Solar Panel Cost Guide in Bensenville, IL (2024 Update)
- Bensenville Solar Installation Cost: $17,005
- 25-Year Savings: $11,899
- Payback Period: 18.8 Years
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Average Cost of Solar Panels in Bensenville
Let’s take a look at the average cost of solar panels in Bensenville.
While the national average of solar panels is $2.66 per watt, solar panels in Bensenville generally cost around 4.The average Bensenville homeowner needs a 6.5-kilowatt system, which would cost about $17,005 with the federal tax credit, or $24,317 before the 0 tax credit is applied.
Bear in mind that the figures above are only estimates based on the average Bensenville 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 solid investment. The average homeowner in Bensenville can save around $13,000 on their energy bills over 20 years.
To calculate your potential ROI and connect with a local solar company, click the button below.
Solar savings over time in Bensenville
| Year | Return on Investment |
|---|---|
| 1 years | $-15,849 |
| 3 years | $-13,537 |
| 5 years | $-11,224 |
| 7 years | $-8,912 |
| 9 years | $-6,600 |
| 11 years | $-4,287 |
| 13 years | $-1,975 |
| 15 years | $337 |
| 17 years | $2,650 |
| 19 years | $4,962 |
| 21 years | $7,274 |
| 23 years | $9,587 |
| 25 years | $11,899 |
Top Solar Installers in Bensenville
Many homeowners decide to hire a solar installer since installing solar panels on your own can be a lot of work. In addition, if you’d like to maximize your investment in solar energy, using a solar installer can help with that as well. Different providers can offer repairs, expertise on how to install solar panels and sometimes even information on local incentives.
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 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 Bensenville
Factors that Affect Solar Panel Costs in Bensenville
The cost of installing a solar system in Bensenville can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The largest one is the size of the system your home needs, and other factors include the equipment you choose, financing options and the solar installer you choose.
Solar Equipment
When it comes to estimating the cost of a solar panel system in Bensenville, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are chiefly based on your home’s energy consumption, which you can figure out by looking at past energy bills. Your total cost can increase by about $3,760 for each additional kilowatt you need.Some solar panel brands — like Maxeon from SunPower — cost more upfront but also tend to offer better efficiency. In a city like Bensenville, where sunlight is relatively abundant, efficiency can quickly pay off. Plus, 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
If paying for a solar system in cash is difficult, solar loans are an affordable option because they cut back your upfront costs and allow you to pay for your system over five to seven years on average.You’ll have to consider the long-term cost of financing options, including the amount of interest you’ll pay over the length of the loan. If you’re only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or finding a solar loan with a low APR could reduce your costs significantly.
Solar Panel Installation Company
The solar panel installer you choose will impact your total cost to make the switch to solar . Different companies will charge different amounts for the equipment and labor.Additionally, some companies in Bensenville know more about local solar incentives and can help you make good use of additional rebates or tax exemptions. Though, 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 | $3.91 | $16,424 | $4,575 | 19.6 years |
| 8 kW | $3.84 | $21,477 | $6,521 | 19.2 years |
| 10 kW | $3.76 | $26,320 | $8,677 | 18.8 years |
| 12 kW | $3.68 | $30,952 | $11,044 | 18.4 years |
| 14 kW | $3.61 | $35,374 | $13,622 | 18.0 years |
| 16 kW | $3.53 | $39,585 | $16,410 | 17.7 years |
| 18 kW | $3.46 | $43,586 | $19,409 | 17.3 years |
| 20 kW | $3.38 | $47,376 | $22,618 | 16.9 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Since selecting a company can be a challenge, we have some tips to help you, such as:
- Reputation: Make sure your solar company has a good reputation by verifying it has certifications and licenses, checking how long it's been in business and reading reviews by previous customers and solar experts like the EcoWatch team.
- Solar Panel Brands: Different companies will carry various brands and kinds of panels. If you prefer a specific brand, make sure the solar company you’re considering has it.
- Installation Process: Make sure you’re on the same page with the company regarding 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.
- Warranty: Many companies offer different types of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
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 Bensenville, IL Solar Cost FAQs
What is the average cost of installing solar panels in Bensenville?
This is a tough question to answer precisely, because the cost depends on a few different factors. Generally speaking, it costs about $18,800 for a 5-kW system and $37,600 for a 10-kW system after the ITC is applied. You can expect to pay more if you want extra 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 cheaper solar panels.
Are solar panels free in Bensenville?
You can’t get solar panels for free in Bensenville. 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 want to own your solar panels, you can finance them with a solar loan.
How much can I save on power bills after switching to solar?
Solar panels can potentially eliminate your electricity bills depending on where you’re located and how much sunlight your home gets. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $699.94 per year.
How often do you have to replace solar panels?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is how much energy they produce will have decreased significantly after that point. You can replace them after having 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.