Solar Panel Cost Guide in Morton Grove, IL (2023 Update)
- Morton Grove Solar Installation Cost: $12,211
- 25-Year Savings: $10,400
- Payback Period: 13.5 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated September 15, 2023
Why you can trust EcoWatch
Average Cost of Solar Panels in Morton Grove
Find out what the average cost of installing solar panels is in Morton Grove.
In Morton Grove, solar panels cost about 2.73 per watt on average. To account for the typical energy usage of the average home in Morton Grove, most homeowners require a 6.4-kilowatt system. Using the figure above, a solar installation costs about $12,211, or $17,462 before the federal solar tax credit of 30% is applied.
The prices above are just estimates to give you an idea of how much a solar energy system could cost. The actual cost of installing solar panels can vary based on a few factors, such as what size system you need, your energy consumption and what installation company you go with. With average savings of about $13,000 on energy bills over 20 years, many homeowners in Morton Grove find going solar can pay off big.
To receive a free estimate from a top solar installation company in Morton Grove, you can click the button below.
Solar savings over time in Morton Grove
| Year | Return on Investment |
|---|---|
| 1 years | $-12,136 |
| 3 years | $-11,985 |
| 5 years | $-11,834 |
| 7 years | $-11,684 |
| 9 years | $-11,533 |
| 11 years | $-11,382 |
| 13 years | $-11,231 |
| 15 years | $-11,081 |
| 17 years | $-10,930 |
| 19 years | $-10,779 |
| 21 years | $-10,629 |
| 23 years | $-10,478 |
| 25 years | $-10,327 |
Top Solar Installers in Morton Grove
Many homeowners choose to hire a solar panel company since figuring out how to install solar panels on your own can be time-consuming. Another perk of using a solar company is that they can help you make the most of your ROI by bringing down your future costs of repairs and replacements because of warranties and helping you learn about local incentives you can take advantage of.
If you're searching for a solar company in Morton Grove, we've put together 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
See all of the solar companies in Morton Grove
Factors that Affect Solar Panel Costs in Morton Grove
Although the average cost of a solar system in Morton Grove is $12,211, your final cost may be above or below the average. There are quite a few factors that can have a sizable impact on the cost of a solar system installation. Below are some of the more crucial things to keep in mind.
Solar Equipment
When it comes to estimating the cost of a solar panel system in Morton Grove, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home's energy consumption, which you can figure out by looking at past electricity bills. Your overall cost can increase by around $2,730 for each additional kilowatt you need. Some solar panel brands — like Maxeon from SunPower — cost more upfront but also tend to offer higher efficiency. In a city like Morton Grove, where sunlight is relatively abundant, efficiency can quickly pay off. In addition, if you have a small roof or you don't have a lot of space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Solar panels can save you money on utility bills over time, but they can also be a big investment. That's why many Morton Grove homeowners choose to finance their solar panel systems to make paying for solar more affordable. While solar loans make going solar more accessible for Morton Grove homeowners, they can also increase the total you pay for your system, depending on your interest rate. If you put down a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The solar installation company you pick will influence your total cost to adopt solar energy. Different companies will bill different amounts for the equipment and labor. Larger national companies typically have lower costs, but some local companies compete with them by offering sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or add-on services like electric vehicle 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 | $9,307 | 14.0 years |
| 8 kW | $2.78 | $15,594 | $12,715 | 13.8 years |
| 10 kW | $2.73 | $19,110 | $16,276 | 13.5 years |
| 12 kW | $2.68 | $22,473 | $19,990 | 13.2 years |
| 14 kW | $2.62 | $25,684 | $23,856 | 13.0 years |
| 16 kW | $2.57 | $28,741 | $27,876 | 12.7 years |
| 18 kW | $2.51 | $31,646 | $32,048 | 12.4 years |
| 20 kW | $2.46 | $34,398 | $36,374 | 12.2 years |
How to Save on Solar Panels
Since the model of solar panels and the installer you choose significantly affects your costs and your system's durability and efficiency, it's important to select the right ones for you. Here are some tips to keep in mind to help with your decision:
- Reputation: Make sure your solar system installer has a good reputation by verifying it has certifications and licenses, checking how long it's been in business and reading reviews by past customers and solar experts like the EcoWatch team.
- Contract: It's important to read through your solar installer's contract closely to understand what services they will provide, what the warranty covers and what you can expect about the installation process.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their roof configurations and how much efficiency they need. While there are many options for which type of solar panel you can get, not every company will have access to the exact one you may want or need, so make sure you peruse their list of offerings before making your decision.
- Warranty: A quality company stands out from other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Morton Grove, IL Solar Cost FAQs
What is the average cost of installing solar panels in Morton Grove?
This is a difficult question to answer precisely, 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. You can expect to pay more if you want other solar equipment or higher quality panels, or if you have above-average energy consumption. On the other hand, you can spend less if you go with a smaller solar panel system or cheaper solar panels.
Are solar panels free in Morton Grove?
A solar panel system isn't free in Morton Grove, but there are some options that can make getting them more viable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can further reduce the cost.
How much can I save on power bills after switching to solar?
It is possible to eliminate your electricity bills with solar panels, but for most homeowners in Morton Grove, that will require at least a 10-kW system. Not all homes will have roofs that can accommodate that size system, so you'll want to check with a local solar installer to see how many panels can fit on your roof.
How long do solar panels last in Morton Grove?
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 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.