Solar Panel Cost Guide in Marion, IL (2024 Update)
- Marion Solar Installation Cost: $15,943
- 25-Year Savings: $13,847
- Payback Period: 15.7 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Why you can trust EcoWatch
Average Cost of Solar Panels in Marion
Find out what the average cost of solar panels are in Marion.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Marion, the average cost of a solar system is 4 per watt.The average Marion homeowner needs a 6.1-kilowatt system, which would cost about $15,943 with the federal tax credit, or $22,798 before the 0 tax credit is applied.
These figures are just averages, and your own solar costs will most likely vary based on your specific situation and what company you go with.For most homeowners, the upfront cost of solar power is worth paying. On average Marion homeowners see about $16,000 in savings on energy bills over 20 years.
To receive a free estimate from a vetted solar installation company in Marion, you can click the button below.
Solar savings over time in Marion
| Year | Return on Investment |
|---|---|
| 1 years | $-15,092 |
| 3 years | $-13,391 |
| 5 years | $-11,689 |
| 7 years | $-9,988 |
| 9 years | $-8,287 |
| 11 years | $-6,586 |
| 13 years | $-4,884 |
| 15 years | $-3,183 |
| 17 years | $-1,482 |
| 19 years | $220 |
| 21 years | $1,921 |
| 23 years | $3,622 |
| 25 years | $5,323 |
Top Solar Installers in Marion
Many homeowners choose to hire a solar panel company since trying to put up solar panels by yourself can be a lot of work. Also, companies with a good reputation that cost more upfront could actually save you money in the long term due to their warranties, repair services and expert design.
There are various licensed solar professionals that can help you install your solar panels. Here are our suggestions:
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 Marion
Factors that Affect Solar Panel Costs in Marion
Cost is often one of the most important factors for homeowners who are considering investing in solar. There are a few primary factors that affect your total cost in Marion: solar equipment and system size, financing options and the solar installation company you choose. We’ll go over each of these briefly below.
Solar Equipment
When it comes to estimating the cost of a solar energy system in Marion, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are mainly based on your home’s energy usage, which you can figure out by looking at past power bills. Your overall cost can increase by about $3,760 for each additional kilowatt you need.There are many different solar panel brands and the one you pick also changes the cost. Generally, the brands that have better efficiency tend to also be more expensive. Plus, the type of equipment you want to install 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 out of pocket is out of reach, solar loans are an affordable option because they reduce your upfront costs and let you pay for your system over a term of, on average, between five and seven years.It’s a good idea to factor the interest you’ll pay in your final cost estimate. If you can afford to pay a larger down payment, you can reduce your total costs and how long it’ll take to pay off the loan.
Solar Panel Installation Company
The solar installer you choose to handle your switch to sustainable energy can play a part in your total costs. There are about 3 solar installation companies operating throughout Marion, and each can charge varying amounts for labor and equipment.You may notice national solar installers that have lower prices due to their larger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or promotions 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 | $8,758 | 16.3 years |
| 8 kW | $3.84 | $21,477 | $12,099 | 16.0 years |
| 10 kW | $3.76 | $26,320 | $15,650 | 15.7 years |
| 12 kW | $3.68 | $30,952 | $19,412 | 15.4 years |
| 14 kW | $3.61 | $35,374 | $23,384 | 15.1 years |
| 16 kW | $3.53 | $39,585 | $27,567 | 14.7 years |
| 18 kW | $3.46 | $43,586 | $31,960 | 14.4 years |
| 20 kW | $3.38 | $47,376 | $36,564 | 14.1 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 models and price points. To help you find the right company for you, here are some tips to keep in mind:
- Installation Process: Make sure you’re on the same page with the installer with regard to how the installation process will go and what needs to be done before your solar panel system is installed, such as updating your electrical system or roof.
- Reputation: Make sure your solar panel installer has a good reputation by confirming it has certifications and licenses, checking its number of years in business and reading reviews by previous customers and solar experts like the EcoWatch team.
- Warranty: A comprehensive, 25-year warranty can help keep your solar panel system running smoothly and save you money on part replacement and repairs.
- Contract: Review the contract terms closely to make sure you understand how much it will cost, project completion timeline rebates and warranties.
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 Marion, IL Solar Cost FAQs
What is the average cost of installing solar panels in Marion?
The average cost of solar panels in Marion 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 such as the type of solar panels you want, what size system you need and how much energy you use.
Should I lease or buy solar panels in Marion?
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 property 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 Marion?
Solar panels can be a good 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 pretty 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 goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger amount 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.