Solar Panel Cost Guide in Champaign City, IL (2024 Update)
- Champaign City 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 City
We go over average solar pricing in Champaign City.
The national average cost of solar panels is $2.66 per watt, but in Champaign City it’s 4 per watt.Using this figure, a typical 6.3-kW system would cost about $16,614 before the 0 federal solar tax credit is applied.
Keep in mind that the numbers above are only averages. The price you’ll end up paying for solar may look quite different based on your household energy consumption, the type of solar panels you want to get, your solar contractor and more.Despite the high initial cost, the average Champaign City homeowner can save around $13,000 on their electricity bills over 20 years, which is one of the advantages of solar.
For a free quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Champaign City
| 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 City
When making the switch to solar, many homeowners decide to use a solar installer since putting up solar panels yourself can be a time-consuming project. Also, companies with a high reputation that are more expensive upfront could actually save you money in the long term with their warranties, repair services and expert design.
Working with a licensed solar company can help your solar project go smoothly. Here are our recommendations:
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 City
Factors that Affect Solar Panel Costs in Champaign City
Although the average cost of a solar system in Champaign City is $16,614, your final cost may differ. There are quite a few factors that can have a sizable impact on the cost of a solar system installation. Below are some of the more important things to take into consideration.
Solar Equipment
The size of the solar energy system you need to offset your energy usage, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by nearly $3,760. There are a lot of different solar panel brands and the one you choose also affects the cost. Generally speaking, the brands that have better efficiency tend to also cost more. In addition, the type of equipment you choose can affect your total cost. If you only need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Solar panels can save you money on energy bills over time, but they can also be a significant investment. That’s why many Champaign City homeowners opt to finance their solar panel systems to make paying for solar more affordable.You’ll have to consider the long-term cost of financing options, 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 securing a solar loan with a low interest rate could reduce your costs remarkably.
Solar Panel Installation Company
The solar installer you hire to handle your switch to solar energy can play a role in your total costs. There are about 3 solar installation companies operating in Champaign City, and each can charge different amounts for labor and equipment.Some companies only sell high-quality, high-efficiency and high-price products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally cost more. It’s best to do some research and go with the company that offers the products, warranties and services you want and also is within your budget.
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
There are a lot of companies to choose from in Champaign City, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be tough, so here are some tips to help you decide:
- Solar Panel Brands: Each solar panel brand and type has varying levels of quality, durability and efficiency. They will come at different prices as well. The company you choose has an impact on which solar panel brands you have access to.
- Reputation: Well-established companies likely have a high reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide adequate aftercare and customer support, such as part repairs and replacements.
- Contract: It’s important to look over your solar installer’s contract carefully to understand what services they will provide, what the warranty covers and what you can expect about the cost.
- Warranty: A comprehensive, 25-year warranty can help keep your solar panel system running for years to come 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 Champaign City, IL Solar Cost FAQs
What is the average cost of installing solar panels in Champaign City?
This is a tough question to answer precisely, because the cost depends on a few different 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. You can expect to pay more if you want other solar equipment or more efficient panels, or if you have above-average energy needs. Conversely, you can spend less if you go with a smaller solar panel system or less efficient solar panels.
Is cost the most important thing to think about when buying solar panels?
The initial cost is a key factor to consider, but whether it’s the most important for you depends on why you decided to go solar. In places where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to think about are the quality and durability of your solar panels.
Do solar panels increase the value of your home?
Solar panels can increase the value of your home considerably as long as you buy or finance your panels and don’t choose a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% with a solar installation."
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 larger level 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.