Solar Panel Cost Guide in Channahon, IL (Jan 2023)
- Channahon Solar Installation Cost: $12,326
- 25-Year Savings: $10,286
- Payback Period: 13.6 Years
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Updated January 20, 2023
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Average Cost of Solar Panels in Channahon
Find out what the average cost of solar panel installation is in Channahon.
In Channahon, solar panels cost about $3 per watt on average. To account for the typical energy usage of the average home in Channahon, most homeowners require a 6.5-kilowatt system. Using the figure above, a solar installation costs around $12,326, or $9,121 after the federal solar tax credit of 30% 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 use, the type of solar panels you choose, your solar contractor and more. Many homeowners find installing solar panels is a solid investment. The average homeowner in Channahon can save around $13,000 on their energy bills over 20 years.
You can click the button below to get connected with a vetted solar installer in Channahon for a quote for your home.
Solar savings over time in Channahon
| Year | Return on Investment |
|---|---|
| 1 years | $-11,421 |
| 3 years | $-9,613 |
| 5 years | $-7,804 |
| 7 years | $-5,995 |
| 9 years | $-4,186 |
| 11 years | $-2,377 |
| 13 years | $-568 |
| 15 years | $1,241 |
| 17 years | $3,050 |
| 19 years | $4,859 |
| 21 years | $6,668 |
| 23 years | $8,477 |
| 25 years | $10,286 |
Top Solar Installers in Channahon
Trying to put up solar panels on your own can be a dangerous task, which is why getting a solar installer is a good option for many homeowners. Companies can also offer access to various kinds of the best solar panels and help you choose which one will be right for your home.
Working with a licensed solar company can help you make the most of your investment in solar. Here are our recommendations:
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 Channahon
Factors that Affect Solar Panel Costs in Channahon
The cost of installing a solar system in Channahon can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The most significant one is your system size, and other factors include equipment choices, financing options and the solar company you choose.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a few different factors. One of the key factors is the system size, which is measured in kilowatts (kW). Solar power systems that have higher efficiency or power generation need 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. Some solar brands — like Maxeon from SunPower — cost more upfront but also tend to offer better efficiency. In a city like Channahon, where sunlight is relatively abundant, efficiency can quickly pay off. Also, if you have a small roof or limited space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
If paying for solar panels out of pocket is out of reach, solar loans are an affordable option because they reduce your upfront costs and let you pay for your system over a term of, on average, between five and seven years. It's a good idea to add the interest you'll pay in your final cost estimate. If you can afford to pay a higher down payment, 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 hire to install your solar system can influence your pricing. Channahon's solar companies all have different labor costs and add varying upcharges to equipment. Larger national companies typically have lower costs, but some local companies undercut 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 | $9,121 | 14.2 years |
| 8 kW | $2.78 | $15,594 | $12,467 | 13.9 years |
| 10 kW | $2.73 | $19,110 | $15,965 | 13.6 years |
| 12 kW | $2.68 | $22,473 | $19,617 | 13.3 years |
| 14 kW | $2.62 | $25,684 | $23,422 | 13.1 years |
| 16 kW | $2.57 | $28,741 | $27,379 | 12.8 years |
| 18 kW | $2.51 | $31,646 | $31,490 | 12.5 years |
| 20 kW | $2.46 | $34,398 | $35,753 | 12.3 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Because choosing a company can be a tough decision, we have some tips to help you, such as:
- Contract: Although reading through a contract can take a lot of time, it's important to do it thoroughly so you can be sure you understand how much the equipment and services will cost and the terms of the warranty.
- Installation Process: Get detailed information from your solar company about the installation process and what to expect, such as when the site survey will be done and how long it will take.
- Reputation: Solar panel companies that have great reviews from their customers and that have been in business for many years likely offer high-quality solar panel installation and expertise.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their roof configurations and how much efficiency they need. While there are many options for which type of solar panel you can get, not every company will have the exact one you may want or need, so be sure to take a look at their list of offerings before deciding.
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 Channahon, IL Solar Cost FAQs
How much does it cost to install solar panels in Channahon?
The average cost of solar panels in Channahon 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 stuff like the type of solar panels you want, what size system you need and how much energy you consume.
Are solar panels free in Channahon?
Solar panels aren't free in Channahon, but there are some options that can make getting them more viable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that you can take advantage of.
Can solar panels completely eradicate my power bills?
Solar panels can potentially eliminate your electricity bills depending on where you're located and how much sunlight your home gets. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $701.51 per year.
How long do solar panels last in Channahon?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can replace them after having them for that long or you can keep using them at a lower efficiency.
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.