Solar Panel Cost Guide in Gurnee, IL (2023 Update)
- Gurnee Solar Installation Cost: $12,084
- 25-Year Savings: $10,528
- Payback Period: 13.4 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Gurnee
Let's have a look at the average cost of solar panels in Gurnee.
While the national average of solar panels is $2.66 per watt, solar panels in Gurnee typically cost around 2.73. To account for the typical energy needs of the average home in Gurnee, most homeowners require a 6.3-kilowatt system. Using the per-watt figure above, a solar installation costs about $12,078, or $17,272 before the federal solar tax credit of 30% is applied.
These figures are just estimates, and how much solar costs for you will most likely look different based on your energy needs and what company you choose to go with. Many homeowners find adopting solar power is a rewarding investment. The average homeowner in Gurnee can save around $14,000 on their energy bills over 20 years.
You can click the button below to get connected with a vetted solar installer in Gurnee that can help you get a more accurate cost estimate for your home.
Solar savings over time in Gurnee
| Year | Return on Investment |
|---|---|
| 1 years | $-12,008 |
| 3 years | $-11,858 |
| 5 years | $-11,707 |
| 7 years | $-11,556 |
| 9 years | $-11,405 |
| 11 years | $-11,255 |
| 13 years | $-11,104 |
| 15 years | $-10,953 |
| 17 years | $-10,802 |
| 19 years | $-10,652 |
| 21 years | $-10,501 |
| 23 years | $-10,350 |
| 25 years | $-10,199 |
Top Solar Installers in Gurnee
Although you can install solar panels by yourself, it requires extra energy and expertise. Because of that, the majority of homeowners choose to go with a solar panel installer. A solar company can also help save you money in the long run by providing warranties, repairs and part replacements.
There are several licensed solar professionals that can install solar panels for you. Here are our suggestions:
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 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 dependent on several factors. The largest one is the size of the system your household needs, and other factors include equipment choices, financing options and the solar company you choose.
Solar Equipment
One of the most important 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 energy your household uses, the larger your system will likely need to be. You can expect to spend about $2,730 per kilowatt in Gurnee. Some solar panel brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer higher efficiency. In a city like Gurnee, where sunlight is relatively abundant, efficiency can quickly pay off. Also, if you have a small roof or limited 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
Many homeowners find the average cost of solar in Gurnee to be prohibitively steep, even if the investment pays off over time. Thankfully, nearly every solar company in the area offers financing options. Solar loans drastically decrease upfront costs in most cases, but they also lead to a higher cost over time due to interest. However, the interest on solar loans also increases your total 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 final key cost factor you should consider is the installer you choose. Given the booming popularity of renewable energy solutions in Gurnee, you'll have a great number of options to choose from, but each comes at different price points for labor and equipment. Larger national companies typically have lower costs, but some local companies keep up with them by promoting sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or extra services like electric vehicle charger installation, they might be cheaper overall.
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 a lot of solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you find the right company for you, here are some tips to keep in mind:
- Warranty: If you care about the longevity of your solar system, ensuring your company offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Reputation: Solar companies that have great reviews from their customers and that have been operating for many years likely provide high-quality solar panel installation and expertise.
- Contract: Before signing a contract with a solar installer, make sure to look it over 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 if there are any guarantees about energy production.
- Solar Panel Brands: The kind of solar panel you'd like to get plays a part in which installer you should opt for, since different companies have access to different panels.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Gurnee, IL Solar Cost FAQs
How much does it cost to install solar panels in Gurnee?
This is a difficult question to answer exactly, because the cost depends on a few different factors. Broadly speaking, it costs about $13,650 for a 5-kW system and $27,300 for a 10-kW system after the ITC is applied. You can expect to pay more if you want other solar equipment or more efficient panels, or if you have higher-than-average energy needs. Conversely, you can spend less if you choose a smaller solar panel system or less efficient solar panels.
Can you get solar panels for free in Gurnee?
Solar panels aren't free in Gurnee, 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 further reduce the cost.
Does Gurnee have a net metering program?
Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just give you credit toward your future energy bills.
How many solar panels do I need to power my home?
The exact number of solar panels you need depends on your household energy consumption and how much sunlight your roof gets. You can 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 cover 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.