Solar Panel Cost Guide in Bolingbrook, IL (2023 Update)
- Bolingbrook Solar Installation Cost: $12,422
- 25-Year Savings: $10,190
- Payback Period: 13.7 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Bolingbrook
We go over average solar pricing in Bolingbrook.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Bolingbrook, the average cost of solar panels is 2.73 per watt. Using this figure, a typical 6.5-kW system would cost about $12,422 before the 30% federal solar tax credit is applied.
The prices above are just estimates to give you an idea of the cost of a solar energy system. The exact cost of going solar can vary quite a bit based on multiple factors, such as what size system you need, your energy usage and what installation company you go with. Even with the significant initial cost, the average Bolingbrook homeowner can save about $13,000 on their power bills over 20 years, which is one of the benefits of solar.
Click the button below to get connected to a reputable solar installer in your area for a personalized estimate.
Solar savings over time in Bolingbrook
| Year | Return on Investment |
|---|---|
| 1 years | $-11,517 |
| 3 years | $-9,708 |
| 5 years | $-7,899 |
| 7 years | $-6,090 |
| 9 years | $-4,281 |
| 11 years | $-2,472 |
| 13 years | $-663 |
| 15 years | $1,146 |
| 17 years | $2,954 |
| 19 years | $4,763 |
| 21 years | $6,572 |
| 23 years | $8,381 |
| 25 years | $10,190 |
Top Solar Installers in Bolingbrook
Do-it-yourself solar panel installation is a choice some homeowners opt for, but it's an undertaking that can be a pain. Going with an installer can make switching to solar power much easier. Another good thing about choosing a vetted solar installer is that it'll usually provide warranties and free repairs, which help protect your solar system over time.
You can work with a local solar installer to get a free estimate on how much your investment in solar could cost for your home. Here are some near you:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
See all of the solar companies in Bolingbrook
Factors that Affect Solar Panel Costs in Bolingbrook
There are several criteria that can affect your total installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar system.
Solar Equipment
When it comes to estimating the cost of solar panels in Bolingbrook, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are mainly based on your home's energy usage, which you can gauge by looking at past energy bills. Your overall cost can increase by about $2,730 for each additional kilowatt you need. Some solar brands — like Maxeon from SunPower — cost more upfront but also tend to offer higher efficiency. In a city like Bolingbrook, where sunlight is relatively abundant, efficiency can quickly pay off. Also, if you have a small roof or limited 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 out of pocket is difficult, solar loans are a popular option because they decrease your upfront costs and let you pay for your system over a term of, on average, between five and seven years. Even though solar loans make adopting solar energy more accessible for Bolingbrook homeowners, they can also add to the total you pay for your system due to interest. If you make a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The last key 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 many options to choose from, but each comes at various price points for labor and equipment. The size of the company can sometimes play the most considerable role in the cost. Larger national companies, like SunPro and Sunrun, often have lower pricing because they have access to greater resources and bulk 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 lower 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 | $2.84 | $11,925 | $8,962 | 14.3 years |
| 8 kW | $2.78 | $15,594 | $12,255 | 14.0 years |
| 10 kW | $2.73 | $19,110 | $15,701 | 13.7 years |
| 12 kW | $2.68 | $22,473 | $19,300 | 13.4 years |
| 14 kW | $2.62 | $25,684 | $23,051 | 13.2 years |
| 16 kW | $2.57 | $28,741 | $26,956 | 12.9 years |
| 18 kW | $2.51 | $31,646 | $31,014 | 12.6 years |
| 20 kW | $2.46 | $34,398 | $35,224 | 12.4 years |
How to Save on Solar Panels
Since the brand of solar panels and the company you choose has an impact on your costs and your system's efficiency, production, and durability, it's important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- Solar Panel Brands: The kind of solar panel you want to get plays a role in which company you should go with, since different companies offer different panels.
- Contract: Though reading through a contract can be tedious, it's important to do it fully so you can make sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
- Installation Process: Get detailed information 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: If you're worried about the longevity of your solar energy system, verifying that your company offers a 25-year, all-inclusive warranty can give you some peace of mind.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
EcoWatch's Bolingbrook, IL Solar Cost FAQs
What is the average cost of installing solar panels in Bolingbrook?
This is a hard question to answer exactly, because the cost depends on a variety of factors. Broadly 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 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 choose a smaller solar panel system or less expensive solar panels.
Is cost the most important consideration when buying solar panels?
Cost is a crucial factor to consider, but whether it's the most important for you depends on your goals for going solar. In areas where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to consider are the quality and durability of your solar panels.
How much can I save on electricity bills after switching to solar?
Solar panels can potentially eliminate your electricity bills depending on your location 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 $696.22 per year.
How often do you have to replace solar panels?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can decide to 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.