Solar Panel Cost Guide in Manteno, IL (2024 Update)
- Manteno Solar Installation Cost: $16,867
- 25-Year Savings: $10,366
- Payback Period: 18.6 Years
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Average Cost of Solar Panels in Manteno
Let’s have a look at the average cost of solar in Manteno.
The national average cost of solar panels is $2.66 per watt, but in Manteno it’s 4 per watt.To cover the typical energy usage of the average home in Manteno, most homeowners require a 6.4-kilowatt system. Using the per-watt figure above, a solar installation costs about $16,867, or $24,120 before the federal solar tax credit of 0 is applied.
These figures are only averages, and how much solar costs for you will most likely differ based on the amount of energy your home requires and what company you want to go with.But, after you've paid the upfront cost of installation, the payback for most homeowners is usually fruitful, with a net average savings of about $13,000 over 20 years on utility bills.
For a personalized quote from a local solar installer that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Manteno
| Year | Return on Investment |
|---|---|
| 1 years | $-15,710 |
| 3 years | $-13,398 |
| 5 years | $-11,086 |
| 7 years | $-8,773 |
| 9 years | $-6,461 |
| 11 years | $-4,149 |
| 13 years | $-1,836 |
| 15 years | $476 |
| 17 years | $2,789 |
| 19 years | $5,101 |
| 21 years | $7,413 |
| 23 years | $9,726 |
| 25 years | $12,038 |
Top Solar Installers in Manteno
Although you can install solar panels on your own, it involves extra time and handiness. That's one of the reasons the majority of homeowners choose to go with a solar panel installer. Companies can also have access to various kinds of the best solar panels and help you decide which one will be best for you.
Working with a vetted solar installer can make going solar easier. Here are our recommendations:
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 Manteno
Factors that Affect Solar Panel Costs in Manteno
There are a number of factors that can play into your installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that performs the installation.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to some different factors. One of the key factors is the system size, which is measured in kilowatts (kW). Solar power systems that have greater efficiency or power generation use better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $3,760.The model of solar panels and equipment you choose is another factor that will substantially affect costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to cost more. Moreover, solar equipment goes beyond just the solar panels themselves. You’ll also need to make decisions about the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when researching a solar system that’s in your budget.
Solar Financing Terms
Many homeowners find the average cost of solar in Manteno to be prohibitively expensive, even if the investment pays off over time. Fortunately, nearly every solar company in the area offers financing options. Solar loans drastically decrease upfront costs in most cases, but they also lead to higher prices over time because of interest.When estimating your overall cost, you should also calculate the interest you’ll pay if you choose to 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 solar company you go with to handle your switch to renewable energy can play a role in your total costs. There are about 3 solar panel companies operating in Manteno, and each can charge varying amounts for labor and equipment.You may notice national solar installers that have lower prices due to their bigger brand name and access to bulk equipment prices, or you might see small, local installation companies offering deals or specials to compete with those larger 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 | $4,747 | 19.4 years |
| 8 kW | $3.84 | $21,477 | $6,751 | 19.0 years |
| 10 kW | $3.76 | $26,320 | $8,965 | 18.6 years |
| 12 kW | $3.68 | $30,952 | $11,390 | 18.3 years |
| 14 kW | $3.61 | $35,374 | $14,025 | 17.9 years |
| 16 kW | $3.53 | $39,585 | $16,871 | 17.5 years |
| 18 kW | $3.46 | $43,586 | $19,927 | 17.2 years |
| 20 kW | $3.38 | $47,376 | $23,194 | 16.8 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you decide on the right company for you, here are some tips to keep in mind:
- Solar Panel Brands: Not all solar installers offer the same brands of solar panels, so the brand and type of panel you want can play a considerable role in the company you hire.
- Contract: When reading through your solar installer’s contract, ask questions about any terms you’re not sure of and be sure you understand what happens in scenarios such as a system component breaking or the company going out of business.
- Reputation: Make sure your solar panel installer has a good reputation by confirming it has certifications and licenses, checking how long it's been in business and reading reviews by previous customers and solar experts like EcoWatch.
- Warranty: Warranties that cover replacement parts and repairs over a long period of time such as 25 years are the best you can get in the business, and offering that kind of warranty is one mark of a quality company.
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 Manteno, IL Solar Cost FAQs
How much does it cost to install solar panels in Manteno?
This is a hard question to answer exactly, because the cost depends on a variety of 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 cost more if you want other solar equipment or more efficient panels, or if you have above-average energy needs. Conversely, you can spend less if you go with a smaller solar panel system or cheaper solar panels.
What other factors should I consider other than cost when buying solar panels?
Cost is without a doubt one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Is it worth going solar in Manteno?
Solar panels can be a beneficial investment for many homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your energy bills are already reasonably low, solar panels might not be for you.
How often do you have to replace solar panels?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger level of energy production.
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.