Solar Panel Cost Guide in Downers Grove, IL (2023 Update)
- Downers Grove Solar Installation Cost: $12,486
- 25-Year Savings: $10,126
- Payback Period: 13.8 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Downers Grove
Let's have 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 average cost of a solar system is 2.73 per watt. The average Downers Grove homeowner needs a 6.5-kilowatt system, which would cost about $12,479 with the federal tax credit, or $17,845 before the 30% tax credit is applied.
These figures are only estimates, and how much solar costs for you will vary based on your specific situation and what company you choose to go with. Many homeowners find adopting solar power is a solid investment. The average homeowner in Downers Grove can save around $13,000 on their power bills over 20 years.
You can click the button below to get connected with a top solar installer in Downers Grove for a quote for your home.
Solar savings over time in Downers Grove
| Year | Return on Investment |
|---|---|
| 1 years | $-12,410 |
| 3 years | $-12,260 |
| 5 years | $-12,109 |
| 7 years | $-11,958 |
| 9 years | $-11,807 |
| 11 years | $-11,657 |
| 13 years | $-11,506 |
| 15 years | $-11,355 |
| 17 years | $-11,204 |
| 19 years | $-11,054 |
| 21 years | $-10,903 |
| 23 years | $-10,752 |
| 25 years | $-10,601 |
Top Solar Installers in Downers Grove
When making the switch to solar, many homeowners choose to go with a solar company since handling can be a time-consuming project. Companies can also provide access to quality options of the best solar panels and help you pick which one will be best for your family.
If you'd like to make the switch to solar but still aren't certain which solar system company to go with, here are our recommendations for providers near you:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
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 determined by several factors. The largest one is the size of the system you need, and other factors include the equipment you choose, financing options and the solar company you choose.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of installing solar panels. For that reason, it's a priority to accurately gauge the size of the solar energy system needed for your home by figuring out your energy needs. Some solar brands — like Maxeon from SunPower — cost more upfront but also tend to offer better 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 limited space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Solar panels can save you money on power bills over many years, but they can also be a significant investment. That's why many Downers Grove homeowners choose to finance their solar panel systems to make going solar more affordable. When estimating your overall cost, you should also calculate the interest you'll pay if you decide on a solar loan. Also, paying a higher down payment can lower the total interest paid over time.
Solar Panel Installation Company
The solar panel installer you choose will influence your total cost to go solar. Different companies will bill different amounts for the equipment and labor. Larger national companies generally have lower costs, but some local companies keep up with them by promoting sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or extra services like electric vehicle charger installation, they might be cheaper overall.
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
There are a large number of companies available in Downers Grove, 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: An all-inclusive, 25-year warranty can help keep your solar system running for years to come and save you money on repairs and maintenance.
- Reputation: Solar panel companies that have great reviews from their customers and that have been in business for many years likely offer good-quality solar panel installation and expertise.
- Solar Panel Brands: The type of solar panel you'd like to get plays a role in which installer you should choose, since different companies offer different panels.
- Contract: Review the contract terms thoroughly to make sure you understand how much it will cost, completion timeline rebates and warranties.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Downers Grove, IL Solar Cost FAQs
How much does it cost to install 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 real cost will depend on stuff like the model of solar panels you want, what size system you need and how much energy you consume.
Are solar panels 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 want to own your solar panels, you can finance them with a solar loan.
Does Downers Grove have a net metering program?
Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just give you credit toward your future electricity bills.
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 decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger 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.