Solar Panel Cost Guide in Danville, IL (2023 Update)
- Danville Solar Installation Cost: $12,116
- 25-Year Savings: $13,162
- Payback Period: 12.0 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated May 04, 2023
Why you can trust EcoWatch
Average Cost of Solar Panels in Danville
We go over average solar pricing in Danville.
The average cost of solar panels in Danville is 2.73 per watt. To account for the typical energy usage of the average home in Danville, most homeowners require a 6.3-kilowatt system. Using the per-watt figure above, a solar installation costs around $12,116, or $17,326 before the federal solar tax credit of 30% is applied.
These figures are just estimates, and the cost of going solar for you will differ based on your specific situation and what company you choose to go with. But, once you've paid the initial cost of installation, the savings for most homeowners is typically fruitful, with a net average savings of about $15,000 over 20 years on power bills.
For a free 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 | $-11,105 |
| 3 years | $-9,082 |
| 5 years | $-7,060 |
| 7 years | $-5,038 |
| 9 years | $-3,016 |
| 11 years | $-994 |
| 13 years | $1,028 |
| 15 years | $3,051 |
| 17 years | $5,073 |
| 19 years | $7,095 |
| 21 years | $9,117 |
| 23 years | $11,139 |
| 25 years | $13,162 |
Top Solar Installers in Danville
Although it's possible to install solar panels on your own, it takes extra energy and handiness. Because of that, the majority of homeowners choose to hire a solar panel installer. Also, companies with a high reputation that cost more upfront could actually save you money in the long run because of their warranties, repair services and expert design.
If you're searching for a solar company in Danville, we've organized a list of our top suggestions here:
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 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 is determined by several factors. The largest one is your system size, and other factors include equipment choices, financing options and the solar company you choose.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more energy your household consumes, the larger your system will likely need to be. You can expect to spend about $2,730 per kilowatt in Danville. The type of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you opt for the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. However, higher efficiency could save you more in the long run on your power bills. In addition, add-on products, like solar batteries, can bring your total well above the Danville average.
Solar Financing Terms
Most solar installers in Danville provide solar loans, which reduce your upfront costs of installing solar panels. It's a good idea to add the interest you'll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and the amount of time it'll take to pay back 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 Danville, you'll have lots of options to choose from, but each comes at different price points for labor and equipment. Additionally, some companies in Danville have more knowledge about local solar incentives and can help you learn about additional rebates or tax exemptions. Though, they may charge more for walking you through the whole process. Even if they cost more upfront, they could end up saving you more money in the long run.
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 | $11,999 | 12.5 years |
| 8 kW | $2.78 | $15,594 | $16,304 | 12.2 years |
| 10 kW | $2.73 | $19,110 | $20,762 | 12.0 years |
| 12 kW | $2.68 | $22,473 | $25,373 | 11.7 years |
| 14 kW | $2.62 | $25,684 | $30,137 | 11.5 years |
| 16 kW | $2.57 | $28,741 | $35,054 | 11.3 years |
| 18 kW | $2.51 | $31,646 | $40,124 | 11.0 years |
| 20 kW | $2.46 | $34,398 | $45,346 | 10.8 years |
How to Save on Solar Panels
The solar installer you opt for will influence not only your overall costs, but also the types of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are a few important things you should keep in mind, such as:
- Contract: Before signing a contract with a solar installer, make sure to look it over completely so you understand the terms. Also, ask questions if you're not sure about some of the terms, such as what to do if a part breaks or malfunctions and if there are any guarantees about energy production.
- Installation Process: One of the most important things to understand when going solar is the installation process itself. Be sure to align on any details you should know with your solar installer, such as what permits you should secure and how long the project will take.
- Reputation: Make sure your solar installer has a good reputation by confirming it has certifications and licenses, checking its number of years in business and reading reviews by previous customers and solar experts like the EcoWatch team.
- Solar Panel Brands: Each solar panel brand and kind 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
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
EcoWatch's Danville, IL Solar Cost FAQs
What is the average cost of installing solar panels in Danville?
The average cost of solar panels in Danville is about $13,650 for a 5-kW system and $27,300 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 consume.
Is it better to lease or buy solar panels in Danville?
Leasing solar panels can be an option if you are unable to pay upfront or secure a solar loan, but since you don't own the system, you can't take advantage of 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 bang for your buck from going solar.
Is it worth going solar in Danville?
Solar panels can be a great investment for most homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your power bills are already reasonably low, solar panels might not be for you.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy consumption and how much sunlight your roof gets. You can take a look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to get between 20 and 35 panels to cover their typical energy usage.
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.