Solar Panel Cost Guide in Downers Grove, IL (Feb 2023)

  • Downers Grove Solar Installation Cost: $12,479
  • 25-Year Savings: $10,133
  • Payback Period: 13.8 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated January 20, 2023

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We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Downers Grove

Let's take a look at the average cost of solar in Downers Grove.

Currently, the national average cost of solar panels is $2.66 per watt. However, in Downers Grove, the typical cost of solar panels is $3 per watt. To account for the typical energy usage of the average home in Downers Grove, most homeowners require a 6.5-kilowatt system. Using the figure above, a solar installation costs about $12,479, or $9,234 after the federal solar tax credit of 30% is applied.

Bear in mind that the figures above are only estimates based on the average energy use of Downers Grove homeowners. The cost of a solar system for your home may be different depending on factors unique to your situation, like your household energy use and solar contractor. For many homeowners, the upfront cost of solar power is worth paying. On average homeowners in Downers Grove see about $13,000 in savings on electricity bills over 20 years.

You can click the button below to get connected with a vetted solar company in Downers Grove for a quote for your home.

Solar savings over time in Downers Grove

Year Return on Investment
1 years $-11,574
3 years $-9,765
5 years $-7,956
7 years $-6,148
9 years $-4,339
11 years $-2,530
13 years $-721
15 years $1,088
17 years $2,897
19 years $4,706
21 years $6,515
23 years $8,324
25 years $10,133

Top Solar Installers in Downers Grove

Installing solar panels on your own can be a difficult undertaking, which is why hiring a solar installer is a good option for many homeowners. A solar installer can also help save you money over time by providing warranties, repairs and system component replacements.

Working with a professional solar company can help you make the most of your investment in solar. Here are our recommendations:

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries (coming 2022)

Best Technology

Tesla Energy

★★★★★
4.5

  • 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 Downers Grove

Factors that Affect Solar Panel Costs in Downers Grove

For many Downers Grove homeowners, the decision to go solar depends on cost. However, the range of solar installation costs can be quite wide in Downers Grove, 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

One of the most significant factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household uses, the larger your system will likely need to be. You can expect to spend about $2,730 per kilowatt in Downers Grove. Some solar brands — like Maxeon from SunPower — are more costly upfront but also tend to offer higher efficiency. In a city like Downers Grove, where sunlight is relatively abundant, efficiency can quickly pay off. In addition, 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

Many homeowners find the average cost of solar in Downers Grove to be too costly, even if the investment pays off over time. Fortunately, nearly every solar company in the area provides financing options. Solar loans remarkably decrease upfront costs in most cases, but they also result in a higher cost over time due to interest. It's wise to add 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 how long it'll take to pay back the loan.

Solar Panel Installation Company

The last key cost factor you should take into consideration is the installer you choose. Given the booming popularity of clean energy solutions in Downers Grove, you'll have a great number of options to choose from, but each comes at various price points for labor and equipment. Additionally, some companies in Downers Grove are more knowledgeable about local solar incentives and can help you take advantage of additional rebates or tax exemptions. Though, they may charge more for walking you through the whole process. 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 $2.84 $11,925 $8,840 14.4 years
8 kW $2.78 $15,594 $12,093 14.1 years
10 kW $2.73 $19,110 $15,498 13.8 years
12 kW $2.68 $22,473 $19,057 13.5 years
14 kW $2.62 $25,684 $22,768 13.3 years
16 kW $2.57 $28,741 $26,632 13.0 years
18 kW $2.51 $31,646 $30,649 12.7 years
20 kW $2.46 $34,398 $34,819 12.4 years

How to Save on Solar Panels

The company that does your solar panel installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because picking a company can be a challenge, we have some tips to help you, such as:

  • Solar Panel Brands: Different companies carry different brands and kinds of panels. If you prefer a specific brand, make sure the solar panel installer you're considering has it.
  • Contract: Even though reading through a contract can be tedious, it's important to do it carefully so you can make sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
  • Warranty: Each company may offer different kinds of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
  • Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for sustainable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a good reputation and is qualified to do the job well. Another way you can check your installer's reputation is by reading reviews.

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries (coming 2022)

Best Technology

Tesla Energy

★★★★★
4.5

  • 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 Downers Grove, IL Solar Cost FAQs

What is the average cost of installing solar panels in Downers Grove?

The average cost of solar panels in Downers Grove is about $13,650 for a 5-kW system and $27,300 for a 10-kW system before the ITC, but the actual cost will depend on things such as the type of solar panels you want, what size system you need and how much energy you consume.

Should I lease or buy solar panels in Downers Grove?

Leasing solar panels can be an option if you are unable to pay upfront or secure a solar loan, but since you don't own the system, you can't take advantage of many solar incentives. Also your property value won't increase, so you'll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most financial benefits from going solar.

How will installing solar panels impact the value of my home?

Installing solar panels on your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Downers Grove is currently $404,505, which means you can look forward to a value of about $16,585 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Downers Grove is a worthwhile investment.

How often do you have to replace solar panels?

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.

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