Solar Panel Cost Guide in Belvidere, IL (2023 Update)
- Belvidere Solar Installation Cost: $12,498
- 25-Year Savings: $11,364
- Payback Period: 13.1 Years
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Updated May 04, 2023
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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 2.73. The average solar panel system size in Belvidere is around 6.5 kilowatts, meaning a cost of about $12,498 for a solar installation, or $17,872 before the 30% federal solar tax credit is applied.
These figures are just averages, and your own solar costs will most likely look different based on the amount of energy your home requires and what company you choose to go with. Even with the high initial cost, the average Belvidere homeowner can save around $14,000 on their power bills over 20 years, which is one of the advantages of solar.
To get a free quote from a highly rated solar company in Belvidere, you can click the button below.
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
Although you can install solar panels yourself, it involves extra labor and know-how. That's why most people choose a solar panel installer. A solar installer can also help save you money over time by providing warranties, repairs and part replacements.
There are several licensed solar professionals that can take care of your solar installation project. 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 Belvidere
Factors that Affect Solar Panel Costs in Belvidere
There are many factors that can play into your solar system installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that does the installation.
Solar Equipment
The size of the solar panel system you need, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by about $2,730. There are many different solar panel brands and the one you choose also affects the cost. In general, the brands that have better efficiency tend to also cost more. In addition, the type of equipment you're looking to get can affect your total cost. If you only need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Most solar installers in Belvidere offer solar loans, which reduce your upfront costs of installing solar. When trying to figure out your overall cost, you should also calculate the interest you'll pay if you decide on a solar loan. Also, paying more upfront can lower the total interest paid over time.
Solar Panel Installation Company
Lastly, the company you choose to install your solar panel system can impact the cost. Belvidere's solar companies all have different labor costs and add varying upcharges to equipment. The company's size can sometimes play the most considerable 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 can sometimes have better customer service and more customization options, and the occasional sale or promotion can bring their pricing down to compete with bigger names.
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 |
How to Save on Solar Panels
There are a large number of companies available in Belvidere, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be tough, so here are some tips to help you decide:
- Solar Panel Brands: Different companies have different brands and kinds of panels. If you know you want a specific brand, make sure the solar panel installer you're considering has it.
- Installation Process: Make sure you're on the same page with the installer with regard to how the installation process will go and what you need to do before your solar panels are installed, such as updating your electrical system or roof.
- Contract: Look through the contract terms carefully to make sure you understand the cost breakdown, project completion timeline incentives and warranties.
- Reputation: Solar panel companies that have great reviews from their customers and that have been in business for many years most likely provide 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 Belvidere, IL Solar Cost FAQs
What is the average cost of installing solar panels in Belvidere?
This is a hard question to answer precisely, because the cost depends on a few different factors. Broadly 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 additional solar equipment or higher quality panels, or if you have higher-than-average energy needs. Conversely, you can spend less if you choose a smaller solar panel system or less expensive solar panels.
Is cost the most important consideration when buying solar panels?
Cost is definitely one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
How will solar panels impact my home value?
Installing solar panels on your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Belvidere is currently $135,707, which means you can expect a value of about $5,564 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Belvidere is a worthwhile investment.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy consumption and how much sunlight your roof gets. You can look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to buy between 20 and 35 panels to account for their typical energy usage.
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.