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.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Macomb, the typical cost of solar panels is 4 per watt.Using this figure, a typical 6.3-kW system would cost about $16,628 before the 0 federal solar tax credit is applied.
Remember that the numbers above are only averages. The price you’ll end up paying for solar may vary based on your household energy use, the type of solar panels you want, your solar contractor and more.For many homeowners, the upfront investment in solar panels is worth paying. On average you could be looking at about $15,000 in savings on energy bills over 20 years.
To get a free estimate from a top 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
When going solar, many homeowners opt to go with a solar installation company since installing solar panels yourself can be a challenging project. Plus, warranties and repairs from your solar panel installer can protect your investment and bring down the cost of maintenance in the long run.
If you're searching for a solar company in Macomb, the EcoWatch team has put together 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 Macomb
Factors that Affect Solar Panel Costs in Macomb
The cost of installing a solar system in Macomb can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The biggest one is the size of the system your home needs, and other factors include equipment choices, financing options and the solar installer you choose.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household uses, the larger your system will likely need to be. You can expect to spend about $3,760 per kilowatt in Macomb.The type of 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. On the other hand, higher efficiency could save you more over time on your energy bills. Additionally, extra products, like solar batteries, can bring your total well above the Macomb average.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be a challenge. Solar loans are offered by most installers in Macomb, which can bring down, or in some cases completely eliminate, your upfront costs to make solar more affordable.You’ll have to consider the long-term cost of loans, including the amount of 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 more than the principal cost. Making a larger down payment or finding a solar loan with a low interest rate could reduce your costs considerably.
Solar Panel Installation Company
Finally, the company you get to install your solar panels can play a role in determining how much it costs. Macomb’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 your total costs. Larger national companies, like SunPro and Sunrun, often have lower prices because of access to 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 down 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 | $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 solar panel 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 challenge, we have some tips to help you, such as:
- Solar Panel Brands: Not all solar companies have the same brands of solar panels, so the brand and type of panel you want can play a large role in the company you go with.
- Contract: Before signing a contract with a solar company, be sure to read it through completely so you understand the terms. Also, ask questions if you aren’t sure about some of the terms, such as what the warranty covers and what services you can expect from them.
- Warranty: Companies typically offer different types of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Reputation: Long-running companies likely have a solid reputation. This is important because it ensures that it will not only see your solar project through, but will also provide adequate aftercare and customer support, such as part repairs and replacements.
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 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 a few different factors. Broadly speaking, it costs about $18,800 for a 5-kW system and $37,600 for a 10-kW system after the ITC is applied. It will be more expensive if you want other solar equipment or higher quality panels, or if you have above-average energy needs. On the other hand, 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 home 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.
Can you sell solar power back to the grid in Macomb?
Most states have net metering programs of some kind. Through these, you can get paid for the extra power your system generates or or receive credits to put toward future utility bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.
How often do you have to replace solar panels?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is how much energy they produce will have decreased significantly after that point. You can opt to replace them once you've had them for that long or you can keep using 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.