Solar Panel Cost Guide in Ludlow, IL (2025 Update)
- Ludlow Solar Installation Cost: $16,614
- 25-Year Savings: $13,998
- Payback Period: 15.9 Years
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Average Cost of Solar Panels in Ludlow
See how much it might cost to switch to solar power in Ludlow.
Although the national average of solar panels is $2.66 per watt, solar panels in Ludlow typically cost around 4.To cover the typical energy usage of the average home in Ludlow, most homeowners require a 6.3-kilowatt system. Using the per-watt figure above, a solar installation costs about $16,614, or $23,758 before the federal solar tax credit of 0 is applied.
The prices above are just estimates to give you an idea of the cost of a solar panel system. The true cost of installing solar panels can vary depending on a few factors, such as how many panels you need, your energy usage and what solar installer you go with.Many homeowners find installing a solar panel system is a rewarding investment. The average homeowner in Ludlow can save around $16,000 on their electricity bills over 20 years.
To get a free estimate from a highly rated solar company in Ludlow, you can click the button below.
Solar savings over time in Ludlow
| Year | Return on Investment |
|---|---|
| 1 years | $-15,763 |
| 3 years | $-14,062 |
| 5 years | $-12,361 |
| 7 years | $-10,659 |
| 9 years | $-8,958 |
| 11 years | $-7,257 |
| 13 years | $-5,556 |
| 15 years | $-3,854 |
| 17 years | $-2,153 |
| 19 years | $-452 |
| 21 years | $1,250 |
| 23 years | $2,951 |
| 25 years | $4,652 |
Top Solar Installers in Ludlow
Installing solar panels yourself can be a challenging project, which is why hiring a solar installer is a good option for many homeowners. The payback period of solar panels will vary depending on factors like your location and energy consumption, but working with a solar installer can shorten that period. Your provider will be able to help you get the most out of incentives available in your area.
There are a number of 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
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
See all of the solar companies in Ludlow
Factors that Affect Solar Panel Costs in Ludlow
Cost is usually one of the most important factors for homeowners considering investing in solar. There are a few key factors that affect your total cost in Ludlow: solar equipment and system size, financing options and the solar installation company you choose. We’ll discuss each of these briefly below.
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 electricity your household consumes, the larger your system will likely need to be. You can expect to spend about $3,760 per kilowatt in Ludlow.There are several different solar panel brands and the one you pick also changes the cost. Generally speaking, the brands that offer higher efficiency tend to also cost more. Plus, the type of equipment you choose 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 a solar system out of pocket is difficult, solar loans are a popular option because they lower your upfront costs and let you pay for your system over a term of, on average, between five and seven years.However, the interest on solar loans also adds to your all-in costs, so it’s important to include that in your estimate as well. You can always reduce the total you pay in interest and possibly even your APR by putting more money down.
Solar Panel Installation Company
The last major cost factor you should keep in mind is the installer you choose. Given the booming popularity of renewable energy solutions in Ludlow, you’ll have many options to choose from, but each comes at various price points for labor and equipment.You may see national solar installers that have lower prices because of their bigger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or specials to compete with those larger companies.
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 | $8,348 | 16.6 years |
| 8 kW | $3.84 | $21,477 | $11,551 | 16.3 years |
| 10 kW | $3.76 | $26,320 | $14,966 | 15.9 years |
| 12 kW | $3.68 | $30,952 | $18,590 | 15.6 years |
| 14 kW | $3.61 | $35,374 | $22,426 | 15.3 years |
| 16 kW | $3.53 | $39,585 | $26,472 | 15.0 years |
| 18 kW | $3.46 | $43,586 | $30,728 | 14.7 years |
| 20 kW | $3.38 | $47,376 | $35,195 | 14.3 years |
How to Save on Solar Panels
The solar installer you opt for will be a major factor in determining not only your overall 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 consider, such as:
- Solar Panel Brands: The type of solar panel you want to install plays a part in which installer you should choose, since different companies have access to different panels.
- Reputation: Your solar installer should have a good reputation as a company and have proven expertise in the field. A couple of ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has good reviews from past customers.
- Contract: Before signing a contract with a solar installer, be sure to read it through carefully so you understand the terms. Also, ask questions if you aren’t sure about some of the terms, such as what the warranty covers and if there are any guarantees about energy production.
- Installation Process: Homeowners should make sure they know how exactly the installation process will be carried out, as well as important factors like the completion timeline.
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
EcoWatch's Ludlow, IL Solar Cost FAQs
What is the average cost of installing solar panels in Ludlow?
The average cost of solar panels in Ludlow is about $18,800 for a 5-kW system and $37,600 for a 10-kW system before the ITC, but the real cost will depend on things such as the model of solar panels you want, what size system you need and how much energy you consume.
Should I lease or buy solar panels in Ludlow?
Leasing solar panels can be an attractive choice, because 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 incentives and your home value won’t increase. Buying solar panels is a better way to go if you want to maximize your savings.
Can you sell solar power back to the grid in Ludlow?
The majority of states offer net metering programs of some kind. Through these, you can get paid for the extra power your system produces or or receive credits to put toward future utility bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.
How long do solar panels last in Ludlow?
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 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.