Solar Panel Cost Guide in Lebanon, IL (2024 Update)

  • Lebanon Solar Installation Cost: $16,000
  • 25-Year Savings: $12,928
  • Payback Period: 16.3 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated February 03, 2024

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We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Lebanon

See how much it might cost to install solar panels in Lebanon.

In Lebanon, solar panels cost about 4 per watt on average.The average Lebanon homeowner needs a 6.1-kilowatt system, which would cost about $16,000 with the federal tax credit, or $22,880 before the 0 tax credit is applied.

Remember that the numbers above are only averages. The price you’ll end up paying for solar may vary based on your household energy consumption, the type of solar panels you choose, your solar contractor and more.Many homeowners find installing a solar system is a solid investment. The average homeowner in Lebanon can save around $15,000 on their power bills over 20 years.

To calculate your potential ROI and connect with a local solar company, click the button below.

Solar savings over time in Lebanon

Year Return on Investment
1 years $-15,149
3 years $-13,448
5 years $-11,746
7 years $-10,045
9 years $-8,344
11 years $-6,643
13 years $-4,941
15 years $-3,240
17 years $-1,539
19 years $163
21 years $1,864
23 years $3,565
25 years $5,267

Top Solar Installers in Lebanon

Many homeowners opt for a solar panel company since trying to put up solar panels by yourself can be time-consuming. Plus, warranties and repairs from your solar panel installer can protect your investment and lower the cost of maintenance in the long run.

Working with a vetted solar company can help your solar project go smoothly. Here are our recommendations:

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries

Best for Leasing

Sunrun

★★★★★
4.0

  • 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 Lebanon

Factors that Affect Solar Panel Costs in Lebanon

For many Lebanon homeowners, the decision to install solar panels comes down to cost. However, the range of solar installation costs can be quite wide in Lebanon, with typical prices between $20,000 to $40,000. There are several factors that considerably influence the price you’ll pay, which we'll go over below.

Solar Equipment

The cost of solar panel systems varies by thousands of dollars due to a few different factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems that have greater efficiency or power production need 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.The model of solar panels and equipment you choose is another factor that will significantly affect costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to be more costly. Plus, solar equipment is more than just the solar panels themselves. You’ll also need to think 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 looking for a solar system that’s in your budget.

Solar Financing Terms

Solar panels can save you money on power bills over time, but they can also be a significant investment. That’s why many Lebanon homeowners opt to finance their solar panel systems to offset upfront costs.Although solar loans make going solar more accessible for Lebanon homeowners, they can also add to the total you pay for your system, depending on your interest rate. If you put down a larger down payment, though, you can cut back on how much interest you have to pay.

Solar Panel Installation Company

A final consideration when trying to evaluate the cost of solar for your home or business in Lebanon is the company you hire to install your solar system. Similar to choosing a company to build a deck or pool, for instance, there are plenty of solar installers that offer a range of services for different budgets.Larger national companies usually have lower costs, but some local companies keep up with them by promoting sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or extra services like electric vehicle 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 $7,802 16.9 years
8 kW $3.84 $21,477 $10,824 16.6 years
10 kW $3.76 $26,320 $14,057 16.3 years
12 kW $3.68 $30,952 $17,500 16.0 years
14 kW $3.61 $35,374 $21,154 15.6 years
16 kW $3.53 $39,585 $25,018 15.3 years
18 kW $3.46 $43,586 $29,092 15.0 years
20 kW $3.38 $47,376 $33,378 14.7 years

How to Save on Solar Panels

The solar company you go with will be a major factor in determining not only your overall costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are some important things you should take into account, including:

  • Contract: Before you sign a contract with a solar company, be sure to read it through carefully so you understand the terms. Also, ask questions if you’re unsure about some of the terms, such as what the warranty covers and if there are any guarantees about energy production.
  • Warranty: If you’re concerned about the durability of your solar energy system, verifying that your company offers a 25-year, all-inclusive warranty can help put you at ease.
  • Reputation: Companies that have been operating for many years likely have a high reputation. This is important because it ensures that it will not only see your solar project through, but will also provide quality aftercare and customer service, such as part repairs and replacements.
  • Installation Process: When making the switch to solar energy, it’s crucial to keep an open line of communication with your solar panel installer. Confirm that you understand how the installation process will go and the project timeline.

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries

Best for Leasing

Sunrun

★★★★★
4.0

  • Expansive service area
  • Many financing options
  • Some reported issues with customer service
  • Some reported issues with door-to-door sales

EcoWatch's Lebanon, IL Solar Cost FAQs

How much does it cost to install solar panels in Lebanon?

The average cost of solar panels in Lebanon is about $18,800 for a 5-kW system and $37,600 for a 10-kW system before the ITC, but the real cost will depend on things like the type of solar panels you want, what size system you need and how much energy you consume.

Is cost the most important consideration when buying solar panels?

Cost is a crucial factor to consider, but whether it’s the most important for you depends on why you decided to go solar. In cities where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to be mindful of are the quality and durability of your solar panels.

Does Lebanon have a net metering program?

Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just give you credit toward your future electricity bills.

How long do solar panels last in Lebanon?

On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger 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.

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