Solar Panel Cost Guide in Gurnee, IL (Feb 2023)
- Gurnee Solar Installation Cost: $12,078
- 25-Year Savings: $10,534
- Payback Period: 13.4 Years
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Top Solar Installers in Gurnee
Many homeowners opt for a solar panel company since trying to put up solar panels by yourself can be a lot of work. Plus, if you aren't sure what kind of solar panels and equipment you may need, a solar company can help you figure that out after a site survey and consultation.
You can get a free estimate from a local solar installer on the cost of solar panels for your home. Here are some nearby:
See all of the solar companies in Gurnee
Factors that Affect Solar Panel Costs in Gurnee
The cost of installing a solar system in Gurnee can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The largest one is your system size, and other factors include equipment choices, financing options and the solar installer you choose.
One of the most significant factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more power your household uses, the larger your system will likely need to be. You can expect to spend about $2,730 per kilowatt in Gurnee. The brand of solar panels and equipment you choose is another factor that will significantly affect costs. Solar panels that are more efficient, like monocrystalline panels, tend to be more expensive. Moreover, solar equipment goes beyond just the solar panels themselves. You'll also need to consider 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
Solar panels can save you money on utility bills over time, but they can also be a big investment. That's why many Gurnee homeowners decide to finance their solar panel systems to make paying for solar more affordable. Even though solar loans make going solar more accessible for Gurnee homeowners, they can also raise the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you put down a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
A final consideration when trying to figure out the cost of solar for your home or business in Gurnee is the company you get to install your solar system. Similar to choosing a company to renovate your kitchen, for instance, there's no shortage of solar installers that offer a range of services for different budgets. The company's size sometimes plays the most considerable role in your costs. Larger national companies, like SunPro and Sunrun, often have lower pricing due to access to 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 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
There are many solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you pick the right company for you, here are some tips to keep in mind:
- Solar Panel Brands: Each solar panel brand and type has varying levels of quality, durability and energy efficiency. They will come at different price points as well. The company you choose plays a role in which solar panel brands you have access to.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for sustainable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a solid reputation and is qualified to install your solar system. Another way you can look into your installer's reputation is by reading reviews.
- Warranty: Companies typically offer different kinds of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Contract: Before signing a contract with a solar company, make sure you read it through fully so you understand the terms. Also, ask questions if you're not certain about some of the terms, such as what to do if a part breaks or malfunctions and if there are any guarantees about energy production.
EcoWatch's Gurnee, 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.