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.
Although the national average of solar panels is $2.66 per watt, solar panels in Marion typically cost about 4.Using this figure, a typical 6.1-kW system would cost about $15,943 before the 0 federal solar tax credit is applied.
The prices above are just estimates to give you an idea of the cost of solar panels. The exact cost of making the switch to solar can vary depending on several factors, such as how many panels you need, your energy usage and what company you go with.But, after you've paid the initial cost of installation, the return on investment for most homeowners is usually rewarding, with a net average savings of about $16,000 over 20 years on utility bills.
To calculate your potential ROI and connect with a local solar installer, 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 installation company since trying to put up solar panels by yourself can be time-consuming. Also, companies with a high reputation that cost more upfront could actually save you money in the long run due to their warranties, repair services and expert design.
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
See all of the solar companies in Marion
Factors that Affect Solar Panel Costs in Marion
There are a number of factors that can affect your installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar panels.
Solar Equipment
When it comes to estimating the cost of solar panels 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 primarily 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.Some solar brands — like Maxeon from SunPower — cost more upfront but also tend to offer higher efficiency. In a city like Marion, where sunlight is relatively abundant, efficiency can quickly pay off. In addition, if you have a small roof or you don’t have a lot of space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Most solar installers in Marion have solar loans, which reduce your upfront costs of installing solar.However, the interest on solar loans also adds to your all-in costs, so it’s vital to keep that in mind as well. You can always bring down the total you pay in interest and in some cases even your APR by putting more money down.
Solar Panel Installation Company
A final factor to keep in mind when trying to figure out the cost of solar for your home or business in Marion is the company you get to install your solar panel system. As with choosing a company to build a deck or pool, for example, you’ll have no shortage of solar installers that offer a range of services for different budgets.The size of the company sometimes plays the most considerable role in the cost. Larger national companies, like SunPro and Sunrun, often have lower prices because of greater resources and bulk 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 lower to compete with bigger names.
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 select the right company for you, here are some tips to keep in mind:
- Installation Process: Get detailed information from your solar installer about the installation process and what to expect, such as when the site survey will be done and how long it will take.
- Reputation: Make sure your solar installer has a good reputation by verifying it has certifications and licenses, checking its number of years in business and reading reviews by past customers and solar experts like EcoWatch.
- Warranty: A comprehensive, 25-year warranty can help keep your solar panels running for a long time and save you money on part replacement and repairs.
- Contract: It’s important to read through your solar installer’s contract well to understand what services they will provide, what the warranty covers and what you can expect about the cost.
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
How much does it cost to install 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 real cost will depend on certain factors such as the kind 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 attractive choice, because it typically comes with low or $0 upfront payments. The downside is that you won’t be able to save as much. If you lease, you don’t own the system, so you can’t claim any incentives and your home value won’t increase. Buying solar panels is a better way to go if you want to get the most savings.
Is switching to solar power worth it?
Whether or not solar panels are worth it depends on a variety of factors like how much you pay for electricity and the amount of direct sunlight your roof gets.
How long do solar panels last in Marion?
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.