Solar Panel Cost Guide in Harvard, IL (2023 Update)
- Harvard Solar Installation Cost: $12,465
- 25-Year Savings: $10,147
- Payback Period: 13.8 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Harvard
Let's have a look at the average cost of solar panels in Harvard.
Although the national average of solar panels is $2.66 per watt, solar panels in Harvard generally cost about 2.73. The average Harvard homeowner needs a 6.5-kilowatt system, which would cost about $12,460 with the federal tax credit, or $17,818 before the 30% tax credit is applied.
How much you pay can be higher or lower than the average in Harvard depending on several factors, such as the kind of solar panels you choose and the solar installer you hire. Many homeowners find going solar is a sound investment. The average homeowner in Harvard can save around $13,000 on their energy bills over 20 years.
For a free quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Harvard
| Year | Return on Investment |
|---|---|
| 1 years | $-11,309 |
| 3 years | $-8,997 |
| 5 years | $-6,684 |
| 7 years | $-4,372 |
| 9 years | $-2,059 |
| 11 years | $253 |
| 13 years | $2,565 |
| 15 years | $4,878 |
| 17 years | $7,190 |
| 19 years | $9,502 |
| 21 years | $11,815 |
| 23 years | $14,127 |
| 25 years | $16,439 |
Top Solar Installers in Harvard
Putting up solar panels by yourself can be a time-consuming undertaking, which is why hiring a solar installation company is a good option for many homeowners. Plus, if you're not certain what type of solar panels and equipment you want, a solar expert can help you figure that out after a site survey and consultation.
Working with a licensed solar company can make going solar easier. Here are our recommendations:
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 Harvard
Factors that Affect Solar Panel Costs in Harvard
The cost of installing a solar system in Harvard can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The biggest one is your system size, and other factors include equipment choices, financing options and the solar company you choose.
Solar Equipment
The size of the solar system you need for your household, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, your total will most likely increase by around $2,730. Some solar brands — like Maxeon from SunPower — are more costly upfront but also tend to offer higher efficiency. In a city like Harvard, where sunlight is relatively abundant, efficiency can quickly pay off. Plus, if you have a small roof or you don't have a lot of space for your panels, higher efficiency options will be a better option. 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 Harvard to be too costly, even if the investment pays off over time. Fortunately, almost every solar installer in the area provides access to financing options. Solar loans remarkably decrease upfront costs for most homeowners, but they also lead to higher prices over time due to interest. You'll have to consider the long-term cost of financing options, including the amount of interest you'll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or finding a solar loan with a low interest rate could reduce your costs significantly.
Solar Panel Installation Company
Lastly, the company you opt for to install your solar system can impact your pricing. Harvard's solar companies all have different labor costs and add varying upcharges to equipment. You may come across national solar installers that have lower prices because of their bigger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or promotions to compete with those major players.
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 | $8,875 | 14.3 years |
| 8 kW | $2.78 | $15,594 | $12,138 | 14.1 years |
| 10 kW | $2.73 | $19,110 | $15,555 | 13.8 years |
| 12 kW | $2.68 | $22,473 | $19,125 | 13.5 years |
| 14 kW | $2.62 | $25,684 | $22,848 | 13.2 years |
| 16 kW | $2.57 | $28,741 | $26,723 | 13.0 years |
| 18 kW | $2.51 | $31,646 | $30,751 | 12.7 years |
| 20 kW | $2.46 | $34,398 | $34,933 | 12.4 years |
How to Save on Solar Panels
Since the kind of solar panels and the company you choose significantly affects your costs and your system's efficiency, production, and durability, it's important to pick the right ones for you. Here are some things to keep in mind to help with your decision:
- Contract: Though reading through a contract can take a lot of time, it's important to do it thoroughly so you can make sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
- Installation Process: Get details from your solar company about the installation process and what to expect, including when the site survey will be completed and what the project timeline is.
- Solar Panel Brands: Each solar panel brand and type has varying levels of quality, longevity and 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.
- Warranty: An all-inclusive, 25-year warranty can help keep your solar panel system running smoothly and save you money on repairs and maintenance.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Harvard, IL Solar Cost FAQs
What is the average cost of installing solar panels in Harvard?
The average cost of solar panels in Harvard 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 like the model of solar panels you want, what size system you need and how much energy you consume.
Are solar panels free in Harvard?
Solar panels aren't free in Harvard, 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.
Can solar panels eliminate 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 $693.31 per year.
How long do solar panels last in Harvard?
Although 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 once you've had 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.