Solar Panel Cost Guide in Foster, IL (2025 Update)
- Foster Solar Installation Cost: $16,101
- 25-Year Savings: $14,680
- Payback Period: 15.3 Years
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Average Cost of Solar Panels in Foster
We go over average solar pricing in Foster.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Foster, the typical cost of solar panels is 4 per watt.Using this figure, a typical 6.1-kW system would cost about $16,101 before the 0 federal solar tax credit is applied.
The prices above are just estimates to give you an idea of the cost of a solar panel system. The exact cost of installing solar panels can vary quite a bit based on several factors, such as what size system you need, your energy consumption and what installation company you go with.With typical savings of about $16,000 on energy bills over 20 years, many homeowners in Foster find investing in solar has a decent ROI.
Click the button below to get connected to a vetted solar company in your area for a custom estimate.
Solar savings over time in Foster
| Year | Return on Investment |
|---|---|
| 1 years | $-15,250 |
| 3 years | $-13,549 |
| 5 years | $-11,848 |
| 7 years | $-10,147 |
| 9 years | $-8,445 |
| 11 years | $-6,744 |
| 13 years | $-5,043 |
| 15 years | $-3,341 |
| 17 years | $-1,640 |
| 19 years | $61 |
| 21 years | $1,763 |
| 23 years | $3,464 |
| 25 years | $5,165 |
Top Solar Installers in Foster
Installing solar panels on your own can be a time-consuming undertaking, which is why getting a solar installer is a good option for many homeowners. Plus, if you’re unsure what brand of solar panels and equipment you want, a solar installer can help you figure that out after a site survey and consultation.
If you're on the hunt for a solar company in Foster, the EcoWatch team has compiled a list of our top suggestions here:
See all of the solar companies in Foster
Factors that Affect Solar Panel Costs in Foster
For many Foster homeowners, the decision to adopt solar energy rests on cost. However, the range of solar installation costs can be quite wide in Foster, with typical prices between $20,000 to $40,000. There are a number of factors that significantly 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 significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by about $3,760. The type of 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 over time on your power bills. In addition, extra products, like solar batteries, can bump up your total well above the Foster average.
Solar Financing Terms
Many homeowners find the average cost of solar in Foster to be too costly, even if the investment pays off over time. Thankfully, nearly every solar installer in the area provides access to financing options. Solar loans substantially decrease upfront costs for most homeowners, but they also lead to paying more over time because of interest.When figuring out your overall cost, you should also calculate the interest you’ll pay if you choose to go with a solar loan. Also, paying more upfront can reduce the total interest paid over time.
Solar Panel Installation Company
A final factor to keep in mind when trying to estimate the cost of solar for your home or business in Foster is the company you hire to install your solar system. Similar to choosing a company to renovate your kitchen, for instance, you’ll have many options for solar installers that offer a range of services at different price points.You may come across national solar installers that have lower prices because of their larger brand name and access to bulk prices, or you might see small, local installation companies offering deals or promotions to compete with those major players.
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 | $9,441 | 15.9 years |
| 8 kW | $3.84 | $21,477 | $13,009 | 15.6 years |
| 10 kW | $3.76 | $26,320 | $16,787 | 15.3 years |
| 12 kW | $3.68 | $30,952 | $20,777 | 15.0 years |
| 14 kW | $3.61 | $35,374 | $24,976 | 14.7 years |
| 16 kW | $3.53 | $39,585 | $29,387 | 14.3 years |
| 18 kW | $3.46 | $43,586 | $34,007 | 14.0 years |
| 20 kW | $3.38 | $47,376 | $38,839 | 13.7 years |
How to Save on Solar Panels
The solar panel company you opt for 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 take into account, such as:
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for sustainable energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a good reputation and is qualified to install your solar system. Another way you can research your installer’s reputation is by reading reviews.
- Installation Process: Make sure you’re on the same page with the installer in regard to how the installation process will go and what needs to be done before your solar system is installed, such as updating your electrical system or roof.
- Warranty: Warranties that cover defective panels and repairs over around 25 years are the best you can get in the business, and offering that kind of warranty is one sign of a quality company.
- Contract: It’s important to read through your solar installer’s contract fully to understand what services they will provide, what the warranty covers and what you can expect about the cost.
EcoWatch's Foster, IL Solar Cost FAQs
How much does it cost to install solar panels in Foster?
This is a difficult question to answer exactly, because the cost depends on a variety of 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 additional solar equipment or more efficient panels, or if you have higher-than-average energy usage. On the other hand, you can spend less if you go with a smaller solar panel system or cheaper solar panels.
Is cost the most important consideration when buying solar panels?
Cost is certainly one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Does Foster have a net metering program?
The majority of states have net metering programs of some kind. Through these, you can receive compensation for the extra power your system produces or or receive credits to put toward future energy bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.
How long do solar panels last in Foster?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can replace them after having them for that long or you can continue to use them at a lower efficiency.
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.