Solar Panel Cost Guide in Lebanon, IL (2023 Update)
- Lebanon Solar Installation Cost: $11,617
- 25-Year Savings: $12,928
- Payback Period: 11.8 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Lebanon
Let's take a look at the average cost of solar in Lebanon.
The average cost of a solar system in Lebanon is 2.73 per watt. Using this figure, a typical 6.1-kW system would cost about $11,619 before the 30% federal solar tax credit is applied.
Keep in mind that the figures above are only estimates based on the average Lebanon homeowner. The price of a solar system for your home may be different depending on factors unique to your situation, like your household energy use and solar contractor. With average savings of about $15,000 on utility bills over 20 years, many homeowners in Lebanon find going solar can pay off big.
To calculate your potential ROI and connect with a local solar expert, click the button below.
Solar savings over time in Lebanon
| Year | Return on Investment |
|---|---|
| 1 years | $-10,766 |
| 3 years | $-9,065 |
| 5 years | $-7,364 |
| 7 years | $-5,662 |
| 9 years | $-3,961 |
| 11 years | $-2,260 |
| 13 years | $-558 |
| 15 years | $1,143 |
| 17 years | $2,844 |
| 19 years | $4,546 |
| 21 years | $6,247 |
| 23 years | $7,948 |
| 25 years | $9,649 |
Top Solar Installers in Lebanon
DIY solar panel installation is a choice some homeowners opt for, but it's an undertaking that can be a pain. Hiring a solar panel installer can make swapping over to solar power much easier. The expertise that solar companies provide can be valuable as well, particularly if you aren't sure what kind of solar equipment would be right for your home.
You can work with a local solar installer to get a free quote 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
See all of the solar companies in Lebanon
Factors that Affect Solar Panel Costs in Lebanon
The cost of installing a solar system in Lebanon can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The largest one is the size of the system your home needs, and other factors include equipment choices, financing options and the solar company you choose.
Solar Equipment
The size of the solar panel system you need for your home, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, your total will most likely increase by about $2,730. There are a lot of different solar panel brands and the one you choose also affects the cost. In many cases, the brands that offer higher efficiency tend to also be more expensive. In addition, the type of equipment you're looking to get can affect your total cost. If you just need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Solar panels can save you money on energy bills over time, but they can also be a significant investment. That's why many Lebanon homeowners choose to finance their solar panel systems to make paying for solar more affordable. However, the interest on solar loans also adds to your total costs, so it's important to consider that as well. You can always lower the total you pay in interest and in some cases even your APR by putting more money down.
Solar Panel Installation Company
The solar installer you select will impact your total cost to go solar. Different companies will charge different amounts for the equipment and labor. Additionally, some companies in Lebanon are more knowledgeable about local solar incentives and can help you make good use of additional rebates or tax exemptions. However, they may charge more for that service. Even if they cost more upfront, they could help you save more money in the long run.
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
Since the model of solar panels and the installer you choose has an impact on your costs and your system's durability and efficiency, it's important to pick the right ones for you. Here are some tips 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 project timeline.
- Contract: When reading through your solar installer's contract, ask for clarification about any terms you're not sure of and make sure you understand what happens in scenarios like a system component breaking or if the company goes out of business.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their roof configurations and energy needs. Although there are many options for which model of solar panel you can get, not every company will have access to the exact one you may want or need, so be sure to take a look at their list of offerings before making your decision.
- 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 certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has satisfied reviews from past customers.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Lebanon, IL Solar Cost FAQs
What is the average cost of installing solar panels in Lebanon?
The average cost of solar panels in Lebanon is about $13,650 for a 5-kW system and $27,300 for a 10-kW system before the ITC, but the actual cost will depend on stuff such as the model of solar panels you want, what size system you need and how much energy you use.
Is cost the most important thing to think about when buying solar panels?
Cost is certainly one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
Is making the switch to solar worth it?
Solar panels can be a fruitful investment for a majority of homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your power bills are already fairly low, solar panels might not be for you.
How many solar panels should I get to power my home?
The exact number of solar panels you need depends on your household energy usage and the average daily sunlight your roof gets. You can take a look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to get between 20 and 35 panels to account for their typical energy usage.
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.