Solar Panel Cost Guide in Macomb, IL (2023 Update)
- Macomb Solar Installation Cost: $12,078
- 25-Year Savings: $13,067
- Payback Period: 12.0 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Macomb
Find out what the average cost of installing solar panels is in Macomb.
Although the national average of solar panels is $2.66 per watt, solar panels in Macomb typically cost around 2.73. Using this figure, a typical 6.3-kW system would cost about $12,078 before the 30% federal solar tax credit is applied.
Keep in mind that the figures above are only estimates based on the average energy use of Macomb homeowners. The cost of a solar system for your home may look different depending on factors unique to your situation, like your household energy use and solar contractor. But, once you've paid the initial cost of installation, the return on investment for most homeowners is usually rewarding, with a net average savings of about $15,000 over 20 years on electricity bills.
For a customized quote from a local solar installer that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Macomb
| Year | Return on Investment |
|---|---|
| 1 years | $-11,072 |
| 3 years | $-9,060 |
| 5 years | $-7,049 |
| 7 years | $-5,037 |
| 9 years | $-3,025 |
| 11 years | $-1,014 |
| 13 years | $998 |
| 15 years | $3,009 |
| 17 years | $5,021 |
| 19 years | $7,033 |
| 21 years | $9,044 |
| 23 years | $11,056 |
| 25 years | $13,067 |
Top Solar Installers in Macomb
Many homeowners choose to use a solar panel company since figuring out how to install solar panels on your own can be challenging. Companies can also have access to various kinds of the best solar panels and help you choose which one will be best for your family.
Working with a licensed solar company can make going solar easier. Here are our recommendations:
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 Macomb
Factors that Affect Solar Panel Costs in Macomb
For many Macomb homeowners, the decision to install solar panels depends on cost. However, the range of solar installation costs can be quite wide in Macomb, with typical prices between $20,000 to $40,000. There are a few factors that significantly influence the price you'll pay, which we'll go over below.
Solar Equipment
The size of the solar energy system you need for your household, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by around $2,730. The solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you opt for the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. However, higher efficiency could save you more in the long run on your electric bills. In addition, add-on products, like solar batteries, can bump up your total well above the Macomb average.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be difficult. Solar loans are offered by most installers in Macomb, which can lower, or in some cases completely eliminate, your upfront costs to make solar more accessible. You'll have to consider the long-term cost of loans, including the total interest you'll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or finding a solar loan with a low APR could reduce your costs significantly.
Solar Panel Installation Company
A final factor to consider when trying to estimate the cost of solar for your home or business in Macomb is the company you hire to install your solar system. As with choosing a company to renovate your kitchen, for instance, there's no shortage of solar installers that provide a range of services at different price points. You may come across national solar installers that have lower prices because of their bigger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or specials to compete with those major players.
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 | $11,955 | 12.5 years |
| 8 kW | $2.78 | $15,594 | $16,246 | 12.2 years |
| 10 kW | $2.73 | $19,110 | $20,690 | 12.0 years |
| 12 kW | $2.68 | $22,473 | $25,287 | 11.8 years |
| 14 kW | $2.62 | $25,684 | $30,036 | 11.5 years |
| 16 kW | $2.57 | $28,741 | $34,938 | 11.3 years |
| 18 kW | $2.51 | $31,646 | $39,994 | 11.0 years |
| 20 kW | $2.46 | $34,398 | $45,202 | 10.8 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 models and price points. To help you decide on the right company for you, here are some tips to keep in mind:
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a solid reputation and is qualified to install your solar system. Another way you can look into your installer's reputation is by reading reviews.
- Contract: Read the contract terms closely to make sure you understand how much it will cost, project completion timeline rebates and warranties.
- Installation Process: Homeowners should make sure they know how exactly the installation process will be carried out, as well as important factors like the completion timeline.
- Solar Panel Brands: Different companies offer various brands and kinds of panels. If you know you want a specific brand, make sure the solar company you're considering has it.
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 Macomb, IL Solar Cost FAQs
What is the average cost of installing solar panels in Macomb?
This is a tough question to answer exactly, because the cost depends on many factors. Broadly speaking, it costs about $13,650 for a 5-kW system and $27,300 for a 10-kW system after the ITC is applied. You can expect to pay more if you want additional solar equipment or more efficient panels, or if you have above-average energy consumption. On the flip side, you can spend less if you choose a smaller solar panel system or less efficient solar panels.
Should I lease or buy solar panels in Macomb?
Leasing solar panels can be an option if you can't pay upfront or secure a solar loan, but since you don't own the system, you don't have access to many solar incentives. Also your property value won't increase, so you'll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most savings from going solar.
Does Macomb have a net metering program?
Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just give you credit toward your future energy bills.
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 their energy production will have decreased significantly after that point. You can decide 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.