Solar Panel Cost Guide in Clear Lake, IL (2024 Update)
- Clear Lake Solar Installation Cost: $16,461
- 25-Year Savings: $14,298
- Payback Period: 15.7 Years
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Average Cost of Solar Panels in Clear Lake
We go over average solar pricing in Clear Lake.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Clear Lake, the average cost of a solar system is 4 per watt.To cover the typical energy usage of the average home in Clear Lake, most homeowners require a 6.3-kilowatt system. Using the figure above, a solar installation costs around $16,461, or $23,539 before the federal solar tax credit of 0 is applied.
Keep in mind that the numbers above are only averages. The price you’ll pay for solar may vary based on your household energy needs, the type of solar system you want, your solar contractor and more.With average savings of about $16,000 on energy bills over 20 years, many homeowners in Clear Lake find installing solar panels has a decent ROI.
You can click the button below to get connected with a top solar installer in Clear Lake for a quote for your home.
Solar savings over time in Clear Lake
| 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 Clear Lake
Installing solar panels on your own can be a challenging undertaking, which is why using a solar installer is a good option for many homeowners. Plus, warranties and repairs from your solar panel company can protect your investment and lower the cost of maintenance over the lifespan of your panels.
If you're looking for a solar company in Clear Lake, we've organized a list of our top suggestions here:
Best National Provider
SunPower
- 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
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
See all of the solar companies in Clear Lake
Factors that Affect Solar Panel Costs in Clear Lake
For many Clear Lake homeowners, the decision to go solar depends on cost. However, the range of solar installation costs can be quite wide in Clear Lake, with typical prices between $20,000 to $40,000. There are various factors that greatly influence the price you’ll pay, which we'll go over below.
Solar Equipment
The size of the solar panel system you need to offset your energy usage, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by about $3,760. The type of solar panels and equipment you get is another factor that will considerably affect costs. Solar panels that are more efficient, like monocrystalline panels, tend to come at a higher price. Plus, solar equipment is more than just the solar panels themselves. You’ll also need to make decisions about the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when looking for a solar system that’s in your budget.
Solar Financing Terms
Many homeowners find the average cost of solar in Clear Lake to be too steep, even if the investment pays off over time. Thankfully, 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 higher prices over time because of interest.However, the interest on solar loans also adds to your overall costs, so it’s important to include that in your estimate as well. You can always reduce the total you pay in interest and sometimes even your APR by making a larger down payment.
Solar Panel Installation Company
A final consideration when trying to estimate the cost of solar for your home or business in Clear Lake is the company you hire to install your PV system. Similar to 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.The company’s size sometimes plays the most considerable role in your total costs. Larger national companies, like SunPro and Sunrun, often have lower pricing due to access to more resources and bulk pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or promotion can bring their pricing down to compete with bigger companies.
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 | $8,759 | 16.3 years |
| 8 kW | $3.84 | $21,477 | $12,100 | 16.0 years |
| 10 kW | $3.76 | $26,320 | $15,651 | 15.7 years |
| 12 kW | $3.68 | $30,952 | $19,413 | 15.4 years |
| 14 kW | $3.61 | $35,374 | $23,386 | 15.1 years |
| 16 kW | $3.53 | $39,585 | $27,569 | 14.7 years |
| 18 kW | $3.46 | $43,586 | $31,963 | 14.4 years |
| 20 kW | $3.38 | $47,376 | $36,567 | 14.1 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you select the right company for you, here are some tips to keep in mind:
- Installation Process: Homeowners should make sure they understand how exactly the installation process will go, as well as important factors like the project timeline.
- Solar Panel Brands: Each solar panel brand and type offers varying levels of quality, longevity and energy efficiency. They will come at different price points as well. The company you choose affects which solar panel brands you have access to.
- Contract: Though reading through a contract can be tedious, it’s important to do it carefully so you can make sure you understand what services your solar company will provide and how part repairs and replacements will be handled.
- Reputation: Solar installers that have great reviews from their customers and that have been in business for many years in most cases provide quality solar panel installation and expertise.
Best National Provider
SunPower
- 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
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
EcoWatch's Clear Lake, IL Solar Cost FAQs
What is the average cost of installing solar panels in Clear Lake?
This is a difficult question to answer exactly, because the cost depends on a variety of 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 extra solar equipment or higher quality panels, or if you have above-average energy needs. On the other hand, you can spend less if you opt for a smaller solar panel system or less efficient solar panels.
What other factors should I consider other than cost when buying solar panels?
Cost is a very important factor to consider, but whether it’s the most important for you depends on why you decided to go solar. In places where rooftop space is limited, efficiency can trump the cost. Other factors that are important to think about are the quality and durability of your solar panels.
How much can I save on electricity bills after installing solar panels?
Solar panels can potentially eliminate your electricity bills depending on where you’re located and how much sunlight your home gets. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $839.43 per year.
How long do solar panels last in Clear Lake?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is how much energy they produce will have decreased significantly after that point. You can opt to replace them once you've had 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.