Solar Panel Cost Guide in Lake Bluff, IL (Nov 2022)

  • Lake Bluff Solar Installation Cost: $12,078
  • 25-Year Savings: $10,534
  • Payback Period: 13.4 Years

See cost of a solar system near you:

EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 11/09/2022

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Average Cost of Solar Panels in Lake Bluff

Find out what the average cost of a solar system is in Lake Bluff.

Currently, the national average cost of solar panels is $2.66 per watt. However, in Lake Bluff, the typical cost of solar panels is $3 per watt. The average Lake Bluff homeowner needs a 6.3-kilowatt system, which would cost about $12,078, or $8,938 after the federal solar tax credit of 30% is applied.

The true price you pay can go above or below the average in Lake Bluff based on a few factors, such as the kind of solar panels you choose and the solar installer you hire. Even with the high initial cost, the average Lake Bluff homeowner can save around $14,000 on their power bills over 20 years, which is one of the positives of solar.

To see your potential ROI and connect with a local solar installer, click the button below.

Solar savings over time in Lake Bluff

Year Return on Investment
1 years $-11,173
3 years $-9,364
5 years $-7,555
7 years $-5,746
9 years $-3,937
11 years $-2,128
13 years $-319
15 years $1,490
17 years $3,298
19 years $5,107
21 years $6,916
23 years $8,725
25 years $10,534

Top Solar Installers in Lake Bluff

Although it's possible to install solar panels by yourself, it requires extra labor and expertise. For that reason, most homeowners choose to hire a solar panel installer. Solar companies provide key benefits that can help you maximize your investment, like warranties, monitoring and free repairs.

If you'd like to start using solar energy but still aren't certain which solar installer to go with, here are our recommendations for providers nearby:

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Solar Financing

Blue Raven Solar

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries (coming 2022)

Best Technology

Tesla Energy

★★★★★
4.5

  • Price-match guarantee
  • Sleek, efficient, and durable solar panels
  • Best solar battery on the market
  • Some reported issues with customer service
  • Customer service varies by local dealer

See all of the solar companies in Lake Bluff

Factors that Affect Solar Panel Costs in Lake Bluff

For many Lake Bluff homeowners, the decision to install solar panels depends on cost. However, the range of solar installation costs can be quite wide in Lake Bluff, with typical prices between $20,000 to $40,000. There are numerous factors that significantly influence the price you'll pay, which we'll go over below.

Solar Equipment

One of the most significant factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more energy your household uses, the larger your system will likely need to be. You can expect to pay around $2,730 per kilowatt in Lake Bluff. There are several different solar panel brands and the one you pick also affects the cost. In general, the brands that offer higher efficiency tend to also cost more. In addition, the type of equipment you're looking to get can affect your total cost. If you only need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.

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 Lake Bluff homeowners decide to finance their solar panel systems to make paying for solar more affordable. It's a good idea to include 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 the amount of time it'll take to pay back the loan.

Solar Panel Installation Company

Lastly, the company you opt for to install your solar system can influence your pricing. Lake Bluff's solar companies all have different labor costs and add varying upcharges to equipment. Larger national companies usually 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 extra services like electric car 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 $9,531 13.9 years
8 kW $2.78 $15,594 $13,014 13.6 years
10 kW $2.73 $19,110 $16,649 13.4 years
12 kW $2.68 $22,473 $20,438 13.1 years
14 kW $2.62 $25,684 $24,379 12.8 years
16 kW $2.57 $28,741 $28,473 12.6 years
18 kW $2.51 $31,646 $32,721 12.3 years
20 kW $2.46 $34,398 $37,121 12.0 years

How to Save on Solar Panels

The solar company you choose will influence not only your total costs, but also the types of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are some important things you should keep in mind, including:

  • Solar Panel Brands: Each solar panel brand and kind offers varying levels of quality, durability and energy efficiency. They will come at different prices as well. The company you choose impacts which solar panel brands you have access to.
  • Installation Process: Get details from your solar company about the installation process and what to expect, including when the site survey will be completed and how long it will take.
  • Reputation: Solar panel companies that have great reviews from their customers and that have been operating for many years likely offer high-quality solar panel installation and expertise.
  • Contract: It's important to read through your solar installer's contract thoroughly to understand what services they will provide, what the warranty covers and what expectations you should have about the installation process.

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Solar Financing

Blue Raven Solar

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries (coming 2022)

Best Technology

Tesla Energy

★★★★★
4.5

  • Price-match guarantee
  • Sleek, efficient, and durable solar panels
  • Best solar battery on the market
  • Some reported issues with customer service
  • Customer service varies by local dealer

EcoWatch's Lake Bluff, IL Solar Cost FAQs

What is the average cost of installing solar panels in Lake Bluff?

This is a tough question to answer exactly, because the cost depends on a few different 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 additional solar equipment or more efficient panels, or if you have above-average energy needs. On the flip side, you can spend less if you want a smaller solar panel system or cheaper solar panels.

Should I lease or buy solar panels in Lake Bluff?

Leasing solar panels can be an attractive choice, as it typically 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.

Is it worth going solar in Lake Bluff?

Whether or not solar panels are worth it depends on some different factors like local electricity rates and how much direct sunlight your roof gets.

How long do solar panels last in Lake Bluff?

On average, solar panels can last 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 higher 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.

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