Solar Panel Cost Guide in Machesney Park, IL (2023 Update)

  • Machesney Park Solar Installation Cost: $12,460
  • 25-Year Savings: $12,460
  • Payback Period: 12.5 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated March 14, 2023

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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 Machesney Park

We go over average solar pricing in Machesney Park.

The average cost of a solar panel system in Machesney Park is 2.73 per watt. The average solar panel system size in Machesney Park is around 6.5 kilowatts, meaning a cost of about $12,460 for a solar installation, or $17,818 before the 30% federal solar tax credit is applied.

The prices above are just estimates to give you an idea of the cost of solar panels. The exact cost of going solar can vary quite a bit depending on a few factors, such as how many panels you need, your energy consumption and what company you go with. But, once you've paid the initial cost of installation, the ROI for most homeowners is typically rewarding, with a net average savings of about $15,000 over 20 years on energy bills.

For a free quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.

Solar savings over time in Machesney Park

Year Return on Investment
1 years $-11,463
3 years $-9,469
5 years $-7,476
7 years $-5,482
9 years $-3,489
11 years $-1,495
13 years $499
15 years $2,492
17 years $4,486
19 years $6,479
21 years $8,473
23 years $10,467
25 years $12,460

Top Solar Installers in Machesney Park

Many homeowners opt for a solar panel company since trying to put up solar panels on your own can be a labor-intensive endeavor. A solar installer can also help save you money over time by offering warranties, repairs and system component replacements.

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 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 (coming 2022)

Best Technology

Tesla Energy

★★★★★
4.5

  • 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 Machesney Park

Factors that Affect Solar Panel Costs in Machesney Park

Cost is typically one of the most important factors for homeowners wanting to invest in solar. There are a few primary factors that affect your total cost in Machesney Park: solar equipment and system size, financing options and the solar installation company you choose. We'll cover each of these briefly below.

Solar Equipment

When it comes to estimating the price of solar panels in Machesney Park, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home's energy consumption, which you can determine by looking at past power bills. Your total cost can increase by around $2,730 for each additional kilowatt you need. There are many different solar panel brands and the one you pick also affects the cost. In many cases, the brands that offer higher efficiency tend to also cost more. Additionally, the type of equipment you choose can affect your total cost. If you only need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.

Solar Financing Terms

If paying for solar panels out of pocket is difficult, solar loans are a popular choice because they reduce your upfront costs and let you pay for your system over five to seven years on average. However, the interest on solar loans also increases your total costs, so it's important to include that in your estimate as well. You can always lower the total you pay in interest and in some cases even your APR by making a larger down payment.

Solar Panel Installation Company

The last significant cost factor you should consider is the installer you choose. Given the booming popularity of green energy solutions in Machesney Park, you'll have lots of options to choose from, but each comes at different price points for labor and equipment. Additionally, some companies in Machesney Park have more knowledge about local solar incentives and can help you learn about additional rebates or tax exemptions. However, they may charge more for that service. Even if they cost more upfront, they could end up saving you 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 $11,000 13.0 years
8 kW $2.78 $15,594 $14,972 12.8 years
10 kW $2.73 $19,110 $19,097 12.5 years
12 kW $2.68 $22,473 $23,375 12.3 years
14 kW $2.62 $25,684 $27,806 12.0 years
16 kW $2.57 $28,741 $32,390 11.8 years
18 kW $2.51 $31,646 $37,126 11.5 years
20 kW $2.46 $34,398 $42,016 11.3 years

How to Save on Solar Panels

The solar panel company you go with will influence 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 several important things you should keep in mind, such as:

  • Reputation: Your solar installer should have a sound reputation as a company and have verifiable expertise in the field. A couple of ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has good reviews from past customers.
  • Contract: It's important to read through your solar installer's contract carefully to understand what services they will provide, what the warranty covers and what expectations you should have about the installation process.
  • Solar Panel Brands: Different companies will carry various brands and types of panels. If you prefer a specific brand, make sure the solar installer you're considering has it.
  • Warranty: A high-quality company rises above other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.

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 (coming 2022)

Best Technology

Tesla Energy

★★★★★
4.5

  • 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 Machesney Park, IL Solar Cost FAQs

How much does it cost to install solar panels in Machesney Park?

The average cost of solar panels in Machesney Park 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 like the type of solar panels you want, what size system you need and how much energy you use.

Is it better to lease or buy solar panels in Machesney Park?

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 maximize your savings.

Is it worth going solar in Machesney Park?

Whether or not solar panels are worth it depends on some different factors like local electricity rates and the amount of direct sunlight your roof gets.

How many solar panels should I get to power my home?

To figure out how many solar panels you need, you should find out how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can generally produce about 250 to 400 watt-hours per hour, the average household will need 20 to 35 panels.

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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