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.To cover the typical energy needs of the average home in McLeansboro, most homeowners require a 6.1-kilowatt system. Using the per-watt figure above, a solar installation costs about $16,056, or $22,960 before the federal solar tax credit of 0 is applied.
The prices above are just estimates to give you an idea of how much a solar energy system could cost. The exact cost of making the switch to solar can vary based on multiple factors, such as what size system you need, your energy consumption and what solar installer you go with.Many homeowners find installing a solar panel system is a fruitful investment. The average homeowner in McLeansboro can save about $17,000 on their energy bills over 20 years.
Click the button below to get connected to a vetted solar company in your area for a custom estimate.
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
Although you can install solar panels yourself, it requires extra energy and handiness. Because of that, the majority of homeowners choose to go with a solar panel installer. Another good thing about choosing 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 put together a list of our top suggestions here:
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
Best Technology
Tesla Energy
- 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 McLeansboro
Factors that Affect Solar Panel Costs in McLeansboro
There are a number of criteria that can affect your solar system installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that does the installation.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to some different factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems that have higher efficiency or power production require better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $3,760.The type of solar panels and equipment you want is another factor that will significantly impact costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to come at a higher price. Further, solar equipment is more than just the solar panels themselves. You’ll also need to decide on the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when searching for a solar system that’s in your budget.
Solar Financing Terms
If paying for solar panels out of pocket is too expensive, solar loans are a solid choice because they decrease your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years.However, the interest on solar loans also increases your overall costs, so it’s crucial to consider that as well. You can always reduce the total you pay in interest and sometimes even your APR by making a larger down payment.
Solar Panel Installation Company
The solar company you choose to handle your switch to sustainable energy can have an effect on your total costs. There are about 3 solar panel companies operating in McLeansboro, and each can charge different amounts for labor and equipment.Additionally, some companies in McLeansboro have more knowledge about local solar incentives and can help you make good use of additional rebates or tax exemptions. However, they may charge more for walking you through the whole process. 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
There are many solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you select the right company for you, here are some tips to keep in mind:
- Contract: Before signing a contract with a solar installer, make sure to look it over fully so you understand the terms. Also, ask questions if you’re unsure about some of the terms, such as what to do if a component breaks or malfunctions and if there are any guarantees about energy production.
- Installation Process: When going solar, it’s important to keep an open line of communication with your solar installer. Make sure you understand how the installation process works and the project completion timeline.
- Warranty: Each company may offer different kinds of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Solar Panel Brands: Different companies carry various brands and kinds of panels. If you know you want a specific brand, make sure the solar panel installer you’re considering has it.
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
Best Technology
Tesla Energy
- 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 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 certain factors such as the type of solar panels you want, what size system you need and how much energy you consume.
What other factors should I consider aside from cost when buying solar panels?
The upfront cost is a crucial factor to consider, but whether it’s the most important for you depends on your reasons for going solar. In areas where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to think about are the quality and durability of your solar panels.
Can you sell solar power back to the grid in McLeansboro?
Most states offer net metering programs of some kind. Through these, you can either get paid for the extra power your system produces or or receive credits to put toward future electricity bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.
How long do solar panels last in McLeansboro?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger amount 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.