Solar Panel Cost Guide in Clear Lake, IL (2023 Update)
- Clear Lake Solar Installation Cost: $11,952
- 25-Year Savings: $14,298
- Payback Period: 11.4 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Clear Lake
See how much it might cost to install solar panels in Clear Lake.
The average cost of solar panels in Clear Lake is 2.73 per watt. The average solar panel system size in Clear Lake is around 6.2 kilowatts, meaning a cost of about $11,944 for a solar installation, or $17,080 before the 30% federal solar tax credit is applied.
How much you pay can go higher or lower than the average in Clear Lake based on a variety of factors, such as the model of solar panels you choose and the solar installer you hire. For many homeowners, the upfront investment in solar panels is worth paying. On average Clear Lake homeowners see about $16,000 in savings on electricity bills over 20 years.
To receive a free quote from a pre-vetted solar installation company in Clear Lake, you can click the button below.
Solar savings over time in Clear Lake
| Year | Return on Investment |
|---|---|
| 1 years | $-11,864 |
| 3 years | $-11,689 |
| 5 years | $-11,514 |
| 7 years | $-11,339 |
| 9 years | $-11,164 |
| 11 years | $-10,989 |
| 13 years | $-10,814 |
| 15 years | $-10,639 |
| 17 years | $-10,464 |
| 19 years | $-10,289 |
| 21 years | $-10,114 |
| 23 years | $-9,939 |
| 25 years | $-9,764 |
Top Solar Installers in Clear Lake
When going solar, many homeowners prefer to go with a solar installation company since putting up solar panels yourself can be a time-consuming project. Also, if you'd like to maximize your investment in solar energy, opting for a solar company can help with that as well. Different providers can offer warranties, expertise on installation and sometimes even information on local incentives and net metering programs.
If you'd like to go solar but still aren't sure which solar company to go with, here are our suggestions for providers near you:
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 Clear Lake
Factors that Affect Solar Panel Costs in Clear Lake
There are several criteria that can influence your total installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar system.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to some different factors. One of the major factors is the system size, which is measured in kilowatts (kW). Solar power systems that have better efficiency or power production use better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $2,730. The type of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you opt for 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 over time on your electric bills. Additionally, add-on products, like solar batteries, can bump up your total well above the Clear Lake average.
Solar Financing Terms
Many homeowners find the average cost of solar in Clear Lake to be prohibitively costly, even if the investment pays off over time. Fortunately, almost every solar installer in the area provides access to financing options. Solar loans drastically decrease upfront costs for most homeowners, but they also lead to a higher cost over time due to interest. Even though solar loans make adopting solar energy more accessible for Clear Lake homeowners, they can also add to the total you pay for your system due to interest. If you put down a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The solar company you select will influence your total cost to adopt solar power. Different companies will charge different amounts for the equipment and labor. Companies that 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 offers the products, warranties and services you want 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 | $2.84 | $11,925 | $13,258 | 11.8 years |
| 8 kW | $2.78 | $15,594 | $17,983 | 11.6 years |
| 10 kW | $2.73 | $19,110 | $22,861 | 11.4 years |
| 12 kW | $2.68 | $22,473 | $27,892 | 11.2 years |
| 14 kW | $2.62 | $25,684 | $33,076 | 10.9 years |
| 16 kW | $2.57 | $28,741 | $38,413 | 10.7 years |
| 18 kW | $2.51 | $31,646 | $43,902 | 10.5 years |
| 20 kW | $2.46 | $34,398 | $49,545 | 10.2 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Since picking a company can be difficult, we have some tips to help you, such as:
- Contract: It's important to look over your solar installer's contract carefully to understand what services they will provide, what the warranty covers and what you can expect about the installation process.
- Warranty: An all-inclusive, 25-year warranty can help keep your solar panel system running for years to come and save you money on part replacement and repairs.
- Solar Panel Brands: Different companies will offer various brands and types of panels. If you want a specific brand, make sure the solar installer you're considering has it.
- Reputation: Long-running companies likely have a high reputation. This is important because it ensures that it will not only see your solar project through, but will also provide quality aftercare and customer service, such as part repairs and replacements.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Clear Lake, IL Solar Cost FAQs
How much does it cost to install solar panels in Clear Lake?
This is a difficult question to answer exactly, because the cost depends on a few different 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 be more expensive if you want other solar equipment or more efficient panels, or if you have higher-than-average energy usage. On the flip side, you can spend less if you choose a smaller solar panel system or less expensive solar panels.
Is it better to lease or buy solar panels in Clear Lake?
Leasing solar panels can be an attractive choice, because it often comes with low or $0 upfront payments. The downside 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 incentives and your home value won't increase. Buying solar panels is a better option if you want to maximize your savings.
Is it worth going solar in Clear Lake?
Whether or not solar panels are worth it depends on a variety of factors like the cost of electricity near you and how much direct sunlight your roof gets.
What solar power system size is right for my home?
To figure out how many solar panels you need, you should find out how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can usually 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.