Solar Panel Cost Guide in Island Lake, IL (Feb 2023)
- Island Lake Solar Installation Cost: $12,269
- 25-Year Savings: $10,343
- Payback Period: 13.6 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Why you can trust EcoWatch
Top Solar Installers in Island Lake
Many homeowners decide to hire a solar panel company since installing solar panels by yourself can be time-consuming. Another advantage of utilizing a solar company is that they can help you maximize your ROI by cutting back on future costs of repairs and replacements due to warranties and informing you of local incentives you can take advantage of.
There are various licensed solar professionals that can install solar panels for you. Here are our suggestions:
See all of the solar companies in Island Lake
Factors that Affect Solar Panel Costs in Island Lake
The cost of installing a solar system in Island Lake can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The biggest one is the size of the system you need, and other factors include equipment choices, financing options and the solar installer you choose.
System size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of going solar. Because of that, it's a priority to accurately ascertain the size of the solar energy system needed for your home by figuring out your energy needs. Some solar panel brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer higher efficiency. In a city like Island Lake, where sunlight is relatively abundant, efficiency can quickly pay off. Plus, if you have a small roof or you don't have a lot of space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be a challenge. Solar loans are available from most installers in Island Lake, which can reduce, or in some cases completely eliminate, your upfront costs to make solar more accessible. When considering 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
The solar installer you opt for to handle your switch to green energy can play a part in your total costs. There are about 3 solar installation companies operating throughout Island Lake, and each can charge varying amounts for labor and equipment. The company's size can sometimes play the most significant role in the installation costs. Larger national companies, like SunPro and Sunrun, often have lower pricing because they have greater resources and better pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or discount can bring their pricing lower 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||$2.84||$11,925||$9,203||14.1 years|
|8 kW||$2.78||$15,594||$12,576||13.8 years|
|10 kW||$2.73||$19,110||$16,102||13.6 years|
|12 kW||$2.68||$22,473||$19,781||13.3 years|
|14 kW||$2.62||$25,684||$23,613||13.0 years|
|16 kW||$2.57||$28,741||$27,598||12.8 years|
|18 kW||$2.51||$31,646||$31,736||12.5 years|
|20 kW||$2.46||$34,398||$36,027||12.2 years|
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Since choosing a company can be a tough decision, we have some tips to help you, such as:
- Contract: When looking through your solar installer's contract, ask for clarification about any terms you're not sure of and make sure you understand what happens in scenarios like a system component breaking or the company going out of business.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their roof configurations and energy needs. Even though there are many options for which type 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 peruse their list of options before making your decision.
- Warranty: Warranties that cover defective panels and repairs over a long period of time such as 25 years are the gold standard in the business, and offering such a warranty is one indication of a quality company.
- 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 most likely has a solid reputation and is qualified to install your solar system. Another way you can look into your installer's reputation is by reading reviews.
EcoWatch's Island Lake, IL Solar Cost FAQs
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.