Solar Panel Cost Guide in Homer Glen, IL (2024 Update)
- Homer Glen Solar Installation Cost: $16,907
- 25-Year Savings: $10,336
- Payback Period: 18.7 Years
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Average Cost of Solar Panels in Homer Glen
Let’s have a look at the average cost of solar panels in Homer Glen.
Although the national average of solar panels is $2.66 per watt, solar panels in Homer Glen typically cost around 4.The average solar panel system size in Homer Glen is around 6.4 kilowatts, meaning a cost of about $16,907 for a solar installation, or $24,177 before the 0 federal solar tax credit is applied.
Keep in mind that the numbers above are only averages. The price you’ll end up paying for solar will differ based on your household energy use, the type of equipment you want, your solar contractor and more.For most homeowners, the upfront cost of solar power is worth paying. On average homeowners in Homer Glen see about $13,000 in savings on energy bills over 20 years.
To see your potential savings and connect with a local solar company, click the button below.
Solar savings over time in Homer Glen
| Year | Return on Investment |
|---|---|
| 1 years | $-15,751 |
| 3 years | $-13,439 |
| 5 years | $-11,127 |
| 7 years | $-8,814 |
| 9 years | $-6,502 |
| 11 years | $-4,189 |
| 13 years | $-1,877 |
| 15 years | $435 |
| 17 years | $2,748 |
| 19 years | $5,060 |
| 21 years | $7,372 |
| 23 years | $9,685 |
| 25 years | $11,997 |
Top Solar Installers in Homer Glen
Although you can install solar panels on your own, it involves extra time and know-how. That's why most homeowners choose to hire a solar panel installer. A solar installer can also help save you money in the long run by offering warranties, repairs and component replacements.
There are a number of licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
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 Homer Glen
Factors that Affect Solar Panel Costs in Homer Glen
Cost is usually one of the most important factors for homeowners considering investing in solar. There are a few major factors that will push your cost above or below the average in Homer Glen: solar equipment and system size, financing options and the solar installation company you choose. We’ll cover each of these briefly below.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to some different factors. One of the notable factors is the system size, which is measured in kilowatts (kW). Solar power systems that have better efficiency or power production require better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $3,760.The type of solar panels and equipment you want is another factor that will largely affect costs. Solar panels that are more efficient, like monocrystalline panels, tend to come at a higher price. Further, solar equipment is more than 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 researching a solar system that’s in your budget.
Solar Financing Terms
Solar panels can save you money on power bills over time, but they can also be a significant investment. That’s why many Homer Glen homeowners choose to finance their solar panel systems to make paying for solar more affordable.Though solar loans make switching to solar energy more accessible for Homer Glen homeowners, they can also add to the total you pay for your system, depending on your interest rate. 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
The solar panel installer you pick will influence your total cost to go solar. Different companies will charge different amounts for the equipment and labor.Larger national companies generally 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 additional services like electric car 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 | $3.91 | $16,424 | $4,696 | 19.4 years |
| 8 kW | $3.84 | $21,477 | $6,683 | 19.1 years |
| 10 kW | $3.76 | $26,320 | $8,880 | 18.7 years |
| 12 kW | $3.68 | $30,952 | $11,287 | 18.3 years |
| 14 kW | $3.61 | $35,374 | $13,906 | 17.9 years |
| 16 kW | $3.53 | $39,585 | $16,734 | 17.6 years |
| 18 kW | $3.46 | $43,586 | $19,774 | 17.2 years |
| 20 kW | $3.38 | $47,376 | $23,023 | 16.8 years |
How to Save on Solar Panels
The solar company you go with will be a major factor in determining not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are some important things you should keep in mind, including:
- Warranty: A comprehensive, long-term warranty can help keep your solar system running for years to come and save you money on repairs and maintenance.
- Installation Process: Make sure you’re aligned with the company with regard to how the installation process will go and what needs to be done before your solar panel system is installed, such as updating or replacing your electrical system or roof.
- Solar Panel Brands: Different companies will offer different brands and types of panels. If you want a specific brand, make sure the solar installer you’re considering has it.
- Reputation: Long-running companies likely have a solid reputation. This is important because it ensures that it will not only see your solar project through, but will also provide quality aftercare and customer support, such as part repairs and replacements.
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 Homer Glen, IL Solar Cost FAQs
What is the average cost of installing solar panels in Homer Glen?
The average cost of solar panels in Homer Glen 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 stuff like the type of solar panels you want, what size system you need and how much energy you use.
Are solar panels free in Homer Glen?
A solar panel system isn’t free in Homer Glen, 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 you can take advantage of.
Can solar panels significantly reduce my energy bills?
It is possible to eradicate your electricity bills with solar panels, but for most homeowners in Homer Glen, that will require at least a 10-kW system. Not all homes can accommodate that size system, so you’ll want to check with a local solar installer to see how many panels can fit on your roof.
How long do solar panels last in Homer Glen?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can 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.