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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Average Cost of Solar Panels in Decatur
We go over average solar pricing in Decatur.
The national average cost of solar panels is $2.66 per watt, but in Decatur it’s 4 per watt.The average Decatur homeowner needs a 6.3-kilowatt system, which would cost about $16,565 with the federal tax credit, or $23,688 before the 0 tax credit is applied.
These figures are only averages, and your own solar costs may look different based on your specific situation and what company you go with.But, once you've paid the initial cost of installation, the return on investment for most homeowners is quite rewarding, with a net average savings of about $16,000 over 20 years on power bills.
You can click the button below to get connected with a vetted solar company in Decatur for a quote for your home.
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. Going with a solar company can make converting to solar power much easier. Solar warranties and repairs are ordinarily included in the cost of installation when you hire a solar contractor too, which can save you more money after your upfront investment.
There are various licensed solar professionals that can install solar panels for you. Here are our suggestions:
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
While the average cost of a solar system in Decatur is $16,565, your actual cost may be above or below the average. There are quite a few factors that can have a sizable impact on the cost of a residential solar panel installation. Below are some of the more important things to consider.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to some different factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems with 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 type of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you choose the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. However, more efficient panels could save you more over time on your power bills. In addition, extra products, like solar batteries, can bump up your total well above the Decatur average.
Solar Financing Terms
If paying for solar panels out of pocket is out of reach, solar loans are an affordable option because they lower your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years.However, the interest on solar loans also increases your overall costs, so it’s vital to consider that as well. You can always reduce the total you pay in interest and possibly even your APR by making a larger down payment.
Solar Panel Installation Company
The last key cost factor you should take into consideration is the installer you choose. Given the booming popularity of renewable energy solutions in Decatur, you’ll have lots of options to choose from, but each comes at various price points for labor and equipment.Companies that only sell high-efficiency and high-priced products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come at a higher cost. It’s best to do some research and choose a company that offers the products, warranties and services you’re looking for and also fit into 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 | $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
Since the kind of solar panels and the company you choose significantly affects your costs and your system’s efficiency, production, and durability, it’s important to select the right ones for you. Here are some things to keep in mind to help with your decision:
- Installation Process: Homeowners should make sure they know how exactly the installation process will be carried out, as well as important factors like the completion timeline.
- Reputation: Your solar installer should have a sound reputation as a company and have proven expertise in the field. A couple of ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from previous customers.
- Warranty: If you’re worried about the durability of your solar panel system, making sure your installer offers a 25-year, all-inclusive warranty can help put you at ease.
- Contract: It’s important to look over your solar installer’s contract fully to understand what services they will provide, what the warranty covers and what you can expect about the project timeline.
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?
This is a tough question to answer precisely, because the cost depends on many factors. Generally 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 other solar equipment or higher quality panels, or if you have above-average energy consumption. On the other hand, you can spend less if you choose a smaller solar panel system or less expensive solar panels.
Is it better to lease or buy solar panels in Decatur?
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 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 bang for your buck from going solar.
How much can I save on electricity bills after installing solar panels?
It is possible to eliminate your electricity bills with solar panels, but for most homeowners in Decatur, that will require at least a 10-kW system. Not all homes will have the roof space for that size system, so you’ll want to check with a local solar installer to see how many panels can fit on your roof.
How long do solar panels last in Decatur?
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 how much energy they produce will have decreased significantly after that point. You can decide to replace them after having them for that long or you can continue to use 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.