Solar Panel Cost Guide in Lebanon, IL (Feb 2023)
- Lebanon Solar Installation Cost: $11,619
- 25-Year Savings: $12,926
- Payback Period: 11.8 Years
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Top Solar Installers in Lebanon
When going solar, many homeowners choose to hire a solar installation company since putting up a solar system yourself can be a challenging project. Also, companies with a high reputation that are more expensive upfront could actually save you money in the long term with their warranties, repair services and expert design.
You can work with a local solar installer to get a free quote on how much solar panels could cost for your home. Here are some near you:
See all of the solar companies in Lebanon
Factors that Affect Solar Panel Costs in Lebanon
There are many criteria that can play into your solar panel installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that does the installation.
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 uses, the larger your system will likely need to be. You can expect to pay around $2,730 per kilowatt in Lebanon. The brand and type of equipment you get for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often come at a higher price than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have a small roof or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to greater savings over time. Plus, if you want add-ons like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
Solar panels can save you money on utility bills over many years, but they can also be a big investment. That's why many Lebanon homeowners opt to finance their solar panel systems to make paying for solar more affordable. When figuring out your overall cost, you should also calculate the interest you'll pay if you opt for a solar loan. Also, paying more on your down payment can reduce the total interest paid over time.
Solar Panel Installation Company
The solar company you hire to handle your switch to clean energy can play a role in your total costs. There are about 3 solar installation companies in Lebanon, and each can charge varying amounts for labor and equipment. Larger national companies generally have lower costs, but some local companies keep up with them by offering 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||$2.84||$11,925||$12,301||12.3 years|
|8 kW||$2.78||$15,594||$16,708||12.1 years|
|10 kW||$2.73||$19,110||$21,267||11.8 years|
|12 kW||$2.68||$22,473||$25,979||11.6 years|
|14 kW||$2.62||$25,684||$30,844||11.4 years|
|16 kW||$2.57||$28,741||$35,862||11.1 years|
|18 kW||$2.51||$31,646||$41,032||10.9 years|
|20 kW||$2.46||$34,398||$46,356||10.6 years|
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you select the right company for you, here are some tips to keep in mind:
- Reputation: Solar panel companies that have great reviews from their customers and that have been in business for many years in most cases provide quality solar panel installation and expertise.
- Installation Process: When making the switch to solar energy, it's crucial to maintain an open line of communication with your solar panel company. Make sure you understand how the installation process will go and the project timeline.
- Solar Panel Brands: The model of solar panel you'd like plays a role in which installer you should go with, since different companies have different panels.
- Contract: Before signing a contract with a solar company, make sure to look it over fully so you understand the terms. Also, ask questions if you're not certain about some of the terms, such as what the warranty covers and what services you can expect from them.
EcoWatch's Lebanon, IL Solar Cost FAQs
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.