Solar Panel Cost Guide in Calumet Park, IL (2023 Update)

  • Calumet Park Solar Installation Cost: $12,211
  • 25-Year Savings: $10,400
  • Payback Period: 13.5 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated May 04, 2023

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We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Calumet Park

Find out what the average cost of solar panels are in Calumet Park.

Currently, the national average cost of solar panels is $2.66 per watt. However, in Calumet Park, the typical cost of a solar system is 2.73 per watt. To account for the typical energy usage of the average home in Calumet Park, most homeowners require a 6.4-kilowatt system. Using the per-watt figure above, a solar installation costs about $12,211, or $17,462 before the federal solar tax credit of 30% is applied.

The prices above are just estimates to give you an idea of how much a solar panel system could cost. The actual cost of going solar can vary quite a bit based on multiple factors, such as how many panels you need, your energy usage and what company you go with. Even with the significant upfront cost, the average Calumet Park homeowner can save about $13,000 on their electricity bills over 20 years, which is one of the advantages of solar.

To see your potential ROI and connect with a local solar expert, click the button below.

Solar savings over time in Calumet Park

Year Return on Investment
1 years $-11,307
3 years $-9,498
5 years $-7,689
7 years $-5,880
9 years $-4,071
11 years $-2,262
13 years $-453
15 years $1,356
17 years $3,165
19 years $4,974
21 years $6,783
23 years $8,592
25 years $10,400

Top Solar Installers in Calumet Park

Trying to install solar panels by yourself can be a dangerous undertaking, which is why getting a solar installation company is a good option for many homeowners. The expertise that solar installers offer can be useful as well, especially if you don't quite know what kind of solar equipment would be right for your home.

You can work with a local solar installer to get a free quote on how much your investment in solar could cost for your home. Here are some near you:

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries

Best Warranty Coverage

Sunpro Solar

★★★★★
4.0

  • Industry-leading warranty coverage
  • Expansive service area
  • Some reported communication issues
  • No leases or PPAs

See all of the solar companies in Calumet Park

Factors that Affect Solar Panel Costs in Calumet Park

For many Calumet Park homeowners, the decision to adopt solar energy depends on cost. However, the range of solar installation costs can be quite wide in Calumet Park, with typical prices between $20,000 to $40,000. There are several factors that greatly influence the price you'll pay, which we'll go over below.

Solar Equipment

System size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of going solar. Because of that, it's a priority to accurately ascertain the size of the solar energy system needed for your home by figuring out your energy needs. The solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you get the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. On the other hand, more efficient panels could save you more over time on your electric bills. Additionally, extra products, like solar batteries, can bump up your total well above the Calumet Park average.

Solar Financing Terms

Solar panels can save you money on utility bills over many years, but they can also be a significant investment. That's why many Calumet Park homeowners decide to finance their solar panel systems to offset upfront costs. However, the interest on solar loans also increases your total 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 making a larger down payment.

Solar Panel Installation Company

The solar panel installer you select will influence your total cost to go solar. Different companies will bill different amounts for the equipment and labor. Additionally, some companies in Calumet Park have more knowledge about local solar incentives and can help you make good use of additional rebates or tax exemptions. Though, they may charge more for that service. Even if they cost more upfront, they could help you save 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 $2.84 $11,925 $9,307 14.0 years
8 kW $2.78 $15,594 $12,715 13.8 years
10 kW $2.73 $19,110 $16,276 13.5 years
12 kW $2.68 $22,473 $19,990 13.2 years
14 kW $2.62 $25,684 $23,856 13.0 years
16 kW $2.57 $28,741 $27,876 12.7 years
18 kW $2.51 $31,646 $32,048 12.4 years
20 kW $2.46 $34,398 $36,374 12.2 years

How to Save on Solar Panels

The company that does your system installation will affect the warranties and brands available to you, 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:

  • Solar Panel Brands: The brand of solar panel you'd like plays a part in which company you should go with, since different companies have access to different panels.
  • Reputation: Solar system installers that have great reviews from their customers and that have been in business for many years most likely offer quality solar panel installation and expertise.
  • Contract: Although reading through a contract can take a lot of time, it's important to do it fully so you can make sure you understand what services your solar company will provide and how part repairs and replacements will be handled.
  • Warranty: Warranties that cover panel repairs and maintenance over a couple decades are the best you can get in the business, and offering such a warranty is one indication of a quality company.

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries

Best Warranty Coverage

Sunpro Solar

★★★★★
4.0

  • Industry-leading warranty coverage
  • Expansive service area
  • Some reported communication issues
  • No leases or PPAs

EcoWatch's Calumet Park, IL Solar Cost FAQs

What is the average cost of installing solar panels in Calumet Park?

The average cost of solar panels in Calumet Park is about $13,650 for a 5-kW system and $27,300 for a 10-kW system before the ITC, but the actual cost will depend on certain factors such as the type of solar panels you want, what size system you need and how much energy you consume.

Are solar panels free in Calumet Park?

Solar panels aren't free in Calumet Park, but there are some options that can make getting them more viable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can help lower the cost.

Do solar panels increase how much your home is worth?

Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Calumet Park is currently $87,600, so you could be looking at a value of about $3,592 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Calumet Park is a worthwhile investment.

How long do solar panels last in Calumet Park?

Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can choose to replace them after having them for that long or you can continue to use 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.

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