Solar Panel Cost Guide in Middleport, IL (2023 Update)
- Middleport Solar Installation Cost: $12,192
- 25-Year Savings: $13,085
- Payback Period: 12.1 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Middleport
Find out what the average cost of a solar system is in Middleport.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Middleport, the typical cost of a solar system is 2.73 per watt. The average Middleport homeowner needs a 6.4-kilowatt system, which would cost about $12,192 with the federal tax credit, or $17,435 before the 30% tax credit is applied.
Bear in mind that the figures above are only estimates based on the average energy use of Middleport homeowners. The price of a solar system for your home may be different depending on factors unique to your situation, like your household energy use and solar contractor. But, once you've paid the upfront cost of installation, the savings for most homeowners is typically rewarding, with a net average savings of about $15,000 over 20 years on energy bills.
To receive a free estimate from a vetted solar installation company in Middleport, you can click the button below.
Solar savings over time in Middleport
| Year | Return on Investment |
|---|---|
| 1 years | $-11,181 |
| 3 years | $-9,159 |
| 5 years | $-7,137 |
| 7 years | $-5,115 |
| 9 years | $-3,092 |
| 11 years | $-1,070 |
| 13 years | $952 |
| 15 years | $2,974 |
| 17 years | $4,996 |
| 19 years | $7,019 |
| 21 years | $9,041 |
| 23 years | $11,063 |
| 25 years | $13,085 |
Top Solar Installers in Middleport
Although you can install solar panels by yourself, it involves extra labor and know-how. That's why most homeowners choose to go with a solar panel installer. Companies can also offer access to a large variety of the best solar panels and help you pick which one will be right for your home.
You can get a free estimate from a local solar installer on how much your investment in solar could cost for your home. Here are some near you:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
See all of the solar companies in Middleport
Factors that Affect Solar Panel Costs in Middleport
Cost is usually one of the most important factors for homeowners who are considering investing in solar. There are a few primary factors that affect your total cost in Middleport: solar equipment and system size, financing options and the solar installation company you choose. We'll discuss each of these briefly below.
Solar Equipment
The size of the solar system you need to offset your energy usage, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by about $2,730. There are a lot of different solar panel brands and the one you pick also changes the cost. Generally speaking, the brands that have better efficiency tend to also cost more. In addition, the type of equipment you want to install can affect your total cost. If you only need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Most solar companies in Middleport have solar loans, which reduce your upfront costs of installing solar. However, the interest on solar loans also increases your all-in costs, so it's important to keep that in mind as well. You can always reduce the total you pay in interest and possibly even your APR by making a larger down payment.
Solar Panel Installation Company
The solar installer you pick will affect your total cost to adopt solar energy. Different companies will bill different amounts for the equipment and labor. You may notice national solar installers that have lower prices because of their larger brand name and access to bulk equipment prices, or you might see small, local installation companies offering deals or promotions to compete with those major players.
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 | $11,841 | 12.5 years |
| 8 kW | $2.78 | $15,594 | $16,094 | 12.3 years |
| 10 kW | $2.73 | $19,110 | $20,500 | 12.1 years |
| 12 kW | $2.68 | $22,473 | $25,059 | 11.8 years |
| 14 kW | $2.62 | $25,684 | $29,770 | 11.6 years |
| 16 kW | $2.57 | $28,741 | $34,635 | 11.3 years |
| 18 kW | $2.51 | $31,646 | $39,652 | 11.1 years |
| 20 kW | $2.46 | $34,398 | $44,822 | 10.9 years |
How to Save on Solar Panels
The solar company you go with will influence not only your total costs, but also the kinds 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 keep in mind, including:
- Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and how much efficiency they need. While there are many options for which kind of solar panel you can get, not every company will have the exact one you may want or need, so be sure to peruse their list of options before making your decision.
- Contract: When reading over your solar company's contract, ask for clarification about any terms you're not sure of and make sure you understand what happens in scenarios like a system component breaking or the company going out of business.
- Reputation: Solar panel companies that have great reviews from their customers and that have been operating for many years most likely offer good-quality solar panel installation and expertise.
- Installation Process: An important thing to understand when going solar is the installation process itself. Be sure to align on any details you need to know with your solar company, such as what permits you should acquire and how long the project will take.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
EcoWatch's Middleport, IL Solar Cost FAQs
What is the average cost of installing solar panels in Middleport?
This is a tough question to answer precisely, because the cost depends on a variety of factors. Generally speaking, it costs about $13,650 for a 5-kW system and $27,300 for a 10-kW system after the ITC is applied. It will be more expensive if you want extra solar equipment or higher quality panels, or if you have above-average energy usage. On the flip side, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.
Should I lease or buy solar panels in Middleport?
Leasing solar panels can be an attractive choice, because it typically comes with low or $0 upfront payments. The drawback 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 incentives and your home value won't increase. Buying solar panels is a better option if you want to maximize your savings.
Is it worth going solar in Middleport?
Whether or not solar panels are worth it depends on a variety of factors like the cost of electricity near you and the amount of direct sunlight your roof gets.
What solar power system size is right for my home?
To figure out what solar panel system size you need, you need to know how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can typically 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.