Solar Panel Cost Guide in Elburn, IL (2023 Update)
- Elburn Solar Installation Cost: $12,479
- 25-Year Savings: $13,909
- Payback Period: 11.8 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Elburn
Find out how much it might cost to make the switch to solar in Elburn.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Elburn, the typical cost of a solar system is 2.73 per watt. The average Elburn 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.
Keep in mind that the numbers above are only averages. The price you'll pay for solar may look quite different based on your household energy needs, the type of solar system you want, your solar contractor and more. With average savings of about $15,000 on energy bills over 20 years, many homeowners in Elburn find investing in solar has a decent ROI.
For a customized quote from a local solar installer that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Elburn
| Year | Return on Investment |
|---|---|
| 1 years | $-11,323 |
| 3 years | $-9,011 |
| 5 years | $-6,698 |
| 7 years | $-4,386 |
| 9 years | $-2,074 |
| 11 years | $239 |
| 13 years | $2,551 |
| 15 years | $4,863 |
| 17 years | $7,176 |
| 19 years | $9,488 |
| 21 years | $11,800 |
| 23 years | $14,113 |
| 25 years | $16,425 |
Top Solar Installers in Elburn
Although you can install solar panels yourself, it takes extra time and expertise. For that reason, almost all homeowners choose a solar panel installer. A solar installer can also help save you money in the long run by offering warranties, repairs and component replacements.
There are various licensed solar professionals that can help you install your solar system. Here are our suggestions:
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 Elburn
Factors that Affect Solar Panel Costs in Elburn
For many Elburn homeowners, the decision to install solar panels comes down to cost. However, the range of solar installation costs can be quite wide in Elburn, with typical prices between $20,000 to $40,000. There are numerous factors that greatly influence the price you'll pay, which we'll go over below.
Solar Equipment
The size of the solar system you need to offset your energy usage, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by about $2,730. There are several different solar panel brands and the one you pick also affects the cost. Usually, the brands that are more efficient tend to also cost more. Additionally, the type of equipment you want to install can affect your total cost. If you only need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be challenging. Solar loans are offered by most installers in Elburn, which can reduce, or in some cases totally eliminate, your upfront costs to make solar more affordable. However, the interest on solar loans also adds to your overall costs, so it's crucial to include that in your estimate as well. You can always reduce the total you pay in interest and in some cases even your APR by making a larger down payment.
Solar Panel Installation Company
The final significant cost factor you should take into consideration is the installer you choose. Given the booming popularity of clean energy solutions in Elburn, you'll have many options to choose from, but each comes at varying price points for labor and equipment. Larger national companies generally 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 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 | $12,320 | 12.3 years |
| 8 kW | $2.78 | $15,594 | $16,733 | 12.1 years |
| 10 kW | $2.73 | $19,110 | $21,298 | 11.8 years |
| 12 kW | $2.68 | $22,473 | $26,017 | 11.6 years |
| 14 kW | $2.62 | $25,684 | $30,888 | 11.4 years |
| 16 kW | $2.57 | $28,741 | $35,912 | 11.1 years |
| 18 kW | $2.51 | $31,646 | $41,089 | 10.9 years |
| 20 kW | $2.46 | $34,398 | $46,419 | 10.6 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Since picking a company can be a challenge, we have some tips to help you, such as:
- Warranty: A comprehensive, 25-year warranty can help keep your solar panel 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 operating for many years in most cases provide good-quality solar panel installation and expertise.
- Contract: Before signing a contract with a solar installer, be sure to look it over completely so you understand the terms. Also, ask questions if you're not certain about some of the terms, such as what to do if a part breaks or malfunctions and what services you can expect from them.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their roof configurations and how much efficiency they need. Although there are many options for which brand of solar panel you can get, not every company will have the exact one you may want or need, so be sure to ask for their list of offerings before deciding.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Elburn, IL Solar Cost FAQs
How much does it cost to install solar panels in Elburn?
This is a tough question to answer exactly, 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. You can expect to pay more if you want extra solar equipment or more efficient panels, or if you have higher-than-average energy usage. Conversely, you can spend less if you choose a smaller solar panel system or cheaper solar panels.
What other factors should I consider other than cost when buying solar panels?
Cost is a very important factor to consider, but whether it's the most important for you depends on why you decided to go solar. In cities where rooftop space is limited, efficiency can trump the cost. Other factors that are important to consider are the quality and durability of your solar panels.
Do solar panels increase how much your home is worth?
Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Elburn is currently $321,000, which means you could be looking at a value of about $13,161 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Elburn is a worthwhile investment.
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 higher amount 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.