Solar Panel Cost Guide in Mercer, IL (2024 Update)
- Mercer Solar Installation Cost: $16,867
- 25-Year Savings: $7,562
- Payback Period: 21.3 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated February 03, 2024
Why you can trust EcoWatch
Average Cost of Solar Panels in Mercer
See how much it might cost to make the switch to solar in Mercer.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Mercer, the typical cost of solar panels is 4 per watt.Since a 6.4-kW system is needed to cover the energy usage of a typical home in Mercer, the average price of going solar will be about $16,867 after claiming the federal solar tax credit of 0.
How much you pay can go higher or lower than the average in Mercer depending on several factors, such as the type of solar panels you choose and the solar installer you hire.For most homeowners, the upfront investment in solar power is worth paying. On average Mercer homeowners see about $12,000 in savings on energy bills over 20 years.
You can click the button below to get connected with a pre-vetted solar company in Mercer for a quote for your home.
Solar savings over time in Mercer
Year | Return on Investment |
---|---|
1 years | $-16,026 |
3 years | $-14,344 |
5 years | $-12,662 |
7 years | $-10,980 |
9 years | $-9,298 |
11 years | $-7,616 |
13 years | $-5,934 |
15 years | $-4,252 |
17 years | $-2,570 |
19 years | $-888 |
21 years | $794 |
23 years | $2,476 |
25 years | $4,158 |
Top Solar Installers in Mercer
When making the switch to solar, many homeowners prefer to use a solar installation company since handling can be a difficult project. The payback period of solar panels will vary depending on factors like your roof configuration and energy consumption, but going with a solar company can shorten it. Your provider will be able to help you apply for incentives available in your area.
Working with a licensed solar installer can help your solar project go smoothly. Here are our recommendations:
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 Mercer
Factors that Affect Solar Panel Costs in Mercer
Cost is usually one of the most important factors for homeowners who want to invest in solar. There are a few key factors that determine your overall cost in Mercer: solar equipment and system size, financing options and the solar installation company you choose. We’ll cover each of these briefly below.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of installing solar panels. Because of that, it’s crucial to accurately assess the size of the solar energy system needed for your home by figuring out your energy needs.There are several different solar panel brands and the one you choose also changes the cost. Generally, the brands that offer higher efficiency tend to also cost more. Plus, the type of equipment you’re looking to install can affect your total cost. If you only need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be challenging. Solar loans are provided by most installers in Mercer, which can bring down, or in some cases eliminate, your upfront costs to make solar more accessible.Even though solar loans make switching to solar energy more accessible for Mercer homeowners, they can also increase the total you pay for your system due to interest. If you make a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The solar panel installer you select will impact your total cost to make the switch to solar . Different companies will bill different amounts for the equipment and labor.The size of the company sometimes plays the most considerable role in the installation costs. Larger national companies, like SunPro and Sunrun, often have lower pricing due to access to more resources and better pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or promotion can bring their pricing down to compete with bigger companies.
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 | $2,123 | 22.1 years |
8 kW | $3.84 | $21,477 | $3,251 | 21.7 years |
10 kW | $3.76 | $26,320 | $4,591 | 21.3 years |
12 kW | $3.68 | $30,952 | $6,140 | 20.9 years |
14 kW | $3.61 | $35,374 | $7,901 | 20.4 years |
16 kW | $3.53 | $39,585 | $9,872 | 20.0 years |
18 kW | $3.46 | $43,586 | $12,053 | 19.6 years |
20 kW | $3.38 | $47,376 | $14,445 | 19.2 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 pick the right company for you, here are some tips to keep in mind:
- Installation Process: Homeowners should understand how exactly the installation process will be carried out, as well as important factors like the project timeline.
- Solar Panel Brands: Each solar panel brand and type has varying levels of quality, durability and efficiency. They will come at different prices as well. The company you choose affects which solar panel brands you have access to.
- Contract: When looking over your solar company’s contract, ask for clarification about any terms you’re not sure of and be sure you understand what happens in scenarios such as a system component breaking or if the company goes out of business.
- Reputation: Companies that have been in business for many years likely have a solid reputation. This is important because it ensures that it will not only see your solar project through, but will also provide adequate aftercare and customer service, such as part repairs and replacements.
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 Mercer, IL Solar Cost FAQs
How much does it cost to install solar panels in Mercer?
This is a hard question to answer exactly, because the cost depends on a variety of factors. Broadly speaking, it costs about $18,800 for a 5-kW system and $37,600 for a 10-kW system after the ITC is applied. It will cost more if you want other solar equipment or more efficient panels, or if you have above-average energy usage. Conversely, you can spend less if you want a smaller solar panel system or less efficient solar panels.
What other factors should I consider apart from cost when buying solar panels?
Cost is a crucial factor to consider, but whether it’s the most important for you depends on your reasons for going solar. In cities where rooftop space is limited, efficiency can trump 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 Mercer?
The majority of states have net metering programs of some kind. Through these, you can get paid for the extra power your system produces or or receive credits to put toward future utility 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?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is how much energy they produce will have decreased significantly after that point. You can decide to 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.