Solar Panel Cost Guide in Mcleansboro, IL (Mar 2023)
- Mcleansboro Solar Installation Cost: $11,657
- 25-Year Savings: $15,005
- Payback Period: 10.9 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Mcleansboro
See how much it might cost to install solar panels in Mcleansboro.
The average cost of a solar system in Mcleansboro is 2.73 per watt. To account for 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 $11,657, or $16,670 before the federal solar tax credit of 30% is applied.
These figures are just averages, and how much solar costs for you will most likely differ based on your energy needs and what company you go with. With typical savings of about $17,000 on power bills over 20 years, many homeowners in Mcleansboro find investing in solar can be quite rewarding.
To get a free quote from a vetted solar installation company in Mcleansboro, you can click the button below.
Solar savings over time in Mcleansboro
| Year | Return on Investment |
|---|---|
| 1 years | $-10,591 |
| 3 years | $-8,458 |
| 5 years | $-6,325 |
| 7 years | $-4,192 |
| 9 years | $-2,059 |
| 11 years | $74 |
| 13 years | $2,207 |
| 15 years | $4,340 |
| 17 years | $6,473 |
| 19 years | $8,606 |
| 21 years | $10,739 |
| 23 years | $12,872 |
| 25 years | $15,005 |
Top Solar Installers in Mcleansboro
Although you can install solar panels by yourself, it requires extra time and handiness. For that reason, most people choose to go with a solar panel installer. Companies can also provide access to a large variety of the best solar panels and help you choose which one will be best for you.
If you're on the hunt for a solar installer 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 (coming 2022)
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
Even though the average cost of a solar system in Mcleansboro is $11,657, your actual cost may differ. There are quite a few factors that can have a major impact on the cost of a solar system installation. Below are some of the more important things to keep in mind.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to some different factors. One of the main factors is the system size, which is measured in kilowatts (kW). Solar power systems that have higher efficiency or power production need 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 $2,730. The type of solar panels and equipment you get is another factor that will substantially affect costs. Solar panels that are more efficient, like monocrystalline panels, tend to come at a higher price. Moreover, solar equipment goes beyond just the solar panels themselves. You'll also need to consider the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when researching a solar system that falls within your budget.
Solar Financing Terms
If paying for solar panels in cash is too expensive, solar loans are a solid route because they lower your upfront costs and allow you to pay for your system over five to seven years on average. However, the interest on solar loans also increases your overall costs, so it's vital to take that into consideration as well. You can always lower the total you pay in interest and possibly even your APR by making a larger down payment.
Solar Panel Installation Company
The solar panel installer you choose will play a role in your total cost to go solar. Different companies will charge different amounts for the equipment and labor. Larger national companies usually have lower costs, but some local companies undercut them by promoting sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or additional services like electric car charger installation, they might be cheaper overall.
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 | $14,298 | 11.4 years |
| 8 kW | $2.78 | $15,594 | $19,370 | 11.2 years |
| 10 kW | $2.73 | $19,110 | $24,594 | 10.9 years |
| 12 kW | $2.68 | $22,473 | $29,972 | 10.7 years |
| 14 kW | $2.62 | $25,684 | $35,502 | 10.5 years |
| 16 kW | $2.57 | $28,741 | $41,185 | 10.3 years |
| 18 kW | $2.51 | $31,646 | $47,022 | 10.1 years |
| 20 kW | $2.46 | $34,398 | $53,011 | 9.8 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you decide on the right company for you, here are some tips to keep in mind:
- Solar Panel Brands: Not all solar companies offer the same brands of solar panels, so the brand and type of panel you want can play a large role in the company you go with.
- Warranty: A comprehensive, long-term warranty can help keep your solar panel system running for a long time and save you money on part replacement and repairs.
- Contract: Look through the contract terms thoroughly to make sure you understand the overall cost, project timeline rebates and warranties.
- Installation Process: One of the most important things to understand when adopting solar energy is the installation process itself. Be sure to align on any details you should know with your solar installer, such as what permits you should acquire and what the project timeline is.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
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 $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 things 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 Mcleansboro?
Solar panels aren't free in Mcleansboro, but there are some options that can make getting them more feasible, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can help lower the cost.
Can solar panels significantly reduce my power bills?
Solar panels can potentially eliminate your electricity bills depending on where you're located and the efficiency of your system. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $874.09 per year.
What solar power system size is right for my home?
To figure out what solar panel system size you need, you should find out how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average home 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.