Solar Panel Cost Guide in Danville, IL (2024 Update)

  • Danville Solar Installation Cost: $16,686
  • 25-Year Savings: $13,162
  • Payback Period: 16.5 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated February 03, 2024

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We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Danville

Find out what the average cost of solar panel installation is in Danville.

The national average cost of solar panels is $2.66 per watt, but in Danville it’s 4 per watt.The average Danville homeowner needs a 6.3-kilowatt system, which would cost about $16,686 with the federal tax credit, or $23,861 before the 0 tax credit is applied.

How much you pay can be higher or lower than the average in Danville depending on a variety of factors, such as the brand of solar panels you choose and the solar company you hire.For most homeowners, the upfront investment in solar power is worth paying. On average homeowners in Danville see about $15,000 in savings on energy bills over 20 years.

For a customized quote from a local solar installer that has been pre-vetted by EcoWatch, click the button below.

Solar savings over time in Danville

Year Return on Investment
1 years $-15,835
3 years $-14,134
5 years $-12,432
7 years $-10,731
9 years $-9,030
11 years $-7,329
13 years $-5,627
15 years $-3,926
17 years $-2,225
19 years $-523
21 years $1,178
23 years $2,879
25 years $4,581

Top Solar Installers in Danville

Installing solar panels by yourself can be a time-consuming undertaking, which is why hiring a solar installer is a good option for many homeowners. Also, companies with an outstanding reputation that cost more upfront could actually save you money in the long run due to their warranties, repair services and expert design.

There are various licensed solar professionals that can take care of your solar installation project. Here are our suggestions:

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Solar Financing

Blue Raven Solar

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries

Best for Leasing

Sunrun

★★★★★
4.0

  • Expansive service area
  • Many financing options
  • Some reported issues with customer service
  • Some reported issues with door-to-door sales

See all of the solar companies in Danville

Factors that Affect Solar Panel Costs in Danville

The cost of installing a solar system in Danville can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The biggest one is your system size, and other factors include the equipment you choose, financing options and the solar company you choose.

Solar Equipment

The cost of solar panel systems varies by thousands of dollars due to some 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 use 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 $3,760.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 come at a higher price than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have limited roof space or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to more savings over time. Plus, if you want extra equipment like an electric vehicle charger or solar batteries, this will also increase the cost.

Solar Financing Terms

Solar panels can save you money on power bills over time, but they can also be a significant investment. That’s why many Danville homeowners decide to finance their solar panel systems to make paying for solar more affordable.However, the interest on solar loans also adds to your total costs, so it’s important to include that in your estimate as well. You can always lower the total you pay in interest and in some cases even your APR by making a larger down payment.

Solar Panel Installation Company

A final factor to keep in mind when trying to estimate the cost of solar for your home or business in Danville is the company you hire to install your solar system. Similar to choosing a company to renovate your kitchen, for example, you’ll have many options for solar installers that provide a range of services at different costs.Some companies only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come with an above-average cost. It’s best to do some research and decide on the company that has the products, warranties and services you want and also fits within your budget.

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 $7,500 17.2 years
8 kW $3.84 $21,477 $10,421 16.8 years
10 kW $3.76 $26,320 $13,552 16.5 years
12 kW $3.68 $30,952 $16,894 16.2 years
14 kW $3.61 $35,374 $20,447 15.8 years
16 kW $3.53 $39,585 $24,210 15.5 years
18 kW $3.46 $43,586 $28,184 15.2 years
20 kW $3.38 $47,376 $32,368 14.9 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. Since selecting a company can be a tough decision, we have some tips to help you, such as:

  • Reputation: Solar panel companies that have great reviews from their customers and that have been in business for many years in most cases provide quality solar panel installation and expertise.
  • Installation Process: When going solar, it’s crucial to keep an open line of communication with your solar installer. Make sure you understand how the installation process will go and the project timeline.
  • Contract: When looking over your solar company’s contract, ask for clarification about any terms you’re not sure of and make sure you understand what happens in scenarios such as a system component breaking or the company going out of business.
  • Solar Panel Brands: Each solar panel brand and kind has varying levels of quality, durability and energy efficiency. They will come at different price points as well. The company you choose plays a role in which solar panel brands you have access to.

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Solar Financing

Blue Raven Solar

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries

Best for Leasing

Sunrun

★★★★★
4.0

  • Expansive service area
  • Many financing options
  • Some reported issues with customer service
  • Some reported issues with door-to-door sales

EcoWatch's Danville, IL Solar Cost FAQs

How much does it cost to install solar panels in Danville?

This is a difficult question to answer exactly, because the cost depends on many factors. Broadly speaking, it costs about $18,800 for a 5-kW system and $37,600 for a 10-kW system after the ITC is applied. It will cost more if you want additional solar equipment or higher quality panels, or if you have above-average energy consumption. Conversely, you can spend less if you go with a smaller solar panel system or less expensive solar panels.

Is it better to lease or buy solar panels in Danville?

Leasing solar panels can be an option if you can’t pay upfront or secure a solar loan, but since you don’t own the system, you don’t have access to many solar incentives. Also your property value won’t increase, so you’ll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most financial benefits from going solar.

Can you sell solar power back to the grid in Danville?

Most states have net metering programs of some kind. Through these, you can either receive compensation for the extra power your system produces or or receive credits to put toward future electricity bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.

How long do solar panels last in Danville?

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 higher 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.

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