Solar Panel Cost Guide in Mackinaw, IL (2024 Update)
- Mackinaw Solar Installation Cost: $16,749
- 25-Year Savings: $10,773
- Payback Period: 18.3 Years
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Average Cost of Solar Panels in Mackinaw
We go over average solar pricing in Mackinaw.
The average cost of a solar panel system in Mackinaw is 4 per watt.To account for the typical energy usage of the average home in Mackinaw, most homeowners require a 6.4-kilowatt system. Using the figure above, a solar installation costs around $16,749, or $23,951 before the federal solar tax credit of 0 is applied.
Remember that the numbers above are only averages. The price you’ll end up paying for solar will differ based on your household energy needs, the type of equipment you choose, your solar contractor and more.Many homeowners find adopting solar power is a solid investment. The average homeowner in Mackinaw can save around $14,000 on their electricity bills over 20 years.
You can click the button below to get connected with a pre-vetted solar installer in Mackinaw for a quote for your home.
Solar savings over time in Mackinaw
| Year | Return on Investment |
|---|---|
| 1 years | $-15,898 |
| 3 years | $-14,197 |
| 5 years | $-12,496 |
| 7 years | $-10,795 |
| 9 years | $-9,093 |
| 11 years | $-7,392 |
| 13 years | $-5,691 |
| 15 years | $-3,989 |
| 17 years | $-2,288 |
| 19 years | $-587 |
| 21 years | $1,115 |
| 23 years | $2,816 |
| 25 years | $4,517 |
Top Solar Installers in Mackinaw
Although you can install solar panels on your own, it involves extra effort and know-how. For that reason, almost all homeowners choose to go with a solar panel installer. Solar warranties and repairs are ordinarily included in the cost of installation when you opt for a solar company too, which can save you more money after your upfront investment.
If you're on the hunt for a solar installer in Mackinaw, the EcoWatch team has compiled a list of our top suggestions here:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
Best Technology
Tesla Energy
- 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 Mackinaw
Factors that Affect Solar Panel Costs in Mackinaw
Cost is typically one of the most important factors for homeowners who are considering investing in solar. There are a few primary factors that affect your total cost in Mackinaw: solar equipment and system size, financing options and the solar installation company you choose. We’ll go over each of these briefly below.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to some different factors. One of the main factors is the system size, which is measured in kilowatts (kW). Solar power systems with higher efficiency or power generation use 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.There are many different solar panel brands and the one you choose also changes the cost. Typically, the brands that are more efficient tend to also be more expensive. In addition, the type of equipment you choose 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
Most solar installers in Mackinaw have solar loans, which reduce your upfront costs of installing a solar system.When figuring out your overall cost, you should also calculate the interest you’ll pay if you decide on a solar loan. Also, paying a higher down payment can lower the total interest paid over time.
Solar Panel Installation Company
The solar installer you opt for to handle your switch to sustainable energy can play a role in your total costs. There are about 3 solar installation companies in Mackinaw, and each can charge different amounts for labor and equipment.The company’s size can sometimes play the most significant role in your total costs. Larger national companies, like SunPro and Sunrun, often have lower prices because of greater resources and bulk pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or promotion can bring their pricing lower to compete with bigger names.
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 | $5,199 | 19.0 years |
| 8 kW | $3.84 | $21,477 | $7,353 | 18.6 years |
| 10 kW | $3.76 | $26,320 | $9,718 | 18.3 years |
| 12 kW | $3.68 | $30,952 | $12,294 | 17.9 years |
| 14 kW | $3.61 | $35,374 | $15,080 | 17.5 years |
| 16 kW | $3.53 | $39,585 | $18,076 | 17.2 years |
| 18 kW | $3.46 | $43,586 | $21,283 | 16.8 years |
| 20 kW | $3.38 | $47,376 | $24,701 | 16.4 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 brands and price points. To help you pick the right company for you, here are some tips to keep in mind:
- Solar Panel Brands: The model of solar panel you need to get plays a part in which company you should go with, since different companies have different panels.
- Reputation: Well-established companies likely have a solid reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide quality aftercare and customer service, such as part repairs and replacements.
- Installation Process: Homeowners should understand how exactly the installation process will go, as well as important factors like the project completion timeline.
- Contract: Before signing a contract with a solar installer, 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 to do if a part 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
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
Best Technology
Tesla Energy
- 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 Mackinaw, IL Solar Cost FAQs
How much does it cost to install solar panels in Mackinaw?
The average cost of solar panels in Mackinaw is about $18,800 for a 5-kW system and $37,600 for a 10-kW system before the ITC, but the actual cost will depend on certain factors like the type of solar panels you want, what size system you need and how much energy you consume.
Is cost the most important thing to consider when buying solar panels?
The upfront cost is a crucial factor to consider, but whether it’s the most important for you depends on your reasons for going solar. In places where rooftop space is limited, efficiency can trump the cost. Other factors that are important to take into account are the quality and durability of your solar panels.
Can solar panels significantly reduce my power bills?
Solar panels can potentially eliminate your electricity bills depending on where you’re located and the efficiency of your system. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $720.77 per year.
How many solar panels do I need to power my home?
The exact number of solar panels you need depends on your household energy consumption 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 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.