Solar Panel Cost Guide in Gilberts, IL (2024 Update)
- Gilberts Solar Installation Cost: $17,188
- 25-Year Savings: $10,132
- Payback Period: 19.0 Years
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Average Cost of Solar Panels in Gilberts
Find out what the average cost of installing solar panels is in Gilberts.
In Gilberts, solar panels cost about 4 per watt on average.The average solar panel system size in Gilberts is around 6.5 kilowatts, meaning a cost of about $17,188 for a solar installation, or $24,579 before the 0 federal solar tax credit is applied.
The true price you pay can be above or below the average in Gilberts depending on several factors, such as the model of solar panels you choose and the solar installer you hire.With average savings of about $13,000 on power bills over 20 years, many homeowners in Gilberts find installing solar panels has a decent ROI.
To calculate your potential savings and connect with a local solar installer, click the button below.
Solar savings over time in Gilberts
| 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 Gilberts
Do-it-yourself 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. Using a solar company can make switching to solar power much easier. The expertise that solar installers provide can be valuable as well, particularly if you aren’t sure what brand of solar equipment you need.
If you’d like to start using solar energy but still aren’t sure which solar panel company to go with, here are our recommendations for providers nearby:
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 Gilberts
Factors that Affect Solar Panel Costs in Gilberts
While the average cost of a solar system in Gilberts is $17,188, your actual cost may be above or below the average. There are many factors that can have a major impact on the cost of a solar system installation. Below are some of the more crucial things to keep in mind.
Solar Equipment
When it comes to estimating the cost of a solar energy system in Gilberts, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are primarily based on your home’s energy consumption, which you can gauge by looking at past power bills. Your overall cost can increase by around $3,760 for each additional kilowatt you need.Some solar brands — like Maxeon from SunPower — are more costly upfront but also tend to offer better efficiency. In a city like Gilberts, where sunlight is relatively abundant, efficiency can quickly pay off. In addition, if you have a small roof or limited space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Solar panels can save you money on power bills over time, but they can also be a significant investment. That’s why many Gilberts homeowners decide to finance their solar panel systems to offset upfront costs.You’ll have to consider the long-term cost of loans, including the total 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 more than the principal cost. Making a larger down payment or getting a solar loan with a low interest rate could reduce your costs significantly.
Solar Panel Installation Company
The remaining significant cost factor you should take into consideration is the installer you choose. Given the booming popularity of renewable energy solutions in Gilberts, you’ll have many options to choose from, but each comes at varying price points for labor and equipment.Larger national companies generally have lower costs, but some local companies keep up with them by offering sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or additional services like electric vehicle charger installation, they might be cheaper overall.
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 | $4,352 | 19.8 years |
| 8 kW | $3.84 | $21,477 | $6,223 | 19.4 years |
| 10 kW | $3.76 | $26,320 | $8,306 | 19.0 years |
| 12 kW | $3.68 | $30,952 | $10,599 | 18.6 years |
| 14 kW | $3.61 | $35,374 | $13,102 | 18.2 years |
| 16 kW | $3.53 | $39,585 | $15,816 | 17.9 years |
| 18 kW | $3.46 | $43,586 | $18,740 | 17.5 years |
| 20 kW | $3.38 | $47,376 | $21,875 | 17.1 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you pick the right company for you, here are some tips to keep in mind:
- Contract: Before you sign a contract with a solar installer, make sure you look it over carefully so you understand the terms. Also, ask questions if you aren’t sure about some of the terms, such as what the warranty covers and what services you can expect from them.
- Warranty: If you care about the longevity of your solar panels, ensuring your installer offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a solid reputation and is qualified to install your solar system. Another way you can check your installer’s reputation is by reading reviews.
- Solar Panel Brands: The type of solar panel you need plays a part in which company you should go with, since different companies offer different panels.
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 Gilberts, IL Solar Cost FAQs
What is the average cost of installing solar panels in Gilberts?
This is a difficult question to answer precisely, because the cost depends on a few different factors. Broadly speaking, it costs about $18,800 for a 5-kW system and $37,600 for a 10-kW system after the ITC is applied. It will cost more if you want other solar equipment or higher quality panels, or if you have above-average energy usage. On the other hand, you can spend less if you go with a smaller solar panel system or cheaper solar panels.
Should I lease or buy solar panels in Gilberts?
Leasing solar panels can be an attractive choice, because it commonly comes with low or $0 upfront payments. The drawback is that you won’t be able to save as much. If you lease, you don’t own the system, so you can’t claim any tax rebates and credits and your home value won’t increase. Buying solar panels is a better option if you want to maximize your savings.
Is it worth going solar in Gilberts?
Whether or not solar panels are worth it depends on a variety of factors like local electricity rates and how much direct sunlight your roof gets.
How many solar panels do I need to power my home?
The exact number of solar panels you need depends on your household energy consumption and the amount of 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 install between 20 and 35 panels to account for 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.