Solar Panel Cost Guide in Macomb City, IL (2023 Update)
- Macomb City Solar Installation Cost: $12,073
- 25-Year Savings: $13,072
- Payback Period: 12.0 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Macomb City
Let's take a look at the average cost of solar in Macomb City.
In Macomb City, solar panels cost about 2.73 per watt on average. The average solar panel system size in Macomb City is around 6.3 kilowatts, meaning a cost of about $12,078 for a solar installation, or $17,272 before the 30% federal solar tax credit is applied.
These figures are only averages, and your own solar costs will vary based on factors unique to your home and what company you want to go with. With typical savings of about $15,000 on utility bills over 20 years, many homeowners in Macomb City find going solar has a decent ROI.
For a customized quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Macomb City
| Year | Return on Investment |
|---|---|
| 1 years | $-11,990 |
| 3 years | $-11,822 |
| 5 years | $-11,654 |
| 7 years | $-11,487 |
| 9 years | $-11,319 |
| 11 years | $-11,151 |
| 13 years | $-10,984 |
| 15 years | $-10,816 |
| 17 years | $-10,648 |
| 19 years | $-10,481 |
| 21 years | $-10,313 |
| 23 years | $-10,145 |
| 25 years | $-9,978 |
Top Solar Installers in Macomb City
Do-it-yourself solar panel installation is a possibility, but it's an undertaking that can take a lot of hard work. Going with a solar company can make your switch to solar power much easier. Companies can also have access to quality options of the best solar panels and help you pick which one will be right for you.
Working with a licensed solar company can help you make the most of your investment in solar. Here are our recommendations:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
See all of the solar companies in Macomb City
Factors that Affect Solar Panel Costs in Macomb City
Cost is typically one of the most important factors for homeowners wanting to invest in solar. There are a few key factors that will push your cost above or below the average in Macomb City: solar equipment and system size, financing options and the solar installation company you choose. We'll cover each of these briefly below.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a variety of factors. One of the notable factors is the system size, which is measured in kilowatts (kW). Solar power systems with greater efficiency or power generation use 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 $2,730. 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, more efficient panels could save you more over time on your power bills. In addition, add-on products, like solar batteries, can bring your total well above the Macomb City average.
Solar Financing Terms
Solar panels can save you money on power bills over many years, but they can also be a big investment. That's why many Macomb City homeowners decide to finance their solar panel systems to make paying for solar more affordable. However, the interest on solar loans also increases your overall costs, so it's crucial to keep that in mind as well. You can always bring down the total you pay in interest and sometimes even your APR by putting more money down.
Solar Panel Installation Company
The remaining significant cost factor you should take into consideration is the installer you choose. Given the booming popularity of sustainable energy solutions in Macomb City, you'll have a great number of options to choose from, but each comes at different price points for labor and equipment. Larger national companies generally have lower costs, but some local companies keep up with them by promoting sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or extra services like electric car charger installation, they might be cheaper overall.
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
The solar company you choose will be a major factor in determining 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 several important things you should take into account, including:
- Contract: When looking through your solar installer's contract, ask for clarification about any terms you're not sure of and make sure you understand what happens in scenarios like a system part breaking or the company going out of business.
- Reputation: Solar system installers that have great reviews from their customers and that have been in business for many years most likely offer quality solar panel installation and expertise.
- Installation Process: When going solar, it's essential to keep an open line of communication with your solar panel company. Confirm that you understand how the installation process works and the project timeline.
- Solar Panel Brands: The model of solar panel you'd like plays a part in which installer you should go with, since different companies offer different panels.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Macomb City, IL Solar Cost FAQs
What is the average cost of installing solar panels in Macomb City?
The average cost of solar panels in Macomb City is about $13,650 for a 5-kW system and $27,300 for a 10-kW system before the ITC, but the actual cost will depend on stuff like the model of solar panels you want, what size system you need and how much energy you consume.
Should I lease or buy solar panels in Macomb City?
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 can't take advantage of 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 financial benefits from going solar.
How will installing solar panels impact my property value?
Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Macomb City is currently $108,500, which means you can expect a value of about $4,448 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Macomb City is a rewarding investment.
How long do solar panels last in Macomb City?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can decide 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.