Solar Panel Cost Guide in Champaign, IL (2024 Update)
- Champaign Solar Installation Cost: $16,614
- 25-Year Savings: $10,102
- Payback Period: 18.7 Years
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Average Cost of Solar Panels in Champaign
We go over average solar pricing in Champaign.
While the national average of solar panels is $2.66 per watt, solar panels in Champaign typically cost about 4.To account for the typical energy usage of the average home in Champaign, most homeowners require a 6.3-kilowatt system. Using the figure above, a solar installation costs around $16,614, or $23,758 before the federal solar tax credit of 0 is applied.
Keep in mind that the figures above are only estimates based on the average Champaign homeowner. The cost of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor.For many homeowners, the upfront investment in solar power is worth paying. On average homeowners in Champaign see about $13,000 in savings on energy bills over 20 years.
Click the button below to get connected to a highly rated solar installer in your area for a customized estimate.
Solar savings over time in Champaign
| 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 Champaign
Many homeowners choose to use a solar panel installer since trying to put up solar panels on your own can be a labor-intensive endeavor. Also, companies with a high reputation that are more expensive upfront could actually save you money in the long run because of their warranties, repair services and expert design.
There are several licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
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 Champaign
Factors that Affect Solar Panel Costs in Champaign
There are many criteria that can determine your total installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar panels.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household consumes, the larger your system will likely need to be. You can expect to spend around $3,760 per kilowatt in Champaign.The type of solar panels and equipment you get is another factor that will substantially influence costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to be more expensive. Further, 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 into a solar system that’s in your budget.
Solar Financing Terms
Most solar companies in Champaign offer solar loans, which reduce your upfront costs of installing solar.You’ll have to consider the long-term cost of financing options, including the amount of 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 considerably.
Solar Panel Installation Company
Lastly, the company you get to install your solar panel system can play a role in determining your pricing. Champaign’s solar companies all have different labor costs and add varying upcharges to equipment. You may notice national solar installers that have lower prices because of their larger brand name and access to bulk equipment prices, 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 | $4,644 | 19.5 years |
| 8 kW | $3.84 | $21,477 | $6,613 | 19.1 years |
| 10 kW | $3.76 | $26,320 | $8,793 | 18.7 years |
| 12 kW | $3.68 | $30,952 | $11,183 | 18.4 years |
| 14 kW | $3.61 | $35,374 | $13,784 | 18.0 years |
| 16 kW | $3.53 | $39,585 | $16,596 | 17.6 years |
| 18 kW | $3.46 | $43,586 | $19,618 | 17.2 years |
| 20 kW | $3.38 | $47,376 | $22,850 | 16.9 years |
How to Save on Solar Panels
The solar company you go with will influence not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are a few important things you should consider, such as:
- Contract: It’s important to look over your solar installer’s contract fully to understand what services they will provide, what the warranty covers and what you can expect about the project timeline.
- Installation Process: Get details from your solar installer about the installation process and what to expect, including when the site survey will be completed and how long it will take.
- Warranty: Many companies offer different kinds of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Solar Panel Brands: Each solar panel brand and type has varying levels of quality, durability and efficiency. They will come at different price points as well. The company you choose affects which solar panel brands you have access to.
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 Champaign, IL Solar Cost FAQs
What is the average cost of installing solar panels in Champaign?
The average cost of solar panels in Champaign 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 stuff like the type of solar panels you want, what size system you need and how much energy you consume.
Can you get solar panels for free in Champaign?
Solar panels aren’t free in Champaign, but there are some options that can make getting them more viable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can help lower the cost.
Is it worth going solar in Champaign?
Solar panels can be a beneficial investment for many homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your energy bills are already pretty low, solar panels might not be for you.
How often do you have to replace solar panels?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher amount of energy production.
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.