Solar Panel Cost Guide in Kankakee, IL (Mar 2023)
- Kankakee Solar Installation Cost: $12,250
- 25-Year Savings: $11,251
- Payback Period: 13.0 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Kankakee
We break down average solar pricing in Kankakee.
The average cost of a solar system in Kankakee is 2.73 per watt. To account for the typical energy needs of the average home in Kankakee, most homeowners require a 6.4-kilowatt system. Using the per-watt figure above, a solar installation costs about $12,250, or $17,518 before the federal solar tax credit of 30% is applied.
Bear in mind that the figures above are only estimates based on the average Kankakee homeowner. The price of a solar system for your home may look different depending on factors unique to your situation, like your household energy use and solar contractor. 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 $14,000 over 20 years on utility bills.
Click the button below to get connected to a reputable solar panel company in Kankakee for a personalized estimate.
Solar savings over time in Kankakee
| Year | Return on Investment |
|---|---|
| 1 years | $-11,309 |
| 3 years | $-9,429 |
| 5 years | $-7,549 |
| 7 years | $-5,669 |
| 9 years | $-3,789 |
| 11 years | $-1,909 |
| 13 years | $-29 |
| 15 years | $1,851 |
| 17 years | $3,731 |
| 19 years | $5,611 |
| 21 years | $7,491 |
| 23 years | $9,371 |
| 25 years | $11,251 |
Top Solar Installers in Kankakee
DIY solar panel installation is a way to cut costs, but it's an undertaking that can be a headache. Hiring a solar panel installer can make swapping over to solar power much easier. Also, companies with a high reputation that are more expensive upfront could actually save you money in the long term due to their warranties, repair services and expert design.
You can work with a local solar installer to get a free estimate on how much your investment in solar could cost for your home. Here are some nearby:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
See all of the solar companies in Kankakee
Factors that Affect Solar Panel Costs in Kankakee
The cost of installing a solar system in Kankakee can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The largest one is the size of the system your household needs, and other factors include the equipment you choose, financing options and the solar company you choose.
Solar Equipment
When it comes to estimating the price of solar panels in Kankakee, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are primarily based on your home's energy usage, which you can figure out by looking at past power bills. Your total cost can increase by around $2,730 for each additional kilowatt you need. The solar equipment you choose can increase or decrease your cost 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 energy bills. In addition, extra products, like solar batteries, can bump up your total well above the Kankakee average.
Solar Financing Terms
If paying for solar panels in cash is out of reach, solar loans are an affordable route because they cut back your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years. When considering 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
Finally, the company you get to install your solar panel system can impact how much it costs. Kankakee's solar companies all have different labor costs and add varying upcharges to equipment. You may see national solar installers that have lower prices because of their bigger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or specials to compete with those major players.
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 | $10,078 | 13.5 years |
| 8 kW | $2.78 | $15,594 | $13,743 | 13.3 years |
| 10 kW | $2.73 | $19,110 | $17,561 | 13.0 years |
| 12 kW | $2.68 | $22,473 | $21,532 | 12.8 years |
| 14 kW | $2.62 | $25,684 | $25,656 | 12.5 years |
| 16 kW | $2.57 | $28,741 | $29,933 | 12.2 years |
| 18 kW | $2.51 | $31,646 | $34,362 | 12.0 years |
| 20 kW | $2.46 | $34,398 | $38,945 | 11.7 years |
How to Save on Solar Panels
The solar panel company you opt for will impact 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 some important things you should take into account, such as:
- Warranty: If you care about the longevity of your solar energy system, checking if your installer offers a 25-year, all-inclusive warranty can help put you at ease.
- Contract: Look through the contract terms closely to make sure you understand the total cost, completion timeline rebates and warranties.
- Solar Panel Brands: Different companies will offer various brands and types of panels. If you know you want a specific brand, make sure the solar installer you're considering has it.
- Reputation: Solar panel companies that have great reviews from their customers and that have been in business for many years in most cases offer high-quality solar panel installation and expertise.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
EcoWatch's Kankakee, IL Solar Cost FAQs
How much does it cost to install solar panels in Kankakee?
This is a hard question to answer exactly, because the cost depends on a few different factors. Broadly speaking, it costs about $13,650 for a 5-kW system and $27,300 for a 10-kW system after the ITC is applied. It will cost more if you want other solar equipment or more efficient panels, or if you have higher-than-average energy needs. On the flip side, you can spend less if you go with a smaller solar panel system or cheaper solar panels.
Is it better to lease or buy solar panels in Kankakee?
Leasing solar panels can be an appealing 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 option if you want to maximize your savings.
Is it worth going solar in Kankakee?
Whether or not solar panels are worth it depends on a variety of factors like the cost of electricity near you and how much direct sunlight your roof gets.
How often do you have to replace solar panels?
Even though 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 their energy production 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.