Solar Panel Cost Guide in Hillsboro, IL (2024 Update)
- Hillsboro Solar Installation Cost: $16,306
- 25-Year Savings: $15,923
- Payback Period: 14.7 Years
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Average Cost of Solar Panels in Hillsboro
We go over average solar pricing in Hillsboro.
The national average cost of solar panels is $2.66 per watt, but in Hillsboro it’s 4 per watt.Using this figure, a typical 6.2-kW system would cost about $16,306 before the 0 federal solar tax credit is applied.
Keep in mind that the figures above are only estimates based on the average Hillsboro homeowner. The cost of a solar system for your home may look different depending on factors unique to your situation, like your household energy use and solar contractor.But, after you've paid the initial cost of installation, the ROI for most homeowners is typically good, with a net average savings of about $17,000 over 20 years on electricity bills.
To calculate your potential savings and connect with a local solar installer, click the button below.
Solar savings over time in Hillsboro
| Year | Return on Investment |
|---|---|
| 1 years | $-15,455 |
| 3 years | $-13,754 |
| 5 years | $-12,053 |
| 7 years | $-10,352 |
| 9 years | $-8,650 |
| 11 years | $-6,949 |
| 13 years | $-5,248 |
| 15 years | $-3,546 |
| 17 years | $-1,845 |
| 19 years | $-144 |
| 21 years | $1,557 |
| 23 years | $3,259 |
| 25 years | $4,960 |
Top Solar Installers in Hillsboro
Many homeowners choose to hire a solar panel installer since installing solar panels by yourself can be a labor-intensive endeavor. Companies can also have access to various kinds of the best solar panels and help you pick which one will be best for you.
If you’d like to go solar but still aren’t sure which solar company to go with, here are our recommendations for providers in Hillsboro:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
See all of the solar companies in Hillsboro
Factors that Affect Solar Panel Costs in Hillsboro
The cost of installing a solar system in Hillsboro can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The most significant one is your system size, and other factors include equipment choices, financing options and the solar company you choose.
Solar Equipment
When it comes to estimating the price of a solar system in Hillsboro, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are mainly based on your home’s energy consumption, which you can gauge by looking at past power bills. Your overall cost can increase by about $3,760 for each additional kilowatt you need.Some solar brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer better efficiency. In a city like Hillsboro, 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
Most solar companies in Hillsboro offer solar loans, which reduce the initial cost of installing solar.You’ll have to consider the long-term cost of loans, including the total interest you’ll pay over the length of the loan. If you’re only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the principal cost. Making a larger down payment or getting a solar loan with a low interest rate could reduce your costs significantly.
Solar Panel Installation Company
The solar installer you pick will play a role in your total cost to go solar. Different companies will charge different amounts for the equipment and labor.You may come across national solar installers that have lower prices due to their larger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or promotions to compete with those larger companies.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $3.91 | $16,424 | $10,463 | 15.3 years |
| 8 kW | $3.84 | $21,477 | $14,372 | 15.0 years |
| 10 kW | $3.76 | $26,320 | $18,492 | 14.7 years |
| 12 kW | $3.68 | $30,952 | $22,822 | 14.4 years |
| 14 kW | $3.61 | $35,374 | $27,362 | 14.1 years |
| 16 kW | $3.53 | $39,585 | $32,113 | 13.8 years |
| 18 kW | $3.46 | $43,586 | $37,075 | 13.5 years |
| 20 kW | $3.38 | $47,376 | $42,247 | 13.2 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: A comprehensive, 25-year warranty can help keep your solar system running for years to come and save you money on part replacement and repairs.
- Reputation: Your solar installer should have a good reputation as a company and have verifiable expertise in the field. A couple of ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has satisfied reviews from previous customers.
- Contract: Before signing a contract with a solar company, be sure to look it over completely so you understand the terms. Also, ask questions if you aren’t sure about some of the terms, such as what to do if a component breaks or malfunctions and if there are any guarantees about energy production.
- Installation Process: Homeowners should make sure they know how exactly the installation process will be carried out, as well as important factors like the project completion timeline.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
EcoWatch's Hillsboro, IL Solar Cost FAQs
What is the average cost of installing solar panels in Hillsboro?
The average cost of solar panels in Hillsboro is about $18,800 for a 5-kW system and $37,600 for a 10-kW system before the ITC, but the real cost will depend on things like the type of solar panels you want, what size system you need and how much energy you consume.
Is cost the most important consideration when buying solar panels?
The initial cost is a key factor to consider, but whether it’s the most important for you depends on your goals for going solar. In places where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to be mindful of are the quality and durability of your solar panels.
How much can I save on power bills after switching to solar?
Solar panels can potentially eliminate your electricity bills depending on where you’re located 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 $896.23 per year.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy consumption and the average daily 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.