Solar Panel Cost Guide in Grandwood Park, IL (Jan 2023)
- Grandwood Park Solar Installation Cost: $12,078
- 25-Year Savings: $10,534
- Payback Period: 13.4 Years
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Top Solar Installers in Grandwood Park
DIY solar panel installation is a way to cut costs, but it's an undertaking that can be a headache. Taking advantage of a solar company can make your swap to solar power much easier. The expertise that solar companies offer can be invaluable as well, particularly if you don't quite know what kind of solar equipment you need.
Working with a licensed solar installer can help you make the most of your investment in solar. Here are our recommendations:
See all of the solar companies in Grandwood Park
Factors that Affect Solar Panel Costs in Grandwood Park
The cost of installing a solar system in Grandwood Park can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The biggest one is the size of the system your home needs, and other factors include the equipment you choose, financing options and the solar company you choose.
The size of the solar system you need to offset your energy usage, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by about $2,730. The model of solar panels and equipment you want is another factor that will greatly affect costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to come at a higher price. Moreover, solar equipment goes beyond just the solar panels themselves. You'll also need to decide on the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when searching for a solar system that's in your budget.
Solar Financing Terms
Most solar installers in Grandwood Park offer solar loans, which reduce the initial cost of installing a solar system. It's a good idea to include the interest you'll pay in your final cost estimate. If you can afford to pay a higher down payment, you can reduce your total costs and how long it'll take to pay off the loan.
Solar Panel Installation Company
A final consideration when trying to estimate the cost of solar for your home or business in Grandwood Park is the company you hire to install your solar system. As with choosing a company to build a deck or pool, for example, there are plenty of solar installers that offer a range of services for different budgets. The company's size can sometimes play the most significant role in the cost of installation. Larger national companies, like SunPro and Sunrun, often have lower pricing because they have 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 down 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||$9,531||13.9 years|
|8 kW||$2.78||$15,594||$13,014||13.6 years|
|10 kW||$2.73||$19,110||$16,649||13.4 years|
|12 kW||$2.68||$22,473||$20,438||13.1 years|
|14 kW||$2.62||$25,684||$24,379||12.8 years|
|16 kW||$2.57||$28,741||$28,473||12.6 years|
|18 kW||$2.51||$31,646||$32,721||12.3 years|
|20 kW||$2.46||$34,398||$37,121||12.0 years|
How to Save on Solar Panels
Since the brand of solar panels and the company you choose has an impact on your costs and your system's durability and efficiency, it's important to select the right ones for you. Here are some things to keep in mind to help with your decision:
- Installation Process: Homeowners should understand how exactly the installation process will go, as well as important factors like the project completion timeline.
- Contract: Read the contract terms thoroughly to make sure you understand the total cost, project timeline incentives and warranties.
- Reputation: Long-running companies likely have a high reputation. This is important because it ensures that it will not only see your solar project through, but will also provide quality aftercare and customer support, such as part repairs and replacements.
- Solar Panel Brands: Not all solar installers have the same brands of solar panels, so the brand and type of panel you want can play a considerable role in the company you opt for.
EcoWatch's Grandwood Park, IL Solar Cost FAQs
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.