Solar Panel Cost Guide in Byron, IL (2024 Update)
- Byron Solar Installation Cost: $17,094
- 25-Year Savings: $10,200
- Payback Period: 18.9 Years
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Average Cost of Solar Panels in Byron
Let’s take a look at the average cost of solar panels in Byron.
The average cost of a solar system in Byron is 4 per watt.The average Byron homeowner needs a 6.5-kilowatt system, which would cost about $17,094 with the federal tax credit, or $24,444 before the 0 tax credit is applied.
Bear in mind that the figures above are only estimates based on the average energy use of Byron homeowners. The price of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor.Many homeowners find adopting solar power is a sound investment. The average homeowner in Byron can save about $13,000 on their electricity bills over 20 years.
To get a free quote from a pre-vetted solar company in Byron, you can click the button below.
Solar savings over time in Byron
| Year | Return on Investment |
|---|---|
| 1 years | $-15,938 |
| 3 years | $-13,626 |
| 5 years | $-11,313 |
| 7 years | $-9,001 |
| 9 years | $-6,689 |
| 11 years | $-4,376 |
| 13 years | $-2,064 |
| 15 years | $248 |
| 17 years | $2,561 |
| 19 years | $4,873 |
| 21 years | $7,186 |
| 23 years | $9,498 |
| 25 years | $11,810 |
Top Solar Installers in Byron
Installing solar panels yourself can be a challenging undertaking, which is why hiring a solar installer is a good option for many homeowners. Plus, if you’d like to maximize your investment in solar energy, using a solar company can help with that too. Different providers can offer repairs, expertise on installation and sometimes even information on local incentives, rebates and net metering programs.
If you're searching for a solar installer in Byron, 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 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 Byron
Factors that Affect Solar Panel Costs in Byron
The cost of installing a solar system in Byron can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The biggest one is the size of the system your household needs, and other factors include equipment choices, financing options and the solar company you choose.
Solar Equipment
The size of the solar system you need, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by around $3,760. The kind of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you choose 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 electric bills. In addition, extra products, such as solar batteries, can bring your total well above the Byron average.
Solar Financing Terms
Most solar companies in Byron have solar loans, which reduce your upfront costs of installing solar panels.When estimating your overall cost, you should also calculate the interest you’ll pay if you choose to go with a solar loan. Also, paying a higher down payment can reduce the total interest paid over time.
Solar Panel Installation Company
The final major cost factor you should take into consideration is the installer you choose. Given the booming popularity of clean energy solutions in Byron, you’ll have many options to choose from, but each comes at varying price points for labor and equipment.Some companies only sell high-efficiency and high-priced products — 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 choose a company that has the products, warranties and services you’re looking for and also fit into 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 | $4,465 | 19.7 years |
| 8 kW | $3.84 | $21,477 | $6,375 | 19.3 years |
| 10 kW | $3.76 | $26,320 | $8,495 | 18.9 years |
| 12 kW | $3.68 | $30,952 | $10,826 | 18.5 years |
| 14 kW | $3.61 | $35,374 | $13,367 | 18.1 years |
| 16 kW | $3.53 | $39,585 | $16,119 | 17.8 years |
| 18 kW | $3.46 | $43,586 | $19,081 | 17.4 years |
| 20 kW | $3.38 | $47,376 | $22,254 | 17.0 years |
How to Save on Solar Panels
Since the type 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 select the right ones for you. Here are some tips to keep in mind to help with your decision:
- Warranty: If you care about the longevity of your solar panels, checking if your company offers a 25-year, all-inclusive warranty can help put you at ease.
- Reputation: Solar installers that have great reviews from their customers and that have been in business for many years likely offer good-quality solar panel installation and expertise.
- Solar Panel Brands: The kind of solar panel you want to get plays a part in which company you should opt for, since different companies offer different panels.
- Contract: Before signing a contract with a solar installer, make sure you look it over carefully so you understand the terms. Also, ask questions if you’re unsure about some of the terms, such as what the warranty covers and if there are any guarantees about energy production.
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 Byron, IL Solar Cost FAQs
What is the average cost of installing solar panels in Byron?
The average cost of solar panels in Byron 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 stuff like the model of solar panels you want, what size system you need and how much energy you use.
Is it better to lease or buy solar panels in Byron?
Leasing solar panels can be an appealing choice, as it usually 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 it worth going solar in Byron?
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 energy 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 what solar panel system size you need, you should find out how much energy your home uses 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 house 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.