Solar Panel Cost Guide in Groveland, IL (2023 Update)
- Groveland Solar Installation Cost: $12,154
- 25-Year Savings: $7,676
- Payback Period: 15.3 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Groveland
We break down average solar pricing in Groveland.
The national average cost of solar panels is $2.66 per watt, but in Groveland it's 2.73 per watt. Because a 6.4-kW system is needed to cover the energy consumption of a typical home in Groveland, the average price of going solar will be about $12,154 after claiming the federal solar tax credit of 30%.
The prices above are just estimates to give you an idea of how much a solar panel system could cost. The true cost of going solar can vary quite a bit based on a few factors, such as what size system you need, your energy usage and what solar installer you go with. With typical savings of about $12,000 on utility bills over 20 years, many homeowners in Groveland find investing in solar has a decent ROI.
To get a free estimate from a vetted solar installation company in Groveland, you can click the button below.
Solar savings over time in Groveland
| Year | Return on Investment |
|---|---|
| 1 years | $-11,361 |
| 3 years | $-9,774 |
| 5 years | $-8,188 |
| 7 years | $-6,601 |
| 9 years | $-5,015 |
| 11 years | $-3,429 |
| 13 years | $-1,842 |
| 15 years | $-256 |
| 17 years | $1,331 |
| 19 years | $2,917 |
| 21 years | $4,503 |
| 23 years | $6,090 |
| 25 years | $7,676 |
Top Solar Installers in Groveland
When going solar, many homeowners decide to hire a solar installer since DIY solar panel installation can be a challenging project. Also, companies with a good reputation that cost more upfront could actually save you money in the long term because of their warranties, repair services and expert design.
You can work with a local solar installer to get a free quote on how much your investment in solar could cost for your home. Here are some in Groveland:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
See all of the solar companies in Groveland
Factors that Affect Solar Panel Costs in Groveland
There are a number of factors that can determine your solar system installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that performs the installation.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a variety of factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems that have greater efficiency or power generation need better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $2,730. The brand and kind of equipment you get for your solar system can raise or lower the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these often have a higher price tag than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have a small roof or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to more savings over time. Also, if you want extra equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
If paying for a solar system out of pocket is too expensive, solar loans are a popular choice because they decrease your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years. However, the interest on solar loans also adds to your overall costs, so it's important to include that in your estimate as well. You can always lower the total you pay in interest and in some cases even your APR by making a larger down payment.
Solar Panel Installation Company
The solar installation company you select will impact your total cost to go solar. Different companies will bill different amounts for the equipment and labor. Additionally, some companies in Groveland have more knowledge about local solar incentives and can help you take advantage 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 | $2.84 | $11,925 | $6,772 | 15.9 years |
| 8 kW | $2.78 | $15,594 | $9,336 | 15.6 years |
| 10 kW | $2.73 | $19,110 | $12,052 | 15.3 years |
| 12 kW | $2.68 | $22,473 | $14,921 | 15.0 years |
| 14 kW | $2.62 | $25,684 | $17,943 | 14.7 years |
| 16 kW | $2.57 | $28,741 | $21,117 | 14.4 years |
| 18 kW | $2.51 | $31,646 | $24,445 | 14.1 years |
| 20 kW | $2.46 | $34,398 | $27,925 | 13.8 years |
How to Save on Solar Panels
There are a large number of companies available in Groveland, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be difficult, so here are some tips to help you decide:
- Warranty: A quality company rises above other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Solar Panel Brands: The kind of solar panel you'd like plays a part in which installer you should opt for, since different companies offer different panels.
- Installation Process: Make sure you're aligned with the company in regard to how the installation process will go and what you need to do before your solar panels are installed, such as updating your electrical system or roof.
- Contract: It's important to look over your solar installer's contract carefully to understand what services they will provide, what the warranty covers and what expectations you should have about the installation process.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
EcoWatch's Groveland, IL Solar Cost FAQs
What is the average cost of installing solar panels in Groveland?
The average cost of solar panels in Groveland 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 certain factors such as the model of solar panels you want, what size system you need and how much energy you use.
Are solar panels free in Groveland?
You can't get solar panels for free in Groveland. However, you may still be able to install them on a lower budget. You can lease solar panels for a low upfront cost or, if you want to own your solar panels, you can finance them with a solar loan.
Can solar panels completely eradicate my electricity bills?
Solar panels can potentially eliminate your electricity bills depending on your location 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 $623.23 per year.
How long do solar panels last in Groveland?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger level 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.