Solar Panel Cost Guide in Litchfield, IL (2024 Update)
- Litchfield Solar Installation Cost: $16,306
- 25-Year Savings: $18,049
- Payback Period: 13.6 Years
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Average Cost of Solar Panels in Litchfield
Let’s have a look at the average cost of solar in Litchfield.
In Litchfield, solar panels cost about 4 per watt on average.The average Litchfield homeowner needs a 6.2-kilowatt system, which would cost about $16,306 with the federal tax credit, or $23,318 before the 0 tax credit is applied.
The prices above are just estimates to give you an idea of the cost of solar panels. The exact cost of making the switch to solar can vary based on several factors, such as what size system you need, your energy usage and what installation company you go with.For many homeowners, the upfront investment in solar is worth paying. On average homeowners in Litchfield see about $18,000 in savings on electricity bills over 20 years.
For a personalized quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Litchfield
| Year | Return on Investment |
|---|---|
| 1 years | $-15,455 |
| 3 years | $-13,754 |
| 5 years | $-12,053 |
| 7 years | $-10,352 |
| 9 years | $-8,650 |
| 11 years | $-6,949 |
| 13 years | $-5,248 |
| 15 years | $-3,546 |
| 17 years | $-1,845 |
| 19 years | $-144 |
| 21 years | $1,557 |
| 23 years | $3,259 |
| 25 years | $4,960 |
Top Solar Installers in Litchfield
Installing solar panels yourself can be a dangerous task, which is why using a solar installer is a good option for many homeowners. Local solar installation companies can also help you optimize your return on investment by walking you through any local incentives you can benefit from and by providing warranties and repairs.
If you're on the hunt for a solar company in Litchfield, the EcoWatch team has organized a list of our top suggestions here:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
Best Technology
Tesla Energy
- 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 Litchfield
Factors that Affect Solar Panel Costs in Litchfield
There are several criteria that can influence your total installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that performs the installation.
Solar Equipment
One of the most important 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 consumes, the larger your system will likely need to be. You can expect to pay around $3,760 per kilowatt in Litchfield.Some solar brands — like Maxeon from SunPower — cost more upfront but also tend to offer better efficiency. In a city like Litchfield, where sunlight is relatively abundant, efficiency can quickly pay off. Plus, if you have a small roof or limited 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
Many homeowners find the average cost of solar in Litchfield to be too steep, even if the investment pays off over time. Thankfully, nearly every solar installer in the area offers financing options. Solar loans greatly decrease upfront costs for most homeowners, but they also lead to higher prices over time due to interest.When trying to figure out your overall cost, you should also calculate the interest you’ll pay if you choose to go with a solar loan. Also, paying more upfront can lower the total interest paid over time.
Solar Panel Installation Company
The solar panel installer you pick will play a role in your total cost to make the switch to solar power. Different companies will charge different amounts for the equipment and labor.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 prices because of access to more 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 promotion can bring their pricing down to compete with bigger names.
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 | $12,522 | 14.2 years |
| 8 kW | $3.84 | $21,477 | $17,117 | 13.9 years |
| 10 kW | $3.76 | $26,320 | $21,923 | 13.6 years |
| 12 kW | $3.68 | $30,952 | $26,939 | 13.4 years |
| 14 kW | $3.61 | $35,374 | $32,166 | 13.1 years |
| 16 kW | $3.53 | $39,585 | $37,603 | 12.8 years |
| 18 kW | $3.46 | $43,586 | $43,251 | 12.5 years |
| 20 kW | $3.38 | $47,376 | $49,110 | 12.3 years |
How to Save on Solar Panels
The solar panel company you opt for will influence not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are several important things you should keep in mind, such as:
- Warranty: Warranties that provide coverage for defective panels and repairs over around 25 years are the best you can get in the business, and offering that kind of warranty is one sign of a quality company.
- Installation Process: When making the switch to solar power, it’s essential to maintain an open line of communication with your solar panel installer. Make sure you understand how the installation process works and the completion timeline.
- Contract: Read the contract terms carefully to make sure you understand how much it will cost, completion timeline incentives and warranties.
- Reputation: Make sure your solar system installer has a good reputation by verifying it has certifications and licenses, checking its number of years in business and reading reviews by past customers and solar experts like the EcoWatch team.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
Best Technology
Tesla Energy
- 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 Litchfield, IL Solar Cost FAQs
How much does it cost to install solar panels in Litchfield?
This is a difficult question to answer precisely, because the cost depends on many 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 cost more if you want additional solar equipment or higher quality panels, or if you have higher-than-average energy needs. Conversely, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.
Is it better to lease or buy solar panels in Litchfield?
Leasing solar panels can be an option if you can’t pay upfront or get a solar loan, but since you don’t own the system, you can’t take advantage of many solar incentives. Also your property value won’t increase, so you’ll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most savings from going solar.
Is making the switch to solar worth it?
Solar panels can be a fruitful investment for most homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your power bills are already reasonably low, solar panels might not be for you.
How long do solar panels last in Litchfield?
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 larger 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.