Solar Panel Cost Guide in Elmhurst, IL (2023 Update)
- Elmhurst Solar Installation Cost: $12,347
- 25-Year Savings: $10,265
- Payback Period: 13.7 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Elmhurst
We break down average solar pricing in Elmhurst.
The national average cost of solar panels is $2.66 per watt, but in Elmhurst it's 2.73 per watt. The average solar panel system size in Elmhurst is around 6.5 kilowatts, meaning a cost of about $12,345 for a solar installation, or $17,653 before the 30% federal solar tax credit is applied.
These figures are only averages, and how much solar costs for you may look different based on your specific situation and what company you want to go with. Despite the high upfront cost, the average Elmhurst homeowner can save about $13,000 on their power bills over 20 years, which is one of the positives of solar.
For a free quote from a local solar installer that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Elmhurst
| Year | Return on Investment |
|---|---|
| 1 years | $-11,191 |
| 3 years | $-8,878 |
| 5 years | $-6,566 |
| 7 years | $-4,254 |
| 9 years | $-1,941 |
| 11 years | $371 |
| 13 years | $2,683 |
| 15 years | $4,996 |
| 17 years | $7,308 |
| 19 years | $9,620 |
| 21 years | $11,933 |
| 23 years | $14,245 |
| 25 years | $16,558 |
Top Solar Installers in Elmhurst
Although you can install solar panels on your own, it takes extra time and know-how. That's one of the reasons most people choose a solar panel installer. Plus, if you're unsure what brand of solar panels and equipment you want, a solar company can help you figure that out after a site survey and consultation.
You can work with a local solar installer to get a free estimate on how much solar panels could cost for your home. Here are some nearby:
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 Elmhurst
Factors that Affect Solar Panel Costs in Elmhurst
There are a number of criteria that can play into your total 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
One of the most significant factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more power your household consumes, the larger your system will likely need to be. You can expect to spend about $2,730 per kilowatt in Elmhurst. There are several different solar panel brands and the one you pick also affects the cost. Usually, the brands that have better efficiency tend to also cost more. In addition, the type of equipment you're looking to get 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
Most solar installers in Elmhurst provide solar loans, which reduce the initial cost of installing a solar system. You'll have to consider the long-term cost of financing options, including the total interest you'll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or finding a solar loan with a low APR could reduce your costs significantly.
Solar Panel Installation Company
The solar panel installation company you pick will influence your total cost to adopt solar power. Different companies will bill different amounts for the equipment and labor. Additionally, some companies in Elmhurst have more knowledge about local solar incentives and can help you make good use of additional rebates or tax exemptions. Though, they may charge more for that service. 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 | $2.84 | $11,925 | $9,074 | 14.2 years |
| 8 kW | $2.78 | $15,594 | $12,404 | 13.9 years |
| 10 kW | $2.73 | $19,110 | $15,887 | 13.7 years |
| 12 kW | $2.68 | $22,473 | $19,523 | 13.4 years |
| 14 kW | $2.62 | $25,684 | $23,312 | 13.1 years |
| 16 kW | $2.57 | $28,741 | $27,254 | 12.8 years |
| 18 kW | $2.51 | $31,646 | $31,349 | 12.6 years |
| 20 kW | $2.46 | $34,398 | $35,596 | 12.3 years |
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Since choosing a company can be a challenge, we have some tips to help you, such as:
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for clean energy professionals. If your solar panel installer is NABCEP-certified, it likely has a solid reputation and is qualified to install your solar system. Another way you can verify your installer's reputation is by reading reviews.
- Installation Process: An important thing to understand when going solar is the installation process itself. Be sure to clarify any details you should know with your solar company, such as what permits you should acquire and how long the project will take.
- Solar Panel Brands: The kind of solar panel you want to get plays a part in which company you should choose, since different companies provide 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 Elmhurst, IL Solar Cost FAQs
What is the average cost of installing solar panels in Elmhurst?
This is a difficult 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 above-average energy usage. On the flip side, you can spend less if you want a smaller solar panel system or cheaper solar panels.
Can you get solar panels for free in Elmhurst?
Solar panels aren't free in Elmhurst, but there are some options that can make getting them more feasible, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that you can take advantage of.
Do solar panels increase your home value?
Solar panels can increase the value of your home considerably as long as you buy or finance your panels and don't go 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 goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher 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.