Solar Panel Cost Guide in Dwight, IL (Mar 2023)
- Dwight Solar Installation Cost: $12,173
- 25-Year Savings: $10,439
- Payback Period: 13.5 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Dwight
Let's take a look at the average cost of solar in Dwight.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Dwight, the typical cost of a solar system is 2.73 per watt. The average Dwight homeowner needs a 6.4-kilowatt system, which would cost about $12,173 with the federal tax credit, or $17,407 before the 30% tax credit is applied.
Remember that the numbers above are only averages. The price you'll end up paying for solar may look quite different based on your household energy use, the type of solar panels you want, your solar contractor and more. Despite the high initial cost, the average Dwight homeowner can save about $13,000 on their electricity bills over 20 years, which is one of the advantages of solar.
Click the button below to get connected to a reputable solar panel company in Dwight for a custom estimate.
Solar savings over time in Dwight
| Year | Return on Investment |
|---|---|
| 1 years | $-11,269 |
| 3 years | $-9,460 |
| 5 years | $-7,651 |
| 7 years | $-5,842 |
| 9 years | $-4,033 |
| 11 years | $-2,224 |
| 13 years | $-415 |
| 15 years | $1,394 |
| 17 years | $3,203 |
| 19 years | $5,012 |
| 21 years | $6,821 |
| 23 years | $8,630 |
| 25 years | $10,439 |
Top Solar Installers in Dwight
When making the switch to solar, many homeowners decide to go with a solar installer since overseeing your solar installation yourself can be a time-consuming project. A solar company can also help save you money over time by offering warranties, repairs and system component replacements.
If you're looking for a solar installer in Dwight, the EcoWatch team has put together 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
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 Dwight
Factors that Affect Solar Panel Costs in Dwight
The cost of installing a solar system in Dwight 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 your household needs, and other factors include the equipment you choose, financing options and the solar installer you choose.
Solar Equipment
The size of the solar energy system you need, 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 around $2,730. There are many different solar panel brands and the one you choose also changes the cost. In general, the brands that offer higher efficiency tend to also cost more. Plus, the type of equipment you choose can affect your total cost. If you only need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Solar panels can save you money on power bills over many years, but they can also be a big investment. That's why many Dwight homeowners decide to finance their solar panel systems to offset upfront costs. However, the interest on solar loans also increases your total costs, so it's important to include that in your estimate as well. You can always lower the total you pay in interest and possibly even your APR by putting more money down.
Solar Panel Installation Company
The remaining major cost factor you should consider is the installer you choose. Given the booming popularity of green energy solutions in Dwight, you'll have a great number of options to choose from, but each comes at varying price points for labor and equipment. The size of the company can sometimes play the most significant role in the cost. Larger national companies, like SunPro and Sunrun, often have lower pricing because they have greater resources and bulk pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or discount can bring their pricing lower to compete with bigger names.
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 | $9,362 | 14.0 years |
| 8 kW | $2.78 | $15,594 | $12,788 | 13.7 years |
| 10 kW | $2.73 | $19,110 | $16,367 | 13.5 years |
| 12 kW | $2.68 | $22,473 | $20,099 | 13.2 years |
| 14 kW | $2.62 | $25,684 | $23,984 | 12.9 years |
| 16 kW | $2.57 | $28,741 | $28,022 | 12.7 years |
| 18 kW | $2.51 | $31,646 | $32,213 | 12.4 years |
| 20 kW | $2.46 | $34,398 | $36,556 | 12.1 years |
How to Save on Solar Panels
There are numerous companies to choose from in Dwight, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be tough, so here are some tips to help you decide:
- Installation Process: Make sure you're aligned with the installer with regard to how the installation process will go and what you need to do before your solar system is installed, such as updating or replacing your electrical system or roof.
- Warranty: A high-quality company stands out from other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Contract: Look through the contract terms closely to make sure you understand how much it will cost, project completion timeline incentives and warranties.
- Solar Panel Brands: The model of solar panel you'd like to install plays a role in which installer you should opt for, since different companies offer different panels.
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 Dwight, IL Solar Cost FAQs
What is the average cost of installing solar panels in Dwight?
This is a tough question to answer precisely, because the cost depends on a few different factors. Broadly speaking, it costs about $13,650 for a 5-kW system and $27,300 for a 10-kW system after the ITC is applied. It will be more expensive if you want additional solar equipment or more efficient panels, or if you have above-average energy usage. Conversely, you can spend less if you want a smaller solar panel system or less efficient solar panels.
Is cost the most important consideration when buying solar panels?
The upfront cost is a crucial factor to consider, but whether it's the most important for you depends on why you decided to go solar. In places where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to be mindful of are the quality and durability of your solar panels.
How will installing solar panels impact my property value?
Solar panels can increase your home value remarkably as long as you buy or finance your panels and don't opt for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing solar panels."
How often do you have to replace solar panels?
On average, solar panels can last 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.