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
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Why you can trust EcoWatch
Average Cost of Solar Panels in Hillsboro
We go over average solar pricing in Hillsboro.
Although the national average of solar panels is $2.66 per watt, solar panels in Hillsboro generally cost about 4.Using this figure, a typical 6.2-kW system would cost about $16,306 before the 0 federal solar tax credit is applied.
Bear in mind that the figures above are only estimates based on the average Hillsboro homeowner. The price of a solar system for your home may be different depending on factors unique to your situation, like your household energy use and solar contractor.With average savings of about $17,000 on power bills over 20 years, many homeowners in Hillsboro find going solar can be quite rewarding.
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 installer since trying to install solar panels by yourself can be a lot of work. A solar installer can also help save you money in the long run by providing warranties, repairs and system component replacements.
Working with a vetted solar installer can help you make the most of your investment in solar. Here are our recommendations:
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
Cost is usually one of the most important factors for homeowners wanting to invest in solar. There are a few major factors that determine your overall cost in Hillsboro: solar equipment and system size, financing options and the solar installation company you choose. We’ll cover each of these briefly below.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of going solar. That’s why it’s a priority to accurately gauge the size of the solar energy system needed for your home by figuring out your typical energy use.The model of solar panels and equipment you choose is another factor that will significantly influence costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to cost more. Plus, solar equipment consists of more than just the solar panels themselves. You’ll also need to decide on the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when looking for a solar system that’s in your budget.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be financially overwhelming. Solar loans are provided by most installers in Hillsboro, which can bring down, or in some cases totally eliminate, your upfront costs to make solar more affordable.However, the interest on solar loans also adds to your total costs, so it’s important to keep that in mind as well. You can always reduce the total you pay in interest and in some cases even your APR by putting more money down.
Solar Panel Installation Company
The last major cost factor you should keep in mind is the installer you choose. Given the booming popularity of clean energy solutions in Hillsboro, you’ll have a great number of options to choose from, but each comes at different price points for labor and equipment.The company’s size sometimes plays the most significant role in the cost of installation. Larger national companies, like SunPro and Sunrun, often have lower pricing because they have access to greater 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 promotion can bring their pricing lower to compete with bigger names.
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 large number of companies available in Hillsboro, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be tough, so here are some tips to help you decide:
- Warranty: If you’re worried about the durability of your solar panels, verifying that your company offers a 25-year, all-inclusive warranty can help put you at ease.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for renewable 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 research your installer’s reputation is by reading reviews.
- Contract: Before you sign a contract with a solar company, be sure to read it through fully so you understand the terms. Also, ask questions if you’re not sure about some of the terms, such as what the warranty covers and if there are any guarantees about energy production.
- Installation Process: Make sure you’re aligned with the installer regarding how the installation process will go and what you need to do before your solar panels are installed, such as repairing your electrical system or roof.
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
How much does it cost to install solar panels in Hillsboro?
This is a hard question to answer precisely, because the cost depends on a variety of factors. Broadly speaking, it costs about $18,800 for a 5-kW system and $37,600 for a 10-kW system after the ITC is applied. You can expect to pay more if you want additional solar equipment or higher quality panels, or if you have above-average energy usage. On the other hand, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.
What other factors should I consider other than cost when buying solar panels?
Cost is a crucial factor to consider, but whether it’s the most important for you depends on why you decided to go solar. In places where rooftop space is limited, efficiency can trump the cost. Other factors that are important to take into account 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 the efficiency of your system. 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.
How many solar panels should I get to power my home?
The exact number of solar panels you need depends on your household energy needs and how much sunlight your roof gets. You can take a 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 buy between 20 and 35 panels to account for 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.