Solar Panel Cost Guide in Downers Grove, IL (Sep 2022)
- Downers Grove Solar Installation Cost: $12,479
- 25-Year Savings: $10,133
- Payback Period: 13.8 Years
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Updated 9/16/2022
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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. The average Downers Grove homeowner needs a 6.5-kilowatt system, which would cost about $12,479, or $9,234 after the federal solar tax credit of 30% is applied.
The prices above are just estimates to give you an idea of how much solar panels could cost. The exact cost of going solar can vary quite a bit based on several factors, such as how many panels you need, your energy consumption and what installation company you go with. For many homeowners, the upfront cost of solar panels is worth paying. On average Downers Grove homeowners see about $13,000 in savings on utility bills over 20 years.
To get a free estimate from a pre-vetted solar installer in Downers Grove, you can click the button below.
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
Many homeowners opt for a solar installer since trying to put up solar panels by yourself can be time-consuming. Companies can also provide access to a large variety of the best solar panels and help you decide which one will be right for your home.
If you're on the hunt for a solar company in Downers Grove, we've compiled a list of our top suggestions here:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
Best Technology
The Green Panel
- 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
The cost of installing a solar system in Downers Grove can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The largest one is the size of the system your home needs, and other factors include equipment choices, financing options and the solar installer you choose.
Solar Equipment Size
When it comes to estimating the price of solar panels in Downers Grove, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home's energy consumption, which you can gauge by looking at past electricity bills. Your total cost can increase by about $2,730 for each additional kilowatt you need. 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
For some homeowners, paying for a solar system out of pocket can be a challenge. Solar loans are available from most installers in Downers Grove, which can bring down, or in some cases completely eliminate, your upfront costs to make solar more affordable. Although solar loans make adopting solar energy more accessible for Downers Grove homeowners, they can also increase 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 cut back on how much interest you have to pay.
Solar Panel Installation Company
A final consideration when trying to estimate the cost of solar for your home or business in Downers Grove is the company you hire to install your solar panel system. Similar to choosing a company to renovate your kitchen, for example, there are plenty of solar installers that offer a range of services at different costs. Companies that only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally cost more. It's best to do some research and decide on the company that provides the products, warranties and services you're looking for and also fit into your budget.
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 |
Solar Incentives in Downers Grove
| Name | Special Assessment for Solar Energy Systems |
| Incentive Amount | Varies |
| More Info | Click here |
| Name | ComEd - Energy Efficiency Program for Residential |
| Website | Visit here |
| More Info | Click here |
| Name | Solar Renewable Energy Credits |
| Website | Visit here |
| More Info | Click here |
| Name | Residential Renewable Energy Tax Credit |
| Website | Visit here |
| More Info | Click here |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you select the right company for you, here are some tips to keep in mind:
- Solar Panel Brands: Different companies have different brands and models of panels. If you prefer a specific brand, make sure the solar panel installer you're considering has it.
- Contract: When reading over your solar company's contract, ask for clarification about any terms you're not sure of and be sure you understand what happens in scenarios such as a system component breaking or if the company goes out of business.
- Warranty: If you care about the durability of your solar energy system, checking your company offers a 25-year, all-inclusive warranty can help put you at ease.
- Reputation: Your solar installer should have a good reputation as a company and have proven expertise in the field. Two ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has good reviews from previous customers.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
Best Technology
The Green Panel
- 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
How much does it cost to install solar panels in Downers Grove?
This is a tough 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. You can expect to pay more if you want other solar equipment or higher quality panels, or if you have above-average energy needs. On the flip side, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.
Can you get solar panels for free in Downers Grove?
You can't get solar panels for free in Downers Grove. 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'd rather own your solar panels, you can finance them with a solar loan.
How much can I save on energy bills after installing solar panels?
It is possible to eradicate your electricity bills with solar panels, but for most homeowners in Downers Grove, 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 Downers Grove?
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 level 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.
