Solar Panel Cost Guide in Crystal Lake, IL (2023 Update)
- Crystal Lake Solar Installation Cost: $12,465
- 25-Year Savings: $10,147
- Payback Period: 13.8 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Crystal Lake
Find out how much it might cost to switch to solar power in Crystal Lake.
While the national average of solar panels is $2.66 per watt, solar panels in Crystal Lake typically cost around 2.73. Using this figure, a typical 6.5-kW system would cost about $12,460 before the 30% federal solar tax credit is applied.
These figures are only estimates, and how much solar costs for you may look different based on your energy needs and what company you go with. But, once you've paid the upfront cost of installation, the savings for most homeowners is quite fruitful, with a net average savings of about $13,000 over 20 years on electricity bills.
For a personalized quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Crystal Lake
| Year | Return on Investment |
|---|---|
| 1 years | $-11,309 |
| 3 years | $-8,997 |
| 5 years | $-6,684 |
| 7 years | $-4,372 |
| 9 years | $-2,059 |
| 11 years | $253 |
| 13 years | $2,565 |
| 15 years | $4,878 |
| 17 years | $7,190 |
| 19 years | $9,502 |
| 21 years | $11,815 |
| 23 years | $14,127 |
| 25 years | $16,439 |
Top Solar Installers in Crystal Lake
When making the switch to solar, many homeowners decide to use a solar installation company since DIY solar panel installation can be a time-consuming project. The expertise that solar companies offer can be helpful as well, particularly if you don't quite know what brand of solar equipment would be right for your home.
Working with a professional solar installer can make going solar easier. Here are our recommendations:
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 Crystal Lake
Factors that Affect Solar Panel Costs in Crystal Lake
There are a number of criteria that can affect your solar system 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
The cost of solar panels varies by thousands of dollars due to a variety of factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems that have greater efficiency or power generation use better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $2,730. The brand and type of equipment you want for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often come at a higher price 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 increase the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Crystal Lake to be too steep, even if the investment pays off over time. Thankfully, almost every solar installer in the area provides financing options. Solar loans drastically decrease upfront costs in most cases, but they also result in higher prices over time because of interest. However, the interest on solar loans also increases your overall costs, so it's important to take that into consideration as well. You can always lower the total you pay in interest and sometimes even your APR by putting more money down.
Solar Panel Installation Company
A final factor to keep in mind when trying to evaluate the cost of solar for your home or business in Crystal Lake is the company you choose to install your solar system. Similar to choosing a company to renovate your kitchen, for instance, there are plenty of solar installers that offer a range of services for different budgets. Additionally, some companies in Crystal Lake have more knowledge about local solar incentives and can help you learn about additional rebates or tax exemptions. However, they may charge more for that service. Even if they cost more upfront, they could end up saving you more money in the long run.
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 | $8,875 | 14.3 years |
| 8 kW | $2.78 | $15,594 | $12,138 | 14.1 years |
| 10 kW | $2.73 | $19,110 | $15,555 | 13.8 years |
| 12 kW | $2.68 | $22,473 | $19,125 | 13.5 years |
| 14 kW | $2.62 | $25,684 | $22,848 | 13.2 years |
| 16 kW | $2.57 | $28,741 | $26,723 | 13.0 years |
| 18 kW | $2.51 | $31,646 | $30,751 | 12.7 years |
| 20 kW | $2.46 | $34,398 | $34,933 | 12.4 years |
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because picking a company can be a tough decision, we have some tips to help you, such as:
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and energy needs. Although there are many options for which kind of solar panel you can get, not every company will have access to the exact one you may want or need, so be sure to take a look at their list of options before deciding.
- Contract: When looking through your solar company's contract, ask questions about any terms you're not sure of and make sure you understand what happens in scenarios such as a system component breaking or the company going out of business.
- Reputation: Your solar installer should have a sound reputation as a company and have verifiable expertise in the field. A couple of ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has good reviews from previous customers.
- Installation Process: Homeowners should make sure they understand how exactly the installation process will be carried out, as well as important factors like the project completion timeline.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Crystal Lake, IL Solar Cost FAQs
What is the average cost of installing solar panels in Crystal Lake?
This is a tough question to answer exactly, because the cost depends on a variety of 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 cost more if you want additional solar equipment or more efficient panels, or if you have higher-than-average energy usage. Conversely, you can spend less if you choose a smaller solar panel system or less expensive solar panels.
Is cost the most important consideration when buying solar panels?
The upfront cost is a crucial factor to consider, but whether it's the most important for you depends on your reasons for going solar. In cities where rooftop space is limited, efficiency can trump the cost. Other factors that are important to take into account are the quality and durability of your solar panels.
How much can I save on electricity bills after switching to solar?
It is possible to erase your electricity bills with solar panels, but for most homeowners in Crystal Lake, that will require at least a 10-kW system. Not all homes will have roofs that can accommodate that size system, so you'll want to check with a local solar installer to see how many panels can fit on your roof.
How long do solar panels last in Crystal Lake?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger 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.