Solar Panel Cost Guide in Huntley, IL (2023 Update)
- Huntley Solar Installation Cost: $12,472
- 25-Year Savings: $10,139
- Payback Period: 13.8 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Huntley
See how much it might cost to switch to solar power in Huntley.
The average cost of a solar panel system in Huntley is 2.73 per watt. The average solar panel system size in Huntley is around 6.5 kilowatts, meaning a cost of about $12,479 for a solar installation, or $17,845 before the 30% federal solar tax credit is applied.
The true price you pay can be above or below the average in Huntley based on several factors, such as the kind of solar panels you choose and the solar contractor you hire. For many homeowners, the upfront investment in solar panels is worth paying. On average homeowners in Huntley see about $13,000 in savings on energy bills over 20 years.
Click the button below to get connected to a highly rated solar panel company in Huntley for a custom estimate.
Solar savings over time in Huntley
| Year | Return on Investment |
|---|---|
| 1 years | $-11,316 |
| 3 years | $-9,004 |
| 5 years | $-6,691 |
| 7 years | $-4,379 |
| 9 years | $-2,067 |
| 11 years | $246 |
| 13 years | $2,558 |
| 15 years | $4,870 |
| 17 years | $7,183 |
| 19 years | $9,495 |
| 21 years | $11,808 |
| 23 years | $14,120 |
| 25 years | $16,432 |
Top Solar Installers in Huntley
Many homeowners decide to hire a solar panel installer since trying to put up solar panels on your own can be a labor-intensive endeavor. Companies can also offer access to various kinds of the best solar panels and help you choose which one will be right for your family.
You can get a free quote from a local solar installer on how much your investment in solar could cost for your home. Here are some in Huntley:
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 Huntley
Factors that Affect Solar Panel Costs in Huntley
Though the average cost of a solar system in Huntley is $12,479, your final cost may differ. There are quite a few factors that can have a sizable impact on the cost of a residential solar panel installation. Below are some of the more important things to take into consideration.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of going solar. Because of that, it's crucial to accurately gauge the size of the solar energy system needed for your home by figuring out your energy needs. The brand and type of equipment you get for your solar system can increase or decrease the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these often come at a higher price than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have a small roof or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to greater savings over time. Also, if you want additional equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
Solar panels can save you money on utility bills over many years, but they can also be a big investment. That's why many Huntley homeowners choose to finance their solar panel systems to offset upfront costs. When trying to figure out your overall cost, you should also calculate the interest you'll pay if you opt for a solar loan. Also, paying more upfront can lower the total interest paid over time.
Solar Panel Installation Company
Lastly, the company you hire to install your solar system can impact your pricing. Huntley'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 larger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or specials 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 | $8,863 | 14.3 years |
| 8 kW | $2.78 | $15,594 | $12,123 | 14.1 years |
| 10 kW | $2.73 | $19,110 | $15,536 | 13.8 years |
| 12 kW | $2.68 | $22,473 | $19,101 | 13.5 years |
| 14 kW | $2.62 | $25,684 | $22,820 | 13.2 years |
| 16 kW | $2.57 | $28,741 | $26,691 | 13.0 years |
| 18 kW | $2.51 | $31,646 | $30,716 | 12.7 years |
| 20 kW | $2.46 | $34,398 | $34,893 | 12.4 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you pick the right company for you, here are some tips to keep in mind:
- Reputation: Your solar installer should have a good reputation as a company and have proven expertise in the field. A couple of ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has satisfied reviews from past customers.
- Warranty: Many companies offer different kinds of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Solar Panel Brands: Not all solar installers offer the same brands of solar panels, so the brand and type of panel you want can play a substantial role in the company you opt for.
- Contract: Review the contract terms carefully to make sure you understand the cost breakdown, project timeline incentives and warranties.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Huntley, IL Solar Cost FAQs
What is the average cost of installing solar panels in Huntley?
The average cost of solar panels in Huntley 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 things such as the model of solar panels you want, what size system you need and how much energy you use.
Should I lease or buy solar panels in Huntley?
Leasing solar panels can be an attractive choice, because it usually comes with low or $0 upfront payments. The downside is that you won't be able to save as much. If you lease, you don't own the system, so you can't claim any tax rebates and credits and your home value won't increase. Buying solar panels is a better way to go if you want to get the most savings.
Do solar panels increase how much your home is worth?
Solar panels can increase your property's value considerably as long as you buy or finance your panels and don't go for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing a solar system."
How many solar panels should I get to power my home?
The exact number of solar panels you need depends on your household energy consumption and the amount of 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 buy 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.