Solar Panel Cost Guide in Cedar, IL (2023 Update)
- Cedar Solar Installation Cost: $12,191
- 25-Year Savings: $9,412
- Payback Period: 14.1 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Cedar
Find out how much it might cost to go solar in Cedar.
The average cost of solar panels in Cedar is 2.73 per watt. The average solar panel system size in Cedar is around 6.4 kilowatts, meaning a cost of about $12,192 for a solar installation, or $17,435 before the 30% federal solar tax credit is applied.
These figures are just estimates, and how much solar costs for you will vary based on your energy needs and what company you want to go with. But, once you've paid the upfront cost of installation, the return on investment for most homeowners is typically good, with a net average savings of about $13,000 over 20 years on electricity bills.
For a personalized quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Cedar
| Year | Return on Investment |
|---|---|
| 1 years | $-12,119 |
| 3 years | $-11,975 |
| 5 years | $-11,831 |
| 7 years | $-11,687 |
| 9 years | $-11,543 |
| 11 years | $-11,399 |
| 13 years | $-11,255 |
| 15 years | $-11,111 |
| 17 years | $-10,967 |
| 19 years | $-10,823 |
| 21 years | $-10,679 |
| 23 years | $-10,535 |
| 25 years | $-10,391 |
Top Solar Installers in Cedar
Trying to put up solar panels yourself can be a difficult project, which is why hiring a solar installer is a good option for many homeowners. A solar installer can also help save you money in the long run by providing warranties, repairs and system component replacements.
There are several licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
See all of the solar companies in Cedar
Factors that Affect Solar Panel Costs in Cedar
While the average cost of a solar system in Cedar is $12,192, your final cost may differ. There are quite a few factors that can have a major impact on the cost of a solar system installation. Below are some of the more crucial things to keep in mind.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of going solar. That's why it's a priority to accurately assess the size of the solar energy system needed for your home by figuring out your energy needs. The brand and kind of equipment you get for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often come at a higher price than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have a small roof or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to more savings over time. Also, if you want extra equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Solar panels can save you money on energy bills over time, but they can also be a significant investment. That's why many Cedar homeowners decide to finance their solar panel systems to offset upfront costs. However, the interest on solar loans also adds to your total costs, so it's important to take that into consideration as well. You can always reduce the total you pay in interest and in some cases even your APR by making a larger down payment.
Solar Panel Installation Company
A final consideration when trying to evaluate the cost of solar for your home or business in Cedar is the company you choose to install your PV system. As with choosing a company to build a deck or pool, for instance, there are plenty of solar installers that offer a range of services at different costs. You may come across national solar installers that have lower prices because of their larger brand name and access to bulk prices, or you might see small, local installation companies offering deals or promotions to compete with those major players.
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 | $8,393 | 14.7 years |
| 8 kW | $2.78 | $15,594 | $11,497 | 14.4 years |
| 10 kW | $2.73 | $19,110 | $14,753 | 14.1 years |
| 12 kW | $2.68 | $22,473 | $18,163 | 13.8 years |
| 14 kW | $2.62 | $25,684 | $21,725 | 13.5 years |
| 16 kW | $2.57 | $28,741 | $25,440 | 13.3 years |
| 18 kW | $2.51 | $31,646 | $29,308 | 13.0 years |
| 20 kW | $2.46 | $34,398 | $33,329 | 12.7 years |
How to Save on Solar Panels
Since the brand of solar panels and the installation company you choose greatly influences your costs and your system's durability and efficiency, it's important to select the right ones for you. Here are some tips to keep in mind to help with your decision:
- Installation Process: Get details from your solar installer about the installation process and what to expect, including when the site survey will be done and what the project timeline is.
- Solar Panel Brands: Not all solar installers carry the same brands of solar panels, so the brand and type of panel you want can play a big role in the company you choose.
- Contract: Look through the contract terms closely to make sure you understand the cost breakdown, completion timeline rebates and warranties.
- 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 Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Cedar, IL Solar Cost FAQs
What is the average cost of installing solar panels in Cedar?
This is a tough question to answer precisely, 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. It will cost more if you want extra solar equipment or higher quality panels, or if you have higher-than-average energy usage. On the other hand, you can spend less if you opt for a smaller solar panel system or less efficient solar panels.
Are solar panels free in Cedar?
You can't get solar panels for free in Cedar. However, you may still be able to install them on a lower budget. You can lease solar panels for a low upfront cost or, if you'd rather own your solar panels, you can finance them with a solar loan.
Is switching to solar power worth it?
Whether or not solar panels are worth it depends on some different factors like how much you pay for electricity and the amount of direct sunlight your roof gets.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy needs and the average daily sunlight your roof gets. You can look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to buy between 20 and 35 panels to account for their typical energy usage.
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.