Solar Panel Cost Guide in Elmhurst, IL (2024 Update)
- Elmhurst Solar Installation Cost: $17,005
- 25-Year Savings: $10,265
- Payback Period: 18.8 Years
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Average Cost of Solar Panels in Elmhurst
We break down average solar pricing in Elmhurst.
The average cost of a solar system in Elmhurst is 4 per watt.Using this figure, a typical 6.5-kW system would cost about $17,005 before the 0 federal solar tax credit is applied.
Keep in mind that the figures above are only estimates based on the average energy use of Elmhurst homeowners. The cost of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor.But, once you've paid the upfront cost of installation, the return on investment for most homeowners is quite rewarding, with a net average savings of about $13,000 over 20 years on electricity bills.
To calculate your potential ROI and connect with a local solar company, click the button below.
Solar savings over time in Elmhurst
| Year | Return on Investment |
|---|---|
| 1 years | $-15,849 |
| 3 years | $-13,537 |
| 5 years | $-11,224 |
| 7 years | $-8,912 |
| 9 years | $-6,600 |
| 11 years | $-4,287 |
| 13 years | $-1,975 |
| 15 years | $337 |
| 17 years | $2,650 |
| 19 years | $4,962 |
| 21 years | $7,274 |
| 23 years | $9,587 |
| 25 years | $11,899 |
Top Solar Installers in Elmhurst
Trying to put up solar panels by yourself can be a time-consuming task, which is why getting a solar installer is a good option for many homeowners. The expertise that solar companies offer can be invaluable as well, especially if you don’t quite know what type of solar equipment would be right for your home.
You can work with a local solar installer to get a free estimate on the cost of solar panels for your home. Here are some near you:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best for Leasing
Sunrun
- 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 Elmhurst
Factors that Affect Solar Panel Costs in Elmhurst
There are many criteria that can influence your installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar panels.
Solar Equipment
The size of the solar system you need for your household, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by about $3,760. The solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you choose the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. However, more efficient panels could save you more in the long run on your power bills. In addition, extra products, like solar batteries, can bump up your total well above the Elmhurst average.
Solar Financing Terms
Many homeowners find the average cost of solar in Elmhurst to be too expensive, 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.When trying to figure out your overall cost, you should also calculate the interest you’ll pay if you go with a solar loan. Also, paying a higher down payment can reduce the total interest paid over time.
Solar Panel Installation Company
The solar installer you choose to handle your switch to sustainable energy can play a role in your total costs. There are about 3 solar installation companies operating in Elmhurst, and each can charge different amounts for labor and equipment.Additionally, some companies in Elmhurst are more knowledgeable about local solar incentives and can help you learn about additional rebates or tax exemptions. However, they may charge more for walking you through the whole process. Even if they cost more upfront, they could end up saving you more money in the long run.
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 | $4,575 | 19.6 years |
| 8 kW | $3.84 | $21,477 | $6,521 | 19.2 years |
| 10 kW | $3.76 | $26,320 | $8,677 | 18.8 years |
| 12 kW | $3.68 | $30,952 | $11,044 | 18.4 years |
| 14 kW | $3.61 | $35,374 | $13,622 | 18.0 years |
| 16 kW | $3.53 | $39,585 | $16,410 | 17.7 years |
| 18 kW | $3.46 | $43,586 | $19,409 | 17.3 years |
| 20 kW | $3.38 | $47,376 | $22,618 | 16.9 years |
How to Save on Solar Panels
The solar installer you choose will affect not only your total costs, but also the types of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are a few important things you should consider, including:
- Solar Panel Brands: Different companies offer various brands and kinds of panels. If you know you want a specific brand, make sure the solar panel installer you’re considering has it.
- Reputation: Solar installers that have great reviews from their customers and that have been in business for many years in most cases offer quality solar panel installation and expertise.
- Warranty: Warranties that provide coverage for defective panels and repairs over around 25 years are the best you can get in the business, and offering such a warranty is one sign of a quality company.
- Contract: It’s important to look over your solar installer’s contract well to understand what services they will provide, what the warranty covers and what expectations you should have about the installation process.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
EcoWatch's Elmhurst, IL Solar Cost FAQs
What is the average cost of installing solar panels in Elmhurst?
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. It will cost more if you want extra solar equipment or higher quality panels, or if you have higher-than-average energy needs. On the other hand, you can spend less if you want a smaller solar panel system or less efficient solar panels.
Should I lease or buy solar panels in Elmhurst?
Leasing solar panels can be an option if you can’t pay upfront or get a solar loan, but since you don’t own the system, you can’t take advantage of many solar incentives. Also your home value won’t increase, so you’ll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most bang for your buck from going solar.
Does Elmhurst have a net metering program?
Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just give you credit toward your future utility bills.
How many solar panels should I get to power my home?
The exact number of solar panels you need depends on your household energy usage and how much 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 buy 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.