Solar Panel Cost Guide in Lombard, IL (2023 Update)
- Lombard Solar Installation Cost: $12,486
- 25-Year Savings: $10,126
- Payback Period: 13.8 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Lombard
Let's take a look at the average cost of solar in Lombard.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Lombard, the typical cost of solar panels is 2.73 per watt. The average Lombard homeowner needs a 6.5-kilowatt system, which would cost about $12,479 with the federal tax credit, or $17,845 before the 30% tax credit is applied.
These figures are only averages, and your own solar costs may look different based on the amount of energy your home requires and what company you go with. For most homeowners, the upfront cost of solar power is worth paying. On average Lombard homeowners see about $13,000 in savings on electricity bills over 20 years.
You can click the button below to get connected with a top solar installer in Lombard that can help you get a more accurate cost estimate for your home.
Solar savings over time in Lombard
| Year | Return on Investment |
|---|---|
| 1 years | $-11,329 |
| 3 years | $-9,017 |
| 5 years | $-6,705 |
| 7 years | $-4,392 |
| 9 years | $-2,080 |
| 11 years | $232 |
| 13 years | $2,545 |
| 15 years | $4,857 |
| 17 years | $7,169 |
| 19 years | $9,482 |
| 21 years | $11,794 |
| 23 years | $14,107 |
| 25 years | $16,419 |
Top Solar Installers in Lombard
DIY solar panel installation is a possibility, but it's an undertaking that can be a pain. Going with a solar company can make your swap to solar power much easier. Companies can also offer access to various kinds of the best solar panels and help you decide which one will be right for your home.
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 in Lombard:
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 Lombard
Factors that Affect Solar Panel Costs in Lombard
Even though the average cost of a solar system in Lombard is $12,479, your final cost may differ. There are many factors that can have a significant impact on the cost of a solar system installation. Below are some of the more crucial things to consider.
Solar Equipment
One of the most important factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more power your household consumes, the larger your system will likely need to be. You can expect to spend around $2,730 per kilowatt in Lombard. There are several different solar panel brands and the one you choose also affects the cost. In general, the brands that are more efficient tend to also cost more. Additionally, the type of equipment you want to install 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
If paying for solar panels out of pocket is out of reach, solar loans are an affordable choice because they cut back your upfront costs and let you pay for your system over a term of, on average, between five and seven years. It's wise 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
Finally, the company you opt for to install your solar panels can affect how much you pay. Lombard's solar companies all have different labor costs and add varying upcharges to equipment. The size of the company sometimes plays the most significant role in your total costs. Larger national companies, like SunPro and Sunrun, often have lower prices because of greater resources and bulk 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 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 | $8,840 | 14.4 years |
| 8 kW | $2.78 | $15,594 | $12,093 | 14.1 years |
| 10 kW | $2.73 | $19,110 | $15,498 | 13.8 years |
| 12 kW | $2.68 | $22,473 | $19,057 | 13.5 years |
| 14 kW | $2.62 | $25,684 | $22,768 | 13.3 years |
| 16 kW | $2.57 | $28,741 | $26,632 | 13.0 years |
| 18 kW | $2.51 | $31,646 | $30,649 | 12.7 years |
| 20 kW | $2.46 | $34,398 | $34,819 | 12.4 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you find the right company for you, here are some tips to keep in mind:
- Reputation: Solar installers that have great reviews from their customers and that have been operating for many years in most cases provide good-quality solar panel installation and expertise.
- Contract: It's important to look over 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.
- Installation Process: Make sure you're on the same page with the company in regard to how the installation process will go and what needs to be done before your solar panels are installed, such as repairing your electrical system or roof.
- Solar Panel Brands: Different companies will carry various brands and kinds of panels. If you know you want a specific brand, make sure the solar company you're considering has it.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Lombard, IL Solar Cost FAQs
What is the average cost of installing solar panels in Lombard?
This is a tough 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 additional solar equipment or more efficient panels, or if you have above-average energy needs. Conversely, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.
What other factors should I consider aside from cost when buying solar panels?
The upfront cost is a key factor to consider, but whether it's the most important for you depends on your reasons for going solar. In places where rooftop space is limited, efficiency can trump the cost. Other factors that are important to keep in mind are the quality and durability of your solar panels.
Do solar panels increase your home value?
Installing solar panels on your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Lombard is currently $318,783, which means you can look forward to a value of about $13,070 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Lombard is a rewarding investment.
How often do you have to replace solar panels?
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.