Solar Panel Cost Guide in Germantown Hills, IL (2023 Update)
- Germantown Hills Solar Installation Cost: $12,162
- 25-Year Savings: $7,668
- Payback Period: 15.3 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Germantown Hills
Find out what the average cost of solar panel installation is in Germantown Hills.
The national average cost of solar panels is $2.66 per watt, but in Germantown Hills it's 2.73 per watt. The average Germantown Hills homeowner needs a 6.4-kilowatt system, which would cost about $12,154 with the federal tax credit, or $17,380 before the 30% tax credit is applied.
The actual price you pay can be higher or lower than the average in Germantown Hills depending on a few factors, such as the brand of solar panels you choose and the solar installer you hire. But, once you've paid the upfront cost of installation, the return on investment for most homeowners is quite fruitful, with a net average savings of about $12,000 over 20 years on utility bills.
You can click the button below to get connected with a vetted solar company in Germantown Hills for a quote for your home.
Solar savings over time in Germantown Hills
| Year | Return on Investment |
|---|---|
| 1 years | $-12,096 |
| 3 years | $-11,964 |
| 5 years | $-11,832 |
| 7 years | $-11,700 |
| 9 years | $-11,567 |
| 11 years | $-11,435 |
| 13 years | $-11,303 |
| 15 years | $-11,171 |
| 17 years | $-11,039 |
| 19 years | $-10,906 |
| 21 years | $-10,774 |
| 23 years | $-10,642 |
| 25 years | $-10,510 |
Top Solar Installers in Germantown Hills
DIY solar panel installation is a way to cut costs, but it's an undertaking that can use up a lot of your time and energy. Using a solar company can make converting to solar power much easier. Solar installers provide key benefits that can help you maximize your investment, like warranties, monitoring and free repairs.
Working with a professional solar installer can help you make the most of your investment in solar. Here are our recommendations:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
See all of the solar companies in Germantown Hills
Factors that Affect Solar Panel Costs in Germantown Hills
There are many criteria that can determine your total installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that performs the installation.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of installing solar panels. That's why it's a priority to accurately ascertain the size of the solar energy system needed for your home by figuring out your typical energy use. The type of solar equipment you choose can bring your price up or down 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. However, more efficient panels could save you more over time on your power bills. In addition, add-on products, such as solar batteries, can bring your total well above the Germantown Hills average.
Solar Financing Terms
If paying for solar panels out of pocket is difficult, solar loans are an affordable option because they cut back your upfront costs and let you pay for your system over five to seven years on average. You'll have to consider the long-term cost of loans, including the amount of interest you'll pay over the length of the loan. If you're only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or finding a solar loan with a low interest rate could reduce your costs significantly.
Solar Panel Installation Company
A final consideration when trying to estimate the cost of solar for your home or business in Germantown Hills is the company you get to install your PV system. Similar to choosing a company to build a deck or pool, for instance, you'll have no shortage of solar installers that offer a range of services for different budgets. The company's size can sometimes play the most significant role in the cost of installation. Larger national companies, like SunPro and Sunrun, often have lower pricing because of greater resources and bulk pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or promotion can bring their pricing down to compete with bigger companies.
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 | $6,770 | 15.9 years |
| 8 kW | $2.78 | $15,594 | $9,333 | 15.6 years |
| 10 kW | $2.73 | $19,110 | $12,048 | 15.3 years |
| 12 kW | $2.68 | $22,473 | $14,916 | 15.0 years |
| 14 kW | $2.62 | $25,684 | $17,937 | 14.7 years |
| 16 kW | $2.57 | $28,741 | $21,111 | 14.4 years |
| 18 kW | $2.51 | $31,646 | $24,438 | 14.1 years |
| 20 kW | $2.46 | $34,398 | $27,918 | 13.8 years |
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because picking a company can be difficult, we have some tips to help you, such as:
- Installation Process: Homeowners should understand how exactly the installation process will go, as well as important factors like the completion timeline.
- Contract: Look through the contract terms thoroughly to make sure you understand the cost breakdown, project completion timeline rebates and warranties.
- Solar Panel Brands: The brand of solar panel you'd like plays a part in which company you should go with, since different companies have access to different panels.
- Warranty: A high-quality company stands out from other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Germantown Hills, IL Solar Cost FAQs
What is the average cost of installing solar panels in Germantown Hills?
The average cost of solar panels in Germantown Hills is about $13,650 for a 5-kW system and $27,300 for a 10-kW system before the ITC, but the actual cost will depend on things like the kind of solar panels you want, what size system you need and how much energy you consume.
Are solar panels free in Germantown Hills?
You can't get solar panels for free in Germantown Hills. However, you may still be able to get them on a lower budget. You can lease solar panels for a low upfront cost or, if you'd rather own your solar panels, you can finance them with a solar loan.
Is switching to solar power worth it?
Whether or not solar panels are worth it depends on some different factors like how much you pay for electricity and the amount of direct sunlight your roof gets.
How many solar panels should I get to power my home?
To figure out how many solar panels you need, you should find out how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can typically produce about 250 to 400 watt-hours per hour, the average household will need 20 to 35 panels.
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.