Solar Panel Cost Guide in Channahon, IL (2024 Update)
- Channahon Solar Installation Cost: $16,967
- 25-Year Savings: $10,292
- Payback Period: 18.8 Years
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Average Cost of Solar Panels in Channahon
Find out what the average cost of a solar system is in Channahon.
The average cost of a solar system in Channahon is 4 per watt.Using this figure, a typical 6.4-kW system would cost about $16,967 before the 0 federal solar tax credit is applied.
The prices above are just estimates to give you an idea of the cost of a solar energy system. The true cost of installing solar panels can vary based on several factors, such as how many panels you need, your energy consumption and what installation company you go with.With average savings of about $13,000 on power bills over 20 years, many homeowners in Channahon find installing solar panels has a decent ROI.
To calculate your potential savings and connect with a local solar installer, click the button below.
Solar savings over time in Channahon
| Year | Return on Investment |
|---|---|
| 1 years | $-15,811 |
| 3 years | $-13,499 |
| 5 years | $-11,186 |
| 7 years | $-8,874 |
| 9 years | $-6,562 |
| 11 years | $-4,249 |
| 13 years | $-1,937 |
| 15 years | $375 |
| 17 years | $2,688 |
| 19 years | $5,000 |
| 21 years | $7,312 |
| 23 years | $9,625 |
| 25 years | $11,937 |
Top Solar Installers in Channahon
Many homeowners choose to use a solar installer since figuring out how to install solar panels on your own can be a lot of work. Solar installers offer key benefits that can help you get the most out of your investment, like warranties, monitoring and free repairs.
If you're looking for a solar company in Channahon, the EcoWatch team has compiled a list of our top suggestions here:
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 Channahon
Factors that Affect Solar Panel Costs in Channahon
Cost is typically one of the most important factors for homeowners who want to invest in solar. There are a few major factors that will push your cost above or below the average in Channahon: solar equipment and system size, financing options and the solar installation company you choose. We’ll discuss each of these briefly below.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to some different factors. One of the major factors is the system size, which is measured in kilowatts (kW). Solar power systems that have greater efficiency or power generation require better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $3,760.Some solar brands — like Maxeon from SunPower — cost more upfront but also tend to offer higher efficiency. In a city like Channahon, where sunlight is relatively abundant, efficiency can quickly pay off. In addition, if you have a small roof or you don’t have a lot of space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Solar panels can save you money on power bills over time, but they can also be a significant investment. That’s why many Channahon homeowners opt to finance their solar panel systems to make paying for solar more affordable.Though solar loans make switching to solar energy more accessible for Channahon homeowners, they can also raise the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you make a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
A final factor to keep in mind when trying to evaluate the cost of solar for your home or business in Channahon is the company you get to install your PV system. As with choosing a company to install new cabinets, for example, there’s no shortage of solar installers that provide a range of services for different budgets.The company’s size can sometimes play the most significant role in your total costs. Larger national companies, like SunPro and Sunrun, often have lower prices because of access to more resources and bulk pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or promotion can bring their pricing lower 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 | $4,622 | 19.5 years |
| 8 kW | $3.84 | $21,477 | $6,583 | 19.1 years |
| 10 kW | $3.76 | $26,320 | $8,755 | 18.8 years |
| 12 kW | $3.68 | $30,952 | $11,138 | 18.4 years |
| 14 kW | $3.61 | $35,374 | $13,732 | 18.0 years |
| 16 kW | $3.53 | $39,585 | $16,535 | 17.6 years |
| 18 kW | $3.46 | $43,586 | $19,550 | 17.3 years |
| 20 kW | $3.38 | $47,376 | $22,775 | 16.9 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you select the right company for you, here are some tips to keep in mind:
- Warranty: A quality company stands out from other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Solar Panel Brands: Not all solar installers have the same brands of solar panels, so the brand and type of panel you want can play a significant role in the company you opt for.
- Installation Process: Make sure you’re on the same page with the installer regarding how the installation process will go and what needs to be done before your solar panels are installed, such as updating your electrical system or roof.
- Reputation: Solar companies that have great reviews from their customers and that have been operating for many years most likely provide high-quality solar panel installation and expertise.
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 Channahon, IL Solar Cost FAQs
How much does it cost to install solar panels in Channahon?
The average cost of solar panels in Channahon 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 model of solar panels you want, what size system you need and how much energy you use.
What other factors should I consider in addition to cost when buying solar panels?
Cost is definitely one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Is it worth going solar in Channahon?
Whether or not solar panels are worth it depends on some different factors like how much you pay for electricity and how much direct sunlight your roof gets.
What solar power system size is right for my home?
To figure out how many solar panels you need, you should find out how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can generally produce about 250 to 400 watt-hours per hour, the average home will need 20 to 35 panels.
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.