Solar Panel Cost Guide in Canton, IL (2024 Update)
- Canton Solar Installation Cost: $16,677
- 25-Year Savings: $10,131
- Payback Period: 18.7 Years
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Average Cost of Solar Panels in Canton
We go over average solar pricing in Canton.
While the national average of solar panels is $2.66 per watt, solar panels in Canton typically cost around 4.Using this figure, a typical 6.3-kW system would cost about $16,677 before the 0 federal solar tax credit is applied.
The true price you pay can be above or below the average in Canton based on a variety of factors, such as the kind of solar panels you choose and the solar contractor you hire.Many homeowners find going solar is a sound investment. The average homeowner in Canton can save around $13,000 on their power bills over 20 years.
To see your potential ROI and connect with a local solar company, click the button below.
Solar savings over time in Canton
| Year | Return on Investment |
|---|---|
| 1 years | $-15,826 |
| 3 years | $-14,125 |
| 5 years | $-12,424 |
| 7 years | $-10,722 |
| 9 years | $-9,021 |
| 11 years | $-7,320 |
| 13 years | $-5,618 |
| 15 years | $-3,917 |
| 17 years | $-2,216 |
| 19 years | $-515 |
| 21 years | $1,187 |
| 23 years | $2,888 |
| 25 years | $4,589 |
Top Solar Installers in Canton
Many homeowners choose to use a solar panel installer since trying to install solar panels yourself can be time-consuming. Local solar installation companies can also help you optimize your return on investment by walking you through any local incentives and by offering warranties and repairs.
You can work with a local solar installer to get a free quote on how much solar panels could cost for your home. Here are some near you:
Best National Provider
SunPower
- 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
- 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 Canton
Factors that Affect Solar Panel Costs in Canton
There are a number of criteria that can determine your solar system installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that performs the installation.
Solar Equipment
When it comes to estimating the price of a solar panel system in Canton, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are chiefly based on your home’s energy consumption, which you can determine by looking at past electricity bills. Your total cost can increase by around $3,760 for each additional kilowatt you need.The kind of solar panels and equipment you want is another factor that will substantially impact costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to cost more. Furthermore, solar equipment goes beyond just the solar panels themselves. You’ll also need to think about the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when looking for a solar system that falls within your budget.
Solar Financing Terms
Solar panels can save you money on power bills over many years, but they can also be a big investment. That’s why many Canton homeowners decide to finance their solar panel systems to offset upfront costs.Although solar loans make going solar more accessible for Canton homeowners, they can also raise the total you pay for your system, depending on your interest rate. If you put down a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The solar installer you choose to handle your switch to sustainable energy can play a role in your total costs. There are about 3 solar panel companies operating throughout Canton, and each can charge varying amounts for labor and equipment.The company’s size sometimes plays 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 down 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 | $4,636 | 19.5 years |
| 8 kW | $3.84 | $21,477 | $6,602 | 19.1 years |
| 10 kW | $3.76 | $26,320 | $8,779 | 18.7 years |
| 12 kW | $3.68 | $30,952 | $11,166 | 18.4 years |
| 14 kW | $3.61 | $35,374 | $13,764 | 18.0 years |
| 16 kW | $3.53 | $39,585 | $16,573 | 17.6 years |
| 18 kW | $3.46 | $43,586 | $19,592 | 17.2 years |
| 20 kW | $3.38 | $47,376 | $22,822 | 16.9 years |
How to Save on Solar Panels
Since the model of solar panels and the installation company you choose significantly influences 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:
- Contract: Look through the contract terms carefully to make sure you understand how much it will cost, completion timeline rebates and warranties.
- 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 large role in the company you opt for.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a good reputation and is qualified to install your solar system. Another way you can verify your installer’s reputation is by reading reviews.
- Warranty: A comprehensive, 25-year warranty can help keep your solar system running for a long time and save you money on part replacement and repairs.
Best National Provider
SunPower
- 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
- 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 Canton, IL Solar Cost FAQs
What is the average cost of installing solar panels in Canton?
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 be more expensive if you want additional 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 opt for a smaller solar panel system or less efficient solar panels.
Should I lease or buy solar panels in Canton?
Leasing solar panels can be an option if you are unable 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 property 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 financial benefits from going solar.
Does Canton have a net metering program?
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 electricity bills.
How many solar panels do I need to power my home?
The exact number of solar panels you need depends on your household energy consumption and the average daily 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 get 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.