Solar Panel Cost Guide in Cortland, IL (2024 Update)
- Cortland Solar Installation Cost: $17,092
- 25-Year Savings: $10,202
- Payback Period: 18.9 Years
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Average Cost of Solar Panels in Cortland
See how much it might cost to switch to solar power in Cortland.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Cortland, the typical cost of a solar system is 4 per watt.To cover the typical energy needs of the average home in Cortland, most homeowners require a 6.5-kilowatt system. Using the per-watt figure above, a solar installation costs about $17,092, or $24,442 before the federal solar tax credit of 0 is applied.
Remember that the numbers above are only averages. The price you’ll pay for solar may vary based on your household energy consumption, the type of solar panels you want to get, your solar contractor and more.Despite the significant initial cost, the average Cortland homeowner can save around $13,000 on their power bills over 20 years, which is one of the advantages of solar.
To receive a free quote from a pre-vetted solar installation company in Cortland, you can click the button below.
Solar savings over time in Cortland
| Year | Return on Investment |
|---|---|
| 1 years | $-15,936 |
| 3 years | $-13,624 |
| 5 years | $-11,311 |
| 7 years | $-8,999 |
| 9 years | $-6,687 |
| 11 years | $-4,374 |
| 13 years | $-2,062 |
| 15 years | $251 |
| 17 years | $2,563 |
| 19 years | $4,875 |
| 21 years | $7,188 |
| 23 years | $9,500 |
| 25 years | $11,812 |
Top Solar Installers in Cortland
Many homeowners choose to hire a solar installer since figuring out how to install solar panels yourself can be a labor-intensive endeavor. The payback period on an investment in solar panels will vary depending on factors like your location and energy use, but going with a solar company can shorten it. Your provider will be able to help you identify incentives available in your area.
You can get a free quote from a local solar installer on how much solar panels could cost for your home. Here are some near you:
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 Cortland
Factors that Affect Solar Panel Costs in Cortland
There are several factors that can determine your installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar panels.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of installing solar panels. For that reason, it’s crucial to accurately assess the size of the solar energy system needed for your home by figuring out your energy needs.The kind of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you choose the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. However, higher efficiency could save you more over time on your energy bills. Additionally, extra products, such as solar batteries, can bring your total well above the Cortland average.
Solar Financing Terms
If paying for solar panels out of pocket is out of reach, solar loans are an affordable option because they cut back your upfront costs and let you pay for your system over five to seven years on average.It’s wise to include 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 how long it’ll take to pay off the loan.
Solar Panel Installation Company
The solar company you select will impact your total cost to adopt solar energy. Different companies will charge different amounts for the equipment and labor.Some companies only sell high-quality, high-efficiency and high-price products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come at a higher cost. It’s best to do some research and go with the company that offers the products, warranties and services you’re looking for 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 | $3.91 | $16,424 | $4,468 | 19.7 years |
| 8 kW | $3.84 | $21,477 | $6,378 | 19.3 years |
| 10 kW | $3.76 | $26,320 | $8,499 | 18.9 years |
| 12 kW | $3.68 | $30,952 | $10,831 | 18.5 years |
| 14 kW | $3.61 | $35,374 | $13,373 | 18.1 years |
| 16 kW | $3.53 | $39,585 | $16,125 | 17.8 years |
| 18 kW | $3.46 | $43,586 | $19,089 | 17.4 years |
| 20 kW | $3.38 | $47,376 | $22,262 | 17.0 years |
How to Save on Solar Panels
The company that does your solar panel 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:
- Installation Process: Homeowners should make sure they know how exactly the installation process will go, as well as important factors like the project completion timeline.
- Reputation: Companies that have been in business for many years likely have a solid reputation. This is important because it ensures that it will not only see your solar project through, but will also provide adequate aftercare and customer service, such as part repairs and replacements.
- Contract: When looking through your solar installer’s contract, ask questions about any terms you’re not sure of and make sure you understand what happens in scenarios like a system component breaking or if the company goes out of business.
- Solar Panel Brands: The type of solar panel you need plays a part in which company you should go with, since different companies offer different panels.
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 Cortland, IL Solar Cost FAQs
How much does it cost to install solar panels in Cortland?
This is a tough question to answer exactly, because the cost depends on many 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 other solar equipment or more efficient panels, or if you have above-average energy usage. Conversely, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.
Is it better to lease or buy solar panels in Cortland?
Leasing solar panels can be an attractive choice, because 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 maximize your savings.
Can you sell solar power back to the grid in Cortland?
The majority of states have net metering programs of some kind. Through these, you can either get paid for the extra power your system generates or or receive credits to put toward future electricity bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.
How long do solar panels last in Cortland?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can 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.