Solar Panel Cost Guide in Bolingbrook, IL (2024 Update)
- Bolingbrook Solar Installation Cost: $17,096
- 25-Year Savings: $10,199
- Payback Period: 18.9 Years
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Average Cost of Solar Panels in Bolingbrook
Let’s have a look at the average cost of solar panels in Bolingbrook.
The average cost of a solar system in Bolingbrook is 4 per watt.Using this figure, a typical 6.5-kW system would cost about $17,096 before the 0 federal solar tax credit is applied.
Bear in mind that the figures above are only estimates based on the average energy use of Bolingbrook homeowners. The cost of a solar system for your home may be different depending on factors unique to your situation, like your household energy use and solar contractor.Many homeowners find installing solar panels is a rewarding investment. The average homeowner in Bolingbrook can save around $13,000 on their energy bills over 20 years.
For a customized quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Bolingbrook
| Year | Return on Investment |
|---|---|
| 1 years | $-15,940 |
| 3 years | $-13,628 |
| 5 years | $-11,315 |
| 7 years | $-9,003 |
| 9 years | $-6,691 |
| 11 years | $-4,378 |
| 13 years | $-2,066 |
| 15 years | $246 |
| 17 years | $2,559 |
| 19 years | $4,871 |
| 21 years | $7,184 |
| 23 years | $9,496 |
| 25 years | $11,808 |
Top Solar Installers in Bolingbrook
Although it's possible to install solar panels on your own, it requires extra labor and know-how. That's one of the reasons the majority of homeowners choose to hire a solar panel installer. Another good thing about going with a reputable solar installer is that it'll likely provide warranties and free repairs, which help protect your solar investment.
You can get a free quote from a local solar installer on the cost of solar panels for your home. Here are some nearby:
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
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
See all of the solar companies in Bolingbrook
Factors that Affect Solar Panel Costs in Bolingbrook
Cost is usually one of the most important factors for homeowners who are considering investing in solar. There are a few primary factors that will push your cost above or below the average in Bolingbrook: solar equipment and system size, financing options and the solar installation company you choose. We’ll go over each of these briefly below.
Solar Equipment
When it comes to estimating the price of a solar panel system in Bolingbrook, one of the most crucial 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 power bills. Your total cost can increase by about $3,760 for each additional kilowatt you need.There are several different solar panel brands and the one you pick also affects the cost. Usually, the brands that are more efficient tend to also cost more. Plus, the type of equipment you’re looking to install can affect your total cost. If you just need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
If paying for solar panels in cash is out of reach, solar loans are a solid route because they reduce your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years.However, the interest on solar loans also adds to your overall costs, so it’s vital to keep that in mind as well. You can always reduce the total you pay in interest and possibly even your APR by putting more money down.
Solar Panel Installation Company
The last major cost factor you should keep in mind is the installer you choose. Given the booming popularity of clean energy solutions in Bolingbrook, you’ll have lots of options to choose from, but each comes at different price points for labor and equipment.Additionally, some companies in Bolingbrook are more knowledgeable about local solar incentives and can help you take advantage of additional rebates or tax exemptions. However, 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 | $4,463 | 19.7 years |
| 8 kW | $3.84 | $21,477 | $6,372 | 19.3 years |
| 10 kW | $3.76 | $26,320 | $8,491 | 18.9 years |
| 12 kW | $3.68 | $30,952 | $10,821 | 18.5 years |
| 14 kW | $3.61 | $35,374 | $13,361 | 18.1 years |
| 16 kW | $3.53 | $39,585 | $16,112 | 17.8 years |
| 18 kW | $3.46 | $43,586 | $19,074 | 17.4 years |
| 20 kW | $3.38 | $47,376 | $22,246 | 17.0 years |
How to Save on Solar Panels
The company that does your 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: It’s important to look over your solar installer’s contract closely to understand what services they will provide, what the warranty covers and what expectations you should have about the project timeline.
- Solar Panel Brands: The type of solar panel you want plays a role in which installer you should choose, since different companies offer different panels.
- Warranty: If you care about the longevity of your solar panels, checking if your installer offers a 25-year, all-inclusive warranty can help put you at ease.
- Installation Process: An important thing to understand when going solar is the installation process itself. Be sure to align on any details you need to know with your solar installer, such as what permits you should secure and how long the project will take.
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
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
EcoWatch's Bolingbrook, IL Solar Cost FAQs
How much does it cost to install solar panels in Bolingbrook?
This is a difficult question to answer exactly, because the cost depends on a variety of factors. Broadly 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 more efficient panels, or if you have above-average energy usage. On the other hand, you can spend less if you opt for a smaller solar panel system or less expensive solar panels.
What other factors should I consider other than cost when buying solar panels?
Cost is without a doubt one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Is it worth going solar in Bolingbrook?
Solar panels can be a good investment for many homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your power bills are already reasonably low, solar panels might not be for you.
What solar power system size is right for my home?
To figure out how many solar panels you need, you should find out how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can generally 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.