generation require better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $2,730. There are many different solar panel brands and the one you choose also affects the cost. In general, the brands that are more efficient tend to also be more expensive. In addition, the type of equipment you're looking to install can affect your total cost. If you only need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Many homeowners find the average cost of solar in Champaign City to be prohibitively expensive, even if the investment pays off over time. Fortunately, nearly every solar installer in the area provides financing options. Solar loans remarkably decrease upfront costs for most homeowners, but they also result in higher prices over time because of interest. It's wise to add 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 how long it'll take to pay off the loan.
Solar Panel Installation Company
The last key cost factor you should consider is the installer you choose. Given the booming popularity of sustainable energy solutions in Champaign City, you'll have many options to choose from, but each comes at various price points for labor and equipment. The company's size can sometimes play the most considerable role in the cost. Larger national companies, like SunPro and Sunrun, often have lower pricing due to access to greater resources and better pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or discount can bring their pricing lower to compete with bigger names.
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 installation 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 things to keep in mind to help with your decision:
- Installation Process: Make sure you're aligned with the company regarding how the installation process will go and what you need to do before your solar panels are installed, such as repairing your electrical system or roof.
- Warranty: If you care about the durability of your solar panel system, making sure your company offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Contract: When reading through your solar installer's contract, ask for clarification about any terms you're not sure of and make sure you understand what happens in scenarios like a system part breaking or the company going out of business.
- Solar Panel Brands: Each solar panel brand and model offers varying levels of quality, longevity and energy efficiency. They will come at different costs as well. The company you choose has an impact on 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
EcoWatch's Champaign City, IL Solar Cost FAQs
What is the average cost of installing solar panels in Champaign City?
This is a difficult question to answer exactly, because the cost depends on many factors. Generally speaking, it costs about $13,650 for a 5-kW system and $27,300 for a 10-kW system after the ITC is applied. It will be more expensive if you want additional solar equipment or higher quality panels, or if you have above-average energy consumption. On the flip side, you can spend less if you want a smaller solar panel system or cheaper solar panels.
Should I lease or buy solar panels in Champaign City?
Leasing solar panels can be an appealing choice, as it often comes with low or $0 upfront payments. The downside 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 way to go if you want to get the most savings.
Is it worth going solar in Champaign City?
Solar panels can be a good investment for lots of homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your power bills are already pretty low, solar panels might not be for you.
What solar power system size is right for my home?
To figure out how many solar panels you need, you should find out how much energy your home needs 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.