Solar Panel Cost Guide in Bruce, IL (2024 Update)
- Bruce Solar Installation Cost: $16,938
- 25-Year Savings: $10,314
- Payback Period: 18.7 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Why you can trust EcoWatch
Average Cost of Solar Panels in Bruce
Let’s take a look at the average cost of solar panels in Bruce.
The national average cost of solar panels is $2.66 per watt, but in Bruce it’s 4 per watt.The average solar panel system size in Bruce is around 6.4 kilowatts, meaning a cost of about $16,938 for a solar installation, or $24,221 before the 0 federal solar tax credit is applied.
Remember that the numbers above are only averages. The price you’ll pay for solar may look quite different based on your household energy use, the type of solar panels you want, your solar contractor and more.For most homeowners, the upfront cost of solar power is worth paying. On average Bruce homeowners see about $13,000 in savings on utility bills over 20 years.
Click the button below to get connected to a vetted solar panel company in your area for a customized estimate.
Solar savings over time in Bruce
| Year | Return on Investment |
|---|---|
| 1 years | $-15,782 |
| 3 years | $-13,469 |
| 5 years | $-11,157 |
| 7 years | $-8,845 |
| 9 years | $-6,532 |
| 11 years | $-4,220 |
| 13 years | $-1,908 |
| 15 years | $405 |
| 17 years | $2,717 |
| 19 years | $5,029 |
| 21 years | $7,342 |
| 23 years | $9,654 |
| 25 years | $11,966 |
Top Solar Installers in Bruce
Installing solar panels on your own can be a difficult task, which is why hiring a solar installation company is a good option for many homeowners. A solar installer can also help save you money in the long run by offering warranties, repairs and system component replacements.
There are a number of licensed solar professionals that can help you install your solar system. Here are our suggestions:
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 Bruce
Factors that Affect Solar Panel Costs in Bruce
Cost is usually one of the most important factors for homeowners wanting to invest in solar. There are a few key factors that will push your cost above or below the average in Bruce: solar equipment and system size, financing options and the solar installation company you choose. We’ll discuss each of these briefly below.
Solar Equipment
The size of the solar panel system you need, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by around $3,760. There are a lot of different solar panel brands and the one you pick also changes the cost. Generally speaking, the brands that are more efficient tend to also be more expensive. Additionally, the type of equipment you’re looking to get 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 out of pocket is difficult, solar loans are an affordable route because they lower your upfront costs and let you pay for your system over a term of, on average, between five and seven years.When estimating your overall cost, you should also calculate the interest you’ll pay if you decide on a solar loan. Also, paying a higher down payment can lower the total interest paid over time.
Solar Panel Installation Company
The solar company you hire to handle your switch to renewable energy can play a part in your total costs. There are about 3 solar installation companies in Bruce, and each can charge varying amounts for labor and equipment.Companies that only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally cost more. It’s best to do some research and go with the company that has the products, warranties and services you’re looking for and also fits within your budget.
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 | $4,658 | 19.5 years |
| 8 kW | $3.84 | $21,477 | $6,632 | 19.1 years |
| 10 kW | $3.76 | $26,320 | $8,816 | 18.7 years |
| 12 kW | $3.68 | $30,952 | $11,211 | 18.4 years |
| 14 kW | $3.61 | $35,374 | $13,816 | 18.0 years |
| 16 kW | $3.53 | $39,585 | $16,632 | 17.6 years |
| 18 kW | $3.46 | $43,586 | $19,659 | 17.2 years |
| 20 kW | $3.38 | $47,376 | $22,896 | 16.9 years |
How to Save on Solar Panels
Since the model of solar panels and the company you choose has an impact on your costs and your system’s durability and efficiency, it’s important to pick the right ones for you. Here are some things to keep in mind to help with your decision:
- Contract: Review the contract terms thoroughly to make sure you understand the total cost, project timeline rebates and warranties.
- Solar Panel Brands: The kind of solar panel you want to install plays a role in which company you should go with, since different companies provide different panels.
- Installation Process: One of the most important things to understand when adopting solar energy is the installation process itself. Be sure to clarify any details you need to know with your solar company, such as what permits you should acquire and how long the project will take.
- Warranty: Many companies offer different types of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
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 Bruce, IL Solar Cost FAQs
How much does it cost to install solar panels in Bruce?
This is a difficult question to answer exactly, because the cost depends on a few different factors. Generally speaking, it costs about $18,800 for a 5-kW system and $37,600 for a 10-kW system after the ITC is applied. It will be more expensive if you want extra solar equipment or higher quality panels, or if you have above-average energy needs. Conversely, you can spend less if you opt for a smaller solar panel system or less expensive solar panels.
Should I lease or buy solar panels in Bruce?
Leasing solar panels can be an appealing choice, as it commonly comes with low or $0 upfront payments. The drawback 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.
Is going solar worth it?
Solar panels can be a great investment for a majority of homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your power bills are already pretty low, solar panels might not be for you.
How many solar panels should I get to power my home?
To figure out what solar panel system size you need, you should find out how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can usually 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.