Solar Panel Cost Guide in Nameoki, IL (2025 Update)
- Nameoki Solar Installation Cost: $16,101
- 25-Year Savings: $8,140
- Payback Period: 20.3 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Why you can trust EcoWatch
Average Cost of Solar Panels in Nameoki
Here’s how much it might cost to switch to solar power in Nameoki.
The national average cost of solar panels is $2.66 per watt, but in Nameoki it’s 4 per watt.The average Nameoki homeowner needs a 6.1-kilowatt system, which would cost about $16,101 with the federal tax credit, or $23,024 before the 0 tax credit is applied.
These figures are only averages, and the cost of going solar for you will most likely differ based on your specific situation and what company you choose to go with.With average savings of about $12,000 on energy bills over 20 years, many homeowners in Nameoki find installing solar panels can pay off big.
To receive a free quote from a highly rated solar company in Nameoki, you can click the button below.
Solar savings over time in Nameoki
| Year | Return on Investment |
|---|---|
| 1 years | $-15,250 |
| 3 years | $-13,549 |
| 5 years | $-11,848 |
| 7 years | $-10,147 |
| 9 years | $-8,445 |
| 11 years | $-6,744 |
| 13 years | $-5,043 |
| 15 years | $-3,341 |
| 17 years | $-1,640 |
| 19 years | $61 |
| 21 years | $1,763 |
| 23 years | $3,464 |
| 25 years | $5,165 |
Top Solar Installers in Nameoki
DIY solar panel installation is a way to cut costs, but it's an undertaking that can take a lot of hard work. Hiring a solar panel installer can make swapping over to solar power much easier. Companies can also provide access to a large variety of the best solar panels and help you decide which one will be best for your home.
If you’d like to switch to solar energy but still aren’t sure which solar system installer to go with, here are our suggestions for providers in Nameoki:
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 Nameoki
Factors that Affect Solar Panel Costs in Nameoki
Cost is usually one of the most important factors for homeowners wanting to invest in solar. There are a few primary factors that will push your cost above or below the average in Nameoki: solar equipment and system size, financing options and the solar installation company you choose. We’ll cover each of these briefly below.
Solar Equipment
One of the most significant 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 energy your household consumes, the larger your system will likely need to be. You can expect to spend about $3,760 per kilowatt in Nameoki.Some solar panel brands — like Maxeon from SunPower — cost more upfront but also tend to offer better efficiency. In a city like Nameoki, where sunlight is relatively abundant, efficiency can quickly pay off. Plus, 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
Most solar installers in Nameoki have solar loans, which reduce the initial cost of installing a solar system.It’s wise to factor the interest you’ll pay in your final cost estimate. If you can afford to pay a higher down payment, you can reduce your total costs and the amount of time it’ll take to pay off the loan.
Solar Panel Installation Company
The last significant cost factor you should consider is the installer you choose. Given the booming popularity of sustainable energy solutions in Nameoki, you’ll have a great number of options to choose from, but each comes at different price points for labor and equipment.The size of the company can sometimes play the most significant role in the cost of installation. Larger national companies, like SunPro and Sunrun, often have lower pricing because they have access to more resources and better pricing. Smaller local companies might be more costly, but they can sometimes 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 | $3.91 | $16,424 | $3,026 | 21.1 years |
| 8 kW | $3.84 | $21,477 | $4,456 | 20.7 years |
| 10 kW | $3.76 | $26,320 | $6,096 | 20.3 years |
| 12 kW | $3.68 | $30,952 | $7,947 | 19.9 years |
| 14 kW | $3.61 | $35,374 | $10,008 | 19.5 years |
| 16 kW | $3.53 | $39,585 | $12,280 | 19.1 years |
| 18 kW | $3.46 | $43,586 | $14,763 | 18.7 years |
| 20 kW | $3.38 | $47,376 | $17,456 | 18.3 years |
How to Save on Solar Panels
The solar panel company you go with will impact not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are some important things you should take into account, such as:
- Warranty: If you care about the endurance of your solar panel system, verifying that your installer offers a 25-year, all-inclusive warranty can help put you at ease.
- Installation Process: An important thing to understand when adopting solar power is the installation process itself. Be sure to align on any details you should know with your solar company, such as what permits you should acquire and what the project timeline is.
- Contract: Before you sign a contract with a solar company, be sure to read it through fully so you understand the terms. Also, ask questions if you’re not certain about some of the terms, such as what the warranty covers and if there are any guarantees about energy production.
- Solar Panel Brands: Not all solar installers 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 go with.
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 Nameoki, IL Solar Cost FAQs
What is the average cost of installing solar panels in Nameoki?
This is a tough question to answer exactly, because the cost depends on a few different factors. Broadly speaking, it costs about $18,800 for a 5-kW system and $37,600 for a 10-kW system after the ITC is applied. It will cost more if you want extra solar equipment or more efficient panels, or if you have above-average energy usage. On the flip side, you can spend less if you want a smaller solar panel system or less efficient solar panels.
Should I lease or buy solar panels in Nameoki?
Leasing solar panels can be an option if you can’t pay upfront or secure a solar loan, but since you don’t own the system, you can’t take advantage of many solar incentives. Also your property value won’t increase, so you’ll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most bang for your buck from going solar.
How will having solar panels impact my property value?
Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Nameoki is currently $84,733, so you can look forward to a value of about $3,474 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Nameoki is a rewarding investment.
How often do you have to replace solar panels?
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.