Solar Panel Cost Guide in Deerfield, IL (Mar 2023)
- Deerfield Solar Installation Cost: $12,154
- 25-Year Savings: $10,458
- Payback Period: 13.4 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Deerfield
We break down average solar pricing in Deerfield.
While the national average of solar panels is $2.66 per watt, solar panels in Deerfield generally cost around 2.73. To account for the typical energy needs of the average home in Deerfield, most homeowners require a 6.4-kilowatt system. Using the per-watt figure above, a solar installation costs around $12,154, or $17,380 before the federal solar tax credit of 30% is applied.
The true price you pay can go higher or lower than the average in Deerfield 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 upfront cost of installation, the ROI for most homeowners is quite fruitful, with a net average savings of about $14,000 over 20 years on utility bills.
To see your potential ROI and connect with a local solar expert, click the button below.
Solar savings over time in Deerfield
| 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 Deerfield
Although it's possible to install solar panels on your own, it involves extra effort and expertise. For that reason, most homeowners choose a solar panel installer. Plus, if you aren't sure what kind of solar panels and equipment you need, a solar expert can help you find the right equipment for you after a site survey and consultation.
You can get a free estimate from a local solar installer on the cost of solar panels for your home. Here are some in Deerfield:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
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 Deerfield
Factors that Affect Solar Panel Costs in Deerfield
For many Deerfield homeowners, the decision to install solar panels rests 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 a number of factors that considerably influence the price you'll pay, which we'll go over below.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to some different factors. One of the notable 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. Some solar brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer higher efficiency. In a city like Deerfield, where sunlight is relatively abundant, efficiency can quickly pay off. Also, if you have a small roof or you don't have a lot of 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
For some homeowners, paying for a solar system out of pocket can be challenging. Solar loans are offered by most installers in Deerfield, which can bring down, or in some cases totally eliminate, your upfront costs to make solar more accessible. It's wise to add the interest you'll pay in your final cost estimate. If you can afford to pay a larger down payment, you can reduce your total costs and how long it'll take to pay back the loan.
Solar Panel Installation Company
The solar company you opt for to handle your switch to green energy can play a part in your total costs. There are about 3 solar panel companies in Deerfield, and each can charge varying amounts for labor and equipment. You may see national solar installers that have lower prices because of their larger brand name and access to bulk equipment prices, or you might see small, local installation companies offering deals or specials to compete with those major players.
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
The company that does your system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Since choosing a company can be a tough decision, we have some tips to help you, such as:
- Reputation: Make sure your solar company has a good reputation by confirming it has certifications and licenses, checking its work history and reading reviews by previous customers and solar experts like the EcoWatch team.
- Contract: Though reading through a contract can take a lot of time, it's important to do it thoroughly so you can be sure you understand what services your solar company will provide and how part repairs and replacements will be handled.
- Solar Panel Brands: Each solar panel brand and kind offers varying levels of quality, durability and efficiency. They will come at different costs as well. The company you choose impacts which solar panel brands you have access to.
- Installation Process: When making the switch to solar power, it's necessary to keep an open line of communication with your solar panel installer. See to it that you understand how the installation process will go and the project timeline.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
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 Deerfield, IL Solar Cost FAQs
How much does it cost to install solar panels in Deerfield?
This is a tough question to answer precisely, because the cost depends on a few different factors. Generally 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.
Are solar panels free in Deerfield?
You can't get solar panels for free in Deerfield. However, you may still be able to afford them on a lower budget. You can lease solar panels for a low upfront cost or, if you want to own your solar panels, you can finance them with a solar loan.
Is it worth going solar in Deerfield?
Whether or not solar panels are worth it depends on a variety of factors like how much you pay for electricity and the amount of direct sunlight your roof gets.
How many solar panels should I get to power my home?
To figure out what solar panel system size you need, you need to know how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average household will need 20 to 35 panels.
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.