Solar Panel Cost Guide in Addison, IL (Sep 2022)

  • Addison Solar Installation Cost: $12,479
  • 25-Year Savings: $10,133
  • Payback Period: 13.8 Years

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EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 9/16/2022

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Average Cost of Solar Panels in Addison

See how much it might cost to switch to solar power in Addison.

The average cost of solar panels in Addison is $3 per watt. Since a 6.5-kW system is needed to cover the energy usage of a typical home in Addison, the average price of going solar will be about $12,479 before claiming the federal solar tax credit of 30%.

Bear in mind that the figures above are only estimates based on the average Addison homeowner. The price of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor. Many homeowners find installing solar panels is a sound investment. The average homeowner in Addison can save around $13,000 on their power bills over 20 years.

To receive a free estimate from a top solar installer in Addison, you can 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

When going solar, many homeowners choose to go with a solar company since putting up a solar system yourself can be a challenging project. The expertise that solar installers offer can be useful as well, especially if you don't quite know what kind of solar equipment you need.

There are several licensed solar professionals that can install solar panels for you. Here are our suggestions:

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries (coming 2022)

Best Technology

The Green Panel

★★★★★
4.5

  • Price-match guarantee
  • Sleek, efficient, and durable solar panels
  • Best solar battery on the market
  • Some reported issues with customer service
  • Customer service varies by local dealer

See all of the solar companies in Addison

Factors that Affect Solar Panel Costs in Addison

Even though the average cost of solar panels in Addison is $12,479, your actual cost may be above or below the average. There are many factors that can have a major impact on the cost of a solar panel installation. Below are some of the more crucial things to take into consideration.

Solar Equipment Size

The size of the solar energy system you need for your household 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 brand and type of equipment you choose for your solar system can raise or lower the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often have a higher price tag 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 more savings over time. Plus, if you want add-ons like an electric vehicle charger or solar batteries, this will also increase the cost.

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. Though solar loans make going solar more accessible for Addison homeowners, they can also increase the total you pay for your system, depending on your interest rate. If you put down a larger down payment, though, you can cut back on how much interest you have to pay.

Solar Panel Installation Company

A final factor to keep in mind when trying to figure out the cost of solar for your home or business in Addison is the company you get to install your PV system. As with choosing a company to install new cabinets, for instance, there are plenty of solar installers that provide a range of services at different price points. You may notice national solar installers that have lower prices due to their larger brand name and access to bulk prices, or you might see small, local installation companies offering deals or promotions to compete with those major players.

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

Solar Incentives in Addison

Name Special Assessment for Solar Energy Systems
Incentive Amount Varies
More Info Click here

Name ComEd - Energy Efficiency Program for Residential
Website Visit here
More Info Click here

Name Solar Renewable Energy Credits
Website Visit here
More Info Click here

Name Residential Renewable Energy Tax Credit
Website Visit here
More Info Click here

How to Save on Solar Panels

There are many solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you decide on the right company for you, here are some tips to keep in mind:

  • Installation Process: An important thing to understand when going solar 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 what the project timeline is.
  • Reputation: Solar installers that have great reviews from their customers and that have been in business for many years in most cases offer good-quality solar panel installation and expertise.
  • Solar Panel Brands: Homeowners will have different preferences for panels based on their roof configurations and energy needs. Even though there are many options for which type of solar panel you can get, not every company will have access to the exact one you may want or need, so be sure to take a look at their list of offerings before deciding.
  • Contract: Read the contract terms thoroughly to make sure you understand the cost breakdown, project timeline rebates and warranties.

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries (coming 2022)

Best Technology

The Green Panel

★★★★★
4.5

  • Price-match guarantee
  • Sleek, efficient, and durable solar panels
  • Best solar battery on the market
  • Some reported issues with customer service
  • Customer service varies by local dealer

EcoWatch's Addison, IL Solar Cost FAQs

What is the average cost of installing solar panels in Addison?

The average cost of solar panels in Addison is about $13,650 for a 5-kW system and $27,300 for a 10-kW system before the ITC, but the actual cost will depend on stuff such as the kind of solar panels you want, what size system you need and how much energy you use.

Are solar panels free in Addison?

A solar panel system isn't free in Addison, but there are some options that can make getting them more feasible, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can help lower the cost.

Do solar panels increase how much your home is worth?

Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Addison is currently $290,811, so you can expect about a value of about $11,923 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Addison is a worthwhile investment.

How long do solar panels last in Addison?

Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is how much energy they produce will have decreased significantly after that point. You can decide to replace them once you've had them for that long or you can keep using them at a lower efficiency.

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.

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