Solar Panel Cost Guide in Logan, IL (2023 Update)
- Logan Solar Installation Cost: $12,197
- 25-Year Savings: $7,634
- Payback Period: 15.4 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Logan
We go over average solar pricing in Logan.
In Logan, solar panels cost about 2.73 per watt on average. The average Logan homeowner needs a 6.4-kilowatt system, which would cost about $12,192 with the federal tax credit, or $17,435 before the 30% tax credit is applied.
The prices above are just estimates to give you an idea of how much a solar panel system could cost. The true cost of installing solar panels can vary quite a bit depending on several factors, such as how many panels you need, your energy usage and what company you go with. For many homeowners, the upfront cost of solar power is worth paying. On average homeowners in Logan see about $12,000 in savings on energy bills over 20 years.
To get a free estimate from a vetted solar installation company in Logan, you can click the button below.
Solar savings over time in Logan
| Year | Return on Investment |
|---|---|
| 1 years | $-11,346 |
| 3 years | $-9,645 |
| 5 years | $-7,943 |
| 7 years | $-6,242 |
| 9 years | $-4,541 |
| 11 years | $-2,839 |
| 13 years | $-1,138 |
| 15 years | $563 |
| 17 years | $2,264 |
| 19 years | $3,966 |
| 21 years | $5,667 |
| 23 years | $7,368 |
| 25 years | $9,070 |
Top Solar Installers in Logan
When going solar, many homeowners prefer to use a solar installer since DIY solar panel installation can be a difficult project. Plus, if you're not certain what type of solar panels and equipment you need, a solar installer can help you figure that out after a site survey and consultation.
If you'd like to make the switch to solar but still aren't certain which solar company to go with, here are our recommendations for providers in Logan:
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 Logan
Factors that Affect Solar Panel Costs in Logan
Though the average cost of a solar system in Logan is $12,192, your actual cost may be higher or lower than that. There are several factors that can have a sizable impact on the cost of a solar panel installation. Below are some of the more crucial things to keep in mind.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a variety of factors. One of the major factors is the system size, which is measured in kilowatts (kW). Solar power systems that have better efficiency or power production require 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 $2,730. The brand and kind 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 are often more expensive than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have limited roof space or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to greater savings over time. Plus, if you want additional equipment 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 significant investment. That's why many Logan homeowners choose to finance their solar panel systems to offset upfront costs. It's a good idea to include the interest you'll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and the amount of time it'll take to pay off the loan.
Solar Panel Installation Company
A final consideration when trying to estimate the cost of solar for your home or business in Logan is the company you get to install your solar system. As with choosing a company to renovate your kitchen, for instance, there are plenty of solar installers that provide a range of services at different costs. You may notice national solar installers that have lower prices due to their bigger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or promotions to compete with those larger companies.
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 | $6,718 | 16.0 years |
| 8 kW | $2.78 | $15,594 | $9,263 | 15.7 years |
| 10 kW | $2.73 | $19,110 | $11,961 | 15.4 years |
| 12 kW | $2.68 | $22,473 | $14,811 | 15.1 years |
| 14 kW | $2.62 | $25,684 | $17,815 | 14.8 years |
| 16 kW | $2.57 | $28,741 | $20,972 | 14.5 years |
| 18 kW | $2.51 | $31,646 | $24,281 | 14.1 years |
| 20 kW | $2.46 | $34,398 | $27,743 | 13.8 years |
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because picking a company can be a tough decision, we have some tips to help you, such as:
- Reputation: Solar panel companies that have great reviews from their customers and that have been in business for many years likely offer good-quality solar panel installation and expertise.
- Installation Process: Get detailed information from your solar installer about the installation process and what to expect, including when the site survey will be done and how long it will take.
- Solar Panel Brands: Each solar panel brand and model offers varying levels of quality, durability and energy efficiency. They will come at different costs as well. The company you choose has an impact on which solar panel brands you have access to.
- Contract: Before you sign a contract with a solar installer, make sure you look it over carefully so you understand the terms. Also, ask questions if you're not sure about some of the terms, such as what to do if a component breaks or malfunctions and what services you can expect from them.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Logan, IL Solar Cost FAQs
What is the average cost of installing solar panels in Logan?
The average cost of solar panels in Logan is about $13,650 for a 5-kW system and $27,300 for a 10-kW system before the ITC, but the real cost will depend on things such as the kind of solar panels you want, what size system you need and how much energy you consume.
Is it better to lease or buy solar panels in Logan?
Leasing solar panels can be an appealing choice, because it usually comes with low or $0 upfront payments. The drawback 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 get the most savings.
How will installing solar panels impact my property value?
Solar panels can increase the value of your home remarkably as long as you buy or finance your panels and don't opt for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% with a solar installation."
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 amount of sunlight your roof gets. You can 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 buy between 20 and 35 panels to cover 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.