Solar Panel Cost Guide in Glencoe, IL (Mar 2023)

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

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated March 14, 2023

Why you can trust EcoWatch

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 Glencoe

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

Although the national average of solar panels is $2.66 per watt, solar panels in Glencoe typically cost about 2.73. To account for the typical energy usage of the average home in Glencoe, most homeowners require a 6.4-kilowatt system. Using the figure above, a solar installation costs about $12,211, or $17,462 before the federal solar tax credit of 30% is applied.

Keep in mind that the numbers above are only averages. The price you'll end up paying for solar will differ based on your household energy use, the type of equipment you choose, your solar contractor and more. Despite the significant upfront cost, the average Glencoe homeowner can save around $15,000 on their power 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 your area for a custom quote.

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

Do-it-yourself solar panel installation is a possibility, but it's an undertaking that can be a pain. Hiring a solar company can make your swap to solar power much easier. Companies can also offer access to quality options of the best solar panels and help you decide which one will be right for your home.

Working with a licensed solar installer can make going solar easier. Here are our recommendations:

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 typically 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 discuss each of these briefly below.

Solar Equipment

When it comes to estimating the price of a solar panel system in Glencoe, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are chiefly based on your home's energy consumption, which you can determine by looking at past power bills. Your overall cost can increase by around $2,730 for each additional kilowatt you need. There are several different solar panel brands and the one you choose also changes the cost. Generally, the brands that have better efficiency tend to also cost more. In addition, the type of equipment you want to install can affect your total cost. If you just need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.

Solar Financing Terms

For some homeowners, paying for a solar system out of pocket can be financially overwhelming. Solar loans are available from most installers in Glencoe, which can bring down, or in some cases completely eliminate, your upfront costs to make solar more affordable. When trying to figure out your overall cost, you should also calculate the interest you'll pay if you choose to go with a solar loan. Also, paying a higher down payment can reduce the total interest paid over time.

Solar Panel Installation Company

A final factor to keep in mind when trying to evaluate the cost of solar for your home or business in Glencoe is the company you get to install your solar system. As with 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 at different price points. The size of the company can sometimes play the most considerable role in the installation costs. Larger national companies, like SunPro and Sunrun, often have lower prices because they have more 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 discount can bring their pricing down to compete with bigger names.

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

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 select the right company for you, here are some tips to keep in mind:

  • Solar Panel Brands: Not all solar installers offer the same brands of solar panels, so the brand and type of panel you want can play a big role in the company you opt for.
  • Reputation: Solar installers that have great reviews from their customers and that have been operating for many years in most cases provide good-quality solar panel installation and expertise.
  • Contract: It's important to read your solar installer's contract fully to understand what services they will provide, what the warranty covers and what expectations you should have about the project timeline.
  • Installation Process: Homeowners should understand how exactly the installation process will be carried out, as well as important factors like the project timeline.

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

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

This is a hard question to answer exactly, because the cost depends on a few different factors. Broadly 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 be more expensive if you want other solar equipment or more efficient panels, or if you have higher-than-average energy needs. On the flip side, you can spend less if you choose a smaller solar panel system or less efficient solar panels.

Is it better to lease or buy solar panels in Glencoe?

Leasing solar panels can be an attractive choice, because it usually comes with low or $0 upfront payments. The downside 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 incentives and your home value won't increase. Buying solar panels is a better way to go if you want to maximize your savings.

Can solar panels completely eradicate my energy bills?

Solar panels can potentially eliminate your electricity bills depending on where you're located and how much sunlight your home gets. 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.

How often do you have to replace solar panels?

On average, the lifespan of solar panels is 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 amount 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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