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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Updated February 03, 2024
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Average Cost of Solar Panels in Bloomingdale
Find out what the average cost of installing solar panels is in Bloomingdale.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Bloomingdale, the average cost of a solar system is 4 per watt.Using this figure, a typical 6.5-kW system would cost about $17,196 before the 0 federal solar tax credit is applied.
The true price you pay can go higher or lower than the average in Bloomingdale depending on a variety of factors, such as the brand of solar panels you choose and the solar installer you hire.With average savings of about $13,000 on electricity bills over 20 years, many homeowners in Bloomingdale find going solar can pay off big.
To see your potential ROI and connect with a local solar installer, click the button below.
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 installation company since trying to install solar panels yourself can be challenging. Some solar companies, especially local ones, can help you take advantage of incentives in Bloomingdale, thereby optimizing your ROI.
Working with a licensed solar company can make going solar easier. Here are our recommendations:
Best National Provider
SunPower
- 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
- 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
There are a number of factors that can affect your 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 cost of solar panel systems varies by thousands of dollars due to a few different factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems that have higher efficiency or power generation use better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $3,760.The kind of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you get the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. However, more efficient panels could save you more in the long run on your power bills. Additionally, add-on products, such as solar batteries, can bump up your total well above the Bloomingdale average.
Solar Financing Terms
Most solar installers in Bloomingdale have solar loans, which reduce the initial cost of installing solar panels.It’s wise to factor the interest you’ll pay in your final cost estimate. If you can afford to pay a larger down payment, you can reduce your total costs and the amount of time it’ll take to pay back the loan.
Solar Panel Installation Company
Finally, the company you get to install your solar panels can influence how much it costs. Bloomingdale’s solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Bloomingdale have more knowledge about local solar incentives and can help you learn about additional rebates or tax exemptions. Though, they may charge more for walking you through the whole process. Even if they cost more upfront, they could end up saving you 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 | $4,341 | 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
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you pick the right company for you, here are some tips to keep in mind:
- Contract: Before you sign a contract with a solar installer, make sure to read it through fully 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 if there are any guarantees about energy production.
- Installation Process: One of the most important things to understand when going solar is the installation process itself. Be sure to align on any details you need to know with your solar company, such as what permits you should secure and what the project timeline is.
- Warranty: Many companies offer different kinds of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Reputation: Your solar installer should have a sound reputation as a company and have demonstrated expertise in the field. Two ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has good reviews from past customers.
Best National Provider
SunPower
- 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
- 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 actual cost will depend on certain factors such as the kind of solar panels you want, what size system you need and how much energy you use.
Are solar panels free in Bloomingdale?
You can’t get solar panels for free in Bloomingdale. However, you may still be able to get them on a lower budget. You can lease solar panels for a low upfront cost or, if you’d rather own your solar panels, you can finance them with a solar loan.
Does Bloomingdale have a net metering program?
Each state has some form 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.
What solar power system size is right for my home?
To figure out what solar panel system size you need, you need to know how much energy your home uses 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 home 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.