Solar Panel Cost Guide in Deer Park, IL (2024 Update)
- Deer Park Solar Installation Cost: $16,730
- 25-Year Savings: $10,465
- Payback Period: 18.5 Years
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Average Cost of Solar Panels in Deer Park
Find out what the average cost of solar panels are in Deer Park.
In Deer Park, solar panels cost about 4 per watt on average.To account for the typical energy needs of the average home in Deer Park, most homeowners require a 6.4-kilowatt system. Using the figure above, a solar installation costs about $16,730, or $23,924 before the federal solar tax credit of 0 is applied.
The actual price you pay can go higher or lower than the average in Deer Park depending on several factors, such as the model of solar panels you choose and the solar contractor you hire.But, after you've paid the upfront cost of installation, the payback for most homeowners is typically rewarding, with a net average savings of about $14,000 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 Deer Park
| Year | Return on Investment |
|---|---|
| 1 years | $-15,574 |
| 3 years | $-13,262 |
| 5 years | $-10,949 |
| 7 years | $-8,637 |
| 9 years | $-6,325 |
| 11 years | $-4,012 |
| 13 years | $-1,700 |
| 15 years | $613 |
| 17 years | $2,925 |
| 19 years | $5,237 |
| 21 years | $7,550 |
| 23 years | $9,862 |
| 25 years | $12,174 |
Top Solar Installers in Deer Park
DIY solar panel installation is a possibility, but it's an undertaking that can use up a lot of your time and energy. Using an installer can make swapping over to solar power much easier. Also, companies with an outstanding reputation that cost more upfront could actually save you money in the long run due to their warranties, repair services and expert design.
If you're searching for a solar installer in Deer Park, 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
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
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 Deer Park
Factors that Affect Solar Panel Costs in Deer Park
There are a number of criteria that can influence 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 system.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a variety of factors. One of the main factors is the system size, which is measured in kilowatts (kW). Solar power systems that have greater efficiency or power production use better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $3,760.The type of solar panels and equipment you want is another factor that will substantially influence costs. Solar panels that are more efficient, like monocrystalline panels, tend to be more costly. Plus, solar equipment goes beyond just the solar panels themselves. You’ll also need to decide on the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when looking for a solar system that’s in your budget.
Solar Financing Terms
If paying for a solar system in cash is difficult, solar loans are a popular choice because they lower your upfront costs and allow you to 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 the amount of time it’ll take to pay off the loan.
Solar Panel Installation Company
The solar installer you choose to handle your switch to sustainable energy can play a part in your total costs. There are about 3 solar panel companies operating throughout Deer Park, and each can charge varying amounts for labor and equipment.Some companies only sell high-efficiency and high-priced products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come with an above-average cost. It’s best to do some research and choose a company that has the products, warranties and services you want and also fits 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 | $3.91 | $16,424 | $4,920 | 19.2 years |
| 8 kW | $3.84 | $21,477 | $6,981 | 18.9 years |
| 10 kW | $3.76 | $26,320 | $9,253 | 18.5 years |
| 12 kW | $3.68 | $30,952 | $11,735 | 18.1 years |
| 14 kW | $3.61 | $35,374 | $14,428 | 17.8 years |
| 16 kW | $3.53 | $39,585 | $17,331 | 17.4 years |
| 18 kW | $3.46 | $43,586 | $20,445 | 17.0 years |
| 20 kW | $3.38 | $47,376 | $23,769 | 16.6 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you select the right company for you, here are some tips to keep in mind:
- Reputation: Your solar installer should have a good 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 positive reviews from previous customers.
- Contract: Even though reading through a contract can take a lot of time, it’s important to do it fully so you can be sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
- Warranty: If you care about the endurance of your solar panel system, verifying that your installer offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Installation Process: Get details from your solar company about the installation process and what to expect, such as when the site survey will be completed and how long it will take.
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
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 Deer Park, IL Solar Cost FAQs
What is the average cost of installing solar panels in Deer Park?
This is a tough question to answer exactly, because the cost depends on a variety of 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 cost more if you want additional solar equipment or higher quality panels, or if you have above-average energy usage. On the flip side, you can spend less if you go with a smaller solar panel system or less efficient solar panels.
What other factors should I consider apart from cost when buying solar panels?
The upfront cost is a key factor to consider, but whether it’s the most important for you depends on your goals for going solar. In places where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to be mindful of are the quality and durability of your solar panels.
How much can I save on electricity bills after switching to solar?
Solar panels can potentially eliminate your electricity bills depending on your location and how much sunlight your home gets. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $711.45 per year.
How often do you have to replace solar panels?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is how much energy they produce will have decreased significantly after that point. You can replace them after having 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.