Solar Panel Cost Guide in Clear Lake, IL (Mar 2023)
- Clear Lake Solar Installation Cost: $11,944
- 25-Year Savings: $14,306
- Payback Period: 11.4 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Clear Lake
Let's have a look at the average cost of solar panels in Clear Lake.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Clear Lake, the typical cost of solar panels is 2.73 per watt. To cover the typical energy needs of the average home in Clear Lake, most homeowners require a 6.2-kilowatt system. Using the per-watt figure above, a solar installation costs around $11,944, or $17,080 before the federal solar tax credit of 30% is applied.
These figures are just averages, and the cost of going solar for you will differ based on factors unique to your home and what company you want to go with. Many homeowners find adopting solar power is a sound investment. The average homeowner in Clear Lake can save about $16,000 on their electricity bills over 20 years.
Click the button below to get connected to a vetted solar company in Clear Lake for a custom estimate.
Solar savings over time in Clear Lake
| Year | Return on Investment |
|---|---|
| 1 years | $-10,894 |
| 3 years | $-8,794 |
| 5 years | $-6,694 |
| 7 years | $-4,594 |
| 9 years | $-2,494 |
| 11 years | $-394 |
| 13 years | $1,706 |
| 15 years | $3,806 |
| 17 years | $5,906 |
| 19 years | $8,006 |
| 21 years | $10,106 |
| 23 years | $12,206 |
| 25 years | $14,306 |
Top Solar Installers in Clear Lake
Many homeowners decide to hire a solar panel installer since installing solar panels by yourself can be a labor-intensive endeavor. Plus, 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 installation and sometimes even information on local incentives.
Working with a licensed solar installer can help you make the most of your investment in solar. Here are our recommendations:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
Best Technology
Tesla Energy
- 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 Clear Lake
Factors that Affect Solar Panel Costs in Clear Lake
There are a number of criteria that can affect 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
When it comes to estimating the price of a solar system in Clear Lake, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are primarily based on your home's energy consumption, which you can gauge by looking at past energy bills. Your total cost can increase by around $2,730 for each additional kilowatt you need. The brand of solar panels and equipment you choose is another factor that will greatly influence costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to come at a higher price. Further, solar equipment consists of 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 researching a solar system that's in your budget.
Solar Financing Terms
Most solar companies in Clear Lake have solar loans, which reduce the initial cost of installing solar. It's wise to add the interest you'll pay in your final cost estimate. If you can afford to pay a higher down payment, you can reduce your total costs and the amount of time it'll take to pay off the loan.
Solar Panel Installation Company
The solar installer you hire to handle your switch to green energy can have an effect on your total costs. There are about 3 solar panel companies in Clear Lake, and each can charge different amounts for labor and equipment. Companies that only sell products with high efficiency and therefore a higher price point — 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 find a company that provides the products, warranties and services you're looking for and also is within 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 solar company you opt for will influence not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are a few important things you should keep in mind, including:
- Reputation: Companies that have been in business for many years likely have a good 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 support, such as part repairs and replacements.
- Contract: Even though reading through a contract can take a lot of time, it's important to do it carefully so you can be sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
- Solar Panel Brands: Each solar panel brand and model offers varying levels of quality, durability and efficiency. They will come at different costs as well. The company you choose impacts which solar panel brands you have access to.
- Warranty: A high-quality company rises above other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
Best Technology
Tesla Energy
- 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 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. Generally 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 extra solar equipment or more efficient panels, or if you have higher-than-average energy consumption. On the flip side, you can spend less if you go with a smaller solar panel system or cheaper solar panels.
Is cost the most important consideration when buying solar panels?
Cost is without a doubt one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
Do solar panels increase how much your home is worth?
Solar panels can increase your home value remarkably as long as you buy or finance your panels and don't go for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% with a solar installation."
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 amount of 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.