Solar Panel Cost Guide in Chatham, IL (Feb 2023)

  • Chatham Solar Installation Cost: $11,944
  • 25-Year Savings: $12,958
  • Payback Period: 12.0 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated January 20, 2023

Why you can trust EcoWatch

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 Chatham

We go over average solar pricing in Chatham.

The average cost of a solar panel system in Chatham is $3 per watt. To cover the typical energy usage of the average home in Chatham, most homeowners require a 6.2-kilowatt system. Using the per-watt figure above, a solar installation costs around $11,944, or $8,839 after the federal solar tax credit of 30% is applied.

Keep in mind that the figures above are only estimates based on the average Chatham homeowner. The cost of a solar system for your home may be different depending on factors unique to your situation, like your household energy use and solar contractor. For most homeowners, the upfront cost of solar power is worth paying. On average homeowners in Chatham see about $15,000 in savings on utility bills over 20 years.

You can click the button below to get connected with a top solar installer in Chatham for a quote for your home.

Solar savings over time in Chatham

Year Return on Investment
1 years $-10,948
3 years $-8,956
5 years $-6,963
7 years $-4,971
9 years $-2,979
11 years $-987
13 years $1,005
15 years $2,997
17 years $4,990
19 years $6,982
21 years $8,974
23 years $10,966
25 years $12,958

Top Solar Installers in Chatham

Although you can install solar panels on your own, it requires extra effort and knowledge. That's one of the reasons most people choose a solar panel installer. Another benefit of utilizing a solar installer is that they can help you make the most of your return of investment by reducing your future costs of repairs and replacements because of warranties and helping you learn about local incentives you can take advantage of.

There are various licensed solar professionals that can help you install your solar system. Here are our suggestions:

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 (coming 2022)

Best Technology

Tesla Energy

★★★★★
4.5

  • 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 Chatham

Factors that Affect Solar Panel Costs in Chatham

There are many factors that can play into your installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that performs the installation.

Solar Equipment

One of the most significant 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 power your household consumes, the larger your system will likely need to be. You can expect to pay around $2,730 per kilowatt in Chatham. There are several different solar panel brands and the one you pick also affects the cost. In many cases, the brands that are more efficient tend to also be more expensive. In addition, the type of equipment you're looking to install can affect your total cost. If you just need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.

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. Thankfully, almost every solar company in the area offers financing options. Solar loans substantially decrease upfront costs for most homeowners, but they also lead to higher prices over time due to interest. When trying to figure out your overall cost, you should also calculate the interest you'll pay if you decide on a solar loan. Also, paying more upfront can reduce the total interest paid over time.

Solar Panel Installation Company

The last significant cost factor you should keep in mind is the installer you choose. Given the booming popularity of green energy solutions in Chatham, you'll have a great number of options to choose from, but each comes at different price points for labor and equipment. You may notice national solar installers that have lower prices due to their bigger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or promotions to compete with those larger companies.

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 $11,965 12.5 years
8 kW $2.78 $15,594 $16,260 12.2 years
10 kW $2.73 $19,110 $20,707 12.0 years
12 kW $2.68 $22,473 $25,307 11.8 years
14 kW $2.62 $25,684 $30,060 11.5 years
16 kW $2.57 $28,741 $34,965 11.3 years
18 kW $2.51 $31,646 $40,024 11.0 years
20 kW $2.46 $34,398 $45,235 10.8 years

How to Save on Solar Panels

There are many companies to choose from in Chatham, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be challenging, so here are some tips to help you decide:

  • Warranty: A quality company rises above other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
  • Contract: Look through the contract terms closely to make sure you understand how much it will cost, project completion timeline incentives and warranties.
  • Solar Panel Brands: The model of solar panel you want plays a role in which company you should opt for, since different companies have access to different panels.
  • Reputation: Solar installers that have great reviews from their customers and that have been in business for many years likely offer quality solar panel installation and expertise.

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 (coming 2022)

Best Technology

Tesla Energy

★★★★★
4.5

  • 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 Chatham, IL Solar Cost FAQs

How much does it cost to install solar panels in Chatham?

The average cost of solar panels in Chatham is about $13,650 for a 5-kW system and $27,300 for a 10-kW system before the ITC, but the real cost will depend on things like the model of solar panels you want, what size system you need and how much energy you consume.

Are solar panels free in Chatham?

A solar panel system isn't free in Chatham, but there are some options that can make getting them more affordable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can further reduce the cost.

Does Chatham have a net metering program?

Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just give you credit toward your future energy bills.

What solar power system size is right for my home?

The exact number of solar panels you need depends on your household energy usage and the amount of sunlight your roof gets. You can take a 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 cover 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.

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