Solar Panel Cost Guide in McLeansboro, IL (2024 Update)
- McLeansboro Solar Installation Cost: $16,056
- 25-Year Savings: $15,004
- Payback Period: 15.1 Years
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Average Cost of Solar Panels in McLeansboro
Let’s take a look at the average cost of solar panels in McLeansboro.
The national average cost of solar panels is $2.66 per watt, but in McLeansboro it’s 4 per watt.Using this figure, a typical 6.1-kW system would cost about $16,056 before the 0 federal solar tax credit is applied.
The true cost of your system can be above or below the average in McLeansboro based on a few factors, such as the type of solar panels you choose and the solar company you hire.Even with the large initial cost, the average McLeansboro homeowner can save about $17,000 on their power bills over 20 years, which is one of the perks of solar.
To see your potential ROI and connect with a local solar expert, click the button below.
Solar savings over time in McLeansboro
| Year | Return on Investment |
|---|---|
| 1 years | $-15,206 |
| 3 years | $-13,504 |
| 5 years | $-11,803 |
| 7 years | $-10,102 |
| 9 years | $-8,401 |
| 11 years | $-6,699 |
| 13 years | $-4,998 |
| 15 years | $-3,297 |
| 17 years | $-1,595 |
| 19 years | $106 |
| 21 years | $1,807 |
| 23 years | $3,508 |
| 25 years | $5,210 |
Top Solar Installers in McLeansboro
DIY solar panel installation is a choice some homeowners opt for, but it's an undertaking that can take a lot of hard work. Going with a solar company can make swapping over to solar power much easier. Another good thing about going with a reliable solar installer is that it'll provide warranties and free repairs, which help protect your solar investment.
If you're on the hunt for a solar company in McLeansboro, the EcoWatch team has compiled a list of our top suggestions here:
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 McLeansboro
Factors that Affect Solar Panel Costs in McLeansboro
For many McLeansboro homeowners, the decision to adopt solar energy rests on cost. However, the range of solar installation costs can be quite wide in McLeansboro, with typical prices between $20,000 to $40,000. There are several factors that greatly influence the price you’ll pay, which we'll go over below.
Solar Equipment
When it comes to estimating the price of a solar panel system in McLeansboro, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home’s energy usage, which you can gauge by looking at past energy bills. Your overall cost can increase by about $3,760 for each additional kilowatt you need.The kind of solar panels and equipment you get is another factor that will largely affect costs. Solar panels that are more efficient, like monocrystalline panels, tend to come at a higher price. Furthermore, solar equipment is more than just the solar panels themselves. You’ll also need to think about the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when looking for a solar system that’s in your budget.
Solar Financing Terms
If paying for solar panels out of pocket is difficult, solar loans are a popular choice because they reduce your upfront costs and allow you to pay for your system over five to seven years on average.When considering your overall cost, you should also calculate the interest you’ll pay if you decide on a solar loan. Also, paying more on your down payment can reduce the total interest paid over time.
Solar Panel Installation Company
Lastly, the company you hire to install your solar system can affect the cost. McLeansboro’s solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in McLeansboro have more knowledge about local solar incentives and can help you take advantage 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 | $3.91 | $16,424 | $9,799 | 15.7 years |
| 8 kW | $3.84 | $21,477 | $13,486 | 15.4 years |
| 10 kW | $3.76 | $26,320 | $17,384 | 15.1 years |
| 12 kW | $3.68 | $30,952 | $21,493 | 14.8 years |
| 14 kW | $3.61 | $35,374 | $25,812 | 14.5 years |
| 16 kW | $3.53 | $39,585 | $30,342 | 14.2 years |
| 18 kW | $3.46 | $43,586 | $35,082 | 13.9 years |
| 20 kW | $3.38 | $47,376 | $40,033 | 13.6 years |
How to Save on Solar Panels
Since the kind of solar panels and the installer you choose has an impact on your costs and your system’s efficiency, production, and durability, it’s important to select the right ones for you. Here are some things to keep in mind to help with your decision:
- Contract: When reading through your solar installer’s contract, ask questions about any terms you’re not sure of and make sure you understand what happens in scenarios like a system component breaking or the company going out of business.
- 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 what the project timeline is.
- Warranty: A high-quality company rises above other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Solar Panel Brands: Different companies have different brands and types of panels. If you know you want a specific brand, make sure the solar panel company you’re considering has it.
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 McLeansboro, IL Solar Cost FAQs
How much does it cost to install solar panels in McLeansboro?
The average cost of solar panels in McLeansboro 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 things like the model of solar panels you want, what size system you need and how much energy you use.
What other factors should I consider other than cost when buying solar panels?
Cost is without a doubt one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
Can you sell solar power back to the grid in McLeansboro?
The majority of states have net metering programs of some kind. Through these, you can either receive compensation for the extra power your system generates or or receive credits to put toward future energy bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.
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 their energy production will have decreased significantly after that point. You can replace them after having 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.