Solar Panel Cost Guide in Genoa, IL (2023 Update)

  • Genoa Solar Installation Cost: $12,402
  • 25-Year Savings: $10,209
  • Payback Period: 13.7 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated May 04, 2023

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We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Genoa

Find out how much it might cost to install solar panels in Genoa.

In Genoa, solar panels cost about 2.73 per watt on average. The average solar panel system size in Genoa is around 6.5 kilowatts, meaning a cost of about $12,402 for a solar installation, or $17,735 before the 30% federal solar tax credit is applied.

Keep in mind that the figures above are only estimates based on the average Genoa homeowner. The cost of a solar system for your home may be different depending on factors unique to your situation, like your household energy use and solar contractor. Even with the large upfront cost, the average Genoa homeowner can save around $13,000 on their electricity bills over 20 years, which is one of the positives of solar.

Click the button below to get connected to a top solar installer in Genoa for a custom estimate.

Solar savings over time in Genoa

Year Return on Investment
1 years $-11,498
3 years $-9,689
5 years $-7,880
7 years $-6,071
9 years $-4,262
11 years $-2,453
13 years $-644
15 years $1,165
17 years $2,974
19 years $4,783
21 years $6,591
23 years $8,400
25 years $10,209

Top Solar Installers in Genoa

When going solar, many homeowners prefer to hire a solar installer since handling can be a challenging project. Also, companies with a high reputation that are more expensive upfront could actually save you money in the long run with their warranties, repair services and expert design.

If you're on the hunt for a solar installer in Genoa, the EcoWatch team has put together a list of our top suggestions here:

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Solar Financing

Blue Raven Solar

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries

Best Warranty Coverage

Sunpro Solar

★★★★★
4.0

  • Industry-leading warranty coverage
  • Expansive service area
  • Some reported communication issues
  • No leases or PPAs

See all of the solar companies in Genoa

Factors that Affect Solar Panel Costs in Genoa

Cost is usually one of the most important factors for homeowners wanting to invest in solar. There are a few key factors that affect your total cost in Genoa: solar equipment and system size, financing options and the solar installation company you choose. We'll cover each of these briefly below.

Solar Equipment

When it comes to estimating the price of a solar energy system in Genoa, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home's energy consumption, which you can determine by looking at past power bills. Your total cost can increase by about $2,730 for each additional kilowatt you need. The type of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you opt for the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. However, higher efficiency could save you more in the long run on your energy bills. In addition, add-on products, like solar batteries, can bump up your total well above the Genoa average.

Solar Financing Terms

Solar panels can save you money on utility bills over time, but they can also be a big investment. That's why many Genoa homeowners choose to finance their solar panel systems to make paying for solar more affordable. However, the interest on solar loans also adds to your all-in costs, so it's crucial to keep that in mind as well. You can always lower the total you pay in interest and possibly even your APR by making a larger down payment.

Solar Panel Installation Company

The final significant cost factor you should keep in mind is the installer you choose. Given the booming popularity of renewable energy solutions in Genoa, you'll have many options to choose from, but each comes at varying price points for labor and equipment. Companies that 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 at a higher cost. It's best to do some research and find a company that has the products, warranties and services you want and also fits 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 $8,967 14.3 years
8 kW $2.78 $15,594 $12,262 14.0 years
10 kW $2.73 $19,110 $15,709 13.7 years
12 kW $2.68 $22,473 $19,310 13.4 years
14 kW $2.62 $25,684 $23,063 13.2 years
16 kW $2.57 $28,741 $26,969 12.9 years
18 kW $2.51 $31,646 $31,028 12.6 years
20 kW $2.46 $34,398 $35,240 12.3 years

How to Save on Solar Panels

The solar company you go with will impact not only your overall costs, but also the types of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are a few important things you should take into account, such as:

  • Warranty: Warranties that provide coverage for panel repairs and maintenance over a couple decades are the best you can get in the business, and offering that kind of warranty is one indication of a good company.
  • Installation Process: Make sure you're on the same page with the company with regard to how the installation process will go and what you need to do before your solar panels are installed, such as updating or replacing your electrical system or roof.
  • Contract: It's important to read your solar installer's contract closely to understand what services they will provide, what the warranty covers and what expectations you should have about the cost.
  • Solar Panel Brands: Not all solar companies carry the same brands of solar panels, so the brand and type of panel you want can play a substantial role in the company you go with.

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Solar Financing

Blue Raven Solar

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries

Best Warranty Coverage

Sunpro Solar

★★★★★
4.0

  • Industry-leading warranty coverage
  • Expansive service area
  • Some reported communication issues
  • No leases or PPAs

EcoWatch's Genoa, IL Solar Cost FAQs

What is the average cost of installing solar panels in Genoa?

This is a hard question to answer exactly, because the cost depends on many 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 consumption. On the other hand, you can spend less if you want a smaller solar panel system or less efficient solar panels.

Is cost the most important thing to consider when buying solar panels?

The initial cost is a very important factor to consider, but whether it's the most important for you depends on your goals for going solar. In areas 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 it worth going solar in Genoa?

Whether or not solar panels are worth it depends on some different factors like the cost of electricity near you and the amount of direct sunlight your roof gets.

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 goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger 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.

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.

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