Solar Panel Cost Guide in Rantoul, IL (Mar 2023)
- Rantoul Solar Installation Cost: $12,058
- 25-Year Savings: $15,178
- Payback Period: 11.1 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated March 14, 2023
Why you can trust EcoWatch
Average Cost of Solar Panels in Rantoul
We go over average solar pricing in Rantoul.
The national average cost of solar panels is $2.66 per watt, but in Rantoul it's 2.73 per watt. Using this figure, a typical 6.3-kW system would cost about $12,058 before the 30% federal solar tax credit is applied.
The prices above are just estimates to give you an idea of the cost of a solar energy system. The exact cost of making the switch to solar can vary quite a bit depending on several factors, such as what size system you need, your energy usage and what company you go with. Many homeowners find installing a solar system is a solid investment. The average homeowner in Rantoul can save about $16,000 on their energy bills over 20 years.
You can click the button below to get connected with a top solar company in Rantoul that can help you get a more accurate cost estimate for your home.
Solar savings over time in Rantoul
| Year | Return on Investment |
|---|---|
| 1 years | $-10,969 |
| 3 years | $-8,790 |
| 5 years | $-6,611 |
| 7 years | $-4,432 |
| 9 years | $-2,253 |
| 11 years | $-74 |
| 13 years | $2,105 |
| 15 years | $4,283 |
| 17 years | $6,462 |
| 19 years | $8,641 |
| 21 years | $10,820 |
| 23 years | $12,999 |
| 25 years | $15,178 |
Top Solar Installers in Rantoul
Although it's possible to install solar panels yourself, it takes extra effort and knowledge. For that reason, most homeowners choose to go with a solar panel installer. Local solar installation companies can also help you maximize your return on investment by walking you through any local incentives you can benefit from and by providing warranties and repairs.
If you're searching for a solar company in Rantoul, we've 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 Rantoul
Factors that Affect Solar Panel Costs in Rantoul
Cost is typically one of the most important factors for homeowners wanting to invest in solar. There are a few key factors that determine your overall cost in Rantoul: solar equipment and system size, financing options and the solar installation company you choose. We'll cover each of these briefly below.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of going solar. For that reason, it's crucial to accurately assess the size of the solar energy system needed for your home by figuring out your energy needs. Some solar panel brands — like Maxeon from SunPower — are more costly upfront but also tend to offer higher efficiency. In a city like Rantoul, where sunlight is relatively abundant, efficiency can quickly pay off. Also, if you have a small roof or you don't have a lot of 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
Solar panels can save you money on energy bills over many years, but they can also be a big investment. That's why many Rantoul homeowners decide to finance their solar panel systems to offset upfront costs. You'll have to consider the long-term cost of loans, including the amount of interest you'll pay over the length of the loan. If you're only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the principal cost. Making a larger down payment or getting a solar loan with a low interest rate could reduce your costs remarkably.
Solar Panel Installation Company
Finally, the company you choose to install your solar panel system can affect the cost. Rantoul's solar companies all have different labor costs and add varying upcharges to equipment. You may see national solar installers that have lower prices because of their bigger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or promotions to compete with those larger companies.
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 | $13,964 | 11.5 years |
| 8 kW | $2.78 | $15,594 | $18,925 | 11.3 years |
| 10 kW | $2.73 | $19,110 | $24,038 | 11.1 years |
| 12 kW | $2.68 | $22,473 | $29,304 | 10.9 years |
| 14 kW | $2.62 | $25,684 | $34,723 | 10.6 years |
| 16 kW | $2.57 | $28,741 | $40,295 | 10.4 years |
| 18 kW | $2.51 | $31,646 | $46,020 | 10.2 years |
| 20 kW | $2.46 | $34,398 | $51,898 | 10.0 years |
How to Save on Solar Panels
There are a large number of companies available in Rantoul, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be difficult, so here are some tips to help you decide:
- Warranty: A comprehensive, 25-year warranty can help keep your solar panels running smoothly and save you money on repairs and maintenance.
- Solar Panel Brands: Not all solar companies offer the same brands of solar panels, so the brand and type of panel you want can play a large role in the company you opt for.
- 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 good reputation and is qualified to install your solar system. Another way you can research your installer's reputation is by reading reviews.
- Contract: Before you sign a contract with a solar company, make sure to read it through fully so you understand the terms. Also, ask questions if you're unsure about some of the terms, such as what to do if a part breaks or malfunctions and if there are any guarantees about energy production.
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 Rantoul, IL Solar Cost FAQs
What is the average cost of installing solar panels in Rantoul?
The average cost of solar panels in Rantoul is about $13,650 for a 5-kW system and $27,300 for a 10-kW system before the ITC, but the real cost will depend on certain factors like the kind of solar panels you want, what size system you need and how much energy you consume.
Is cost the most important thing to consider 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.
Can you sell solar power back to the grid in Rantoul?
Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just offer you credit toward your future power bills.
How long do solar panels last in Rantoul?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is their energy production will have decreased significantly after that point. You can choose to replace them once you've had them for that long or you can keep using 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.