Solar Panel Cost Guide in Macomb, IL (2024 Update)
- Macomb Solar Installation Cost: $16,628
- 25-Year Savings: $13,072
- Payback Period: 16.5 Years
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Average Cost of Solar Panels in Macomb
Find out what the average cost of solar panels are in Macomb.
The national average cost of solar panels is $2.66 per watt, but in Macomb it’s 4 per watt.To account for the typical energy needs of the average home in Macomb, most homeowners require a 6.3-kilowatt system. Using the per-watt figure above, a solar installation costs around $16,628, or $23,778 before the federal solar tax credit of 0 is applied.
The prices above are just estimates to give you an idea of the cost of a solar energy system. The actual cost of going solar can vary based on multiple factors, such as what size system you need, your energy usage and what installation company you go with.But, once you've paid the initial cost of installation, the savings for most homeowners is typically good, with a net average savings of about $15,000 over 20 years on electricity bills.
To receive a free estimate from a vetted solar company in Macomb, you can click the button below.
Solar savings over time in Macomb
| Year | Return on Investment |
|---|---|
| 1 years | $-15,778 |
| 3 years | $-14,077 |
| 5 years | $-12,375 |
| 7 years | $-10,674 |
| 9 years | $-8,973 |
| 11 years | $-7,271 |
| 13 years | $-5,570 |
| 15 years | $-3,869 |
| 17 years | $-2,168 |
| 19 years | $-466 |
| 21 years | $1,235 |
| 23 years | $2,936 |
| 25 years | $4,638 |
Top Solar Installers in Macomb
Do-it-yourself solar panel installation is a choice some homeowners opt for, but it's an undertaking that can be a headache. Using a solar panel installer can make swapping over to solar power much easier. Solar warranties and repairs are usually included in the cost of installation when you hire a solar contractor too, which can save you more money over time.
There are a number of licensed solar professionals that can install solar panels for you. Here are our suggestions:
Best National Provider
SunPower
- 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
- 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
See all of the solar companies in Macomb
Factors that Affect Solar Panel Costs in Macomb
There are several factors that can play into your installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar panels.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a few different factors. One of the main factors is the system size, which is measured in kilowatts (kW). Solar power systems that have better efficiency or power production need 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 $3,760.The brand and type 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 often come at a higher price 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 can expect a higher equipment cost, but this can typically lead to greater savings over time. Also, if you want extra equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Macomb to be too costly, even if the investment pays off over time. Thankfully, almost every solar installer in the area offers financing options. Solar loans greatly decrease upfront costs for most homeowners, but they also lead to paying more over time due to interest.It’s wise to include the interest you’ll pay in your final cost estimate. If you can afford to pay a higher down payment, you can reduce your total costs and how long it’ll take to pay back the loan.
Solar Panel Installation Company
The final major cost factor you should consider is the installer you choose. Given the booming popularity of clean energy solutions in Macomb, you’ll have a great number of options to choose from, but each comes at various price points for labor and equipment.The company’s size can sometimes play the most considerable role in the cost. Larger national companies, like SunPro and Sunrun, often have lower pricing because of access to greater resources and better pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or promotion can bring their pricing lower 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 | $3.91 | $16,424 | $7,456 | 17.2 years |
| 8 kW | $3.84 | $21,477 | $10,363 | 16.9 years |
| 10 kW | $3.76 | $26,320 | $13,480 | 16.5 years |
| 12 kW | $3.68 | $30,952 | $16,808 | 16.2 years |
| 14 kW | $3.61 | $35,374 | $20,346 | 15.9 years |
| 16 kW | $3.53 | $39,585 | $24,095 | 15.5 years |
| 18 kW | $3.46 | $43,586 | $28,054 | 15.2 years |
| 20 kW | $3.38 | $47,376 | $32,224 | 14.9 years |
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because choosing a company can be a tough decision, we have some tips to help you, such as:
- Solar Panel Brands: Homeowners will have different preferences for panels based on their roof configurations and energy needs. While there are many options for which kind of solar panel you can get, not every company will have the exact one you may want or need, so be sure to ask for their list of options before deciding.
- Contract: Before signing a contract with a solar company, be sure to read it through fully so you understand the terms. Also, ask questions if you’re unsure about some of the terms, such as what the warranty covers and if there are any guarantees about energy production.
- Warranty: An all-inclusive, long-term warranty can help keep your solar system running for years to come and save you money on repairs and maintenance.
- Reputation: Solar panel companies that have great reviews from their customers and that have been operating for many years in most cases provide good-quality solar panel installation and expertise.
Best National Provider
SunPower
- 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
- 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
EcoWatch's Macomb, IL Solar Cost FAQs
What is the average cost of installing solar panels in Macomb?
The average cost of solar panels in Macomb 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 such as the kind 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 Macomb?
Leasing solar panels can be an appealing choice, as 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 tax rebates and credits and your home value won’t increase. Buying solar panels is a better way to go if you want to get the most savings.
Can you sell solar power back to the grid in Macomb?
The majority of states offer net metering programs of some kind. Through these, you can either get paid for the extra power your system generates or or receive credits to put toward future energy bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.
How long do solar panels last in Macomb?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can opt to replace them after having them for that long or you can continue to use them at a lower efficiency.
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.