Solar Panel Cost Guide in Minooka, IL (2024 Update)
- Minooka Solar Installation Cost: $16,997
- 25-Year Savings: $10,271
- Payback Period: 18.8 Years
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Average Cost of Solar Panels in Minooka
Let’s have a look at the average cost of solar in Minooka.
The average cost of a solar system in Minooka is 4 per watt.The average Minooka homeowner needs a 6.5-kilowatt system, which would cost about $16,997 with the federal tax credit, or $24,306 before the 0 tax credit is applied.
Keep in mind that the figures above are only estimates based on the average energy use of Minooka homeowners. The price of a solar system for your home may look different depending on factors unique to you, like your household energy use and solar contractor.But, once you've paid the initial cost of installation, the return on investment for most homeowners is typically fruitful, with a net average savings of about $13,000 over 20 years on power bills.
Click the button below to get connected to a reputable solar panel company in your area for a personalized estimate.
Solar savings over time in Minooka
| Year | Return on Investment |
|---|---|
| 1 years | $-15,841 |
| 3 years | $-13,528 |
| 5 years | $-11,216 |
| 7 years | $-8,903 |
| 9 years | $-6,591 |
| 11 years | $-4,279 |
| 13 years | $-1,966 |
| 15 years | $346 |
| 17 years | $2,658 |
| 19 years | $4,971 |
| 21 years | $7,283 |
| 23 years | $9,595 |
| 25 years | $11,908 |
Top Solar Installers in Minooka
Many homeowners decide to hire a solar panel company since trying to install solar panels yourself can be time-consuming. Some solar companies, especially local ones, can help you take advantage of incentives in Minooka, therefore optimizing your ROI.
If you're on the hunt for a solar installer in Minooka, we've 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
See all of the solar companies in Minooka
Factors that Affect Solar Panel Costs in Minooka
Cost is usually one of the most important factors for homeowners wanting to invest in solar. There are a few major factors that will push your cost above or below the average in Minooka: solar equipment and system size, financing options and the solar installation company you choose. We’ll cover each of these briefly below.
Solar Equipment
The size of the solar panel system you need for your home, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by around $3,760. The brand and type of equipment you choose for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often come at a higher price than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have limited roof space or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to more savings over time. Plus, if you want extra equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Solar panels can save you money on utility bills over many years, but they can also be a significant investment. That’s why many Minooka homeowners decide to finance their solar panel systems to make paying for solar more affordable.However, the interest on solar loans also increases your overall costs, so it’s important to take that into consideration as well. You can always reduce the total you pay in interest and possibly even your APR by making a larger down payment.
Solar Panel Installation Company
The solar installer you hire to handle your switch to renewable energy can have an effect on your total costs. There are about 3 solar installation companies in Minooka, and each can charge varying amounts for labor and equipment.Some companies only sell high-efficiency and high-priced products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come with an above-average cost. It’s best to do some research and find a company that has the products, warranties and services you’re looking for and also fits within your budget.
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 | $4,585 | 19.5 years |
| 8 kW | $3.84 | $21,477 | $6,535 | 19.2 years |
| 10 kW | $3.76 | $26,320 | $8,695 | 18.8 years |
| 12 kW | $3.68 | $30,952 | $11,065 | 18.4 years |
| 14 kW | $3.61 | $35,374 | $13,647 | 18.0 years |
| 16 kW | $3.53 | $39,585 | $16,438 | 17.7 years |
| 18 kW | $3.46 | $43,586 | $19,441 | 17.3 years |
| 20 kW | $3.38 | $47,376 | $22,654 | 16.9 years |
How to Save on Solar Panels
The solar installer you go with 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 a few important things you should keep in mind, such as:
- Warranty: A high-quality company stands out from other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Installation Process: When going solar, it’s crucial to keep an open line of communication with your solar installer. See to it that you understand how the installation process works and the project timeline.
- Reputation: Companies that have been operating for many years likely have a high reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide quality aftercare and customer support, such as part repairs and replacements.
- Contract: Review the contract terms carefully to make sure you understand the total cost, project timeline incentives and warranties.
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 Minooka, IL Solar Cost FAQs
What is the average cost of installing solar panels in Minooka?
The average cost of solar panels in Minooka 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 stuff such as the type of solar panels you want, what size system you need and how much energy you use.
Can you get solar panels for free in Minooka?
You can’t get solar panels for free in Minooka. However, you may still be able to afford them on a lower budget. You can lease solar panels for a low upfront cost or, if you’d rather own your solar panels, you can finance them with a solar loan.
Does Minooka have a net metering program?
Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just give you credit toward your future electricity bills.
How many solar panels do I need to power my home?
To figure out how many solar panels you need, you need to know how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can generally produce about 250 to 400 watt-hours per hour, the average household will need 20 to 35 panels.
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.