Solar Panel Cost Guide in Dwight, IL (2023 Update)
- Dwight Solar Installation Cost: $12,180
- 25-Year Savings: $10,432
- Payback Period: 13.5 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Dwight
Let's take a look at the average cost of solar panels in Dwight.
The national average cost of solar panels is $2.66 per watt, but in Dwight it's 2.73 per watt. The average solar panel system size in Dwight is around 6.4 kilowatts, meaning a cost of about $12,173 for a solar installation, or $17,407 before the 30% federal solar tax credit is applied.
These figures are only averages, and how much solar costs for you will most likely differ based on your energy needs and what company you choose to go with. Despite the high initial cost, the average Dwight homeowner can save around $13,000 on their energy bills over 20 years, which is one of the advantages of solar.
For a personalized quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Dwight
| Year | Return on Investment |
|---|---|
| 1 years | $-12,104 |
| 3 years | $-11,954 |
| 5 years | $-11,803 |
| 7 years | $-11,652 |
| 9 years | $-11,502 |
| 11 years | $-11,351 |
| 13 years | $-11,200 |
| 15 years | $-11,049 |
| 17 years | $-10,899 |
| 19 years | $-10,748 |
| 21 years | $-10,597 |
| 23 years | $-10,446 |
| 25 years | $-10,296 |
Top Solar Installers in Dwight
Many homeowners decide to use a solar installation company since trying to install solar panels by yourself can be a labor-intensive endeavor. Plus, if you aren't sure what kind of solar panels and equipment you need, a solar company can help you find the right equipment for you after a site survey and consultation.
If you're searching for a solar company in Dwight, the EcoWatch team has organized 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
See all of the solar companies in Dwight
Factors that Affect Solar Panel Costs in Dwight
Cost is often one of the most important factors for homeowners wanting to invest in solar. There are a few key factors that determine your overall cost in Dwight: 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 cost of solar panel systems varies by thousands of dollars due to a few different factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems that have better efficiency or power production require better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $2,730. The solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you opt for the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. On the other hand, higher efficiency could save you more over time on your electric bills. Additionally, add-on products, such as solar batteries, can bump up your total well above the Dwight average.
Solar Financing Terms
If paying for a solar system out of pocket is out of reach, solar loans are a solid route because they reduce your upfront costs and let you pay for your system over a term of, on average, between five and seven years. Though solar loans make adopting solar energy more accessible for Dwight homeowners, they can also increase the total you pay for your system, depending on your interest rate. 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 choose will influence your total cost to adopt solar energy. Different companies will bill different amounts for the equipment and labor. Larger national companies generally have lower costs, but some local companies undercut them by offering sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or add-on 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 | $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 many solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you find the right company for you, here are some tips to keep in mind:
- Warranty: A comprehensive, 25-year warranty can help keep your solar system running for years to come and save you money on part replacement and repairs.
- Installation Process: One of the most important things to understand when going solar is the installation process itself. Be sure to clarify any details you should know with your solar installer, such as what permits you should acquire and how long the project will take.
- Solar Panel Brands: The brand of solar panel you need plays a role in which company you should go with, since different companies offer different panels.
- Contract: Review the contract terms thoroughly to make sure you understand the overall cost, project 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 Dwight, IL Solar Cost FAQs
How much does it cost to install solar panels in Dwight?
This is a difficult question to answer exactly, because the cost depends on many 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. You can expect to pay more if you want other solar equipment or higher quality panels, or if you have higher-than-average energy consumption. On the flip side, you can spend less if you choose a smaller solar panel system or less expensive solar panels.
Are solar panels free in Dwight?
A solar panel system isn't free in Dwight, but there are some options that can make getting them more affordable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that you can take advantage of.
Is it worth going solar in Dwight?
Solar panels can be a fruitful investment for many homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your electricity bills are already pretty low, solar panels might not be for you.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy usage and the amount of sunlight your roof gets. You can take a look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to get between 20 and 35 panels to account for their typical energy usage.
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.