Solar Panel Cost Guide in Mahomet, IL (2023 Update)

  • Mahomet Solar Installation Cost: $16,614
  • 25-Year Savings: $13,214
  • Payback Period: 16.4 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated October 25, 2023

Why you can trust EcoWatch

We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Mahomet

Find out what the average cost of solar panels are in Mahomet.

The national average cost of solar panels is $2.66 per watt, but in Mahomet it's 2.73 per watt.To cover the typical energy needs of the average home in Mahomet, most homeowners require a 6.3-kilowatt system. Using the per-watt figure above, a solar installation costs about $12,058, or $17,243 before the federal solar tax credit of 30% 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 equipment you want, your solar contractor and more.Despite the large initial cost, the average Mahomet homeowner can save about $15,000 on their power bills over 20 years, which is one of the positives of solar.

For a customized quote from a local solar installer that has been pre-vetted by the EcoWatch team, click the button below.

Solar savings over time in Mahomet

Year Return on Investment
1 years $-15,763
3 years $-14,062
5 years $-12,361
7 years $-10,659
9 years $-8,958
11 years $-7,257
13 years $-5,556
15 years $-3,854
17 years $-2,153
19 years $-452
21 years $1,250
23 years $2,951
25 years $4,652

Top Solar Installers in Mahomet

Many homeowners decide to use a solar panel company since trying to put up solar panels on your own can be time-consuming. Plus, if you're unsure 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.

Working with a vetted solar company can help you make the most of your investment in solar. Here are our recommendations:

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries

Best Warranty Coverage

ADT Solar

★★★★★
4.0

  • Industry-leading warranty coverage
  • Expansive service area
  • Some reported communication issues
  • No leases or PPAs

See all of the solar companies in Mahomet

Factors that Affect Solar Panel Costs in Mahomet

Even though the average cost of a solar system in Mahomet is $12,058, your actual cost may differ. There are several factors that can have a major impact on the cost of a solar system installation. Below are some of the more crucial things to keep in mind.

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. There are many different solar panel brands and the one you choose also affects the cost. Generally speaking, the brands that offer higher efficiency tend to also be more expensive. Plus, the type of equipment you're looking to get can affect your total cost. If you just need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.

Solar Financing Terms

If paying for a solar system in cash is out of reach, solar loans are a popular choice because they decrease your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years.When estimating your overall cost, you should also calculate the interest you'll pay if you go with a solar loan. Also, paying more on your down payment can reduce the total interest paid over time.

Solar Panel Installation Company

The remaining significant cost factor you should keep in mind is the installer you choose. Given the booming popularity of renewable energy solutions in Mahomet, you'll have many options to choose from, but each comes at varying price points for labor and equipment.Larger national companies usually have lower costs, but some local companies keep up with them by offering sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or add-on services like electric vehicle 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 $3.91 $16,424 $7,603 17.1 years
8 kW $3.84 $21,477 $10,558 16.8 years
10 kW $3.76 $26,320 $13,724 16.4 years
12 kW $3.68 $30,952 $17,100 16.1 years
14 kW $3.61 $35,374 $20,687 15.8 years
16 kW $3.53 $39,585 $24,485 15.4 years
18 kW $3.46 $43,586 $28,493 15.1 years
20 kW $3.38 $47,376 $32,712 14.8 years

How to Save on Solar Panels

There are many solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you select the right company for you, here are some tips to keep in mind:

  • Installation Process: An important thing to understand when adopting solar energy is the installation process itself. Be sure to align on any details you should know with your solar company, such as what permits you should secure and how long the project will take.
  • Solar Panel Brands: The model of solar panel you want to get plays a role in which installer you should opt for, since different companies have different panels.
  • Reputation: Make sure your solar panel installer has a good reputation by confirming it has certifications and licenses, checking its work history and reading reviews by previous customers and solar experts like the EcoWatch team.
  • Contract: Though reading through a contract can be tedious, it's important to do it carefully so you can be sure you understand what services your solar company will provide and how part repairs and replacements will be handled.

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries

Best Warranty Coverage

ADT Solar

★★★★★
4.0

  • Industry-leading warranty coverage
  • Expansive service area
  • Some reported communication issues
  • No leases or PPAs

EcoWatch's Mahomet, IL Solar Cost FAQs

How much does it cost to install solar panels in Mahomet?

The average cost of solar panels in Mahomet 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 stuff such as the kind of solar panels you want, what size system you need and how much energy you consume.

Should I lease or buy solar panels in Mahomet?

Leasing solar panels can be an option if you are unable to 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 bang for your buck from going solar.

Can solar panels completely eradicate my energy bills?

Solar panels can potentially eliminate your electricity bills depending on your location and how much sunlight your home gets. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $800.88 per year.

How long do solar panels last in Mahomet?

Even 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 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.

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