Solar Panel Cost Guide in Mattoon, IL (2024 Update)
- Mattoon Solar Installation Cost: $16,523
- 25-Year Savings: $13,877
- Payback Period: 16.0 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 Mattoon
Find out what the average cost of a solar system is in Mattoon.
The national average cost of solar panels is $2.66 per watt, but in Mattoon it’s 4 per watt.To account for the typical energy needs of the average home in Mattoon, most homeowners require a 6.3-kilowatt system. Using the figure above, a solar installation costs about $16,523, or $23,628 before the federal solar tax credit of 0 is applied.
How much you pay can be higher or lower than the average in Mattoon based on a variety of factors, such as the model of solar panels you choose and the solar company you hire.For most homeowners, the upfront investment in solar power is worth paying. On average Mattoon homeowners see about $16,000 in savings on electricity bills over 20 years.
To see your potential ROI and connect with a local solar installer, click the button below.
Solar savings over time in Mattoon
| Year | Return on Investment |
|---|---|
| 1 years | $-15,672 |
| 3 years | $-13,971 |
| 5 years | $-12,270 |
| 7 years | $-10,568 |
| 9 years | $-8,867 |
| 11 years | $-7,166 |
| 13 years | $-5,465 |
| 15 years | $-3,763 |
| 17 years | $-2,062 |
| 19 years | $-361 |
| 21 years | $1,341 |
| 23 years | $3,042 |
| 25 years | $4,743 |
Top Solar Installers in Mattoon
Although it's possible to install solar panels on your own, it takes extra energy and knowledge. That's why most homeowners choose a solar panel installer. The expertise that solar installers offer can be useful as well, especially if you aren’t sure what kind of solar equipment would be right for your home.
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 in Mattoon:
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 Mattoon
Factors that Affect Solar Panel Costs in Mattoon
The cost of installing a solar system in Mattoon can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The biggest one is the size of the system your household needs, and other factors include the equipment you choose, financing options and the solar company you choose.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a few different factors. One of the major factors is the system size, which is measured in kilowatts (kW). Solar power systems that have higher efficiency or power generation use better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $3,760.The kind of solar equipment you choose can increase or decrease your cost 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 over time on your power bills. Additionally, add-on products, like solar batteries, can bump up your total well above the Mattoon average.
Solar Financing Terms
Solar panels can save you money on energy bills over time, but they can also be a big investment. That’s why many Mattoon homeowners choose to finance their solar panel systems to make going solar more affordable.However, the interest on solar loans also adds to your all-in costs, so it’s vital to take that into consideration as well. You can always bring down the total you pay in interest and sometimes even your APR by putting more money down.
Solar Panel Installation Company
The solar installer you choose to handle your switch to solar energy can play a part in your total costs. There are about 3 solar installation companies in Mattoon, and each can charge varying amounts for labor and equipment.Additionally, some companies in Mattoon have more knowledge about local solar incentives and can help you make good use of additional rebates or tax exemptions. Though, they may charge more for walking you through the whole process. Even if they cost more upfront, they could end up saving you 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 | $3.91 | $16,424 | $8,306 | 16.6 years |
| 8 kW | $3.84 | $21,477 | $11,495 | 16.3 years |
| 10 kW | $3.76 | $26,320 | $14,895 | 16.0 years |
| 12 kW | $3.68 | $30,952 | $18,506 | 15.6 years |
| 14 kW | $3.61 | $35,374 | $22,327 | 15.3 years |
| 16 kW | $3.53 | $39,585 | $26,359 | 15.0 years |
| 18 kW | $3.46 | $43,586 | $30,602 | 14.7 years |
| 20 kW | $3.38 | $47,376 | $35,055 | 14.4 years |
How to Save on Solar Panels
The solar company you choose will affect not only your overall costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are some important things you should take into account, including:
- 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 expectations you should have about your solar system’s energy production.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for clean energy professionals. If your solar panel installer is NABCEP-certified, it likely has a good reputation and is qualified to do the job well. Another way you can check your installer’s reputation is by reading reviews.
- Installation Process: When going solar, it’s necessary to maintain an open line of communication with your solar panel installer. See to it that you understand how the installation process works and the project completion timeline.
- Solar Panel Brands: Not all solar installers carry the same brands of solar panels, so the brand and type of panel you want can play a considerable role in the company you opt for.
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 Mattoon, IL Solar Cost FAQs
How much does it cost to install solar panels in Mattoon?
The average cost of solar panels in Mattoon 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 stuff such as the type of solar panels you want, what size system you need and how much energy you use.
Is it better to lease or buy solar panels in Mattoon?
Leasing solar panels can be an option if you can’t afford 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 home 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.
How will having solar panels impact the value of my home?
Installing solar panels on your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Mattoon is currently $101,755, so you could be looking at a value of about $4,172 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Mattoon is a rewarding investment.
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 replace them after having them for that long or you can continue to use 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.