Solar Panel Cost Guide in Nameoki, IL (Dec 2022)

  • Nameoki Solar Installation Cost: $11,695
  • 25-Year Savings: $8,135
  • Payback Period: 14.7 Years

See cost of a solar system near you:

EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 11/09/2022

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Average Cost of Solar Panels in Nameoki

We go over average solar pricing in Nameoki.

Although the national average of solar panels is $2.66 per watt, solar panels in Nameoki typically cost about $3. The average solar panel system size in Nameoki is around 6.1 kilowatts, meaning a cost of about $11,695 for a solar installation, or $8,654 after the 30% federal solar tax credit is applied.

How much you pay can go above or below the average in Nameoki depending on a few factors, such as the kind of solar panels you choose and the solar installer you hire. Many homeowners find installing solar panels is a rewarding investment. The average homeowner in Nameoki can save around $12,000 on their power bills over 20 years.

You can click the button below to get connected with a vetted solar company in Nameoki that can help you get a more accurate cost estimate for your home.

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

When switching to solar energy, many homeowners decide to go with a solar company since putting up a solar system yourself can be a time-consuming project. A solar installer can also help save you money over time by offering warranties, repairs and system component replacements.

You can work with a local solar installer to get a free estimate on the cost of solar panels for your home. Here are some nearby:

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Solar Financing

Blue Raven Solar

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries (coming 2022)

Best Technology

Tesla Energy

★★★★★
4.5

  • 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 dependent on several factors. The biggest one is the size of the system your home needs, and other factors include equipment choices, financing options and the solar company you choose.

Solar Equipment

The size of the solar energy system you need for your household, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by about $2,730. The brand and type of equipment you choose for your solar system can raise or lower the price quite significantly. If you prefer a trusted 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 can expect a higher equipment cost, but this can typically lead to greater 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

For some homeowners, paying for a solar system out of pocket can be challenging. Solar loans are provided by most installers in Nameoki, which can reduce, or in some cases totally eliminate, your upfront costs to make solar more accessible. You'll have to consider the long-term cost of loans, including the amount of interest you'll pay over the length of the loan. If you're only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or finding a solar loan with a low interest rate could reduce your costs considerably.

Solar Panel Installation Company

Finally, the company you get to install your solar system can affect your pricing. Nameoki's solar companies all have different labor costs and add varying upcharges to equipment. Larger national companies typically have lower costs, but some local companies undercut them by promoting 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 $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 solar panel company you go with will influence not only your total costs, but also the types of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are some important things you should consider, such as:

  • Contract: Although reading through a contract can take a lot of time, it's important to do it thoroughly so you can be sure you understand what services your solar company will provide and the terms of the warranty.
  • Solar Panel Brands: Each solar panel brand and model offers varying levels of quality, longevity and efficiency. They will come at different prices as well. The company you choose has an impact on which solar panel brands you have access to.
  • Reputation: Make sure your solar installer has a good reputation by verifying it has certifications and licenses, checking how long it's been in business and reading reviews by previous customers and solar experts like the EcoWatch team.
  • Warranty: Companies typically offer different kinds of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Solar Financing

Blue Raven Solar

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries (coming 2022)

Best Technology

Tesla Energy

★★★★★
4.5

  • 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 certain factors like the kind of solar panels you want, what size system you need and how much energy you use.

Is cost the most important thing to think about when buying solar panels?

Cost is without a doubt one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.

Does Nameoki have a net metering program?

The majority of states offer net metering programs of some kind. Through these, you can either be compensated for the extra power your system produces or or receive credits to put toward future electricity bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.

What solar power system size is right for my home?

The exact number of solar panels you need depends on your household energy consumption and the average daily sunlight your roof gets. You can take a look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to get between 20 and 35 panels to account for their typical energy usage.

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.

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