Solar Panel Cost Guide in Mahomet, IL (2024 Update)
- Mahomet Solar Installation Cost: $16,614
- 25-Year Savings: $13,214
- Payback Period: 16.4 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Why you can trust EcoWatch
Average Cost of Solar Panels in Mahomet
Find out what the average cost of solar panels are in Mahomet.
In Mahomet, solar panels cost about 4 per watt on average.The average solar panel system size in Mahomet is around 6.3 kilowatts, meaning a cost of about $16,614 for a solar installation, or $23,758 before the 0 federal solar tax credit is applied.
The true price you pay can be higher or lower than the average in Mahomet depending on a variety of factors, such as the model of solar panels you choose and the solar installer you hire.Many homeowners find going solar is a solid investment. The average homeowner in Mahomet can save about $15,000 on their power bills over 20 years.
To see your potential savings and connect with a local solar company, click the button below.
Solar savings over time in Mahomet
| 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 Mahomet
Many homeowners opt for a solar installation company since installing solar panels by yourself can be a labor-intensive endeavor. Local solar installers can also help you maximize your return on investment by assisting with any local incentives you can take advantage of and by providing warranties and repairs.
If you’d like to switch to solar energy but still aren’t sure which solar company to go with, here are our recommendations for providers in Mahomet:
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 Mahomet
Factors that Affect Solar Panel Costs in Mahomet
For many Mahomet homeowners, the decision to install solar panels depends on cost. However, the range of solar installation costs can be quite wide in Mahomet, with typical prices between $20,000 to $40,000. There are a number of factors that greatly influence the price you’ll pay, which we'll go over below.
Solar Equipment
The size of the solar system you need for your home, 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 about $3,760. Some solar panel brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer better efficiency. In a city like Mahomet, 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 a better option. 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 big investment. That’s why many Mahomet homeowners opt to finance their solar panel systems to make going solar more affordable.Though solar loans make adopting solar energy more accessible for Mahomet homeowners, they can also increase the total you pay for your system due to interest. If you put down a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The solar installation company you pick will impact your total cost to make the switch to solar power. Different companies will charge different amounts for the equipment and labor.You may come across national solar installers that have lower prices due to their bigger brand name and access to bulk prices, or you might see small, local installation companies offering deals or promotions 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 | $7,603 | 17.1 years |
| 8 kW | $3.84 | $21,477 | $10,558 | 16.8 years |
| 10 kW | $3.76 | $26,320 | $13,724 | 16.4 years |
| 12 kW | $3.68 | $30,952 | $17,100 | 16.1 years |
| 14 kW | $3.61 | $35,374 | $20,687 | 15.8 years |
| 16 kW | $3.53 | $39,585 | $24,485 | 15.4 years |
| 18 kW | $3.46 | $43,586 | $28,493 | 15.1 years |
| 20 kW | $3.38 | $47,376 | $32,712 | 14.8 years |
How to Save on Solar Panels
Since the type of solar panels and the company you choose greatly influences your costs and your system’s durability and efficiency, it’s important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- Solar Panel Brands: The type of solar panel you’d like plays a role in which company you should go with, since different companies provide different panels.
- Installation Process: An important thing to understand when adopting solar energy is the installation process itself. Be sure to align on any details you need to know with your solar installer, such as what permits you should acquire and how long the project will take.
- Contract: When reading through your solar installer’s contract, ask for clarification about any terms you’re not sure of and make sure you understand what happens in scenarios such as a system component breaking or the company going out of business.
- Warranty: Warranties that cover panel repairs and maintenance over a long period of time such as 25 years are the best you can get in the business, and offering that kind of warranty is one mark of a good company.
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 Mahomet, IL Solar Cost FAQs
How much does it cost to install solar panels in Mahomet?
This is a hard question to answer exactly, because the cost depends on a variety of 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. It will cost more if you want additional solar equipment or higher quality panels, or if you have above-average energy consumption. On the flip side, you can spend less if you want a smaller solar panel system or less efficient solar panels.
What other factors should I consider other than cost when buying solar panels?
Cost is without a doubt one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Is making the switch to solar worth it?
Solar panels can be a great investment for lots of homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your power bills are already pretty low, solar panels might not be for you.
How many solar panels do I need to power my home?
To figure out what solar panel system size you need, you need to know how much energy your home uses 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.