Solar Panel Cost Guide in Denning, IL (2023 Update)
- Denning Solar Installation Cost: $11,619
- 25-Year Savings: $11,231
- Payback Period: 12.7 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Denning
We go over average solar pricing in Denning.
The average cost of a solar system in Denning is 2.73 per watt. Using this figure, a typical 6.1-kW system would cost about $11,619 before the 30% federal solar tax credit is applied.
These figures are just estimates, and your own solar costs will look different based on the amount of energy your home requires and what company you choose to go with. Many homeowners find going solar is a solid investment. The average homeowner in Denning can save about $14,000 on their power bills over 20 years.
For a customized quote from a local solar installer that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Denning
| Year | Return on Investment |
|---|---|
| 1 years | $-10,705 |
| 3 years | $-8,877 |
| 5 years | $-7,049 |
| 7 years | $-5,221 |
| 9 years | $-3,393 |
| 11 years | $-1,565 |
| 13 years | $263 |
| 15 years | $2,091 |
| 17 years | $3,919 |
| 19 years | $5,747 |
| 21 years | $7,575 |
| 23 years | $9,403 |
| 25 years | $11,231 |
Top Solar Installers in Denning
Do-it-yourself solar panel installation is a possibility, but it's an undertaking that can take a lot of hard work. Hiring an installer can make swapping over to solar power much easier. The payback period on an investment in solar panels will vary based on factors like your roof configuration and energy use, but going with a solar company can help you reach a break-even point sooner. Your provider will be able to help you identify incentives available in your area.
Working with a vetted solar installer can help you make the most of your investment in solar. Here are our recommendations:
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 Denning
Factors that Affect Solar Panel Costs in Denning
Cost is often one of the most important factors for homeowners who are considering investing in solar. There are a few key factors that will push your cost above or below the average in Denning: 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
When it comes to estimating the cost of a solar system in Denning, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are mainly based on your home's energy usage, which you can gauge by looking at past energy bills. Your overall cost can increase by around $2,730 for each additional kilowatt you need. The type of solar panels and equipment you choose is another factor that will significantly influence costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to be more costly. Moreover, solar equipment is more than just the solar panels themselves. You'll also need to consider 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 solar panels out of pocket is too expensive, solar loans are a popular route because they lower your upfront costs and allow you to pay for your system over five to seven years on average. It's a good idea to include 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 the amount of time it'll take to pay back the loan.
Solar Panel Installation Company
The last major cost factor you should keep in mind is the installer you choose. Given the booming popularity of green energy solutions in Denning, you'll have lots of options to choose from, but each comes at various price points for labor and equipment. Additionally, some companies in Denning are more knowledgeable about local solar incentives and can help you learn about additional rebates or tax exemptions. However, 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 | $10,643 | 13.2 years |
| 8 kW | $2.78 | $15,594 | $14,496 | 13.0 years |
| 10 kW | $2.73 | $19,110 | $18,503 | 12.7 years |
| 12 kW | $2.68 | $22,473 | $22,662 | 12.4 years |
| 14 kW | $2.62 | $25,684 | $26,974 | 12.2 years |
| 16 kW | $2.57 | $28,741 | $31,439 | 11.9 years |
| 18 kW | $2.51 | $31,646 | $36,057 | 11.7 years |
| 20 kW | $2.46 | $34,398 | $40,827 | 11.4 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because choosing a company can be a tough decision, we have some tips to help you, such as:
- Warranty: Companies typically offer different kinds of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Reputation: Your solar installer should have a good reputation as a company and have verifiable expertise in the field. Two ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has good reviews from past customers.
- Contract: Although reading through a contract can take a lot of time, it's important to do it carefully so you can make sure you understand how much the equipment and services will cost and the terms of the warranty.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and how much efficiency they need. While there are many options for which model of solar panel you can get, not every company will have the exact one you may want or need, so be sure to peruse their list of offerings before making your decision.
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 Denning, IL Solar Cost FAQs
How much does it cost to install solar panels in Denning?
This is a difficult question to answer exactly, because the cost depends on many 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 be more expensive 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 less efficient solar panels.
What other factors should I consider in addition to cost when buying solar panels?
Cost is certainly one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
How will solar panels impact my property value?
Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Denning is currently $81,200, which means you could be looking at a value of about $3,329 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Denning is a rewarding investment.
How long do solar panels last in Denning?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher amount of energy production.
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.