Solar Panel Cost Guide in Makanda, IL (2024 Update)
- Makanda Solar Installation Cost: $15,971
- 25-Year Savings: $14,870
- Payback Period: 15.1 Years
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Average Cost of Solar Panels in Makanda
See how much it might cost to go solar in Makanda.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Makanda, the typical cost of a solar system is 4 per watt.To account for the typical energy needs of the average home in Makanda, most homeowners require a 6.1-kilowatt system. Using the figure above, a solar installation costs around $15,971, or $22,839 before the federal solar tax credit of 0 is applied.
Keep in mind that the figures above are only estimates based on the average energy use of Makanda homeowners. The price of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor.Many homeowners find adopting solar power is a solid investment. The average homeowner in Makanda can save around $17,000 on their power bills over 20 years.
For a customized quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Makanda
| Year | Return on Investment |
|---|---|
| 1 years | $-15,121 |
| 3 years | $-13,420 |
| 5 years | $-11,718 |
| 7 years | $-10,017 |
| 9 years | $-8,316 |
| 11 years | $-6,614 |
| 13 years | $-4,913 |
| 15 years | $-3,212 |
| 17 years | $-1,511 |
| 19 years | $191 |
| 21 years | $1,892 |
| 23 years | $3,593 |
| 25 years | $5,295 |
Top Solar Installers in Makanda
Many homeowners opt for a solar panel company since trying to put up solar panels on your own can be hard. Solar installers provide key benefits that can help you maximize your investment, like warranties, monitoring and free repairs.
Working with a licensed solar company can help your solar project go smoothly. Here are our recommendations:
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 Makanda
Factors that Affect Solar Panel Costs in Makanda
Cost is usually one of the most important factors for homeowners wanting to invest in solar. There are a few major factors that determine your overall cost in Makanda: solar equipment and system size, financing options and the solar installation company you choose. We’ll cover each of these briefly below.
Solar Equipment
When it comes to estimating the price of solar panels in Makanda, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home’s energy usage, which you can figure out by looking at past power bills. Your total cost can increase by about $3,760 for each additional kilowatt you need.The type of solar panels and equipment you get is another factor that will largely influence costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to come at a higher price. Plus, solar equipment goes beyond just the solar panels themselves. You’ll also need to decide on the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when looking for a solar system that’s in your budget.
Solar Financing Terms
Many homeowners find the average cost of solar in Makanda to be prohibitively expensive, even if the investment pays off over time. Fortunately, almost every solar installer in the area offers financing options. Solar loans greatly decrease upfront costs for most homeowners, but they also lead to a higher cost over time because of interest.While solar loans make going solar more accessible for Makanda homeowners, they can also increase the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you make a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
The solar company you select will affect your total cost to make the switch to solar power. Different companies will bill different amounts for the equipment and labor.The size of the company can sometimes play the most considerable role in the cost. Larger national companies, like SunPro and Sunrun, often have lower pricing because of more 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 discount can bring their pricing down 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 | $9,745 | 15.7 years |
| 8 kW | $3.84 | $21,477 | $13,414 | 15.4 years |
| 10 kW | $3.76 | $26,320 | $17,294 | 15.1 years |
| 12 kW | $3.68 | $30,952 | $21,385 | 14.8 years |
| 14 kW | $3.61 | $35,374 | $25,686 | 14.5 years |
| 16 kW | $3.53 | $39,585 | $30,197 | 14.2 years |
| 18 kW | $3.46 | $43,586 | $34,920 | 13.9 years |
| 20 kW | $3.38 | $47,376 | $39,852 | 13.6 years |
How to Save on Solar Panels
Since the brand of solar panels and the installer you choose has an impact on your costs and your system’s efficiency, production, and durability, it’s important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- Warranty: Each company may offer different types of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Reputation: Your solar installer should have a solid reputation as a company and have verifiable expertise in the field. A couple of ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from previous customers.
- Solar Panel Brands: Not all solar installers carry the same brands of solar panels, so the brand and type of panel you want can play a substantial role in the company you choose.
- Installation Process: Homeowners should understand how exactly the installation process will be carried out, as well as important factors like the project completion timeline.
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 Makanda, IL Solar Cost FAQs
What is the average cost of installing solar panels in Makanda?
The average cost of solar panels in Makanda 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 things like the type of solar panels you want, what size system you need and how much energy you consume.
Can you get solar panels for free in Makanda?
A solar panel system isn’t free in Makanda, but there are some options that can make getting them more affordable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can help lower the cost.
Is it worth going solar in Makanda?
Solar panels can be a great investment for a majority of homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your power bills are already reasonably low, solar panels might not be for you.
How often do you have to replace solar panels?
Even 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 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.