Solar Panel Cost Guide in Genoa, IL (2025 Update)
- Genoa Solar Installation Cost: $17,092
- 25-Year Savings: $10,202
- Payback Period: 18.9 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Why you can trust EcoWatch
Average Cost of Solar Panels in Genoa
Let’s take a look at the average cost of solar panels in Genoa.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Genoa, the average cost of solar panels is 4 per watt.Because a 6.5-kW system is needed to cover the energy costs of a typical home in Genoa, the average price of going solar will be about $17,092 after claiming the federal solar tax credit of 0.
Keep in mind that the numbers above are only averages. The price you’ll end up paying for solar may look quite different based on your household energy needs, the type of solar system you choose, your solar contractor and more.But, after you've paid the initial cost of installation, the payback for most homeowners is typically good, with a net average savings of about $13,000 over 20 years on electricity bills.
Click the button below to get connected to a vetted solar installer in Genoa for a custom estimate.
Solar savings over time in Genoa
| Year | Return on Investment |
|---|---|
| 1 years | $-15,936 |
| 3 years | $-13,624 |
| 5 years | $-11,311 |
| 7 years | $-8,999 |
| 9 years | $-6,687 |
| 11 years | $-4,374 |
| 13 years | $-2,062 |
| 15 years | $251 |
| 17 years | $2,563 |
| 19 years | $4,875 |
| 21 years | $7,188 |
| 23 years | $9,500 |
| 25 years | $11,812 |
Top Solar Installers in Genoa
When going solar, many homeowners decide to go with a solar installer since putting up solar panels yourself can be a difficult project. Because solar panels are exposed to temperature swings and extreme weather, warranties and repairs from your solar company can help you get the most out of your investment in solar panels by reducing potential costs down the line.
Working with a licensed solar installer can make going solar easier. Here are our recommendations:
See all of the solar companies in Genoa
Factors that Affect Solar Panel Costs in Genoa
There are many criteria that can determine your solar panel installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar system.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more power your household uses, the larger your system will likely need to be. You can expect to spend about $3,760 per kilowatt in Genoa.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 over time on your energy bills. Additionally, extra products, such as solar batteries, can bring your total well above the Genoa average.
Solar Financing Terms
If paying for a solar system in cash is too expensive, solar loans are a solid route because they reduce 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 total costs, so it’s crucial to keep that in mind as well. You can always reduce the total you pay in interest and possibly even your APR by putting more money down.
Solar Panel Installation Company
The solar panel installation company you select will affect your total cost to make the switch to solar energy. Different companies will bill different amounts for the equipment and labor.Additionally, some companies in Genoa have more knowledge about local solar incentives and can help you take advantage of additional rebates or tax exemptions. However, they may charge more for walking you through the whole process. 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 | $4,468 | 19.7 years |
| 8 kW | $3.84 | $21,477 | $6,378 | 19.3 years |
| 10 kW | $3.76 | $26,320 | $8,499 | 18.9 years |
| 12 kW | $3.68 | $30,952 | $10,831 | 18.5 years |
| 14 kW | $3.61 | $35,374 | $13,373 | 18.1 years |
| 16 kW | $3.53 | $39,585 | $16,125 | 17.8 years |
| 18 kW | $3.46 | $43,586 | $19,089 | 17.4 years |
| 20 kW | $3.38 | $47,376 | $22,262 | 17.0 years |
How to Save on Solar Panels
There are numerous companies available in Genoa, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be difficult, so here are some tips to help you decide:
- Solar Panel Brands: Homeowners will have different preferences for panels based on their roof configurations and energy needs. While there are many options for which type of solar panel you can get, not every company will have the exact one you may want or need, so make sure you peruse their list of options before deciding.
- Reputation: Solar system installers that have great reviews from their customers and that have been operating for many years likely provide high-quality solar panel installation and expertise.
- Contract: Review the contract terms thoroughly to make sure you understand the total cost, project completion timeline rebates and warranties.
- Warranty: A quality company stands out from other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
EcoWatch's Genoa, IL Solar Cost FAQs
What is the average cost of installing solar panels in Genoa?
The average cost of solar panels in Genoa 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 such as the type of solar panels you want, what size system you need and how much energy you use.
Is it better to lease or buy solar panels in Genoa?
Leasing solar panels can be an option if you can’t pay upfront or secure a solar loan, but since you don’t own the system, you don’t have access to many solar incentives. Also your home value won’t increase, so you’ll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most bang for your buck from going solar.
Do solar panels increase your property value?
Solar panels can increase the value of your home significantly as long as you buy or finance your panels and don’t go for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% with a solar installation."
How often do you have to replace solar panels?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher level of energy production.
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.