Solar Panel Cost Guide in Deerfield, IL (2024 Update)
- Deerfield Solar Installation Cost: $16,730
- 25-Year Savings: $12,174
- Payback Period: 18.5 Years
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Average Cost of Solar Panels in Deerfield
Find out how much it might cost to switch to solar power in Deerfield.
In Deerfield, solar panels cost about 4 per watt on average.Using this figure, a typical 6.4-kW system would cost about $16,730 before the 0 federal solar tax credit is applied.
The prices above are just estimates to give you an idea of how much a solar energy system could cost. The actual cost of going solar can vary quite a bit based on multiple factors, such as how many panels you need, your energy consumption and what company you go with.For most homeowners, the upfront investment in solar is worth paying. On average homeowners in Deerfield see about $14,000 in savings on utility bills over 20 years.
To receive a free estimate from a pre-vetted solar installation company in Deerfield, you can click the button below.
Solar savings over time in Deerfield
| 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 Deerfield
Although you can install solar panels on your own, it takes extra energy and handiness. That's one of the reasons most homeowners choose to hire a solar panel installer. Companies can also offer access to quality options of the best solar panels and help you choose which one will be best for you.
Working with a licensed solar installer can help you make the most of your investment in solar. Here are our recommendations:
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 Deerfield
Factors that Affect Solar Panel Costs in Deerfield
For many Deerfield homeowners, the decision to install a solar energy system depends on cost. However, the range of solar installation costs can be quite wide in Deerfield, with typical prices between $20,000 to $40,000. There are various factors that considerably influence the price you’ll pay, which we'll go over 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 around $3,760. Some solar brands — like Maxeon from SunPower — cost more upfront but also tend to offer higher efficiency. In a city like Deerfield, where sunlight is relatively abundant, efficiency can quickly pay off. Plus, if you have a small roof or limited space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Most solar installers in Deerfield have solar loans, which reduce the initial cost of installing solar.It’s wise to factor the interest you’ll pay in your final cost estimate. If you can afford to put more money down upfront, 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 company you choose will play a role in your total cost to make the switch to solar . Different companies will bill different amounts for the equipment and labor.Additionally, some companies in Deerfield know more about local solar incentives and can help you make good use of 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 | $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 large number of companies available in Deerfield, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be tough, so here are some tips to help you decide:
- Warranty: Many companies offer different types of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Contract: It’s important to read through your solar installer’s contract thoroughly to understand what services they will provide, what the warranty covers and what you can expect about your solar system’s energy production.
- Installation Process: One of the most important things to understand when adopting solar power is the installation process itself. Be sure to align on any details you need to know with your solar installer, such as what permits you should acquire and how long the project will take.
- Reputation: Companies that have been operating 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 adequate aftercare and customer support, such as part repairs and replacements.
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 Deerfield, IL Solar Cost FAQs
What is the average cost of installing solar panels in Deerfield?
This is a hard question to answer precisely, because the cost depends on many factors. Generally speaking, it costs about $18,800 for a 5-kW system and $37,600 for a 10-kW system after the ITC is applied. You can expect to pay more if you want extra solar equipment or higher quality 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 Deerfield?
Leasing solar panels can be an appealing choice, because it often 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 option if you want to maximize your savings.
Can solar panels eliminate my electricity bills?
It is possible to erase your electricity bills with solar panels, but for most homeowners throughout Deerfield, that will require at least a 10-kW system. Not all homes will have the roof space for that size system, so you’ll want to contact a local solar installer to see how many panels can fit on your roof.
How long do solar panels last in Deerfield?
Though 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 their energy production will have decreased significantly after that point. You can decide to replace them after having them for that long or you can keep using 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.