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
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Average Cost of Solar Panels in Danville
Find out what the average cost of solar panel installation is in Danville.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Danville, the typical cost of a solar system is 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.
Bear in mind that the figures above are only estimates based on the average Danville homeowner. The cost of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor.With average savings of about $15,000 on energy bills over 20 years, many homeowners in Danville find investing in solar has a decent ROI.
To receive a free quote from a highly rated solar company in Danville, you can 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
Putting up solar panels on your own can be a stressful project, which is why using a solar installer is a good option for many homeowners. A solar company can also help save you money over time by offering warranties, repairs and system component replacements.
If you’d like to make the switch to solar but still aren’t certain which solar panel company to go with, here are our suggestions for providers near you:
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
See all of the solar companies in Danville
Factors that Affect Solar Panel Costs in Danville
Cost is usually one of the most important factors for homeowners wanting to invest in solar. There are a few key factors that will push your cost above or below the average in Danville: solar equipment and system size, financing options and the solar installation company you choose. We’ll discuss each of these briefly below.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to some different factors. One of the notable factors is the system size, which is measured in kilowatts (kW). Solar power systems with higher efficiency or power production use better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $3,760.There are a lot of different solar panel brands and the one you pick also affects the cost. In many cases, the brands that are more efficient tend to also be more expensive. In addition, the type of equipment you choose can affect your total cost. If you only need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be challenging. Solar loans are offered by most installers in Danville, which can lower, or in some cases eliminate, your upfront costs to make solar more accessible.It’s a good idea to include 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 the amount of time it’ll take to pay back the loan.
Solar Panel Installation Company
The solar installer you go with to handle your switch to renewable energy can have an effect on your total costs. There are about 3 solar panel companies operating in Danville, and each can charge different amounts for labor and equipment.The company’s size can sometimes play the most considerable role in your costs. Larger national companies, like SunPro and Sunrun, often have lower prices because of access to more resources and bulk pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or promotion can bring their pricing lower to compete with bigger companies.
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
Since the model of solar panels and the company you choose has an impact on your costs and your system’s efficiency, production, and durability, it’s important to pick the right ones for you. Here are some things to keep in mind to help with your decision:
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a good reputation and is qualified to install your solar system. Another way you can research your installer’s reputation is by reading reviews.
- Installation Process: Get detailed information from your solar installer about the installation process and what to expect, including when the site survey will be completed and what the project timeline is.
- Contract: When reading over your solar installer’s contract, ask for clarification about any terms you’re not sure of and be sure you understand what happens in scenarios like a system component breaking or the company going out of business.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their roof configurations and how much efficiency they need. Although there are many options for which brand of solar panel you can get, not every company will have access to the exact one you may want or need, so make sure you 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
Best for Leasing
Sunrun
- 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
What is the average cost of installing solar panels in Danville?
The average cost of solar panels in Danville is about $18,800 for a 5-kW system and $37,600 for a 10-kW system before the ITC, but the actual cost will depend on certain factors like the kind of solar panels you want, what size system you need and how much energy you use.
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 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.
Does Danville have a net metering program?
Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just offer you credit toward your future energy bills.
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 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.