Solar Panel Cost Guide in Mackinaw, IL (2023 Update)
- Mackinaw Solar Installation Cost: $12,154
- 25-Year Savings: $10,780
- Payback Period: 13.3 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Mackinaw
Here's how much it might cost to go solar in Mackinaw.
While the national average of solar panels is $2.66 per watt, solar panels in Mackinaw generally cost about 2.73. To account for the typical energy needs of the average home in Mackinaw, most homeowners require a 6.4-kilowatt system. Using the per-watt figure above, a solar installation costs about $12,154, or $17,380 before the federal solar tax credit of 30% is applied.
The prices above are just estimates to give you an idea of the cost of a solar energy system. The true cost of going solar can vary quite a bit based on a few factors, such as what size system you need, your energy usage and what installation company you go with. With typical savings of about $14,000 on power bills over 20 years, many homeowners in Mackinaw find investing in solar has a decent ROI.
You can click the button below to get connected with a vetted solar installer in Mackinaw for a quote for your home.
Solar savings over time in Mackinaw
| Year | Return on Investment |
|---|---|
| 1 years | $-11,237 |
| 3 years | $-9,402 |
| 5 years | $-7,567 |
| 7 years | $-5,733 |
| 9 years | $-3,898 |
| 11 years | $-2,063 |
| 13 years | $-229 |
| 15 years | $1,606 |
| 17 years | $3,441 |
| 19 years | $5,276 |
| 21 years | $7,110 |
| 23 years | $8,945 |
| 25 years | $10,780 |
Top Solar Installers in Mackinaw
Although you can install solar panels by yourself, it requires extra effort and knowledge. That's why the majority of homeowners choose to hire a solar panel installer. Plus, if you're not certain what brand of solar panels and equipment you need, a solar company can help you find the right equipment for you after a site survey and consultation.
If you're searching for a solar company in Mackinaw, we've 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 Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
See all of the solar companies in Mackinaw
Factors that Affect Solar Panel Costs in Mackinaw
Cost is often one of the most important factors for homeowners who are considering investing in solar. There are a few major factors that determine your overall 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
System size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of installing solar panels. That's why it's a priority to accurately ascertain the size of the solar energy system needed for your home by figuring out your average energy use. Some solar brands — like Maxeon from SunPower — cost more upfront but also tend to offer better efficiency. In a city like Mackinaw, where sunlight is relatively abundant, efficiency can quickly pay off. Also, if you have a small roof or limited space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Mackinaw to be prohibitively steep, even if the investment pays off over time. Thankfully, almost every solar company in the area provides access to financing options. Solar loans remarkably decrease upfront costs for most homeowners, but they also lead to higher prices over time due to interest. It's a good idea to factor 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
Finally, the company you get to install your solar panel system can affect how much it costs. Mackinaw's solar companies all have different labor costs and add varying upcharges to equipment. The company's size can sometimes play the most considerable role in the installation costs. Larger national companies, like SunPro and Sunrun, often have lower prices because they have more 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 discount can bring their pricing down to compete with bigger 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 | $9,698 | 13.8 years |
| 8 kW | $2.78 | $15,594 | $13,237 | 13.5 years |
| 10 kW | $2.73 | $19,110 | $16,928 | 13.3 years |
| 12 kW | $2.68 | $22,473 | $20,773 | 13.0 years |
| 14 kW | $2.62 | $25,684 | $24,770 | 12.7 years |
| 16 kW | $2.57 | $28,741 | $28,920 | 12.5 years |
| 18 kW | $2.51 | $31,646 | $33,223 | 12.2 years |
| 20 kW | $2.46 | $34,398 | $37,679 | 11.9 years |
How to Save on Solar Panels
The solar company you choose will influence not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are a few important things you should keep in mind, including:
- Contract: Though reading through a contract can be tedious, it's important to do it carefully so you can be sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
- Solar Panel Brands: Each solar panel brand and kind has varying levels of quality, longevity and energy efficiency. They will come at different costs as well. The company you choose impacts which solar panel brands you have access to.
- Reputation: Make sure your solar installer has a good reputation by verifying it has certifications and licenses, checking how long it's been in business and reading reviews by previous customers and solar experts like the EcoWatch team.
- Installation Process: An important thing to understand when going solar is the installation process itself. Be sure to align on any details you should know with your solar installer, such as what permits you should acquire and what the project timeline is.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
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 $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 certain factors such as the kind of solar panels you want, what size system you need and how much energy you use.
Can you get solar panels for free in Mackinaw?
You can't get solar panels for free in Mackinaw. However, you may still be able to afford them on a lower budget. You can lease solar panels for a low upfront cost or, if you'd rather own your solar panels, you can finance them with a solar loan.
How much can I save on energy bills after installing solar panels?
It is possible to erase your electricity bills with solar panels, but for most homeowners in Mackinaw, that will require at least a 10-kW system. Not all homes will have roofs that can accommodate that size system, so you'll want to check with a local solar installer to see how many panels can fit on your roof.
How long do solar panels last in Mackinaw?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger level of energy production.
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.