Solar Panel Cost Guide in Addison, IL (2023 Update)
- Addison Solar Installation Cost: $12,479
- 25-Year Savings: $10,133
- Payback Period: 13.8 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Addison
See how much it might cost to switch to solar power in Addison.
Although the national average of solar panels is $2.66 per watt, solar panels in Addison generally cost about 2.73. Using this figure, a typical 6.5-kW system would cost about $12,479 before the 30% federal solar tax credit is applied.
Remember that the numbers above are only averages. The price you'll end up paying for solar may vary based on your household energy needs, the type of equipment you want to get, your solar contractor and more. Many homeowners find installing solar panels is a solid investment. The average homeowner in Addison can save around $13,000 on their power bills over 20 years.
For a free quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Addison
| Year | Return on Investment |
|---|---|
| 1 years | $-11,574 |
| 3 years | $-9,765 |
| 5 years | $-7,956 |
| 7 years | $-6,148 |
| 9 years | $-4,339 |
| 11 years | $-2,530 |
| 13 years | $-721 |
| 15 years | $1,088 |
| 17 years | $2,897 |
| 19 years | $4,706 |
| 21 years | $6,515 |
| 23 years | $8,324 |
| 25 years | $10,133 |
Top Solar Installers in Addison
Do-it-yourself solar panel installation is a possibility, but it's an undertaking that can use up a lot of your time and energy. Going with a solar company can make your switch to solar power much easier. The expertise that solar companies provide can be helpful as well, particularly if you aren't sure what type of solar equipment you need.
There are several licensed solar professionals that can install solar panels for you. Here are our suggestions:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
See all of the solar companies in Addison
Factors that Affect Solar Panel Costs in Addison
Cost is usually one of the most important factors for homeowners who want to invest in solar. There are a few primary factors that affect your total cost in Addison: solar equipment and system size, financing options and the solar installation company you choose. We'll go over each of these briefly below.
Solar Equipment
The size of the solar system you need, 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 $2,730. The type of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you choose the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. However, more efficient panels could save you more in the long run on your electric bills. Additionally, extra products, such as solar batteries, can bump up your total well above the Addison average.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be financially overwhelming. Solar loans are provided by most installers in Addison, which can reduce, or in some cases completely eliminate, your upfront costs to make solar more accessible. It's wise to factor the interest you'll pay in your final cost estimate. If you can afford to pay a higher down payment, you can reduce your total costs and how long it'll take to pay back the loan.
Solar Panel Installation Company
The solar company you choose will impact your total cost to make the switch to solar power. Different companies will bill different amounts for the equipment and labor. Additionally, some companies in Addison know more about local solar incentives and can help you take advantage of additional rebates or tax exemptions. However, they may charge more for that service. Even if they cost more upfront, they could help you save more money in the long run.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $2.84 | $11,925 | $8,840 | 14.4 years |
| 8 kW | $2.78 | $15,594 | $12,093 | 14.1 years |
| 10 kW | $2.73 | $19,110 | $15,498 | 13.8 years |
| 12 kW | $2.68 | $22,473 | $19,057 | 13.5 years |
| 14 kW | $2.62 | $25,684 | $22,768 | 13.3 years |
| 16 kW | $2.57 | $28,741 | $26,632 | 13.0 years |
| 18 kW | $2.51 | $31,646 | $30,649 | 12.7 years |
| 20 kW | $2.46 | $34,398 | $34,819 | 12.4 years |
How to Save on Solar Panels
There are a lot of companies available in Addison, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be difficult, so here are some tips to help you decide:
- Installation Process: An important thing to understand when going solar is the installation process itself. Be sure to clarify any details you should know with your solar company, such as what permits you should acquire and what the project timeline is.
- Contract: Though reading through a contract can be tedious, it's important to do it fully so you can make sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
- Solar Panel Brands: Different companies have different brands and models of panels. If you prefer a specific brand, make sure the solar company you're considering has it.
- Reputation: Solar installers that have great reviews from their customers and that have been operating for many years in most cases offer good-quality solar panel installation and expertise.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
EcoWatch's Addison, IL Solar Cost FAQs
How much does it cost to install solar panels in Addison?
This is a hard question to answer exactly, because the cost depends on many factors. Generally speaking, it costs about $13,650 for a 5-kW system and $27,300 for a 10-kW system after the ITC is applied. It will cost more if you want other solar equipment or higher quality panels, or if you have higher-than-average energy consumption. Conversely, you can spend less if you opt for a smaller solar panel system or less expensive solar panels.
Are solar panels free in Addison?
You can't get solar panels for free in Addison. However, you may still be able to install them on a lower budget. You can lease solar panels for a low upfront cost or, if you'd prefer to own your solar panels, you can finance them with a solar loan.
Can solar panels completely eradicate my electricity bills?
It is possible to eliminate your electricity bills with solar panels, but for most homeowners in Addison, that will require at least a 10-kW system. Not all homes will have the roof space for that size system, so you'll want to check with a local solar installer to see how many panels can fit on your roof.
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 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.