Solar Panel Cost Guide in Geneva, IL (2024 Update)
- Geneva Solar Installation Cost: $17,188
- 25-Year Savings: $15,857
- Payback Period: 15.2 Years
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Average Cost of Solar Panels in Geneva
Here’s how much it might cost to make the switch to solar in Geneva.
The national average cost of solar panels is $2.66 per watt, but in Geneva it’s 4 per watt.Using this figure, a typical 6.5-kW system would cost about $17,188 before the 0 federal solar tax credit is applied.
These figures are only averages, and how much solar costs for you will most likely differ based on your specific situation and what company you go with.For most homeowners, the upfront investment in solar panels is worth paying. On average homeowners in Geneva see about $16,000 in savings on electricity bills over 20 years.
Click the button below to get connected to a top solar installer in Geneva for a customized estimate.
Solar savings over time in Geneva
| Year | Return on Investment |
|---|---|
| 1 years | $-16,032 |
| 3 years | $-13,719 |
| 5 years | $-11,407 |
| 7 years | $-9,094 |
| 9 years | $-6,782 |
| 11 years | $-4,470 |
| 13 years | $-2,157 |
| 15 years | $155 |
| 17 years | $2,467 |
| 19 years | $4,780 |
| 21 years | $7,092 |
| 23 years | $9,404 |
| 25 years | $11,717 |
Top Solar Installers in Geneva
DIY solar panel installation is a choice some homeowners opt for, but it's an undertaking that can use up a lot of your time and energy. Going with an installer can make your swap to solar power much easier. Companies can also have access to quality options of the best solar panels and help you pick which one will be best for you.
If you’d like to switch to solar energy but still aren’t sure which solar installer to go with, here are our suggestions for providers in Geneva:
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
See all of the solar companies in Geneva
Factors that Affect Solar Panel Costs in Geneva
The cost of installing a solar system in Geneva can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The most significant one is the size of the system you need, and other factors include the equipment you choose, financing options and the solar company you choose.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a few different factors. One of the major factors is the system size, which is measured in kilowatts (kW). Solar power systems with better efficiency or power production need better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $3,760.The kind 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. On the other hand, more efficient panels could save you more in the long run on your power bills. Additionally, extra products, such as solar batteries, can bring your total well above the Geneva average.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be challenging. Solar loans are available from most installers in Geneva, which can bring down, or in some cases eliminate, your upfront costs to make solar more affordable.It’s wise to include the interest you’ll pay in your final cost estimate. If you can afford to pay a higher down payment, you can reduce your total costs and the amount of time it’ll take to pay off the loan.
Solar Panel Installation Company
The remaining major cost factor you should keep in mind is the installer you choose. Given the booming popularity of clean energy solutions in Geneva, you’ll have lots of options to choose from, but each comes at varying price points for labor and equipment.Some companies only sell high-quality, high-efficiency and high-price products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come with an above-average cost. It’s best to do some research and go with the company that provides the products, warranties and services you want and also fit into 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 | $3.91 | $16,424 | $9,611 | 15.8 years |
| 8 kW | $3.84 | $21,477 | $13,236 | 15.5 years |
| 10 kW | $3.76 | $26,320 | $17,072 | 15.2 years |
| 12 kW | $3.68 | $30,952 | $21,118 | 14.9 years |
| 14 kW | $3.61 | $35,374 | $25,374 | 14.6 years |
| 16 kW | $3.53 | $39,585 | $29,842 | 14.3 years |
| 18 kW | $3.46 | $43,586 | $34,519 | 14.0 years |
| 20 kW | $3.38 | $47,376 | $39,407 | 13.6 years |
How to Save on Solar Panels
Since the model of solar panels and the installer you choose greatly affects your costs and your system’s efficiency, production, and durability, it’s important to pick the right ones for you. Here are some things to keep in mind to help with your decision:
- Contract: Even though reading through a contract can take a lot of time, it’s important to do it thoroughly so you can make sure you understand what services your solar company will provide and how part repairs and replacements will be handled.
- Warranty: Warranties that cover defective panels and repairs over a long period of time such as 25 years are the best you can get in the business, and offering that kind of warranty is one sign of a good company.
- Installation Process: Make sure you’re aligned with the company regarding how the installation process will go and what needs to be done before your solar panels are installed, such as updating your electrical system or roof.
- Reputation: Your solar installer should have a solid reputation as a company and have verifiable expertise in the field. Two ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from past customers.
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
EcoWatch's Geneva, IL Solar Cost FAQs
What is the average cost of installing solar panels in Geneva?
The average cost of solar panels in Geneva is about $18,800 for a 5-kW system and $37,600 for a 10-kW system before the ITC, but the real cost will depend on stuff such as the model of solar panels you want, what size system you need and how much energy you consume.
What other factors should I consider in addition to cost when buying solar panels?
Cost is certainly one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
Does Geneva 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 electricity bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.
How many solar panels should I get to power my home?
The exact number of solar panels you need depends on your household energy usage and the amount of sunlight your roof gets. You can 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 install 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.