Solar Panel Cost Guide in Nameoki, IL (Mar 2023)
- Nameoki Solar Installation Cost: $11,695
- 25-Year Savings: $8,135
- Payback Period: 14.7 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated March 14, 2023
Why you can trust EcoWatch
Average Cost of Solar Panels in Nameoki
We go over average solar pricing in Nameoki.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Nameoki, the typical cost of a solar system is 2.73 per watt. Using this figure, a typical 6.1-kW system would cost about $11,695 before the 30% federal solar tax credit is applied.
Bear in mind that the figures above are only estimates based on the average Nameoki homeowner. The cost 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, after you've paid the initial cost of installation, the savings for most homeowners is usually good, with a net average savings of about $12,000 over 20 years on energy bills.
For a free quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Nameoki
| Year | Return on Investment |
|---|---|
| 1 years | $-10,902 |
| 3 years | $-9,316 |
| 5 years | $-7,729 |
| 7 years | $-6,143 |
| 9 years | $-4,556 |
| 11 years | $-2,970 |
| 13 years | $-1,384 |
| 15 years | $203 |
| 17 years | $1,789 |
| 19 years | $3,376 |
| 21 years | $4,962 |
| 23 years | $6,549 |
| 25 years | $8,135 |
Top Solar Installers in Nameoki
Many homeowners decide to use a solar installer since installing solar panels by yourself can be a lot of work. Plus, if you aren't sure what kind of solar panels and equipment you need, a solar installer can help you find the right equipment for you after a site survey and consultation.
Working with a licensed solar company can make going solar easier. Here are our recommendations:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
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 Nameoki
Factors that Affect Solar Panel Costs in Nameoki
The cost of installing a solar system in Nameoki can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The most significant one is the size of the system your household needs, and other factors include equipment choices, financing options and the solar company you choose.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more power your household uses, the larger your system will likely need to be. You can expect to pay around $2,730 per kilowatt in Nameoki. The solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you get the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. However, higher efficiency could save you more over time on your power bills. In addition, extra products, such as solar batteries, can bring your total well above the Nameoki average.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be difficult. Solar loans are provided by most installers in Nameoki, which can bring down, or in some cases totally eliminate, your upfront costs to make solar more affordable. 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
The final significant cost factor you should consider is the installer you choose. Given the booming popularity of clean energy solutions in Nameoki, you'll have lots of options to choose from, but each comes at varying price points for labor and equipment. Companies that only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally cost more. It's best to do some research and find a company that provides the products, warranties and services you want 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 | $2.84 | $11,925 | $7,525 | 15.3 years |
| 8 kW | $2.78 | $15,594 | $10,339 | 15.0 years |
| 10 kW | $2.73 | $19,110 | $13,306 | 14.7 years |
| 12 kW | $2.68 | $22,473 | $16,426 | 14.4 years |
| 14 kW | $2.62 | $25,684 | $19,698 | 14.1 years |
| 16 kW | $2.57 | $28,741 | $23,124 | 13.9 years |
| 18 kW | $2.51 | $31,646 | $26,702 | 13.6 years |
| 20 kW | $2.46 | $34,398 | $30,434 | 13.3 years |
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because picking a company can be a tough decision, we have some tips to help you, such as:
- Solar Panel Brands: Not all solar companies offer the same brands of solar panels, so the brand and type of panel you want can play a considerable role in the company you choose.
- Reputation: Solar installers that have great reviews from their customers and that have been in business for many years in most cases offer high-quality solar panel installation and expertise.
- Warranty: A comprehensive, long-term warranty can help keep your solar system running for years to come and save you money on part replacement and repairs.
- Contract: Read the contract terms closely to make sure you understand how much it will cost, completion timeline incentives and warranties.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
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 Nameoki, IL Solar Cost FAQs
How much does it cost to install solar panels in Nameoki?
The average cost of solar panels in Nameoki is about $13,650 for a 5-kW system and $27,300 for a 10-kW system before the ITC, but the actual cost will depend on things such as the kind of solar panels you want, what size system you need and how much energy you consume.
What other factors should I consider other than cost when buying solar panels?
Cost is definitely one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Is making the switch to solar worth it?
Whether or not solar panels are worth it depends on some different factors like local electricity rates and how much direct sunlight your roof gets.
How long do solar panels last in Nameoki?
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.