Solar Panel Cost Guide in Paxton, IL (Mar 2023)
- Paxton Solar Installation Cost: $12,192
- 25-Year Savings: $13,085
- Payback Period: 12.1 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Paxton
We break down average solar pricing in Paxton.
In Paxton, solar panels cost about 2.73 per watt on average. Since a 6.4-kW system is needed to cover the energy costs of a typical home in Paxton, the average price of going solar will be about $12,192 after claiming the federal solar tax credit of 30%.
Keep in mind that the numbers above are only averages. The price you'll end up paying for solar will differ based on your household energy needs, the type of solar panels you want, your solar contractor and more. Many homeowners find adopting solar power is a rewarding investment. The average homeowner in Paxton can save about $15,000 on their energy bills over 20 years.
You can click the button below to get connected with a top solar installer in Paxton for a quote for your home.
Solar savings over time in Paxton
| 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 Paxton
Many homeowners opt for a solar installer since trying to install solar panels yourself can be a lot of work. Plus, if you're not certain what type of solar panels and equipment you may need, a solar company can help you find the right equipment for you after a site survey and consultation.
If you're looking for a solar installer in Paxton, 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 Paxton
Factors that Affect Solar Panel Costs in Paxton
Cost is usually one of the most important factors for homeowners wanting to invest in solar. There are a few primary factors that determine your overall cost in Paxton: solar equipment and system size, financing options and the solar installation company you choose. We'll discuss each of these briefly below.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more energy your household uses, the larger your system will likely need to be. You can expect to pay about $2,730 per kilowatt in Paxton. There are several different solar panel brands and the one you pick also affects the cost. In general, the brands that have better efficiency tend to also be more expensive. Plus, the type of equipment you're looking to get can affect your total cost. If you just need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
If paying for a solar system out of pocket is out of reach, solar loans are a solid choice because they cut back your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years. When trying to figure out your overall cost, you should also calculate the interest you'll pay if you opt for a solar loan. Also, paying more on your down payment can reduce the total interest paid over time.
Solar Panel Installation Company
A final factor to keep in mind when trying to estimate the cost of solar for your home or business in Paxton is the company you get to install your solar system. Similar to choosing a company to install new cabinets, for instance, there's no shortage of solar installers that provide a range of services for different budgets. The size of the company can sometimes play the most considerable role in your total costs. Larger national companies, like SunPro and Sunrun, often have lower pricing because they have access to greater resources and bulk 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 names.
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 | $11,863 | 12.5 years |
| 8 kW | $2.78 | $15,594 | $16,124 | 12.3 years |
| 10 kW | $2.73 | $19,110 | $20,537 | 12.1 years |
| 12 kW | $2.68 | $22,473 | $25,103 | 11.8 years |
| 14 kW | $2.62 | $25,684 | $29,822 | 11.6 years |
| 16 kW | $2.57 | $28,741 | $34,694 | 11.3 years |
| 18 kW | $2.51 | $31,646 | $39,718 | 11.1 years |
| 20 kW | $2.46 | $34,398 | $44,896 | 10.8 years |
How to Save on Solar Panels
There are a lot of companies available in Paxton, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be difficult, so here are some tips to help you decide:
- Installation Process: Get details from your solar installer about the installation process and what to expect, including when the site survey will be done and how long it will take.
- Solar Panel Brands: The kind of solar panel you'd like to get plays a role in which company you should go with, since different companies have different panels.
- Contract: Before signing a contract with a solar installer, make sure you read it through completely so you understand the terms. Also, ask questions if you're not sure about some of the terms, such as what the warranty covers and if there are any guarantees about energy production.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a good reputation and is qualified to get the job done well. Another way you can check 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 (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 Paxton, IL Solar Cost FAQs
How much does it cost to install solar panels in Paxton?
This is a difficult question to answer exactly, because the cost depends on many 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. You can expect to pay more if you want other solar equipment or more efficient panels, or if you have higher-than-average energy usage. On the other hand, you can spend less if you choose a smaller solar panel system or less expensive solar panels.
What other factors should I consider in addition to cost when buying solar panels?
Cost is without a doubt one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
How much can I save on power bills after switching to solar?
It is possible to eradicate your electricity bills with solar panels, but for most homeowners in Paxton, that will require at least a 10-kW system. Not all homes will have the roof space for that size system, so you'll want to check with a local solar installer to see how many panels can fit on your roof.
How long do solar panels last in Paxton?
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 opt 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.