Solar Panel Cost Guide in Marengo, IL (Nov 2022)

  • Marengo Solar Installation Cost: $12,460
  • 25-Year Savings: $10,152
  • Payback Period: 13.8 Years

See cost of a solar system near you:

EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 11/09/2022

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 Marengo

Here's how much it might cost to switch to solar power in Marengo.

The national average cost of solar panels is $2.66 per watt, but in Marengo it's $3 per watt. Since a 6.5-kW system is needed to cover the energy costs of a typical home in Marengo, the average price of going solar will be about $12,460 before claiming the federal solar tax credit of 30%.

Bear in mind that the figures above are only estimates based on the average Marengo homeowner. The price of a solar system for your home may be different depending on factors unique to your situation, like your household energy use and solar contractor. For most homeowners, the upfront investment in solar power is worth paying. On average homeowners in Marengo see about $13,000 in savings on utility bills over 20 years.

To calculate your potential savings and connect with a local solar company, click the button below.

Solar savings over time in Marengo

Year Return on Investment
1 years $-11,555
3 years $-9,746
5 years $-7,937
7 years $-6,128
9 years $-4,319
11 years $-2,511
13 years $-702
15 years $1,107
17 years $2,916
19 years $4,725
21 years $6,534
23 years $8,343
25 years $10,152

Top Solar Installers in Marengo

When making the switch to solar, many homeowners choose to go with a solar installation company since putting up a solar system yourself can be a difficult project. Another perk of using a solar installer is that they can help you maximize your ROI by bringing down your future costs of repairs and replacements because of warranties and helping you learn about local incentives you can take advantage of.

If you'd like to start using solar energy but still aren't certain which solar panel installer to go with, here are our recommendations for providers near you:

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 (coming 2022)

Best Technology

Tesla Energy

★★★★★
4.5

  • 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 Marengo

Factors that Affect Solar Panel Costs in Marengo

Although the average cost of solar panels in Marengo is $12,460, your actual cost may be higher or lower than that. There are quite a few factors that can have a significant impact on the cost of a solar system installation. Below are some of the more important things to keep in mind.

Solar Equipment

When it comes to estimating the price of a solar energy system in Marengo, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are primarily based on your home's energy usage, which you can figure out by looking at past electricity bills. Your total cost can increase by around $2,730 for each additional kilowatt you need. The type of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you choose the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. However, higher efficiency could save you more in the long run on your electric bills. Additionally, extra products, such as solar batteries, can bring your total well above the Marengo average.

Solar Financing Terms

Many homeowners find the average cost of solar in Marengo to be prohibitively steep, even if the investment pays off over time. Thankfully, nearly every solar installer in the area offers financing options. Solar loans substantially decrease upfront costs in most cases, but they also lead to higher prices over time because of interest. When figuring out your overall cost, you should also calculate the interest you'll pay if you decide on a solar loan. Also, paying a higher down payment can reduce the total interest paid over time.

Solar Panel Installation Company

Lastly, the company you choose to install your solar panel system can influence how much you pay. Marengo's solar companies all have different labor costs and add varying upcharges to equipment. 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 additional 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 $8,875 14.3 years
8 kW $2.78 $15,594 $12,138 14.1 years
10 kW $2.73 $19,110 $15,555 13.8 years
12 kW $2.68 $22,473 $19,125 13.5 years
14 kW $2.62 $25,684 $22,848 13.2 years
16 kW $2.57 $28,741 $26,723 13.0 years
18 kW $2.51 $31,646 $30,751 12.7 years
20 kW $2.46 $34,398 $34,933 12.4 years

How to Save on Solar Panels

The solar company you opt for will impact not only your overall costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are several important things you should consider, including:

  • Contract: Before you sign a contract with a solar company, make sure to look it over completely so you understand the terms. Also, ask questions if you're unsure about some of the terms, such as what the warranty covers and what services you can expect from them.
  • Reputation: Well-established companies likely have a good reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide quality aftercare and customer service, such as part repairs and replacements.
  • Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and energy needs. While there are many options for which type of solar panel you can get, not every company will have access to the exact one you may want or need, so make sure you ask for their list of options before making your decision.
  • Warranty: A comprehensive, long-term warranty can help keep your solar panels running for a long time and save you money on repairs and maintenance.

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 (coming 2022)

Best Technology

Tesla Energy

★★★★★
4.5

  • 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 Marengo, IL Solar Cost FAQs

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

This is a hard 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. You can expect to pay more if you want extra solar equipment or higher quality panels, or if you have higher-than-average energy usage. Conversely, you can spend less if you choose a smaller solar panel system or cheaper solar panels.

Can you get solar panels for free in Marengo?

You can't get solar panels for free in Marengo. However, you may still be able to afford them on a lower budget. You can lease solar panels for a low upfront cost or, if you'd rather own your solar panels, you can finance them with a solar loan.

Do solar panels increase your home value?

Solar panels can increase the value of your home remarkably as long as you buy or finance your panels and don't go for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing solar panels."

How often do you have to replace solar panels?

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 how much energy they produce will have decreased significantly after that point. You can opt to replace them after having 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.

solar panel and sunny sky
Invest in clean solar energy, save thousands of dollars.

Save $$ on your electricity bill by getting a free quote today.

Follow us