Solar Panel Cost Guide in Foster, IL (Jan 2023)
- Foster Solar Installation Cost: $11,695
- 25-Year Savings: $14,675
- Payback Period: 11.1 Years
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Top Solar Installers in Foster
Although you can install solar panels yourself, it requires extra effort and know-how. Because of that, the majority of homeowners choose to hire a solar panel installer. A solar installer can also help save you money over time by offering warranties, repairs and component replacements.
There are various licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
See all of the solar companies in Foster
Factors that Affect Solar Panel Costs in Foster
The cost of installing a solar system in Foster can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The biggest one is your system size, and other factors include the equipment you choose, financing options and the solar installer you choose.
The size of the solar energy system you need, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, your total will most likely increase by around $2,730. 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. On the other hand, higher efficiency could save you more over time on your power bills. In addition, add-on products, like solar batteries, can bump up your total well above the Foster average.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be challenging. Solar loans are provided by most installers in Foster, which can reduce, or in some cases totally eliminate, your upfront costs to make solar more accessible. Though solar loans make switching to solar energy more accessible for Foster homeowners, they can also raise the total you pay for your system, depending on your interest rate. If you make a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
The solar company you go with to handle your switch to green energy can play a part in your total costs. There are about 3 solar installation companies operating throughout Foster, and each can charge varying amounts for labor and equipment. Companies that only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally cost more. It's best to do some research and go with the company that offers the products, warranties and services you want and also is within your budget.
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||$13,940||11.5 years|
|8 kW||$2.78||$15,594||$18,892||11.3 years|
|10 kW||$2.73||$19,110||$23,997||11.1 years|
|12 kW||$2.68||$22,473||$29,256||10.9 years|
|14 kW||$2.62||$25,684||$34,667||10.6 years|
|16 kW||$2.57||$28,741||$40,230||10.4 years|
|18 kW||$2.51||$31,646||$45,947||10.2 years|
|20 kW||$2.46||$34,398||$51,817||10.0 years|
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you decide on the right company for you, here are some tips to keep in mind:
- Reputation: Make sure your solar installer has a good reputation by verifying it has certifications and licenses, checking its work history and reading reviews by previous customers and solar experts like the EcoWatch team.
- Contract: Review the contract terms closely to make sure you understand the cost breakdown, project completion timeline rebates and warranties.
- Warranty: Warranties that cover panel repairs and maintenance over a long period of time such as 25 years are the best you can get in the business, and offering such a warranty is one indication of a quality company.
- Solar Panel Brands: The brand of solar panel you'd like to install plays a role in which company you should go with, since different companies have different panels.
EcoWatch's Foster, IL Solar Cost FAQs
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.