Solar Panel Cost Guide in Mercer, IL (2025 Update)
- Mercer Solar Installation Cost: $16,867
- 25-Year Savings: $7,562
- Payback Period: 21.3 Years
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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 costs 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.
The prices above are just estimates to give you an idea of the cost of a solar energy system. The actual cost of installing solar panels can vary based on several factors, such as how many panels you need, your energy usage and what company you go with.For many homeowners, the upfront cost of solar is worth paying. On average you could be looking at about $12,000 in savings on energy bills over 20 years.
Click the button below to get connected to a reputable solar installer in your area for a customized estimate.
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
Although you can install solar panels on your own, it takes extra time and knowledge. For that reason, most people choose a solar panel installer. Another benefit of using a solar company is that they can help you make the most of your ROI by cutting back on future costs of repairs and replacements because of warranties and giving you information on local incentives you can take advantage of.
If you’d like to make the switch to solar but still aren’t certain which solar system installer to go with, here are our suggestions for providers in Mercer:
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 considering investing 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
When it comes to estimating the cost of a solar energy system in Mercer, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are chiefly based on your home’s energy consumption, which you can figure out by looking at past energy bills. Your total cost can increase by around $3,760 for each additional kilowatt you need.Some solar panel brands — like Maxeon from SunPower — cost more upfront but also tend to offer better efficiency. In a city like Mercer, where sunlight is relatively abundant, efficiency can quickly pay off. Also, if you have a small roof or limited space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
If paying for solar panels out of pocket is too expensive, solar loans are an affordable choice because they decrease your upfront costs and let you pay for your system over a term of, on average, between five and seven years.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 a lot of solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you decide on the right company for you, here are some tips to keep in mind:
- Installation Process: Make sure you’re on the same page with the company with regard to how the installation process will go and what needs to be done before your solar panels are installed, such as updating or replacing your electrical system or roof.
- Solar Panel Brands: Different companies carry different brands and kinds of panels. If you know you want a specific brand, make sure the solar panel company you’re considering has it.
- Contract: When looking over your solar installer’s contract, ask for clarification about any terms you’re not sure of and be sure you understand what happens in scenarios like a system part breaking or if the company goes out of business.
- Reputation: Companies that have been in business for many years likely have a high 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.
EcoWatch's Mercer, IL Solar Cost FAQs
How much does it cost to install solar panels in Mercer?
This is a difficult question to answer precisely, because the cost depends on a variety of factors. Generally 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 additional solar equipment or higher quality panels, or if you have above-average energy needs. On the other hand, you can spend less if you choose a smaller solar panel system or less efficient solar panels.
What other factors should I consider other than cost when buying solar panels?
Cost is definitely one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Can you sell solar power back to the grid in Mercer?
The majority of states offer net metering programs of some kind. Through these, you can get paid for the extra power your system generates 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 long do solar panels last in Mercer?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases 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.