Solar Panel Cost Guide in Chatham, IL (2025 Update)
- Chatham Solar Installation Cost: $16,461
- 25-Year Savings: $12,950
- Payback Period: 16.5 Years
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Average Cost of Solar Panels in Chatham
Here’s how much it might cost to go solar in Chatham.
In Chatham, solar panels cost about 4 per watt on average.The average solar panel system size in Chatham is around 6.3 kilowatts, meaning a cost of about $16,461 for a solar installation, or $23,539 before the 0 federal solar tax credit is applied.
The prices above are just estimates to give you an idea of how much a solar energy system could cost. The exact cost of installing solar panels can vary quite a bit based on several factors, such as how many panels you need, your energy usage and what company you go with.Many homeowners find adopting solar power is a fruitful investment. The average homeowner in Chatham can save about $15,000 on their electricity bills over 20 years.
For a customized quote from a local solar installer that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Chatham
| Year | Return on Investment |
|---|---|
| 1 years | $-15,610 |
| 3 years | $-13,909 |
| 5 years | $-12,208 |
| 7 years | $-10,506 |
| 9 years | $-8,805 |
| 11 years | $-7,104 |
| 13 years | $-5,402 |
| 15 years | $-3,701 |
| 17 years | $-2,000 |
| 19 years | $-299 |
| 21 years | $1,403 |
| 23 years | $3,104 |
| 25 years | $4,805 |
Top Solar Installers in Chatham
Many homeowners opt for a solar installer since trying to install solar panels by yourself can be hard. Also, if you’d like to maximize your investment in solar power, going with a solar company can help with that as well. Different providers can offer repairs, expertise on solar panel installation and sometimes even information on local incentives, rebates and net metering programs.
If you're looking for a solar installer in Chatham, we've put together a list of our top suggestions here:
See all of the solar companies in Chatham
Factors that Affect Solar Panel Costs in Chatham
Cost is usually one of the most important factors for homeowners considering investing in solar. There are a few primary factors that determine your overall cost in Chatham: solar equipment and system size, financing options and the solar installation company you choose. We’ll go over each of these briefly below.
Solar Equipment
One of the most important factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more energy your household uses, the larger your system will likely need to be. You can expect to pay around $3,760 per kilowatt in Chatham.The 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. On the other hand, more efficient panels could save you more over time on your power bills. Additionally, add-on products, such as solar batteries, can bump up your total well above the Chatham average.
Solar Financing Terms
Many homeowners find the average cost of solar in Chatham to be too steep, even if the investment pays off over time. Fortunately, nearly every solar company in the area provides access to financing options. Solar loans greatly decrease upfront costs for most homeowners, but they also lead to paying more over time due to interest.It’s wise to add the interest you’ll pay in your final cost estimate. If you can afford to pay a larger down payment, you can reduce your total costs and how long it’ll take to pay back the loan.
Solar Panel Installation Company
Finally, the company you opt for to install your solar panels can influence your pricing. Chatham’s solar companies all have different labor costs and add varying upcharges to equipment. You may come across national solar installers that have lower prices due to their bigger brand name and access to bulk equipment prices, or you might see small, local installation companies offering deals or specials 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 | $3.91 | $16,424 | $7,466 | 17.2 years |
| 8 kW | $3.84 | $21,477 | $10,376 | 16.9 years |
| 10 kW | $3.76 | $26,320 | $13,497 | 16.5 years |
| 12 kW | $3.68 | $30,952 | $16,828 | 16.2 years |
| 14 kW | $3.61 | $35,374 | $20,369 | 15.9 years |
| 16 kW | $3.53 | $39,585 | $24,121 | 15.5 years |
| 18 kW | $3.46 | $43,586 | $28,084 | 15.2 years |
| 20 kW | $3.38 | $47,376 | $32,257 | 14.9 years |
How to Save on Solar Panels
Since the brand of solar panels and the installation company you choose significantly affects your costs and your system’s efficiency, production, and durability, it’s important to select the right ones for you. Here are some things to keep in mind to help with your decision:
- Reputation: Companies that have been in business for many years likely have a high reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide quality aftercare and customer support, such as part repairs and replacements.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their roof configurations and how much efficiency they need. 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 ask for their list of options before deciding.
- Warranty: If you’re concerned about the longevity of your solar energy system, verifying that your installer offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Contract: Before you sign a contract with a solar installer, make sure you look it over fully so you understand the terms. Also, ask questions if you’re not sure about some of the terms, such as what to do if a part breaks or malfunctions and what services you can expect from them.
EcoWatch's Chatham, IL Solar Cost FAQs
How much does it cost to install solar panels in Chatham?
This is a hard question to answer precisely, because the cost depends on many factors. Broadly 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 other solar equipment or higher quality panels, or if you have above-average energy needs. On the other hand, you can spend less if you go with a smaller solar panel system or less efficient solar panels.
What other factors should I consider aside from cost when buying solar panels?
Cost is certainly one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Is making the switch to solar worth it?
Solar panels can be a good 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 fairly low, solar panels might not be for you.
How often do you have to replace solar panels?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher amount of energy production.
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.