Solar Panel Cost Guide in Grant, IL (2024 Update)
- Grant Solar Installation Cost: $16,643
- 25-Year Savings: $10,528
- Payback Period: 18.4 Years
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Average Cost of Solar Panels in Grant
We break down average solar pricing in Grant.
While the national average of solar panels is $2.66 per watt, solar panels in Grant generally cost about 4.Since a 6.3-kW system is needed to cover the energy usage of a typical home in Grant, the average price of going solar will be about $16,643 after claiming the federal solar tax credit of 0.
The true cost of your system can go higher or lower than the average in Grant depending on a variety of factors, such as the model of solar panels you choose and the solar installer you hire.But, once you've paid the initial cost of installation, the ROI for most homeowners is quite good, with a net average savings of about $14,000 over 20 years on power bills.
To see your potential savings and connect with a local solar expert, click the button below.
Solar savings over time in Grant
| Year | Return on Investment |
|---|---|
| 1 years | $-15,487 |
| 3 years | $-13,174 |
| 5 years | $-10,862 |
| 7 years | $-8,550 |
| 9 years | $-6,237 |
| 11 years | $-3,925 |
| 13 years | $-1,612 |
| 15 years | $700 |
| 17 years | $3,012 |
| 19 years | $5,325 |
| 21 years | $7,637 |
| 23 years | $9,949 |
| 25 years | $12,262 |
Top Solar Installers in Grant
When going solar, many homeowners prefer to use a solar company since installing solar panels yourself can be a time-consuming project. Another good thing about using a reliable solar installer is that it'll usually provide warranties and free repairs, which help protect your investment.
If you’d like to go solar but still aren’t sure which solar system installer to go with, here are our recommendations for providers 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 Grant
Factors that Affect Solar Panel Costs in Grant
Even though the average cost of a solar system in Grant is $16,643, your actual cost may differ. There are many factors that can have a significant impact on the cost of a solar panel installation. Below are some of the more important things to consider.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of going solar 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 pay about $3,760 per kilowatt in Grant.The brand and type of equipment you choose for your solar system can raise or lower the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these often come at a higher price than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have a small roof or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to more savings over time. Plus, if you want additional equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Most solar companies in Grant 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 securing a solar loan with a low interest rate could reduce your costs significantly.
Solar Panel Installation Company
The last significant cost factor you should keep in mind is the installer you choose. Given the booming popularity of clean energy solutions in Grant, you’ll have a great number of options to choose from, but each comes at different price points for labor and equipment.The company’s size sometimes plays the most significant role in the installation costs. Larger national companies, like SunPro and Sunrun, often have lower pricing because of access to greater resources and better 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 discount can bring their pricing lower to compete with bigger names.
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 | $5,032 | 19.1 years |
| 8 kW | $3.84 | $21,477 | $7,130 | 18.8 years |
| 10 kW | $3.76 | $26,320 | $9,439 | 18.4 years |
| 12 kW | $3.68 | $30,952 | $11,959 | 18.0 years |
| 14 kW | $3.61 | $35,374 | $14,689 | 17.7 years |
| 16 kW | $3.53 | $39,585 | $17,630 | 17.3 years |
| 18 kW | $3.46 | $43,586 | $20,781 | 16.9 years |
| 20 kW | $3.38 | $47,376 | $24,143 | 16.6 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 pick the right company for you, here are some tips to keep in mind:
- Contract: When looking through your solar company’s contract, ask questions about any terms you’re not sure of and make sure you understand what happens in scenarios like a system component breaking or the company going out of business.
- Warranty: A comprehensive, 25-year warranty can help keep your solar panel system running smoothly and save you money on part replacement and repairs.
- Installation Process: Get detailed information from your solar installer about the installation process and what to expect, including when the site survey will be done and how long it will take.
- Solar Panel Brands: Not all solar companies 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 go with.
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 Grant, IL Solar Cost FAQs
How much does it cost to install solar panels in Grant?
This is a difficult question to answer precisely, because the cost depends on many 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 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 go with a smaller solar panel system or less efficient solar panels.
What other factors should I consider aside from cost when buying solar panels?
Cost is certainly one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
How will installing solar panels impact my property value?
Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Grant is currently $258,727, which means you can look forward to a value of about $10,608 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Grant is a rewarding investment.
What solar power system size is right for my home?
To figure out what solar panel system size you need, you should find out how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can typically produce about 250 to 400 watt-hours per hour, the average household 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.