Solar Panel Cost Guide in Kendall, IL (2023 Update)
- Kendall Solar Installation Cost: $12,384
- 25-Year Savings: $11,042
- Payback Period: 13.2 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Kendall
Find out what the average cost of solar panel installation is in Kendall.
The national average cost of solar panels is $2.66 per watt, but in Kendall it's 2.73 per watt. Because a 6.5-kW system is needed to cover the energy consumption of a typical home in Kendall, the average price of going solar will be about $12,383 after claiming the federal solar tax credit of 30%.
These figures are only estimates, and how much solar costs for you may differ based on factors unique to your home and what company you choose to go with. With typical savings of about $14,000 on power bills over 20 years, many homeowners in Kendall find installing solar panels has a decent ROI.
To calculate your potential ROI and connect with a local solar expert, click the button below.
Solar savings over time in Kendall
| Year | Return on Investment |
|---|---|
| 1 years | $-12,306 |
| 3 years | $-12,149 |
| 5 years | $-11,993 |
| 7 years | $-11,837 |
| 9 years | $-11,681 |
| 11 years | $-11,525 |
| 13 years | $-11,369 |
| 15 years | $-11,212 |
| 17 years | $-11,056 |
| 19 years | $-10,900 |
| 21 years | $-10,744 |
| 23 years | $-10,588 |
| 25 years | $-10,432 |
Top Solar Installers in Kendall
Do-it-yourself solar panel installation is a way to cut costs, but it's an undertaking that can take a lot of hard work. Hiring an installer can make swapping over to solar power much easier. Also, companies with an outstanding reputation that cost more upfront could actually save you money in the long term due to their warranties, repair services and expert design.
You can work with a local solar installer to get a free estimate on how much solar panels could cost for your home. Here are some near you:
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 Kendall
Factors that Affect Solar Panel Costs in Kendall
Though the average cost of a solar system in Kendall is $12,383, your actual cost may be higher or lower than that. There are many 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 keep in mind.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to some different factors. One of the main factors is the system size, which is measured in kilowatts (kW). Solar power systems with greater efficiency or power production use better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $2,730. The type of solar panels and equipment you get is another factor that will largely affect costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to cost more. Furthermore, solar equipment is more than just the solar panels themselves. You'll also need to think about 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 into a solar system that's in your budget.
Solar Financing Terms
Solar panels can save you money on utility bills over time, but they can also be a significant investment. That's why many Kendall homeowners choose to finance their solar panel systems to make going solar more affordable. You'll have to consider the long-term cost of financing options, including the total interest you'll pay over the length of the loan. If you're only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the original cost. Making a larger down payment or securing a solar loan with a low interest rate could reduce your costs remarkably.
Solar Panel Installation Company
The final significant cost factor you should consider is the installer you choose. Given the booming popularity of renewable energy solutions in Kendall, you'll have a great number of options to choose from, but each comes at different price points for labor and equipment. Larger national companies typically have lower costs, but some local companies undercut them by offering sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or add-on services like electric vehicle charger installation, they might be cheaper overall.
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 | $9,765 | 13.7 years |
| 8 kW | $2.78 | $15,594 | $13,326 | 13.5 years |
| 10 kW | $2.73 | $19,110 | $17,039 | 13.2 years |
| 12 kW | $2.68 | $22,473 | $20,906 | 13.0 years |
| 14 kW | $2.62 | $25,684 | $24,925 | 12.7 years |
| 16 kW | $2.57 | $28,741 | $29,097 | 12.4 years |
| 18 kW | $2.51 | $31,646 | $33,422 | 12.2 years |
| 20 kW | $2.46 | $34,398 | $37,900 | 11.9 years |
How to Save on Solar Panels
Since the kind of solar panels and the installation company you choose has an impact on your costs and your system's efficiency, production, and durability, it's important to select the right ones for you. Here are some tips to keep in mind to help with your decision:
- Contract: Before you sign a contract with a solar installer, make sure to read it through completely so you understand the terms. Also, ask questions if you're unsure about some of the terms, such as what to do if a part breaks or malfunctions and if there are any guarantees about energy production.
- Warranty: A comprehensive, 25-year warranty can help keep your solar system running for a long time and save you money on part replacement and repairs.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and how much efficiency they need. 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 be sure to ask for their list of options before making your decision.
- Reputation: Long-standing companies likely have a good reputation. This is important because it ensures that it will not only see your solar project through, but will also provide adequate aftercare and customer service, such as part repairs and replacements.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Kendall, IL Solar Cost FAQs
How much does it cost to install solar panels in Kendall?
This is a difficult 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 cost more if you want additional solar equipment or higher quality panels, or if you have higher-than-average energy usage. Conversely, you can spend less if you opt for a smaller solar panel system or less expensive solar panels.
Should I lease or buy solar panels in Kendall?
Leasing solar panels can be an attractive choice, as it often 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 incentives and your home value won't increase. Buying solar panels is a better option if you want to get the most savings.
Do solar panels increase your home value?
Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Kendall is currently $262,983, so you can look forward to a value of about $10,782 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Kendall is a fruitful investment.
How often do you have to replace solar panels?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger level 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.