Solar Panel Cost Guide in Foster, IL (2023 Update)
- Foster Solar Installation Cost: $11,695
- 25-Year Savings: $14,675
- Payback Period: 11.1 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Foster
We break down average solar pricing in Foster.
While the national average of solar panels is $2.66 per watt, solar panels in Foster typically cost around 2.73. Using this figure, a typical 6.1-kW system would cost about $11,695 before the 30% federal solar tax credit is applied.
The prices above are just estimates to give you an idea of how much solar panels could cost. The true cost of installing solar panels can vary based on several factors, such as what size system you need, your energy usage and what solar installer you go with. Despite the large initial cost, the average Foster homeowner can save about $16,000 on their energy bills over 20 years, which is one of the perks of solar.
You can click the button below to get connected with a pre-vetted solar company in Foster that can help you get a more accurate cost estimate for your home.
Solar savings over time in Foster
| Year | Return on Investment |
|---|---|
| 1 years | $-10,640 |
| 3 years | $-8,531 |
| 5 years | $-6,421 |
| 7 years | $-4,312 |
| 9 years | $-2,202 |
| 11 years | $-92 |
| 13 years | $2,017 |
| 15 years | $4,127 |
| 17 years | $6,237 |
| 19 years | $8,346 |
| 21 years | $10,456 |
| 23 years | $12,566 |
| 25 years | $14,675 |
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:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
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.
Solar Equipment
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.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
EcoWatch's Foster, IL Solar Cost FAQs
How much does it cost to install solar panels in Foster?
This is a tough question to answer precisely, because the cost depends on a few different factors. Generally speaking, it costs about $13,650 for a 5-kW system and $27,300 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 usage. Conversely, you can spend less if you want a smaller solar panel system or less expensive solar panels.
Is cost the most important thing to keep in mind when buying solar panels?
The initial cost is a key factor to consider, but whether it's the most important for you depends on your reasons for going solar. In places where rooftop space is limited, efficiency can trump the cost. Other factors that are important to consider are the quality and durability of your solar panels.
Is going solar worth it?
Whether or not solar panels are worth it depends on a variety of factors like how much you pay for electricity and how much direct sunlight your roof gets.
How often do you have to replace solar panels?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can opt to replace them once you've had them for that long or you can keep using 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.
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.