Solar Panel Cost Guide in Manteno, IL (2023 Update)
- Manteno Solar Installation Cost: $12,246
- 25-Year Savings: $10,366
- Payback Period: 13.5 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated September 15, 2023
Why you can trust EcoWatch
Average Cost of Solar Panels in Manteno
Find out what the average cost of solar panels are in Manteno.
The national average cost of solar panels is $2.66 per watt, but in Manteno it's 2.73 per watt. Using this figure, a typical 6.4-kW system would cost about $12,250 before the 30% federal solar tax credit is applied.
Remember that the numbers above are only averages. The price you'll pay for solar may vary based on your household energy consumption, the type of solar panels you want to get, your solar contractor and more. But, once you've paid the initial cost of installation, the payback for most homeowners is usually fruitful, with a net average savings of about $13,000 over 20 years on energy bills.
Click the button below to get connected to a top solar company in Manteno for a custom quote.
Solar savings over time in Manteno
| Year | Return on Investment |
|---|---|
| 1 years | $-12,171 |
| 3 years | $-12,020 |
| 5 years | $-11,869 |
| 7 years | $-11,719 |
| 9 years | $-11,568 |
| 11 years | $-11,417 |
| 13 years | $-11,266 |
| 15 years | $-11,116 |
| 17 years | $-10,965 |
| 19 years | $-10,814 |
| 21 years | $-10,663 |
| 23 years | $-10,513 |
| 25 years | $-10,362 |
Top Solar Installers in Manteno
Trying to put up solar panels on your own can be a stressful project, which is why getting a solar installation company is a good option for many homeowners. Companies can also offer access to quality options of the best solar panels and help you choose which one will be best for your home.
You can get a free estimate from a local solar installer on how much your investment in solar could cost for your home. Here are some near you:
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 Manteno
Factors that Affect Solar Panel Costs in Manteno
The cost of installing a solar system in Manteno can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The biggest one is your system size, and other factors include the equipment you choose, financing options and the solar company you choose.
Solar Equipment
When it comes to estimating the cost of a solar system in Manteno, 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 determine by looking at past electricity bills. Your overall cost can increase by around $2,730 for each additional kilowatt you need. The brand and type of equipment you choose for your solar system can raise or lower the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often have a higher price tag than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have limited roof space or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to greater savings over time. Plus, if you want extra equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Solar panels can save you money on power bills over many years, but they can also be a significant investment. That's why many Manteno homeowners opt to finance their solar panel systems to make going solar more affordable. You'll have to consider the long-term cost of financing options, 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 securing a solar loan with a low interest rate could reduce your costs significantly.
Solar Panel Installation Company
The solar panel installer you pick will play a role in your total cost to make the switch to solar energy. Different companies will charge different amounts for the equipment and labor. Larger national companies typically have lower costs, but some local companies compete 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 | $2.84 | $11,925 | $9,246 | 14.1 years |
| 8 kW | $2.78 | $15,594 | $12,634 | 13.8 years |
| 10 kW | $2.73 | $19,110 | $16,175 | 13.5 years |
| 12 kW | $2.68 | $22,473 | $19,869 | 13.3 years |
| 14 kW | $2.62 | $25,684 | $23,715 | 13.0 years |
| 16 kW | $2.57 | $28,741 | $27,715 | 12.7 years |
| 18 kW | $2.51 | $31,646 | $31,867 | 12.5 years |
| 20 kW | $2.46 | $34,398 | $36,172 | 12.2 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Since picking a company can be a challenge, we have some tips to help you, such as:
- Solar Panel Brands: Homeowners will have different preferences for panels based on their roof configurations and how much efficiency they need. Although there are many options for which kind of solar panel you can get, not every company will have the exact one you may want or need, so be sure to peruse their list of offerings before deciding.
- Reputation: Long-standing companies likely have a good reputation. This is important because it ensures that it will not only see your solar project through, but will also provide quality aftercare and customer support, such as part repairs and replacements.
- Warranty: A quality company rises above other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Contract: Read the contract terms closely to make sure you understand how much it will cost, project completion timeline rebates and warranties.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Manteno, IL Solar Cost FAQs
How much does it cost to install solar panels in Manteno?
This is a tough question to answer precisely, because the cost depends on a variety of 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. It will cost more if you want other solar equipment or higher quality panels, or if you have above-average energy usage. On the flip side, you can spend less if you opt for a smaller solar panel system or less efficient solar panels.
Should I lease or buy solar panels in Manteno?
Leasing solar panels can be an option if you can't pay upfront or get 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.
Is it worth going solar in Manteno?
Solar panels can be a fruitful investment for most homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your electricity bills are already pretty low, solar panels might not be for you.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy usage and the amount of sunlight your roof gets. You can look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to get between 20 and 35 panels to account for their typical energy usage.
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.