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.
The average cost of a solar system in Homer Glen is 4 per watt.Using this figure, a typical 6.4-kW system would cost about $16,907 before the 0 federal solar tax credit is applied.
These figures are just estimates, and your own solar costs may vary based on your specific situation and what company you choose to go with.But, after you've paid the initial cost of installation, the savings for most homeowners is usually good, with a net average savings of about $13,000 over 20 years on utility bills.
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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
Installing solar panels yourself can be a time-consuming undertaking, which is why using a solar installer is a good option for many homeowners. The expertise that solar installers provide can be valuable as well, especially if you don’t quite know what kind of solar equipment would be right for your home.
If you’d like to switch to solar energy but still aren’t sure which solar system company to go with, here are our recommendations for providers near you:
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
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
See all of the solar companies in Homer Glen
Factors that Affect Solar Panel Costs in Homer Glen
While the average cost of a solar system in Homer Glen is $16,907, your final cost may differ. There are many factors that can have a sizable impact on the cost of a solar panel installation. Below are some of the more important things to consider.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of going solar. That’s why it’s crucial to accurately ascertain the size of the solar energy system needed for your home by figuring out your average energy use.There are several different solar panel brands and the one you choose also changes the cost. Typically, the brands that offer higher efficiency tend to also be more expensive. Plus, the type of equipment you’re looking to get can affect your total cost. If you just need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Solar panels can save you money on energy bills over time, but they can also be a significant investment. That’s why many Homer Glen homeowners opt to finance their solar panel systems to make going solar more affordable.When figuring out your overall cost, you should also calculate the interest you’ll pay if you opt for a solar loan. Also, paying more on your down payment can lower the total interest paid over time.
Solar Panel Installation Company
A final consideration when trying to figure out the cost of solar for your home or business in Homer Glen is the company you get to install your solar panel system. Similar to choosing a company to build a deck or pool, for example, there’s no shortage of solar installers that offer a range of services for different budgets.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 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 | $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 panel company you opt for will impact not only your total costs, but also the types of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are several important things you should keep in mind, such as:
- Warranty: Many companies offer different kinds of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Installation Process: Homeowners should understand how exactly the installation process will go, as well as important factors like the project completion timeline.
- Solar Panel Brands: Different companies offer different brands and types of panels. If you prefer a specific brand, make sure the solar panel company you’re considering has it.
- Reputation: Make sure your solar installer has a good reputation by verifying it has certifications and licenses, checking how long it's been in business and reading reviews by past customers and solar experts like EcoWatch.
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
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
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 such as the model of solar panels you want, what size system you need and how much energy you use.
Can you get solar panels for 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 affordable, 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 energy bills?
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 $703.99 per year.
How often do you have to replace solar panels?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is how much 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.