Solar Panel Cost Guide in Eldorado, IL (2024 Update)

  • Eldorado Solar Installation Cost: $15,963
  • 25-Year Savings: $11,783
  • Payback Period: 17.1 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated February 03, 2024

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We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Eldorado

Find out what the average cost of solar panel installation is in Eldorado.

Currently, the national average cost of solar panels is $2.66 per watt. However, in Eldorado, the average cost of a solar system is 4 per watt.Because a 6.1-kW system is needed to cover the energy costs of a typical home in Eldorado, the average price of going solar will be about $15,963 after claiming the federal solar tax credit of 0.

The true cost of your system can be higher or lower than the average in Eldorado depending on a few factors, such as the type of solar panels you choose and the solar installer you hire.Even with the significant upfront cost, the average Eldorado homeowner can save about $15,000 on their power bills over 20 years, which is one of the positives of solar.

Click the button below to get connected to a top solar installer in Eldorado for a personalized quote.

Solar savings over time in Eldorado

Year Return on Investment
1 years $-15,112
3 years $-13,411
5 years $-11,709
7 years $-10,008
9 years $-8,307
11 years $-6,605
13 years $-4,904
15 years $-3,203
17 years $-1,502
19 years $200
21 years $1,901
23 years $3,602
25 years $5,304

Top Solar Installers in Eldorado

Installing solar panels yourself can be a dangerous undertaking, which is why getting a solar installation company is a good option for many homeowners. Also, companies with a high reputation that are more expensive upfront could actually save you money in the long term with their warranties, repair services and expert design.

Working with a vetted solar installer can help your solar project go smoothly. Here are our recommendations:

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Solar Financing

Blue Raven Solar

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries

Best for Leasing

Sunrun

★★★★★
4.0

  • 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 Eldorado

Factors that Affect Solar Panel Costs in Eldorado

For many Eldorado homeowners, the decision to install a solar energy system depends on cost. However, the range of solar installation costs can be quite wide in Eldorado, with typical prices between $20,000 to $40,000. There are several factors that considerably influence the price you’ll pay, which we'll go over below.

Solar Equipment

When it comes to estimating the cost of a solar panel system in Eldorado, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are chiefly based on your home’s energy usage, which you can gauge by looking at past energy bills. Your total cost can increase by around $3,760 for each additional kilowatt you need.Some solar panel brands — like Maxeon from SunPower — are more costly upfront but also tend to offer better efficiency. In a city like Eldorado, where sunlight is relatively abundant, efficiency can quickly pay off. Also, if you have a small roof or you don’t have a lot of space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.

Solar Financing Terms

Many homeowners find the average cost of solar in Eldorado to be too costly, even if the investment pays off over time. Fortunately, almost every solar company in the area provides access to financing options. Solar loans substantially decrease upfront costs for most homeowners, but they also result in a higher cost over time because of interest.It’s wise to factor the interest you’ll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and how long it’ll take to pay back the loan.

Solar Panel Installation Company

The solar installer you choose will influence your total cost to make the switch to solar power. Different companies will bill different amounts for the equipment and labor.You may come across national solar installers that have lower prices because of their bigger brand name and access to bulk equipment prices, or you might see small, local installation companies offering deals or promotions to compete with those larger 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 $6,699 17.8 years
8 kW $3.84 $21,477 $9,353 17.4 years
10 kW $3.76 $26,320 $12,218 17.1 years
12 kW $3.68 $30,952 $15,293 16.7 years
14 kW $3.61 $35,374 $18,579 16.4 years
16 kW $3.53 $39,585 $22,075 16.0 years
18 kW $3.46 $43,586 $25,782 15.7 years
20 kW $3.38 $47,376 $29,699 15.4 years

How to Save on Solar Panels

The company that does your solar system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Because picking a company can be difficult, we have some tips to help you, such as:

  • Solar Panel Brands: Each solar panel brand and type has varying levels of quality, durability and energy efficiency. They will come at different prices as well. The company you choose has an impact on which solar panel brands you have access to.
  • Warranty: If you’re concerned about the longevity of your solar panel system, verifying that your company offers a 25-year, all-inclusive warranty can help put you at ease.
  • Reputation: Companies that have been operating for many years likely have a good reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide quality aftercare and customer service, such as part repairs and replacements.
  • Contract: Before you sign a contract with a solar installer, make sure you look it over fully so you understand the terms. Also, ask questions if you’re unsure about some of the terms, such as what the warranty covers and if there are any guarantees about energy production.

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Solar Financing

Blue Raven Solar

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries

Best for Leasing

Sunrun

★★★★★
4.0

  • Expansive service area
  • Many financing options
  • Some reported issues with customer service
  • Some reported issues with door-to-door sales

EcoWatch's Eldorado, IL Solar Cost FAQs

How much does it cost to install solar panels in Eldorado?

This is a tough question to answer precisely, because the cost depends on a few different 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. You can expect to pay more if you want other solar equipment or more efficient panels, or if you have higher-than-average energy consumption. Conversely, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.

Is cost the most important thing to think about when buying solar panels?

Cost is definitely one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.

Do solar panels increase the value of your home?

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 Eldorado is currently $60,767, which means you can look forward to a value of about $2,491 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Eldorado is a fruitful investment.

What solar power system size is right for my home?

The exact number of solar panels you need depends on your household energy needs 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 install 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.

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