Solar Panel Cost Guide in Bradley, IL (2024 Update)
- Bradley Solar Installation Cost: $16,867
- 25-Year Savings: $10,366
- Payback Period: 18.6 Years
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Average Cost of Solar Panels in Bradley
Find out what the average cost of solar panels are in Bradley.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Bradley, the average cost of solar panels is 4 per watt.Using this figure, a typical 6.4-kW system would cost about $16,867 before the 0 federal solar tax credit is applied.
Keep in mind that the figures above are only estimates based on the average energy use of Bradley homeowners. The price 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.Despite the high upfront cost, the average Bradley homeowner can save around $13,000 on their electricity bills over 20 years, which is one of the advantages of solar.
To calculate your potential ROI and connect with a local solar company, click the button below.
Solar savings over time in Bradley
| Year | Return on Investment |
|---|---|
| 1 years | $-15,710 |
| 3 years | $-13,398 |
| 5 years | $-11,086 |
| 7 years | $-8,773 |
| 9 years | $-6,461 |
| 11 years | $-4,149 |
| 13 years | $-1,836 |
| 15 years | $476 |
| 17 years | $2,789 |
| 19 years | $5,101 |
| 21 years | $7,413 |
| 23 years | $9,726 |
| 25 years | $12,038 |
Top Solar Installers in Bradley
When making the switch to solar, many homeowners choose to use a solar company since installing a solar system yourself can be a difficult project. Plus, if you’re not certain what kind of solar panels and equipment you need, a solar company can help you figure that out after a site survey and consultation.
If you're searching for a solar installer in Bradley, we've 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
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 Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
See all of the solar companies in Bradley
Factors that Affect Solar Panel Costs in Bradley
For many Bradley homeowners, the decision to install solar panels depends on cost. However, the range of solar installation costs can be quite wide in Bradley, with typical prices between $20,000 to $40,000. There are various 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 electricity your household consumes, the larger your system will likely need to be. You can expect to spend around $3,760 per kilowatt in Bradley.The type of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you opt for the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. However, higher efficiency could save you more over time on your power bills. In addition, extra products, such as solar batteries, can bump up your total well above the Bradley average.
Solar Financing Terms
If paying for solar panels in cash is difficult, solar loans are a popular option because they cut back your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years.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 above the equipment and labor cost. Making a larger down payment or getting a solar loan with a low interest rate could reduce your costs significantly.
Solar Panel Installation Company
The remaining key cost factor you should keep in mind is the installer you choose. Given the booming popularity of sustainable energy solutions in Bradley, you’ll have a great number of options to choose from, but each comes at various price points for labor and equipment.Additionally, some companies in Bradley have more knowledge about local solar incentives and can help you make good use of additional rebates or tax exemptions. However, they may charge more for that service. 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 | $4,747 | 19.4 years |
| 8 kW | $3.84 | $21,477 | $6,751 | 19.0 years |
| 10 kW | $3.76 | $26,320 | $8,965 | 18.6 years |
| 12 kW | $3.68 | $30,952 | $11,390 | 18.3 years |
| 14 kW | $3.61 | $35,374 | $14,025 | 17.9 years |
| 16 kW | $3.53 | $39,585 | $16,871 | 17.5 years |
| 18 kW | $3.46 | $43,586 | $19,927 | 17.2 years |
| 20 kW | $3.38 | $47,376 | $23,194 | 16.8 years |
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Since picking a company can be a tough decision, we have some tips to help you, such as:
- Contract: When reading through your solar installer’s contract, ask questions about any terms you’re not sure of and make sure you understand what happens in scenarios like a system part breaking or if the company goes out of business.
- Reputation: Solar panel companies that have great reviews from their customers and that have been in business for many years in most cases offer good-quality solar panel installation and expertise.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their roof configurations and energy needs. Although there are many options for which model of solar panel you can get, not every company will have the exact one you may want or need, so be sure to peruse their list of offerings before deciding.
- Installation Process: Make sure you’re on the same page with the installer regarding how the installation process will go and what needs to be done before your solar system is installed, such as repairing your electrical system or roof.
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 Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
EcoWatch's Bradley, IL Solar Cost FAQs
What is the average cost of installing solar panels in Bradley?
The average cost of solar panels in Bradley 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 certain factors like the type of solar panels you want, what size system you need and how much energy you consume.
Is it better to lease or buy solar panels in Bradley?
Leasing solar panels can be an appealing choice, because it often 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 tax rebates and credits and your home value won’t increase. Buying solar panels is a better way to go if you want to maximize your savings.
Do solar panels increase your 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 Bradley is currently $155,884, which means you could be looking at a value of about $6,391 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Bradley is a worthwhile investment.
How long do solar panels last in Bradley?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is their energy production will have decreased significantly after that point. You can 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.