Solar Panel Cost Guide in Glenwood, IL (2023 Update)
- Glenwood Solar Installation Cost: $12,211
- 25-Year Savings: $10,400
- Payback Period: 13.5 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Glenwood
Find out what the average cost of a solar system is in Glenwood.
Although the national average of solar panels is $2.66 per watt, solar panels in Glenwood generally cost around 2.73. The average Glenwood homeowner needs a 6.4-kilowatt system, which would cost about $12,211 with the federal tax credit, or $17,462 before the 30% tax credit is applied.
The prices above are just estimates to give you an idea of the cost of a solar energy system. The actual cost of installing solar panels can vary based on multiple factors, such as what size system you need, your energy usage and what company you go with. For most homeowners, the upfront investment in solar is worth paying. On average homeowners in Glenwood see about $13,000 in savings on utility bills over 20 years.
You can click the button below to get connected with a pre-vetted solar company in Glenwood for a quote for your home.
Solar savings over time in Glenwood
| Year | Return on Investment |
|---|---|
| 1 years | $-12,136 |
| 3 years | $-11,985 |
| 5 years | $-11,834 |
| 7 years | $-11,684 |
| 9 years | $-11,533 |
| 11 years | $-11,382 |
| 13 years | $-11,231 |
| 15 years | $-11,081 |
| 17 years | $-10,930 |
| 19 years | $-10,779 |
| 21 years | $-10,629 |
| 23 years | $-10,478 |
| 25 years | $-10,327 |
Top Solar Installers in Glenwood
When making the switch to solar, many homeowners opt to go with a solar installation company since installing solar panels yourself can be a difficult project. Plus, if you're not certain what type of solar panels and equipment you want, a solar company can help you find the right equipment for you after a site survey and consultation.
If you'd like to switch to solar energy but still aren't sure which solar installer to go with, here are our suggestions for providers in Glenwood:
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 Glenwood
Factors that Affect Solar Panel Costs in Glenwood
The cost of installing a solar system in Glenwood can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The most significant one is your system size, and other factors include equipment choices, financing options and the solar installer you choose.
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 electricity your household uses, the larger your system will likely need to be. You can expect to pay around $2,730 per kilowatt in Glenwood. Some solar brands — like Maxeon from SunPower — cost more upfront but also tend to offer higher efficiency. In a city like Glenwood, where sunlight is relatively abundant, efficiency can quickly pay off. Also, if you have a small roof or you don't have a lot of 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
For some homeowners, paying for solar panels out of pocket can be a challenge. Solar loans are provided by most installers in Glenwood, which can bring down, or in some cases eliminate, your upfront costs to make solar more accessible. However, the interest on solar loans also increases your total costs, so it's crucial to take that into consideration as well. You can always lower the total you pay in interest and possibly even your APR by making a larger down payment.
Solar Panel Installation Company
The remaining significant cost factor you should consider is the installer you choose. Given the booming popularity of renewable energy solutions in Glenwood, you'll have a great number of options to choose from, but each comes at various price points for labor and 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 pricing because of greater resources and bulk 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 discount 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 | $9,307 | 14.0 years |
| 8 kW | $2.78 | $15,594 | $12,715 | 13.8 years |
| 10 kW | $2.73 | $19,110 | $16,276 | 13.5 years |
| 12 kW | $2.68 | $22,473 | $19,990 | 13.2 years |
| 14 kW | $2.62 | $25,684 | $23,856 | 13.0 years |
| 16 kW | $2.57 | $28,741 | $27,876 | 12.7 years |
| 18 kW | $2.51 | $31,646 | $32,048 | 12.4 years |
| 20 kW | $2.46 | $34,398 | $36,374 | 12.2 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Since selecting a company can be a tough decision, we have some tips to help you, such as:
- Installation Process: Homeowners should make sure they know how exactly the installation process will be carried out, as well as important factors like the completion timeline.
- 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 get the job done well. Another way you can look into your installer's reputation is by reading reviews.
- Contract: When reading over your solar installer's contract, ask questions about any terms you're not sure of and make sure you understand what happens in scenarios like a system part breaking or the company going out of business.
- Solar Panel Brands: Different companies have different brands and kinds of panels. If you want a specific brand, make sure the solar panel company you're considering has it.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Glenwood, IL Solar Cost FAQs
What is the average cost of installing solar panels in Glenwood?
The average cost of solar panels in Glenwood is about $13,650 for a 5-kW system and $27,300 for a 10-kW system before the ITC, but the real cost will depend on certain factors like the kind of solar panels you want, what size system you need and how much energy you consume.
Are solar panels free in Glenwood?
Solar panels aren't free in Glenwood, but there are some options that can make getting them more viable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can help lower the cost.
Is switching to solar power worth it?
Solar panels can be a great investment for most homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your power bills are already fairly low, solar panels might not be for you.
How long do solar panels last in Glenwood?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can opt to replace them after having them for that long or you can continue to use them at a lower efficiency.
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.