Solar Panel Cost Guide in Frankfort, IL (2024 Update)
- Frankfort Solar Installation Cost: $16,997
- 25-Year Savings: $10,271
- Payback Period: 18.8 Years
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Average Cost of Solar Panels in Frankfort
Find out what the average cost of a solar system is in Frankfort.
In Frankfort, solar panels cost about 4 per watt on average.The average Frankfort homeowner needs a 6.5-kilowatt system, which would cost about $16,997 with the federal tax credit, or $24,306 before the 0 tax credit is applied.
The prices above are just estimates to give you an idea of the cost of a solar energy system. The true cost of making the switch to solar can vary quite a bit based on several factors, such as what size system you need, your energy usage and what solar installer you go with.For most homeowners, the upfront investment in solar power is worth paying. On average you could be looking at about $13,000 in savings on energy bills over 20 years.
To get a free estimate from a highly rated solar installer in Frankfort, you can click the button below.
Solar savings over time in Frankfort
| Year | Return on Investment |
|---|---|
| 1 years | $-15,841 |
| 3 years | $-13,529 |
| 5 years | $-11,216 |
| 7 years | $-8,904 |
| 9 years | $-6,592 |
| 11 years | $-4,279 |
| 13 years | $-1,967 |
| 15 years | $345 |
| 17 years | $2,658 |
| 19 years | $4,970 |
| 21 years | $7,282 |
| 23 years | $9,595 |
| 25 years | $11,907 |
Top Solar Installers in Frankfort
Although you can install solar panels by yourself, it involves extra labor and expertise. That's one of the reasons almost all homeowners choose to go with a solar panel installer. Local solar companies can also help you optimize your return on investment by assisting with any local incentives you can take advantage of and by offering warranties and repairs.
If you’d like to switch to solar energy but still aren’t certain which solar system company to go with, here are our recommendations for providers in Frankfort:
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
Best Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
See all of the solar companies in Frankfort
Factors that Affect Solar Panel Costs in Frankfort
Cost is often one of the most important factors for homeowners considering investing in solar. There are a few major factors that affect your total cost in Frankfort: solar equipment and system size, financing options and the solar installation company you choose. We’ll discuss each of these briefly below.
Solar Equipment
One of the most important factors to consider when it comes to the cost of adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household consumes, the larger your system will likely need to be. You can expect to spend around $3,760 per kilowatt in Frankfort.The brand and type of equipment you want for your solar system can raise or lower the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often have a higher price tag than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have a small roof or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to greater savings over time. Also, if you want additional equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
If paying for solar panels in cash is too expensive, solar loans are a popular route because they lower your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years.However, the interest on solar loans also increases your all-in costs, so it’s vital to take that into consideration as well. You can always bring down the total you pay in interest and in some cases even your APR by making a larger down payment.
Solar Panel Installation Company
Lastly, the company you get to install your solar panel system can play a part in determining how much it costs. Frankfort’s solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Frankfort know more about local solar incentives and can help you learn about 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 | $3.91 | $16,424 | $4,584 | 19.5 years |
| 8 kW | $3.84 | $21,477 | $6,534 | 19.2 years |
| 10 kW | $3.76 | $26,320 | $8,694 | 18.8 years |
| 12 kW | $3.68 | $30,952 | $11,064 | 18.4 years |
| 14 kW | $3.61 | $35,374 | $13,645 | 18.0 years |
| 16 kW | $3.53 | $39,585 | $16,436 | 17.7 years |
| 18 kW | $3.46 | $43,586 | $19,438 | 17.3 years |
| 20 kW | $3.38 | $47,376 | $22,651 | 16.9 years |
How to Save on Solar Panels
The solar panel company you opt for will influence not only your overall costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are some important things you should take into account, including:
- Solar Panel Brands: Each solar panel brand and type has varying levels of quality, longevity and efficiency. They will come at different costs as well. The company you choose has an impact on which solar panel brands you have access to.
- Installation Process: Make sure you’re on the same page with the company in regard to how the installation process will go and what needs to be done before your solar panel system is installed, such as updating or replacing your electrical system or roof.
- Contract: Even though reading through a contract can take a lot of time, it’s important to do it fully so you can make sure you understand what services your solar company will provide and how part repairs and replacements will be handled.
- Reputation: Long-standing companies likely have a high reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide adequate aftercare and customer support, such as part repairs and replacements.
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
Best Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
EcoWatch's Frankfort, IL Solar Cost FAQs
How much does it cost to install solar panels in Frankfort?
The average cost of solar panels in Frankfort is about $18,800 for a 5-kW system and $37,600 for a 10-kW system before the ITC, but the actual cost will depend on certain factors like the kind of solar panels you want, what size system you need and how much energy you consume.
Are solar panels free in Frankfort?
You can’t get solar panels for free in Frankfort. However, you may still be able to install them on a lower budget. You can lease solar panels for a low upfront cost or, if you want to own your solar panels, you can finance them with a solar loan.
How will installing solar panels impact my home value?
Solar panels can increase your property’s value significantly as long as you buy or finance your panels and don’t choose 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 a solar system."
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy consumption and the average daily 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 cover 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.