Solar Panel Cost Guide in Urbana, IL (2024 Update)

  • Urbana Solar Installation Cost: $16,614
  • 25-Year Savings: $11,036
  • Payback Period: 18.0 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated February 03, 2024

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We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Urbana

Find out how much it might cost to install solar panels in Urbana.

In Urbana, solar panels cost about 4 per watt on average.Because a 6.3-kW system is needed to cover the energy usage of a typical home in Urbana, the average price of going solar will be about $16,614 after claiming the federal solar tax credit of 0.

These figures are just averages, and your own solar costs may look different based on the amount of energy your home requires and what company you want to go with.Many homeowners find adopting solar power is a rewarding investment. The average homeowner in Urbana can save about $14,000 on their energy bills over 20 years.

To receive a free quote from a top solar installer in Urbana, you can click the button below.

Solar savings over time in Urbana

Year Return on Investment
1 years $-15,763
3 years $-14,062
5 years $-12,361
7 years $-10,659
9 years $-8,958
11 years $-7,257
13 years $-5,556
15 years $-3,854
17 years $-2,153
19 years $-452
21 years $1,250
23 years $2,951
25 years $4,652

Top Solar Installers in Urbana

Although it's possible to install solar panels on your own, it takes extra time and knowledge. Because of that, most homeowners choose a solar panel installer. Some solar companies, especially local ones, can help you make the most of incentives in Urbana, therefore optimizing your ROI.

If you’d like to go solar but still aren’t sure which solar installer to go with, here are our recommendations for providers near you:

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Solar Financing

Blue Raven Solar

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries

Best for Leasing

Sunrun

★★★★★
4.0

  • 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 Urbana

Factors that Affect Solar Panel Costs in Urbana

For many Urbana homeowners, the decision to go solar rests on cost. However, the range of solar installation costs can be quite wide in Urbana, with typical prices between $20,000 to $40,000. There are a number of factors that greatly influence the price you’ll pay, which we'll go over below.

Solar Equipment

When it comes to estimating the cost of a solar energy system in Urbana, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home’s energy usage, which you can gauge by looking at past energy bills. Your overall cost can increase by around $3,760 for each additional kilowatt you need.The brand and kind of equipment you choose for your solar system can raise or lower the price quite significantly. If you prefer a brand name like Tesla or SunPower, these are often more expensive than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have limited roof space or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to greater savings over time. Plus, if you want extra equipment like an electric vehicle charger or solar batteries, this will also increase the cost.

Solar Financing Terms

Many homeowners find the average cost of solar in Urbana to be too steep, even if the investment pays off over time. Fortunately, nearly every solar company in the area provides access to financing options. Solar loans greatly decrease upfront costs in most cases, but they also result in a higher cost over time due to interest.You’ll have to consider the long-term cost of loans, including the total interest you’ll pay over the length of the loan. If you can only 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 finding a solar loan with a low APR could reduce your costs significantly.

Solar Panel Installation Company

The solar installer you pick will affect your total cost to make the switch to solar energy. Different companies will bill different amounts for the equipment and labor.You may see national solar installers that have lower prices due to their larger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or specials 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 $3.91 $16,424 $5,532 18.7 years
8 kW $3.84 $21,477 $7,797 18.3 years
10 kW $3.76 $26,320 $10,272 18.0 years
12 kW $3.68 $30,952 $12,958 17.6 years
14 kW $3.61 $35,374 $15,855 17.3 years
16 kW $3.53 $39,585 $18,962 16.9 years
18 kW $3.46 $43,586 $22,280 16.5 years
20 kW $3.38 $47,376 $25,809 16.2 years

How to Save on Solar Panels

Since the brand of solar panels and the installation company you choose considerably impacts your costs and your system’s efficiency, production, and durability, it’s important to select the right ones for you. Here are some things to keep in mind to help with your decision:

  • Reputation: Companies that have been operating for many years likely have a solid 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.
  • Installation Process: An important thing to understand when going solar is the installation process itself. Be sure to align on any details you should know with your solar company, such as what permits you should acquire and what the project timeline is.
  • Solar Panel Brands: Each solar panel brand and kind offers varying levels of quality, durability and efficiency. They will come at different price points as well. The company you choose plays a role in which solar panel brands you have access to.
  • Warranty: A comprehensive, long-term warranty can help keep your solar panels running for a long time and save you money on repairs and maintenance.

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Solar Financing

Blue Raven Solar

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries

Best for Leasing

Sunrun

★★★★★
4.0

  • Expansive service area
  • Many financing options
  • Some reported issues with customer service
  • Some reported issues with door-to-door sales

EcoWatch's Urbana, IL Solar Cost FAQs

How much does it cost to install solar panels in Urbana?

The average cost of solar panels in Urbana is about $18,800 for a 5-kW system and $37,600 for a 10-kW system before the ITC, but the real cost will depend on certain factors like the type of solar panels you want, what size system you need and how much energy you consume.

Is it better to lease or buy solar panels in Urbana?

Leasing solar panels can be an option if you can’t afford to pay upfront or secure a solar loan, but since you don’t own the system, you don’t have access to many solar incentives. Also your home value won’t increase, so you’ll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most bang for your buck from going solar.

Can solar panels eliminate my power bills?

It is possible to eradicate your electricity bills with solar panels, but for most homeowners throughout Urbana, 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 contact a local solar installer to see how many panels can fit on your roof.

What solar power system size is right for my home?

The exact number of solar panels you need depends on your household energy consumption and the amount of sunlight your roof gets. You can look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to buy between 20 and 35 panels to account for their typical energy usage.

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.

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