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

  • Belvidere Solar Installation Cost: $12,498
  • 25-Year Savings: $11,364
  • Payback Period: 13.1 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 Belvidere

Find out what the average cost of solar panel installation is in Belvidere.

While the national average of solar panels is $2.66 per watt, solar panels in Belvidere generally cost around $3. Using this figure, a typical 6.5 would cost about $12,498 before the 30% federal solar tax credit is applied.

How much you pay can go higher or lower than the average in Belvidere depending on a few factors, such as the model of solar panels you choose and the solar contractor you hire. With typical savings of about $14,000 on power bills over 20 years, many homeowners in Belvidere find going solar can pay off big.

You can click the button below to get connected with a vetted solar company in Belvidere that can help you get a more accurate cost estimate for your home.

Solar savings over time in Belvidere

Year Return on Investment
1 years $-11,543
3 years $-9,634
5 years $-7,726
7 years $-5,817
9 years $-3,908
11 years $-1,999
13 years $-90
15 years $1,819
17 years $3,728
19 years $5,637
21 years $7,546
23 years $9,455
25 years $11,364

Top Solar Installers in Belvidere

When going solar, many homeowners opt to hire a solar company since overseeing your solar installation yourself can be a challenging project. A solar installer can also help save you money in the long run by offering warranties, repairs and component replacements.

There are various licensed solar professionals that can help you install your solar panels. 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 Belvidere

Factors that Affect Solar Panel Costs in Belvidere

Cost is typically one of the most important factors for homeowners considering investing in solar. There are a few major factors that affect your total cost in Belvidere: solar equipment and system size, financing options and the solar installation company you choose. We'll discuss each of these briefly below.

Solar Equipment Size

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 energy your household consumes, the larger your system will likely need to be. You can expect to spend about $2,730 per kilowatt in Belvidere. Some solar brands — like Maxeon from SunPower — cost more upfront but also tend to offer better efficiency. In a city like Belvidere, where sunlight is relatively abundant, efficiency can quickly pay off. In addition, if you have a small roof or limited space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.

Solar Financing Terms

If paying for a solar system out of pocket is difficult, solar loans are a solid choice because they lower your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years. You'll have to consider the long-term cost of financing options, including the total 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 interest rate could reduce your costs considerably.

Solar Panel Installation Company

Finally, the company you choose to install your solar panel system can impact how much it costs. Belvidere's solar companies all have different labor costs and add varying upcharges to equipment. Companies that only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come at a higher cost. It's best to do some research and find a company that provides the products, warranties and services you want and also fits within your budget.

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 $9,982 13.6 years
8 kW $2.78 $15,594 $13,615 13.3 years
10 kW $2.73 $19,110 $17,401 13.1 years
12 kW $2.68 $22,473 $21,340 12.8 years
14 kW $2.62 $25,684 $25,432 12.6 years
16 kW $2.57 $28,741 $29,676 12.3 years
18 kW $2.51 $31,646 $34,074 12.0 years
20 kW $2.46 $34,398 $38,624 11.8 years

Solar Incentives in Belvidere

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

Since the type of solar panels and the installation company you choose significantly impacts 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:

  • Installation Process: Make sure you're aligned with the company with regard to 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.
  • Contract: It's important to look over your solar installer's contract thoroughly to understand what services they will provide, what the warranty covers and what expectations you should have about the project timeline.
  • Solar Panel Brands: Different companies will offer different brands and kinds of panels. If you prefer a specific brand, make sure the solar company you're considering has it.
  • Warranty: An all-inclusive, long-term warranty can help keep your solar panels running for a long time and save you money on part replacement and repairs.

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 Belvidere, IL Solar Cost FAQs

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

The average cost of solar panels in Belvidere 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 certain factors like the kind of solar panels you want, what size system you need and how much energy you use.

Is cost the most important consideration when buying solar panels?

The upfront cost is a key factor to consider, but whether it's the most important for you depends on why you decided to go solar. In cities where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to think about are the quality and durability of your solar panels.

Is it worth going solar in Belvidere?

Solar panels can be a fruitful investment for many homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your electricity bills are already fairly low, solar panels might not be for you.

What solar power system size is right for my home?

To figure out how many solar panels 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 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.

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