Solar Panel Cost Guide in Middleport, IL (2024 Update)
- Middleport Solar Installation Cost: $16,796
- 25-Year Savings: $13,082
- Payback Period: 16.6 Years
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Average Cost of Solar Panels in Middleport
We go over average solar pricing in Middleport.
The national average cost of solar panels is $2.66 per watt, but in Middleport it’s 4 per watt.The average solar panel system size in Middleport is around 6.4 kilowatts, meaning a cost of about $16,796 for a solar installation, or $24,018 before the 0 federal solar tax credit is applied.
These figures are just averages, and the cost of going solar for you will differ based on your energy needs and what company you go with.Despite the significant initial cost, the average Middleport homeowner can save about $15,000 on their electricity bills over 20 years, which is one of the advantages of solar.
To receive a free estimate from a vetted solar installer in Middleport, you can click the button below.
Solar savings over time in Middleport
| Year | Return on Investment |
|---|---|
| 1 years | $-15,945 |
| 3 years | $-14,244 |
| 5 years | $-12,543 |
| 7 years | $-10,841 |
| 9 years | $-9,140 |
| 11 years | $-7,439 |
| 13 years | $-5,738 |
| 15 years | $-4,036 |
| 17 years | $-2,335 |
| 19 years | $-634 |
| 21 years | $1,068 |
| 23 years | $2,769 |
| 25 years | $4,470 |
Top Solar Installers in Middleport
Trying to put up solar panels yourself can be a difficult task, which is why getting a solar installer is a good option for many homeowners. Companies can also have access to quality options of the best solar panels and help you choose which one will be right for your home.
There are several licensed solar professionals that can help you install your solar system. Here are our suggestions:
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 Middleport
Factors that Affect Solar Panel Costs in Middleport
While the average cost of a solar system in Middleport is $16,796, your final cost may differ. There are several factors that can have a sizable impact on the cost of a residential solar panel installation. Below are some of the more important things to consider.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of installing solar panels. That’s why it’s a priority to accurately ascertain the size of the solar energy system needed for your home by figuring out your typical energy use.Some solar panel brands — like Maxeon from SunPower — cost more upfront but also tend to offer higher efficiency. In a city like Middleport, where sunlight is relatively abundant, efficiency can quickly pay off. Plus, if you have a small roof or you don’t have a lot of space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
If paying for solar panels in cash is difficult, solar loans are a popular 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.It’s wise to include the interest you’ll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and how long it’ll take to pay back the loan.
Solar Panel Installation Company
The final significant cost factor you should consider is the installer you choose. Given the booming popularity of clean energy solutions in Middleport, you’ll have lots of options to choose from, but each comes at different price points for labor and equipment.The size of the company can sometimes play the most considerable role in the cost. Larger national companies, like SunPro and Sunrun, often have lower pricing because of 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 lower 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 | $7,342 | 17.3 years |
| 8 kW | $3.84 | $21,477 | $10,211 | 16.9 years |
| 10 kW | $3.76 | $26,320 | $13,290 | 16.6 years |
| 12 kW | $3.68 | $30,952 | $16,580 | 16.3 years |
| 14 kW | $3.61 | $35,374 | $20,080 | 15.9 years |
| 16 kW | $3.53 | $39,585 | $23,791 | 15.6 years |
| 18 kW | $3.46 | $43,586 | $27,712 | 15.3 years |
| 20 kW | $3.38 | $47,376 | $31,844 | 15.0 years |
How to Save on Solar Panels
The solar panel company you opt for will impact not only your total costs, but also the types of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are a few important things you should take into account, such as:
- Installation Process: One of the most important things to understand when adopting solar power 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 how long the project will take.
- Warranty: A high-quality company stands out from other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Solar Panel Brands: Not all solar installers carry the same brands of solar panels, so the brand and type of panel you want can play a substantial role in the company you choose.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for sustainable energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a solid reputation and is qualified to install your solar system. Another way you can research your installer’s reputation is by reading reviews.
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 Middleport, IL Solar Cost FAQs
How much does it cost to install solar panels in Middleport?
This is a tough question to answer precisely, 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 additional solar equipment or more efficient panels, or if you have above-average energy needs. Conversely, you can spend less if you opt for a smaller solar panel system or less expensive solar panels.
Is it better to lease or buy solar panels in Middleport?
Leasing solar panels can be an attractive choice, as it commonly comes with low or $0 upfront payments. The downside is that you won’t be able to save as much. If you lease, you don’t own the system, so you can’t claim any tax rebates and credits and your home value won’t increase. Buying solar panels is a better option if you want to maximize your savings.
How will installing solar panels impact my property value?
Solar panels can increase the value of your home remarkably as long as you buy or finance your panels and don’t choose a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% with a solar installation."
How often do you have to replace solar panels?
On average, the lifespan of solar panels is 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 higher 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.