Solar Panel Cost Guide in Decatur, IL (2024 Update)
- Decatur Solar Installation Cost: $16,565
- 25-Year Savings: $14,884
- Payback Period: 15.4 Years
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Updated February 03, 2024
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Average Cost of Solar Panels in Decatur
We go over average solar pricing in Decatur.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Decatur, the typical cost of solar panels is 4 per watt.Using this figure, a typical 6.3-kW system would cost about $16,565 before the 0 federal solar tax credit is applied.
The prices above are just estimates to give you an idea of how much a solar energy system could cost. The actual cost of installing solar panels can vary quite a bit based on several factors, such as how many panels you need, your energy consumption and what solar installer you go with.Despite the significant upfront cost, the average Decatur homeowner can save around $16,000 on their energy bills over 20 years, which is one of the benefits of solar.
To receive a free estimate from a vetted solar installation company in Decatur, you can click the button below.
Solar savings over time in Decatur
Year | Return on Investment |
---|---|
1 years | $-15,715 |
3 years | $-14,013 |
5 years | $-12,312 |
7 years | $-10,611 |
9 years | $-8,910 |
11 years | $-7,208 |
13 years | $-5,507 |
15 years | $-3,806 |
17 years | $-2,104 |
19 years | $-403 |
21 years | $1,298 |
23 years | $2,999 |
25 years | $4,701 |
Top Solar Installers in Decatur
DIY solar panel installation is a way to cut costs, but it's an undertaking that can take a lot of hard work. Using a solar panel installer can make swapping over to solar power much easier. Solar warranties and repairs are ordinarily included in the cost of installation when you go with a solar contractor too, which can save you more money over time.
If you’d like to go solar but still aren’t certain which solar company to go with, here are our suggestions for providers near you:
Best National Provider
SunPower
- 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
- 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 Decatur
Factors that Affect Solar Panel Costs in Decatur
Although the average cost of a solar system in Decatur is $16,565, your final cost may be higher or lower than that. There are several factors that can have a significant impact on the cost of a solar system installation. Below are some of the more crucial things to consider.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household consumes, the larger your system will likely need to be. You can expect to pay around $3,760 per kilowatt in Decatur.The model of solar panels and equipment you want is another factor that will substantially affect costs. Solar panels that are more efficient, like monocrystalline panels, tend to cost more. Plus, solar equipment is more than just the solar panels themselves. You’ll also need to make decisions about the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when searching for a solar system that falls within your budget.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be challenging. Solar loans are provided by most installers in Decatur, which can bring down, or in some cases eliminate, your upfront costs to make solar more accessible.When trying to figure out your overall cost, you should also calculate the interest you’ll pay if you decide on a solar loan. Also, paying a higher down payment can reduce the total interest paid over time.
Solar Panel Installation Company
The solar panel installer you select will affect your total cost to go solar. Different companies will bill different amounts for the equipment and labor.Larger national companies typically have lower costs, but some local companies compete with them by offering sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or extra 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 | $3.91 | $16,424 | $9,231 | 16.0 years |
8 kW | $3.84 | $21,477 | $12,729 | 15.7 years |
10 kW | $3.76 | $26,320 | $16,438 | 15.4 years |
12 kW | $3.68 | $30,952 | $20,357 | 15.1 years |
14 kW | $3.61 | $35,374 | $24,487 | 14.8 years |
16 kW | $3.53 | $39,585 | $28,827 | 14.5 years |
18 kW | $3.46 | $43,586 | $33,378 | 14.2 years |
20 kW | $3.38 | $47,376 | $38,139 | 13.9 years |
How to Save on Solar Panels
The solar panel company you choose will affect 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 several important things you should consider, including:
- Installation Process: Make sure you’re on the same page with the installer 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.
- Reputation: Make sure your solar system installer has a good reputation by verifying it has certifications and licenses, checking how long it's been in business and reading reviews by previous customers and solar experts like EcoWatch.
- Warranty: A quality company rises above other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Contract: Even though reading through a contract can be tedious, it’s important to do it thoroughly so you can make sure you understand what services your solar company will provide and the terms of the warranty.
Best National Provider
SunPower
- 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
- 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 Decatur, IL Solar Cost FAQs
What is the average cost of installing solar panels in Decatur?
The average cost of solar panels in Decatur 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 consume.
Is it better to lease or buy solar panels in Decatur?
Leasing solar panels can be an attractive choice, as it usually 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 incentives and your home value won’t increase. Buying solar panels is a better way to go if you want to maximize your savings.
How much can I save on electricity bills after installing solar panels?
Solar panels can potentially eliminate your electricity bills depending on your location and the efficiency of your system. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $855.15 per year.
How long do solar panels last in Decatur?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can opt to 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.