Solar Panel Cost Guide in Deer Park, IL (2023 Update)
- Deer Park Solar Installation Cost: $12,154
- 25-Year Savings: $10,458
- Payback Period: 13.4 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated May 04, 2023
Why you can trust EcoWatch
Average Cost of Solar Panels in Deer Park
Find out what the average cost of installing solar panels is in Deer Park.
While the national average of solar panels is $2.66 per watt, solar panels in Deer Park typically cost around 2.73. The average solar panel system size in Deer Park is around 6.4 kilowatts, meaning a cost of about $12,154 for a solar installation, or $17,380 before the 30% federal solar tax credit is applied.
The actual price you pay can go higher or lower than the average in Deer Park depending on a few factors, such as the type of solar panels you choose and the solar company you hire. But, after you've paid the initial cost of installation, the savings for most homeowners is usually good, with a net average savings of about $14,000 over 20 years on energy bills.
To receive a free quote from a pre-vetted solar company in Deer Park, you can click the button below.
Solar savings over time in Deer Park
| Year | Return on Investment |
|---|---|
| 1 years | $-11,249 |
| 3 years | $-9,441 |
| 5 years | $-7,632 |
| 7 years | $-5,823 |
| 9 years | $-4,014 |
| 11 years | $-2,205 |
| 13 years | $-396 |
| 15 years | $1,413 |
| 17 years | $3,222 |
| 19 years | $5,031 |
| 21 years | $6,840 |
| 23 years | $8,649 |
| 25 years | $10,458 |
Top Solar Installers in Deer Park
Although it's possible to install solar panels yourself, it takes extra labor and knowledge. That's one of the reasons most people choose to go with a solar panel installer. Plus, if you're not certain what type of solar panels and equipment you want, a solar company can help you figure that out after a site survey and consultation.
If you're searching for a solar company in Deer Park, we've compiled 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
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
See all of the solar companies in Deer Park
Factors that Affect Solar Panel Costs in Deer Park
Cost is usually one of the most important factors for homeowners wanting to invest in solar. There are a few primary factors that determine your overall cost in Deer Park: solar equipment and system size, financing options and the solar installation company you choose. We'll go over each of these briefly below.
Solar Equipment
The size of the solar energy system you need to offset your energy usage, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by nearly $2,730. The brand and type of equipment you choose for your solar system can raise or lower the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these are often more expensive than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have a small roof or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to greater savings over time. Also, if you want additional equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
Most solar installers in Deer Park provide solar loans, which reduce the initial cost of installing a solar system. You'll have to consider the long-term cost of loans, including the total interest you'll pay over the length of the loan. If you're only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the principal cost. Making a larger down payment or finding a solar loan with a low interest rate could reduce your costs significantly.
Solar Panel Installation Company
Lastly, the company you get to install your solar system can impact how much it costs. Deer Park's solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Deer Park know more about local solar incentives and can help you take advantage of additional rebates or tax exemptions. Though, they may charge more for walking you through the whole process. Even if they cost more upfront, they could help you save 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 | $9,419 | 14.0 years |
| 8 kW | $2.78 | $15,594 | $12,864 | 13.7 years |
| 10 kW | $2.73 | $19,110 | $16,463 | 13.4 years |
| 12 kW | $2.68 | $22,473 | $20,214 | 13.2 years |
| 14 kW | $2.62 | $25,684 | $24,118 | 12.9 years |
| 16 kW | $2.57 | $28,741 | $28,175 | 12.6 years |
| 18 kW | $2.51 | $31,646 | $32,384 | 12.4 years |
| 20 kW | $2.46 | $34,398 | $36,747 | 12.1 years |
How to Save on Solar Panels
There are a large number of companies available in Deer Park, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be difficult, so here are some tips to help you decide:
- 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 service, such as part repairs and replacements.
- Warranty: Warranties that provide coverage for panel repairs and maintenance over a long period of time such as 25 years are the best you can get in the business, and offering such a warranty is one mark of a quality company.
- Solar Panel Brands: The kind of solar panel you'd like to install plays a role in which installer you should choose, since different companies provide different panels.
- Contract: Look through the contract terms thoroughly to make sure you understand how much it will cost, project completion timeline rebates and warranties.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
EcoWatch's Deer Park, IL Solar Cost FAQs
How much does it cost to install solar panels in Deer Park?
This is a tough question to answer precisely, 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 other 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 opt for a smaller solar panel system or cheaper solar panels.
Should I lease or buy solar panels in Deer Park?
Leasing solar panels can be an option if you can't pay upfront or secure a solar loan, but since you don't own the system, you don't have access to many solar incentives. Also your home value won't increase, so you'll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most financial benefits from going solar.
Does Deer Park have a net metering program?
Most states offer net metering programs of some kind. Through these, you can either be compensated for the extra power your system produces 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.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy usage and the amount of sunlight your roof gets. You can take a 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 install between 20 and 35 panels to cover 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.