Solar Panel Cost Guide in Indian Grove, IL (2023 Update)
- Indian Grove Solar Installation Cost: $16,775
- 25-Year Savings: $13,370
- Payback Period: 16.4 Years
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Updated October 25, 2023
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Average Cost of Solar Panels in Indian Grove
Find out what the average cost of a solar system is in Indian Grove.
While the national average of solar panels is $2.66 per watt, solar panels in Indian Grove typically cost around 4.To cover the typical energy needs of the average home in Indian Grove, most homeowners require a 6.4-kilowatt system. Using the figure above, a solar installation costs around $16,775, or $23,988 before the federal solar tax credit of 0 is applied.
Bear in mind that the figures above are only estimates based on the average Indian Grove homeowner. The price of a solar system for your home may look different depending on factors unique to you, like your household energy use and solar contractor.Many homeowners find adopting solar power is a solid investment. The average homeowner in Indian Grove can save about $15,000 on their power bills over 20 years.
Click the button below to get connected to a vetted solar installer in your area for a customized quote.
Solar savings over time in Indian Grove
| Year | Return on Investment |
|---|---|
| 1 years | $-15,619 |
| 3 years | $-13,307 |
| 5 years | $-10,994 |
| 7 years | $-8,682 |
| 9 years | $-6,370 |
| 11 years | $-4,057 |
| 13 years | $-1,745 |
| 15 years | $567 |
| 17 years | $2,880 |
| 19 years | $5,192 |
| 21 years | $7,505 |
| 23 years | $9,817 |
| 25 years | $12,129 |
Top Solar Installers in Indian Grove
Many homeowners opt for a solar panel company since installing solar panels by yourself can be a lot of work. Since solar panels are exposed to temperature swings and extreme weather, warranties and repairs from your solar company can help you get the most out of your investment in solar panels by avoiding potential costs down the line.
Working with a vetted solar installer can make going solar easier. Here are our recommendations:
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 Indian Grove
Factors that Affect Solar Panel Costs in Indian Grove
For many Indian Grove homeowners, the decision to go solar comes down to cost. However, the range of solar installation costs can be quite wide in Indian Grove, with typical prices between $20,000 to $40,000. There are various factors that greatly influence the price you’ll pay, which we'll go over below.
Solar Equipment
The size of the solar panel system you need for your home, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by around $3,760. There are several different solar panel brands and the one you choose also affects the cost. Generally speaking, the brands that have better efficiency tend to also cost more. Additionally, the type of equipment you’re looking to install can affect your total cost. If you only need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Most solar installers in Indian Grove offer solar loans, which reduce your upfront costs of installing a solar system.When considering your overall cost, you should also calculate the interest you’ll pay if you decide on a solar loan. Also, paying a higher down payment can lower the total interest paid over time.
Solar Panel Installation Company
Lastly, the company you choose to install your solar panel system can influence how much you pay. Indian Grove’s solar companies all have different labor costs and add varying upcharges to equipment. The company’s size sometimes plays the most considerable role in the installation costs. Larger national companies, like SunPro and Sunrun, often have lower pricing due to 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 down to compete with bigger 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 | $7,628 | 17.1 years |
| 8 kW | $3.84 | $21,477 | $10,592 | 16.7 years |
| 10 kW | $3.76 | $26,320 | $13,767 | 16.4 years |
| 12 kW | $3.68 | $30,952 | $17,152 | 16.1 years |
| 14 kW | $3.61 | $35,374 | $20,747 | 15.8 years |
| 16 kW | $3.53 | $39,585 | $24,554 | 15.4 years |
| 18 kW | $3.46 | $43,586 | $28,570 | 15.1 years |
| 20 kW | $3.38 | $47,376 | $32,798 | 14.8 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 models and price points. To help you select the right company for you, here are some tips to keep in mind:
- Contract: Though reading through a contract can be tedious, it’s important to do it fully so you can be sure you understand what services your solar company will provide and the terms of the warranty.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their roof configurations and energy needs. Although there are many options for which kind of solar panel you can get, not every company will have access to the exact one you may want or need, so make sure you take a look at their list of offerings before making your decision.
- Reputation: Make sure your solar panel installer has a good reputation by confirming it has certifications and licenses, checking its work history and reading reviews by past customers and solar experts like EcoWatch.
- Installation Process: Homeowners should understand how exactly the installation process will go, as well as important factors like the project completion timeline.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Indian Grove, IL Solar Cost FAQs
How much does it cost to install solar panels in Indian Grove?
This is a hard question to answer exactly, because the cost depends on a few different factors. Generally speaking, it costs about $18,800 for a 5-kW system and $37,600 for a 10-kW system after the ITC is applied. It will be more expensive if you want other solar equipment or higher quality panels, or if you have higher-than-average energy usage. Conversely, you can spend less if you go with a smaller solar panel system or cheaper solar panels.
Is cost the most important consideration when buying solar panels?
Cost is definitely one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Do solar panels increase your property value?
Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Indian Grove is currently $123,925, so you could be looking at a value of about $5,081 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Indian Grove is a rewarding investment.
How long do solar panels last in Indian Grove?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher amount of energy production.
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.