Solar Panel Cost Guide in Dundee, IL (Mar 2023)
- Dundee Solar Installation Cost: $12,479
- 25-Year Savings: $10,133
- Payback Period: 13.8 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Dundee
Let's have a look at the average cost of solar panels in Dundee.
Although the national average of solar panels is $2.66 per watt, solar panels in Dundee typically cost about 2.73. Using this figure, a typical 6.5-kW system would cost about $12,479 before the 30% federal solar tax credit is applied.
The prices above are just estimates to give you an idea of the cost of solar panels. The exact cost of installing solar panels can vary quite a bit based on multiple factors, such as what size system you need, your energy consumption and what solar installer you go with. Despite the high initial cost, the average Dundee homeowner can save around $13,000 on their power bills over 20 years, which is one of the advantages of solar.
You can click the button below to get connected with a top solar company in Dundee that can help you get a more accurate cost estimate for your home.
Solar savings over time in Dundee
| 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 Dundee
Although it's possible to install solar panels on your own, it requires extra effort and handiness. For that reason, most homeowners choose to hire a solar panel installer. A solar installer can also help save you money over the lifespan of your system by offering warranties, repairs and component replacements.
If you'd like to go solar but still aren't sure which solar system installer to go with, here are our suggestions for providers near you:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
Best Technology
Tesla Energy
- 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 Dundee
Factors that Affect Solar Panel Costs in Dundee
Cost is often one of the most important factors for homeowners considering investing in solar. There are a few primary factors that affect your total cost in Dundee: solar equipment and system size, financing options and the solar installation company you choose. We'll cover each of these briefly below.
Solar Equipment
The size of the solar energy system you need for your household, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by about $2,730. There are a lot of different solar panel brands and the one you choose also changes the cost. In many cases, the brands that offer higher efficiency tend to also be more expensive. Additionally, the type of equipment you choose can affect your total cost. If you just need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Many homeowners find the average cost of solar in Dundee to be too steep, even if the investment pays off over time. Thankfully, almost every solar company in the area offers financing options. Solar loans remarkably decrease upfront costs in most cases, but they also lead to paying more over time because of interest. Though solar loans make going solar more accessible for Dundee homeowners, they can also increase the total you pay for your system due to interest. If you make a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
The solar panel installation company you select will impact your total cost to go solar. Different companies will bill different amounts for the equipment and labor. Larger national companies usually have lower costs, but some local companies undercut them by promoting sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or additional services like electric car 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 | $8,851 | 14.3 years |
| 8 kW | $2.78 | $15,594 | $12,107 | 14.1 years |
| 10 kW | $2.73 | $19,110 | $15,516 | 13.8 years |
| 12 kW | $2.68 | $22,473 | $19,077 | 13.5 years |
| 14 kW | $2.62 | $25,684 | $22,792 | 13.2 years |
| 16 kW | $2.57 | $28,741 | $26,660 | 13.0 years |
| 18 kW | $2.51 | $31,646 | $30,680 | 12.7 years |
| 20 kW | $2.46 | $34,398 | $34,853 | 12.4 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you decide on the right company for you, here are some tips to keep in mind:
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for clean energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a good reputation and is qualified to install your solar system. Another way you can verify your installer's reputation is by reading reviews.
- 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 part breaking or the company going out of business.
- Warranty: Many companies offer different types of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Solar Panel Brands: Not all solar companies have the same brands of solar panels, so the brand and type of panel you want can play a large role in the company you go with.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
Best Technology
Tesla Energy
- 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 Dundee, IL Solar Cost FAQs
What is the average cost of installing solar panels in Dundee?
The average cost of solar panels in Dundee 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 stuff such as the type of solar panels you want, what size system you need and how much energy you use.
Should I lease or buy solar panels in Dundee?
Leasing solar panels can be an appealing choice, as it typically comes with low or $0 upfront payments. The drawback is that you won't be able to save as much. If you lease, you don't own the system, so you can't claim any incentives and your home value won't increase. Buying solar panels is a better way to go if you want to maximize your savings.
How much can I save on electricity bills after installing solar panels?
It is possible to eradicate your electricity bills with solar panels, but for most homeowners in Dundee, that will require at least a 10-kW system. Not all homes can accommodate that size system, so you'll want to contact a local solar installer to see how many panels can fit on your roof.
What solar power system size is right for my home?
To figure out how many solar panels you need, you should find out how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can generally produce about 250 to 400 watt-hours per hour, the average home will need 20 to 35 panels.
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.