Solar Panel Cost Guide in Macomb City, IL (2024 Update)
- Macomb City Solar Installation Cost: $16,628
- 25-Year Savings: $13,072
- Payback Period: 16.5 Years
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Average Cost of Solar Panels in Macomb City
Find out what the average cost of a solar system is in Macomb City.
Although the national average of solar panels is $2.66 per watt, solar panels in Macomb City typically cost around 4.The average Macomb City homeowner needs a 6.3-kilowatt system, which would cost about $16,628 with the federal tax credit, or $23,778 before the 0 tax credit is applied.
These figures are just estimates, and your own solar costs may differ based on factors unique to your home and what company you go with.For most homeowners, the upfront cost of solar panels is worth paying. On average homeowners in Macomb City see about $15,000 in savings on energy bills over 20 years.
Click the button below to get connected to a reputable solar installer in your area for a customized quote.
Solar savings over time in Macomb City
| Year | Return on Investment |
|---|---|
| 1 years | $-15,778 |
| 3 years | $-14,077 |
| 5 years | $-12,375 |
| 7 years | $-10,674 |
| 9 years | $-8,973 |
| 11 years | $-7,271 |
| 13 years | $-5,570 |
| 15 years | $-3,869 |
| 17 years | $-2,168 |
| 19 years | $-466 |
| 21 years | $1,235 |
| 23 years | $2,936 |
| 25 years | $4,638 |
Top Solar Installers in Macomb City
Many homeowners opt for a solar panel installer since trying to put up solar panels by yourself can be a lot of work. Some solar installers, especially local ones, can help you take advantage of incentives in Macomb City, thereby optimizing your ROI.
If you're searching for a solar installer in Macomb City, we've organized 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 Macomb City
Factors that Affect Solar Panel Costs in Macomb City
For many Macomb City homeowners, the decision to install a solar energy system comes down to cost. However, the range of solar installation costs can be quite wide in Macomb City, with typical prices between $20,000 to $40,000. There are a few factors that significantly influence the price you’ll pay, which we'll go over below.
Solar Equipment
The size of the solar energy system you need for your household, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, your total will most likely increase by nearly $3,760. The brand and type of equipment you choose for your solar system can increase or decrease the price quite significantly. If you prefer a 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 will be looking at a higher equipment cost, but this can typically lead to greater savings over time. Plus, if you want extra equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Macomb City to be too steep, even if the investment pays off over time. Fortunately, almost every solar installer in the area offers financing options. Solar loans substantially decrease upfront costs for most homeowners, but they also lead to paying more over time because of interest.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 significantly.
Solar Panel Installation Company
The remaining major cost factor you should take into consideration is the installer you choose. Given the booming popularity of sustainable energy solutions in Macomb City, you’ll have a great number of options to choose from, but each comes at varying price points for labor and equipment.The company’s size sometimes plays the most significant role in the cost of installation. Larger national companies, like SunPro and Sunrun, often have lower prices because they have greater resources and bulk pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or discount 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 | $7,456 | 17.2 years |
| 8 kW | $3.84 | $21,477 | $10,363 | 16.9 years |
| 10 kW | $3.76 | $26,320 | $13,480 | 16.5 years |
| 12 kW | $3.68 | $30,952 | $16,808 | 16.2 years |
| 14 kW | $3.61 | $35,374 | $20,346 | 15.9 years |
| 16 kW | $3.53 | $39,585 | $24,095 | 15.5 years |
| 18 kW | $3.46 | $43,586 | $28,054 | 15.2 years |
| 20 kW | $3.38 | $47,376 | $32,224 | 14.9 years |
How to Save on Solar Panels
There are numerous companies available in Macomb 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:
- 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 or replacing your electrical system or roof.
- Solar Panel Brands: Different companies offer various brands and types of panels. If you know you want a specific brand, make sure the solar company you’re considering has it.
- Warranty: If you’re concerned about the durability of your solar energy system, making sure your company offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Reputation: Long-running 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.
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 Macomb City, IL Solar Cost FAQs
What is the average cost of installing solar panels in Macomb City?
The average cost of solar panels in Macomb City is about $18,800 for a 5-kW system and $37,600 for a 10-kW system before the ITC, but the actual cost will depend on things like the kind of solar panels you want, what size system you need and how much energy you consume.
Should I lease or buy solar panels in Macomb City?
Leasing solar panels can be an option if you can’t pay upfront or secure a solar loan, but since you don’t own the system, you don’t have access to many solar incentives. Also your property value won’t increase, so you’ll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most financial benefits from going solar.
How will solar panels impact my home value?
Solar panels can increase your home value remarkably as long as you buy or finance your panels and don’t go for 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 many solar panels should I get to power my home?
To figure out what solar panel system size 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 usually 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.