Solar Panel Cost Guide in Glenwood, IL (2024 Update)
- Glenwood Solar Installation Cost: $16,818
- 25-Year Savings: $10,400
- Payback Period: 18.6 Years
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Average Cost of Solar Panels in Glenwood
Find out what the average cost of a solar system is in Glenwood.
The national average cost of solar panels is $2.66 per watt, but in Glenwood it’s 4 per watt.The average Glenwood homeowner needs a 6.4-kilowatt system, which would cost about $16,818 with the federal tax credit, or $24,050 before the 0 tax credit is applied.
How much you pay can go above or below the average in Glenwood depending on a few factors, such as the brand of solar panels you choose and the solar company you hire.With average savings of about $13,000 on electricity bills over 20 years, many homeowners in Glenwood find investing in solar can pay off big.
Click the button below to get connected to a highly rated solar panel company in your area for a customized estimate.
Solar savings over time in Glenwood
| Year | Return on Investment |
|---|---|
| 1 years | $-15,662 |
| 3 years | $-13,350 |
| 5 years | $-11,038 |
| 7 years | $-8,725 |
| 9 years | $-6,413 |
| 11 years | $-4,100 |
| 13 years | $-1,788 |
| 15 years | $524 |
| 17 years | $2,837 |
| 19 years | $5,149 |
| 21 years | $7,461 |
| 23 years | $9,774 |
| 25 years | $12,086 |
Top Solar Installers in Glenwood
Do-it-yourself 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. Taking advantage of a solar company can make switching to solar power much easier. Solar warranties and repairs are often included in the cost of installation when you go with a solar contractor as well, which can save you more money over time.
You can work with a local solar installer to get a free estimate on the cost of solar panels for your home. Here are some 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
Best Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
See all of the solar companies in Glenwood
Factors that Affect Solar Panel Costs in Glenwood
For many Glenwood homeowners, the decision to install a solar energy system depends on cost. However, the range of solar installation costs can be quite wide in Glenwood, with typical prices between $20,000 to $40,000. There are various factors that greatly influence the price you’ll pay, which we'll go over below.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of going solar. For that reason, it’s a priority to accurately gauge the size of the solar energy system needed for your home by figuring out your typical energy use.The kind of solar panels and equipment you get is another factor that will substantially impact costs. Solar panels that are more efficient, like monocrystalline panels, tend to come at a higher price. Plus, solar equipment consists of more than just the solar panels themselves. You’ll also need to make decisions about the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when looking into a solar system that’s in your budget.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be difficult. Solar loans are available from most installers in Glenwood, which can reduce, or in some cases completely eliminate, your upfront costs to make solar more accessible.Even though solar loans make adopting solar energy more accessible for Glenwood homeowners, they can also raise the total you pay for your system, depending on your interest rate. If you put down a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
A final factor to keep in mind when trying to figure out the cost of solar for your home or business in Glenwood is the company you choose to install your solar system. As with choosing a company to renovate your kitchen, for example, there are plenty of solar installers that offer a range of services for different budgets.Additionally, some companies in Glenwood know more about local solar incentives and can help you make good use of additional rebates or tax exemptions. However, they may charge more for that service. Even if they cost more upfront, they could end up saving you more money in the long run.
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 | $4,808 | 19.3 years |
| 8 kW | $3.84 | $21,477 | $6,832 | 19.0 years |
| 10 kW | $3.76 | $26,320 | $9,066 | 18.6 years |
| 12 kW | $3.68 | $30,952 | $11,511 | 18.2 years |
| 14 kW | $3.61 | $35,374 | $14,166 | 17.9 years |
| 16 kW | $3.53 | $39,585 | $17,032 | 17.5 years |
| 18 kW | $3.46 | $43,586 | $20,109 | 17.1 years |
| 20 kW | $3.38 | $47,376 | $23,396 | 16.7 years |
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Because picking a company can be a tough decision, we have some tips to help you, such as:
- Warranty: If you care about the durability of your solar energy system, ensuring your company offers a 25-year, all-inclusive warranty can help put you at ease.
- Solar Panel Brands: Each solar panel brand and type has varying levels of quality, durability and efficiency. They will come at different prices as well. The company you choose has an impact on which solar panel brands you have access to.
- Reputation: Make sure your solar system installer has a good reputation by confirming it has certifications and licenses, checking how long it's been in business and reading reviews by previous customers and solar experts like the EcoWatch team.
- Contract: Before signing a contract with a solar company, be sure to read it through completely so you understand the terms. Also, ask questions if you’re unsure about some of the terms, such as what the warranty covers and what services you can expect from them.
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
Best Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
EcoWatch's Glenwood, IL Solar Cost FAQs
What is the average cost of installing solar panels in Glenwood?
This is a hard question to answer exactly, because the cost depends on a variety of 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 additional solar equipment or more efficient panels, or if you have above-average energy consumption. On the flip side, you can spend less if you go with a smaller solar panel system or less efficient solar panels.
Should I lease or buy solar panels in Glenwood?
Leasing solar panels can be an option if you can’t pay upfront or secure a solar loan, but since you don’t own the system, you can’t take advantage of 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.
Is going solar worth it?
Whether or not solar panels are worth it depends on a variety of factors like how much you pay for electricity and the amount of direct sunlight your roof gets.
What solar power system size is right for 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 get 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.