Solar Panel Cost Guide in Bloomingdale, IL (2024 Update)
- Bloomingdale Solar Installation Cost: $17,196
- 25-Year Savings: $10,126
- Payback Period: 19.0 Years
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Average Cost of Solar Panels in Bloomingdale
Find out what the average cost of installing solar panels is in Bloomingdale.
In Bloomingdale, solar panels cost about 4 per watt on average.Since a 6.5-kW system is needed to cover the energy usage of a typical home in Bloomingdale, the average price of going solar will be about $17,196 after claiming the federal solar tax credit of 0.
Bear in mind that the figures above are only estimates based on the average Bloomingdale homeowner. The cost of a solar system for your home may look different depending on factors unique to your situation, like your household energy use and solar contractor.Many homeowners find adopting solar power is a solid investment. The average homeowner in Bloomingdale can save about $13,000 on their electricity bills over 20 years.
Click the button below to get connected to a highly rated solar company in your area for a custom quote.
Solar savings over time in Bloomingdale
| Year | Return on Investment |
|---|---|
| 1 years | $-16,040 |
| 3 years | $-13,728 |
| 5 years | $-11,415 |
| 7 years | $-9,103 |
| 9 years | $-6,791 |
| 11 years | $-4,478 |
| 13 years | $-2,166 |
| 15 years | $146 |
| 17 years | $2,459 |
| 19 years | $4,771 |
| 21 years | $7,083 |
| 23 years | $9,396 |
| 25 years | $11,708 |
Top Solar Installers in Bloomingdale
Many homeowners opt for a solar panel installer since trying to install solar panels yourself can be challenging. Another upside of using a solar installer is that they can help you make the most of your return of investment by reducing your future costs of repairs and replacements due to warranties and helping you learn about local incentives you can take advantage of.
There are several licensed solar professionals that can install solar panels for you. 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 Bloomingdale
Factors that Affect Solar Panel Costs in Bloomingdale
For many Bloomingdale homeowners, the decision to go solar comes down to cost. However, the range of solar installation costs can be quite wide in Bloomingdale, with typical prices between $20,000 to $40,000. There are a number of factors that significantly influence the price you’ll pay, which we'll go over below.
Solar Equipment
One of the most important factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more power your household uses, the larger your system will likely need to be. You can expect to spend about $3,760 per kilowatt in Bloomingdale.There are several different solar panel brands and the one you choose also changes the cost. Usually, the brands that are more efficient tend to also cost more. Plus, the type of equipment you want to install can affect your total cost. If you just need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Solar panels can save you money on power bills over time, but they can also be a significant investment. That’s why many Bloomingdale homeowners choose to finance their solar panel systems to offset upfront costs.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 more than the principal cost. Making a larger down payment or getting a solar loan with a low interest rate could reduce your costs remarkably.
Solar Panel Installation Company
Lastly, the company you hire to install your solar panel system can impact your pricing. Bloomingdale’s solar companies all have different labor costs and add varying upcharges to equipment. The size of the company can sometimes play the most considerable role in your costs. Larger national companies, like SunPro and Sunrun, often have lower prices because they have greater resources and better 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 discount can bring their pricing down to compete with bigger companies.
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 | $4,341 | 19.8 years |
| 8 kW | $3.84 | $21,477 | $6,210 | 19.4 years |
| 10 kW | $3.76 | $26,320 | $8,288 | 19.0 years |
| 12 kW | $3.68 | $30,952 | $10,578 | 18.6 years |
| 14 kW | $3.61 | $35,374 | $13,078 | 18.3 years |
| 16 kW | $3.53 | $39,585 | $15,788 | 17.9 years |
| 18 kW | $3.46 | $43,586 | $18,709 | 17.5 years |
| 20 kW | $3.38 | $47,376 | $21,841 | 17.1 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because selecting a company can be a tough decision, we have some tips to help you, such as:
- Contract: Before you sign a contract with a solar installer, be sure to look it over completely so you understand the terms. Also, ask questions if you aren’t sure about some of the terms, such as what the warranty covers and what services you can expect from them.
- Installation Process: Get details from your solar company about the installation process and what to expect, including when the site survey will be completed and what the project timeline is.
- Warranty: A quality company stands out from other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Reputation: Your solar installer should have a good reputation as a company and have verifiable expertise in the field. A couple of ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has satisfied reviews from past customers.
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 Bloomingdale, IL Solar Cost FAQs
How much does it cost to install solar panels in Bloomingdale?
The average cost of solar panels in Bloomingdale is about $18,800 for a 5-kW system and $37,600 for a 10-kW system before the ITC, but the real cost will depend on things such as the type of solar panels you want, what size system you need and how much energy you consume.
Are solar panels free in Bloomingdale?
You can’t get solar panels for free in Bloomingdale. However, you may still be able to afford 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.
Does Bloomingdale have a net metering program?
Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just give you credit toward your future energy bills.
How many solar panels should I get to power my home?
To figure out how many solar panels you need, you need to know how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can typically 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.