Solar Panel Cost Guide in Cortland, IL (Mar 2023)
- Cortland Solar Installation Cost: $12,402
- 25-Year Savings: $10,209
- Payback Period: 13.7 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Cortland
Find out what the average cost of installing solar panels is in Cortland.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Cortland, the average cost of solar panels is 2.73 per watt. The average Cortland homeowner needs a 6.5-kilowatt system, which would cost about $12,402 with the federal tax credit, or $17,735 before the 30% tax credit is applied.
The true cost of your system can be higher or lower than the average in Cortland depending on several factors, such as the model of solar panels you choose and the solar installer you hire. With typical savings of about $13,000 on utility bills over 20 years, many homeowners in Cortland find going solar has a decent ROI.
For a customized quote from a local solar installer that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Cortland
| Year | Return on Investment |
|---|---|
| 1 years | $-11,498 |
| 3 years | $-9,689 |
| 5 years | $-7,880 |
| 7 years | $-6,071 |
| 9 years | $-4,262 |
| 11 years | $-2,453 |
| 13 years | $-644 |
| 15 years | $1,165 |
| 17 years | $2,974 |
| 19 years | $4,783 |
| 21 years | $6,591 |
| 23 years | $8,400 |
| 25 years | $10,209 |
Top Solar Installers in Cortland
Many homeowners opt for a solar panel installer since trying to put up solar panels by yourself can be challenging. Companies can also offer access to quality options of the best solar panels and help you choose which one will be right for you.
If you're on the hunt for a solar installer in Cortland, the EcoWatch team has put together a list of our top suggestions here:
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 Cortland
Factors that Affect Solar Panel Costs in Cortland
Cost is often one of the most important factors for homeowners wanting to invest in solar. There are a few major factors that affect your total cost in Cortland: solar equipment and system size, financing options and the solar installation company you choose. We'll cover each of these briefly below.
Solar Equipment
The size of the solar 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, your total will most likely increase by about $2,730. The brand and type of equipment you get for your solar system can raise or lower the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these often have a higher price tag than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have limited roof space or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to greater savings over time. Plus, if you want extra equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Cortland to be prohibitively steep, even if the investment pays off over time. Thankfully, almost every solar installer in the area offers financing options. Solar loans remarkably decrease upfront costs in most cases, but they also lead to paying more over time because of interest. While solar loans make adopting solar energy more accessible for Cortland homeowners, they can also add to the total you pay for your system, depending on your interest rate. If you put down a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
The last significant cost factor you should consider is the installer you choose. Given the booming popularity of sustainable energy solutions in Cortland, you'll have many options to choose from, but each comes at various price points for labor and equipment. The company's size sometimes plays the most considerable role in the cost. Larger national companies, like SunPro and Sunrun, often have lower pricing because they have greater resources and better 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 discount can bring their pricing lower 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 | $2.84 | $11,925 | $8,967 | 14.3 years |
| 8 kW | $2.78 | $15,594 | $12,262 | 14.0 years |
| 10 kW | $2.73 | $19,110 | $15,709 | 13.7 years |
| 12 kW | $2.68 | $22,473 | $19,310 | 13.4 years |
| 14 kW | $2.62 | $25,684 | $23,063 | 13.2 years |
| 16 kW | $2.57 | $28,741 | $26,969 | 12.9 years |
| 18 kW | $2.51 | $31,646 | $31,028 | 12.6 years |
| 20 kW | $2.46 | $34,398 | $35,240 | 12.3 years |
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Because picking a company can be a challenge, we have some tips to help you, such as:
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a solid reputation and is qualified to install your solar system. Another way you can research your installer's reputation is by reading reviews.
- Installation Process: When making the switch to solar power, it's important to maintain an open line of communication with your solar company. Confirm that you understand how the installation process works and the project completion timeline.
- Contract: Look through the contract terms closely to make sure you understand how much it will cost, project completion timeline rebates and warranties.
- Solar Panel Brands: Each solar panel brand and model has 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.
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 Cortland, IL Solar Cost FAQs
How much does it cost to install solar panels in Cortland?
The average cost of solar panels in Cortland is about $13,650 for a 5-kW system and $27,300 for a 10-kW system before the ITC, but the actual cost will depend on things such as the model of solar panels you want, what size system you need and how much energy you use.
Should I lease or buy solar panels in Cortland?
Leasing solar panels can be an attractive choice, as it usually comes with low or $0 upfront payments. The drawback 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 tax rebates and credits and your home value won't increase. Buying solar panels is a better way to go if you want to get the most savings.
Does Cortland have a net metering program?
Most states offer net metering programs of some kind. Through these, you can either receive compensation for the extra power your system produces or or receive credits to put toward future energy bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.
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.
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.