Solar Panel Cost Guide in Marshall, IL (2023 Update)
- Marshall Solar Installation Cost: $12,001
- 25-Year Savings: $11,553
- Payback Period: 12.7 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Marshall
Here's how much it might cost to switch to solar power in Marshall.
The average cost of a solar panel system in Marshall is 2.73 per watt. Using this figure, a typical 6.3-kW system would cost about $12,001 before the 30% federal solar tax credit is applied.
These figures are just averages, and how much solar costs for you will look different based on your specific situation and what company you choose to go with. Many homeowners find installing a solar panel system is a fruitful investment. The average homeowner in Marshall can save about $14,000 on their electricity bills over 20 years.
For a free quote from a local solar installer that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Marshall
| Year | Return on Investment |
|---|---|
| 1 years | $-11,059 |
| 3 years | $-9,175 |
| 5 years | $-7,290 |
| 7 years | $-5,406 |
| 9 years | $-3,522 |
| 11 years | $-1,637 |
| 13 years | $247 |
| 15 years | $2,131 |
| 17 years | $4,016 |
| 19 years | $5,900 |
| 21 years | $7,784 |
| 23 years | $9,669 |
| 25 years | $11,553 |
Top Solar Installers in Marshall
Many homeowners opt for a solar panel company since installing solar panels yourself can be hard. Local solar installation companies can also help you maximize your return on investment by walking you through any local incentives and by offering warranties and repairs.
Working with a vetted solar installer can help you make the most of your investment in solar. 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 Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
See all of the solar companies in Marshall
Factors that Affect Solar Panel Costs in Marshall
For many Marshall homeowners, the decision to install a solar energy system comes down to cost. However, the range of solar installation costs can be quite wide in Marshall, with typical prices between $20,000 to $40,000. There are several factors that considerably influence the price you'll pay, which we'll go over below.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household uses, the larger your system will likely need to be. You can expect to spend around $2,730 per kilowatt in Marshall. Some solar panel brands — like Maxeon from SunPower — are more costly upfront but also tend to offer better efficiency. In a city like Marshall, where sunlight is relatively abundant, efficiency can quickly pay off. In addition, if you have a small roof or limited space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Solar panels can save you money on utility bills over time, but they can also be a big investment. That's why many Marshall homeowners choose to finance their solar panel systems to make going solar more affordable. It's wise to add the interest you'll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and the amount of time it'll take to pay off the loan.
Solar Panel Installation Company
Finally, the company you hire to install your solar system can impact the cost. Marshall's solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Marshall know more about local solar incentives and can help you make good use of additional rebates or tax exemptions. Though, they may charge more for that service. Even if they cost more upfront, they could help you save more money in the long run.
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 | $10,569 | 13.3 years |
| 8 kW | $2.78 | $15,594 | $14,398 | 13.0 years |
| 10 kW | $2.73 | $19,110 | $18,380 | 12.7 years |
| 12 kW | $2.68 | $22,473 | $22,515 | 12.5 years |
| 14 kW | $2.62 | $25,684 | $26,802 | 12.2 years |
| 16 kW | $2.57 | $28,741 | $31,243 | 12.0 years |
| 18 kW | $2.51 | $31,646 | $35,836 | 11.7 years |
| 20 kW | $2.46 | $34,398 | $40,582 | 11.5 years |
How to Save on Solar Panels
There are a lot of companies to choose from in Marshall, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be difficult, so here are some tips to help you decide:
- Reputation: Your solar installer should have a sound reputation as a company and have proven expertise in the field. Two ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has satisfied reviews from previous customers.
- 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 big role in the company you go with.
- Warranty: If you're worried about the endurance of your solar panels, ensuring your company offers a 25-year, all-inclusive warranty can help put you at ease.
- Contract: It's important to look over your solar installer's contract thoroughly to understand what services they will provide, what the warranty covers and what expectations you should have about the cost.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
EcoWatch's Marshall, IL Solar Cost FAQs
How much does it cost to install solar panels in Marshall?
The average cost of solar panels in Marshall is about $13,650 for a 5-kW system and $27,300 for a 10-kW system before the ITC, but the actual cost will depend on certain factors such as the model of solar panels you want, what size system you need and how much energy you use.
Can you get solar panels for free in Marshall?
You can't get solar panels for free in Marshall. However, you may still be able to install them on a lower budget. You can lease solar panels for a low upfront cost or, if you'd prefer to own your solar panels, you can finance them with a solar loan.
Does Marshall have a net metering program?
Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just give you credit toward your future power bills.
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 are completely unusable at that time. What this means is their energy production will have decreased significantly after that point. You can replace them once you've had 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.