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

  • Carmi Solar Installation Cost: $16,043
  • 25-Year Savings: $14,471
  • Payback Period: 15.4 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 Carmi

Here’s how much it might cost to switch to solar power in Carmi.

The national average cost of solar panels is $2.66 per watt, but in Carmi it’s 4 per watt.Since a 6.1-kW system is needed to cover the energy usage of a typical home in Carmi, the average price of going solar will be about $16,043 after claiming the federal solar tax credit of 0.

These figures are just estimates, and how much solar costs for you may vary based on your specific situation and what company you go with.With typical savings of about $16,000 on electricity bills over 20 years, many homeowners in Carmi find installing solar panels can be quite rewarding.

You can click the button below to get connected with a pre-vetted solar installer in Carmi for a quote for your home.

Solar savings over time in Carmi

Year Return on Investment
1 years $-15,192
3 years $-13,491
5 years $-11,790
7 years $-10,088
9 years $-8,387
11 years $-6,686
13 years $-4,985
15 years $-3,283
17 years $-1,582
19 years $119
21 years $1,821
23 years $3,522
25 years $5,223

Top Solar Installers in Carmi

DIY solar panel installation is a way to cut costs, but it's an undertaking that can use up a lot of your time and energy. Taking advantage of a solar panel installer can make converting to solar power much easier. In addition, if you’d like to maximize your investment in solar, going with a solar installer can help with that as well. Different providers can offer repairs, expertise on solar panel installation and sometimes even information on local incentives and net metering programs.

If you're on the hunt for a solar company in Carmi, the EcoWatch team has compiled a list of our top suggestions here:

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 Carmi

Factors that Affect Solar Panel Costs in Carmi

Even though the average cost of a solar system in Carmi is $16,043, your actual cost may differ. There are several factors that can have a sizable impact on the cost of a residential solar panel installation. Below are some of the more important things to take into consideration.

Solar Equipment

Solar system size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of going solar. That’s why it’s important to accurately gauge the size of the solar energy system needed for your home by figuring out your typical energy use.The kind of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you get the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. However, more efficient panels could save you more in the long run on your energy bills. In addition, extra products, such as solar batteries, can bring your total well above the Carmi average.

Solar Financing Terms

Most solar companies in Carmi provide solar loans, which reduce your upfront costs of installing solar.Though solar loans make going solar more accessible for Carmi 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 cut back on how much interest you have to pay.

Solar Panel Installation Company

A final factor to keep in mind when trying to figure out the cost of solar for your home or business in Carmi is the company you get to install your solar system. As with choosing a company to renovate your kitchen, for example, there are plenty of solar installers that provide a range of services at different price points.Larger national companies typically have lower costs, but some local companies keep up with them by promoting sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or add-on services like electric vehicle charger installation, they might be cheaper overall.

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 $9,287 16.0 years
8 kW $3.84 $21,477 $12,804 15.7 years
10 kW $3.76 $26,320 $16,532 15.4 years
12 kW $3.68 $30,952 $20,470 15.0 years
14 kW $3.61 $35,374 $24,618 14.7 years
16 kW $3.53 $39,585 $28,977 14.4 years
18 kW $3.46 $43,586 $33,547 14.1 years
20 kW $3.38 $47,376 $38,327 13.8 years

How to Save on Solar Panels

The company that does your solar panel installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because picking a company can be difficult, we have some tips to help you, such as:

  • 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 installer, such as what permits you should secure and what the project timeline is.
  • Solar Panel Brands: Not all solar installers 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: Solar panel companies that have great reviews from their customers and that have been in business for many years likely provide good-quality solar panel installation and expertise.
  • Warranty: Warranties that cover panel repairs and maintenance over around 25 years are the gold standard in the business, and offering such a warranty is one mark of a good company.

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 Carmi, IL Solar Cost FAQs

What is the average cost of installing solar panels in Carmi?

This is a difficult question to answer precisely, because the cost depends on a few different factors. Generally speaking, it costs about $18,800 for a 5-kW system and $37,600 for a 10-kW system after the ITC is applied. You can expect to pay more if you want extra solar equipment or more efficient panels, or if you have higher-than-average energy consumption. On the other hand, you can spend less if you want a smaller solar panel system or less efficient solar panels.

Should I lease or buy solar panels in Carmi?

Leasing solar panels can be an attractive choice, as it typically comes with low or $0 upfront payments. The downside 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 tax rebates and credits and your home value won’t increase. Buying solar panels is a better way to go if you want to get the most savings.

How much can I save on power bills after installing solar panels?

Solar panels can potentially eliminate your electricity bills depending on your location and how much sunlight your home gets. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $857.03 per year.

How long do solar panels last in Carmi?

Although 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 the amount of energy they produce will have decreased significantly after that point. You can 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.

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