Solar Panel Cost Guide in Berwyn, IL (2023 Update)
- Berwyn Solar Installation Cost: $12,211
- 25-Year Savings: $10,400
- Payback Period: 13.5 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Berwyn
Find out what the average cost of a solar system is in Berwyn.
Although the national average of solar panels is $2.66 per watt, solar panels in Berwyn generally cost about 2.73. To account for the typical energy needs of the average home in Berwyn, most homeowners require a 6.4-kilowatt system. Using the per-watt figure above, a solar installation costs about $12,211, or $17,462 before the federal solar tax credit of 30% is applied.
How much you pay can be above or below the average in Berwyn based on a variety of factors, such as the brand of solar panels you choose and the solar company you hire. Many homeowners find adopting solar power is a sound investment. The average homeowner in Berwyn can save around $13,000 on their power bills over 20 years.
Click the button below to get connected to a vetted solar panel company in your area for a customized estimate.
Solar savings over time in Berwyn
| Year | Return on Investment |
|---|---|
| 1 years | $-12,136 |
| 3 years | $-11,985 |
| 5 years | $-11,834 |
| 7 years | $-11,684 |
| 9 years | $-11,533 |
| 11 years | $-11,382 |
| 13 years | $-11,231 |
| 15 years | $-11,081 |
| 17 years | $-10,930 |
| 19 years | $-10,779 |
| 21 years | $-10,629 |
| 23 years | $-10,478 |
| 25 years | $-10,327 |
Top Solar Installers in Berwyn
Installing solar panels on your own can be a challenging project, which is why using a solar installer is a good option for many homeowners. Also, companies with an outstanding reputation that are more expensive upfront could actually save you money in the long run due to their warranties, repair services and expert design.
If you're searching for a solar company in Berwyn, the EcoWatch team has compiled a list of our top suggestions here:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
See all of the solar companies in Berwyn
Factors that Affect Solar Panel Costs in Berwyn
While the average cost of a solar system in Berwyn is $12,211, your actual cost may be above or below the average. There are quite a few factors that can have a significant impact on the cost of a solar panel installation. Below are some of the more important things to take into consideration.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of going solar. Because of that, it's crucial to accurately ascertain the size of the solar energy system needed for your home by figuring out your typical energy use. The brand of solar panels and equipment you want is another factor that will greatly affect costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to come at a higher price. Further, solar equipment goes beyond just the solar panels themselves. You'll also need to think about the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when searching for a solar system that falls within your budget.
Solar Financing Terms
Most solar companies in Berwyn offer solar loans, which reduce the initial cost of installing a solar system. Though solar loans make switching to solar energy more accessible for Berwyn homeowners, they can also add to 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
The solar company you choose to handle your switch to green energy can play a role in your total costs. There are about 3 solar installation companies operating throughout Berwyn, and each can charge different amounts for labor and equipment. Larger national companies generally have lower costs, but some local companies keep up with them by promoting sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or extra services like electric vehicle charger installation, they might be cheaper overall.
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 | $9,307 | 14.0 years |
| 8 kW | $2.78 | $15,594 | $12,715 | 13.8 years |
| 10 kW | $2.73 | $19,110 | $16,276 | 13.5 years |
| 12 kW | $2.68 | $22,473 | $19,990 | 13.2 years |
| 14 kW | $2.62 | $25,684 | $23,856 | 13.0 years |
| 16 kW | $2.57 | $28,741 | $27,876 | 12.7 years |
| 18 kW | $2.51 | $31,646 | $32,048 | 12.4 years |
| 20 kW | $2.46 | $34,398 | $36,374 | 12.2 years |
How to Save on Solar Panels
The solar panel company you choose will impact not only your overall costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are some important things you should take into account, such as:
- Installation Process: Homeowners should make sure they know how exactly the installation process will be carried out, as well as important factors like the project completion timeline.
- 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 you can expect about the cost.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and how much efficiency they need. While there are many options for which type of solar panel you can get, not every company will have the exact one you may want or need, so be sure to take a look at their list of offerings before making your decision.
- Warranty: An all-inclusive, long-term warranty can help keep your solar panel system running smoothly and save you money on part replacement and repairs.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Berwyn, IL Solar Cost FAQs
What is the average cost of installing solar panels in Berwyn?
This is a difficult question to answer exactly, because the cost depends on a variety of 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. You can expect to pay more if you want other solar equipment or higher quality panels, or if you have higher-than-average energy usage. Conversely, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.
Is it better to lease or buy solar panels in Berwyn?
Leasing solar panels can be an attractive choice, as it typically comes with low or $0 upfront payments. The downside is that you won't be able to save as much. If you lease, you don't own the system, so you can't claim any incentives and your home value won't increase. Buying solar panels is a better option if you want to maximize your savings.
How will solar panels impact my property value?
Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Berwyn is currently $208,600, so you can expect a value of about $8,553 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Berwyn is a fruitful investment.
How many solar panels do I need to power my home?
The exact number of solar panels you need depends on your household energy needs and the amount of sunlight your roof gets. You can take a 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 install between 20 and 35 panels to cover 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.