Solar Panel Cost Guide in Joliet, IL (2023 Update)
- Joliet Solar Installation Cost: $12,362
- 25-Year Savings: $10,366
- Payback Period: 13.6 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Joliet
Let's take a look at the average cost of solar panels in Joliet.
While the national average of solar panels is $2.66 per watt, solar panels in Joliet typically cost about 2.73. Using this figure, a typical 6.5-kW system would cost about $12,364 before the 30% federal solar tax credit is applied.
These figures are only estimates, and the cost of going solar for you will differ based on your energy needs and what company you go with. For many homeowners, the upfront cost of solar panels is worth paying. On average you could be looking at about $13,000 in savings on utility bills over 20 years.
To see your potential ROI and connect with a local solar company, click the button below.
Solar savings over time in Joliet
| Year | Return on Investment |
|---|---|
| 1 years | $-11,206 |
| 3 years | $-8,894 |
| 5 years | $-6,581 |
| 7 years | $-4,269 |
| 9 years | $-1,957 |
| 11 years | $356 |
| 13 years | $2,668 |
| 15 years | $4,980 |
| 17 years | $7,293 |
| 19 years | $9,605 |
| 21 years | $11,917 |
| 23 years | $14,230 |
| 25 years | $16,542 |
Top Solar Installers in Joliet
DIY solar panel installation is a possibility, but it's an undertaking that can be a headache. Taking advantage of an installer can make swapping over to solar power much easier. Plus, if you aren't sure what type of solar panels and equipment you want, a solar company can help you figure that out after a site survey and consultation.
There are several licensed solar professionals that can help you install your solar panels. Here are our suggestions:
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 Joliet
Factors that Affect Solar Panel Costs in Joliet
While the average cost of a solar system in Joliet is $12,364, your actual cost may differ. There are quite a few factors that can have a sizable impact on the cost of a solar system installation. Below are some of the more crucial things to take into consideration.
Solar Equipment
One of the most important factors to consider when it comes to the cost of adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household consumes, the larger your system will likely need to be. You can expect to spend about $2,730 per kilowatt in Joliet. The brand of solar panels and equipment you want is another factor that will considerably impact costs. Solar panels that are more efficient, like monocrystalline panels, tend to cost more. Further, solar equipment goes beyond 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 looking for a solar system that's in your budget.
Solar Financing Terms
Most solar installers in Joliet provide solar loans, which reduce the initial cost of installing solar panels. It's a good idea to factor the interest you'll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and how long it'll take to pay back the loan.
Solar Panel Installation Company
The solar installer you opt for to handle your switch to sustainable energy can have an effect on your total costs. There are about 3 solar installation companies in Joliet, and each can charge different amounts for labor and equipment. You may come across national solar installers that have lower prices because of their larger brand name and access to bulk prices, or you might see small, local installation companies offering deals or promotions 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 | $9,155 | 14.1 years |
| 8 kW | $2.78 | $15,594 | $12,513 | 13.9 years |
| 10 kW | $2.73 | $19,110 | $16,023 | 13.6 years |
| 12 kW | $2.68 | $22,473 | $19,686 | 13.3 years |
| 14 kW | $2.62 | $25,684 | $23,503 | 13.1 years |
| 16 kW | $2.57 | $28,741 | $27,472 | 12.8 years |
| 18 kW | $2.51 | $31,646 | $31,594 | 12.5 years |
| 20 kW | $2.46 | $34,398 | $35,868 | 12.2 years |
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Since picking a company can be difficult, we have some tips to help you, such as:
- Contract: Even though reading through a contract can take a lot of time, it's important to do it carefully so you can be sure you understand how much the equipment and services will cost and the terms of the warranty.
- Installation Process: Get detailed information from your solar company about the installation process and what to expect, such as when the site survey will be completed and what the project timeline is.
- Solar Panel Brands: Not all solar installers have the same brands of solar panels, so the brand and type of panel you want can play a substantial role in the company you go with.
- Reputation: Make sure your solar panel installer has a good reputation by verifying it has certifications and licenses, checking its number of years in business and reading reviews by previous 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
EcoWatch's Joliet, IL Solar Cost FAQs
How much does it cost to install solar panels in Joliet?
This is a hard question to answer exactly, because the cost depends on a variety of factors. Broadly speaking, it costs about $13,650 for a 5-kW system and $27,300 for a 10-kW system after the ITC is applied. It will be more expensive if you want other solar equipment or more efficient panels, or if you have higher-than-average energy needs. On the flip side, you can spend less if you opt for a smaller solar panel system or less expensive solar panels.
Is cost the most important consideration when buying solar panels?
Cost is without a doubt one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
How much can I save on power bills after switching to solar?
Solar panels can potentially eliminate your electricity bills depending on your location and how much sunlight your home gets. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $702.66 per year.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy consumption and the average daily sunlight your roof gets. You can take a 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.