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.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Deerfield, the typical cost of solar panels is 4 per watt.Because a 6.4-kW system is needed to cover the energy usage of a typical home in Deerfield, the average price of going solar will be about $16,730 after claiming the federal solar tax credit of 0.
Keep in mind that the numbers above are only averages. The price you’ll end up paying for solar may look quite different based on your household energy use, the type of equipment you choose, your solar contractor and more.With typical savings of about $14,000 on energy bills over 20 years, many homeowners in Deerfield find going solar can pay off big.
For a personalized quote from a local solar installer that has been pre-vetted by the EcoWatch team, 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
When switching to solar energy, many homeowners prefer to hire a solar installation company since handling can be a time-consuming project. Also, companies with a good reputation that are more expensive upfront could actually save you money in the long term with their warranties, repair services and expert design.
You can work with a local solar installer to get a free quote on how much solar panels could cost for your home. Here are some near you:
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
Although the average cost of a solar system in Deerfield is $16,730, your actual cost may differ. There are many factors that can have a sizable impact on the cost of a solar panel installation. Below are some of the more important things to take into consideration.
Solar Equipment
The size of the solar panel system you need for your household, 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. The solar equipment you choose can bring your price up or down 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, more efficient panels could save you more over time on your energy bills. In addition, add-on products, such as solar batteries, can bring your total well above the Deerfield average.
Solar Financing Terms
Many homeowners find the average cost of solar in Deerfield to be prohibitively costly, even if the investment pays off over time. Fortunately, almost every solar company in the area provides access to financing options. Solar loans greatly decrease upfront costs for most homeowners, but they also result in higher prices over time due to interest.Although solar loans make going solar more accessible for Deerfield homeowners, they can also add to the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you put down a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
A final consideration when trying to estimate the cost of solar for your home or business in Deerfield is the company you get to install your solar system. Similar to choosing a company to install new cabinets, for instance, there are plenty of solar installers that offer a range of services at different costs.The size of the company sometimes plays the most significant role in the installation costs. Larger national companies, like SunPro and Sunrun, often have lower pricing because they have more resources and better pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or promotion can bring their pricing down to compete with bigger names.
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 companies to choose from in Deerfield, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be tough, so here are some tips to help you decide:
- Warranty: Each company may offer different types of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Contract: Although reading through a contract can take a lot of time, it’s important to do it carefully so you can be sure you understand what services your solar company will provide and the terms of the warranty.
- Installation Process: Homeowners should understand how exactly the installation process will go, as well as important factors like the project timeline.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for clean energy professionals. If your solar panel installer is NABCEP-certified, it likely has a solid reputation and is qualified to do the job well. Another way you can look into your installer’s reputation is by reading reviews.
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
How much does it cost to install solar panels in Deerfield?
The average cost of solar panels in Deerfield is about $18,800 for a 5-kW system and $37,600 for a 10-kW system before the ITC, but the real cost will depend on stuff such as the type of solar panels you want, what size system you need and how much energy you use.
Should I lease or buy solar panels in Deerfield?
Leasing solar panels can be an attractive choice, as it usually comes with low or $0 upfront payments. The downside 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 incentives and your home value won’t increase. Buying solar panels is a better option if you want to get the most savings.
Can solar panels completely eradicate my energy bills?
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 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 the amount of energy they produce will have decreased significantly after that point. You can choose to 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.