Solar Panel Cost Guide in Dundee, IL (2024 Update)
- Dundee Solar Installation Cost: $17,188
- 25-Year Savings: $10,132
- Payback Period: 19.0 Years
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Average Cost of Solar Panels in Dundee
Find out what the average cost of a solar system is in Dundee.
In Dundee, solar panels cost about 4 per watt on average.To account for the typical energy usage of the average home in Dundee, most homeowners require a 6.5-kilowatt system. Using the per-watt figure above, a solar installation costs around $17,188, or $24,579 before the federal solar tax credit of 0 is applied.
The true price you pay can be higher or lower than the average in Dundee depending on several factors, such as the kind of solar panels you choose and the solar company you hire.But, once you've paid the initial cost of installation, the ROI for most homeowners is usually good, with a net average savings of about $13,000 over 20 years on utility bills.
For a free quote from a local solar installer that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Dundee
| Year | Return on Investment |
|---|---|
| 1 years | $-16,032 |
| 3 years | $-13,719 |
| 5 years | $-11,407 |
| 7 years | $-9,094 |
| 9 years | $-6,782 |
| 11 years | $-4,470 |
| 13 years | $-2,157 |
| 15 years | $155 |
| 17 years | $2,467 |
| 19 years | $4,780 |
| 21 years | $7,092 |
| 23 years | $9,404 |
| 25 years | $11,717 |
Top Solar Installers in Dundee
Many homeowners choose to use a solar installer since installing solar panels on your own can be challenging. The payback period on a solar system will vary based on factors like your location and energy needs, but going with a solar installer can help you reach a break-even point sooner. Your provider will be able to help you identify incentives available in your area.
If you're searching for a solar installer in Dundee, the EcoWatch team has 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
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
See all of the solar companies in Dundee
Factors that Affect Solar Panel Costs in Dundee
The cost of installing a solar system in Dundee can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The biggest one is your system size, and other factors include the equipment you choose, financing options and the solar company you choose.
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 better efficiency or power generation require 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 $3,760.Some solar panel brands — like Maxeon from SunPower — are more costly upfront but also tend to offer higher efficiency. In a city like Dundee, 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 a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Most solar companies in Dundee offer solar loans, which reduce your upfront costs of installing solar.You’ll have to consider the long-term cost of financing options, including the total interest you’ll pay over the length of the loan. If you’re only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or finding a solar loan with a low interest rate could reduce your costs remarkably.
Solar Panel Installation Company
The solar company you opt for to handle your switch to renewable energy can have an effect on your total costs. There are about 3 solar installation companies operating throughout Dundee, and each can charge different amounts for labor and equipment.The size of the company sometimes plays the most considerable role in your costs. Larger national companies, like SunPro and Sunrun, often have lower pricing because they have greater resources and better pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or promotion can bring their pricing down to compete with bigger companies.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $3.91 | $16,424 | $4,352 | 19.8 years |
| 8 kW | $3.84 | $21,477 | $6,223 | 19.4 years |
| 10 kW | $3.76 | $26,320 | $8,306 | 19.0 years |
| 12 kW | $3.68 | $30,952 | $10,599 | 18.6 years |
| 14 kW | $3.61 | $35,374 | $13,102 | 18.2 years |
| 16 kW | $3.53 | $39,585 | $15,816 | 17.9 years |
| 18 kW | $3.46 | $43,586 | $18,740 | 17.5 years |
| 20 kW | $3.38 | $47,376 | $21,875 | 17.1 years |
How to Save on Solar Panels
There are many companies to choose from in Dundee, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be challenging, so here are some tips to help you decide:
- Contract: It’s important to look over your solar installer’s contract carefully to understand what services they will provide, what the warranty covers and what you can expect about the installation process.
- 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 satisfied reviews from past customers.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and energy needs. Although there are many options for which model of solar panel you can get, not every company will have access to the exact one you may want or need, so make sure you ask for their list of options before deciding.
- Installation Process: When going solar, it’s essential to maintain an open line of communication with your solar panel company. See to it that you understand how the installation process works and the project timeline.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
EcoWatch's Dundee, IL Solar Cost FAQs
What is the average cost of installing solar panels in Dundee?
This is a difficult question to answer precisely, because the cost depends on many factors. Broadly speaking, it costs about $18,800 for a 5-kW system and $37,600 for a 10-kW system after the ITC is applied. It will cost more if you want additional solar equipment or higher quality panels, or if you have higher-than-average energy consumption. Conversely, you can spend less if you choose a smaller solar panel system or less expensive solar panels.
What other factors should I consider in addition to cost when buying solar panels?
Cost is definitely one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
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 Dundee is currently $333,281, so you can expect a value of about $13,665 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Dundee is a fruitful investment.
How often do you have to replace solar panels?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can decide to replace them once you've had them for that long or you can continue to use them at a lower efficiency.
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.