Solar Panel Cost Guide in Marshall, IL (Jan 2023)

  • Marshall Solar Installation Cost: $12,001
  • 25-Year Savings: $11,553
  • Payback Period: 12.7 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated January 20, 2023

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 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 $3 per watt. Using this figure, a typical 6.3 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 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 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 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 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 real cost will depend on stuff such as the kind 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 get 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.

How will installing solar panels impact my property value?

Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Marshall is currently $114,000, so you can expect a value of about $4,674 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Marshall is a worthwhile investment.

What solar power system size is right for my home?

To figure out what solar panel system size you need, you need to know how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can generally produce about 250 to 400 watt-hours per hour, the average household will need 20 to 35 panels.

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.

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