Solar Panel Cost Guide in Glencoe, IL (Nov 2022)

  • Glencoe Solar Installation Cost: $12,211
  • 25-Year Savings: $12,393
  • Payback Period: 12.4 Years

See cost of a solar system near you:

EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 11/09/2022

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Average Cost of Solar Panels in Glencoe

Here's how much it might cost to make the switch to solar in Glencoe.

Currently, the national average cost of solar panels is $2.66 per watt. However, in Glencoe, the average cost of a solar system is $3 per watt. To account for the typical energy usage of the average home in Glencoe, most homeowners require a 6.4-kilowatt system. Using the per-watt figure above, a solar installation costs around $12,211, or $9,036 after the federal solar tax credit of 30% is applied.

The true cost of your system can be above or below the average in Glencoe depending on a few factors, such as the brand of solar panels you choose and the solar contractor you hire. For many homeowners, the upfront investment in solar is worth paying. On average you could be looking at about $15,000 in savings on utility bills over 20 years.

To get a free estimate from a pre-vetted solar installation company in Glencoe, you can click the button below.

Solar savings over time in Glencoe

Year Return on Investment
1 years $-11,227
3 years $-9,259
5 years $-7,290
7 years $-5,322
9 years $-3,354
11 years $-1,385
13 years $583
15 years $2,551
17 years $4,520
19 years $6,488
21 years $8,456
23 years $10,425
25 years $12,393

Top Solar Installers in Glencoe

Many homeowners decide to use a solar panel installer since trying to install solar panels yourself can be challenging. Companies can also offer access to quality options of the best solar panels and help you pick which one will be right for you.

If you'd like to go solar but still aren't sure which solar panel company to go with, here are our recommendations for providers near you:

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 (coming 2022)

Best Technology

Tesla Energy

★★★★★
4.5

  • Price-match guarantee
  • Sleek, efficient, and durable solar panels
  • Best solar battery on the market
  • Some reported issues with customer service
  • Customer service varies by local dealer

See all of the solar companies in Glencoe

Factors that Affect Solar Panel Costs in Glencoe

Cost is usually one of the most important factors for homeowners wanting to invest in solar. There are a few major factors that will push your cost above or below the average in Glencoe: solar equipment and system size, financing options and the solar installation company you choose. We'll go over each of these briefly below.

Solar Equipment

One of the most significant factors to consider when it comes to the cost of adopting solar energy 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 $2,730 per kilowatt in Glencoe. The kind 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. On the other hand, higher efficiency could save you more over time on your energy bills. Additionally, extra products, like solar batteries, can bring your total well above the Glencoe average.

Solar Financing Terms

Many homeowners find the average cost of solar in Glencoe to be too expensive, even if the investment pays off over time. Fortunately, nearly every solar installer in the area provides financing options. Solar loans remarkably decrease upfront costs for most homeowners, but they also result in paying more over time because of interest. When estimating your overall cost, you should also calculate the interest you'll pay if you opt for a solar loan. Also, paying a higher down payment can reduce the total interest paid over time.

Solar Panel Installation Company

Lastly, the company you hire to install your solar panel system can affect the cost. Glencoe's solar companies all have different labor costs and add varying upcharges to equipment. The size of the company sometimes plays the most significant role in your costs. Larger national companies, like SunPro and Sunrun, often have lower prices due to access to more resources and better pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or promotion can bring their pricing lower 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 $11,178 12.9 years
8 kW $2.78 $15,594 $15,210 12.7 years
10 kW $2.73 $19,110 $19,394 12.4 years
12 kW $2.68 $22,473 $23,732 12.2 years
14 kW $2.62 $25,684 $28,222 11.9 years
16 kW $2.57 $28,741 $32,865 11.7 years
18 kW $2.51 $31,646 $37,662 11.4 years
20 kW $2.46 $34,398 $42,611 11.2 years

How to Save on Solar Panels

The solar panel company you choose will affect not only your overall costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are a few important things you should consider, including:

  • Solar Panel Brands: Each solar panel brand and kind has varying levels of quality, durability and efficiency. They will come at different prices as well. The company you choose impacts which solar panel brands you have access to.
  • 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 good reputation and is qualified to install your solar system. Another way you can check your installer's reputation is by reading reviews.
  • Contract: Read the contract terms closely to make sure you understand the cost breakdown, project timeline incentives and warranties.
  • Installation Process: Get detailed information from your solar company about the installation process and what to expect, including when the site survey will be done and how long it will take.

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 (coming 2022)

Best Technology

Tesla Energy

★★★★★
4.5

  • Price-match guarantee
  • Sleek, efficient, and durable solar panels
  • Best solar battery on the market
  • Some reported issues with customer service
  • Customer service varies by local dealer

EcoWatch's Glencoe, IL Solar Cost FAQs

How much does it cost to install solar panels in Glencoe?

The average cost of solar panels in Glencoe 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 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 Glencoe?

Leasing solar panels can be an option if you are unable to pay upfront or get a solar loan, but since you don't own the system, you don't have access to many solar incentives. Also your property 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.

How much can I save on power bills after switching to solar?

Solar panels can potentially eliminate your electricity bills depending on where you're located and the efficiency of your system. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $770.09 per year.

What solar power system size is right for my home?

To figure out how many solar panels you need, you should find out how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can generally 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.

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