Solar Panel Cost Guide in New Trier, IL (2025 Update)
- New Trier Solar Installation Cost: $16,818
- 25-Year Savings: $11,780
- Payback Period: 17.5 Years
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Average Cost of Solar Panels in New Trier
Find out what the average cost of installing solar panels is in New Trier.
The national average cost of solar panels is $2.66 per watt, but in New Trier it’s 4 per watt.The average solar panel system size in New Trier is around 6.4 kilowatts, meaning a cost of about $16,818 for a solar installation, or $24,050 before the 0 federal solar tax credit is applied.
The prices above are just estimates to give you an idea of the cost of a solar energy system. The exact cost of installing solar panels can vary quite a bit depending on multiple factors, such as what size system you need, your energy consumption and what solar installer you go with.But, once you've paid the upfront cost of installation, the savings for most homeowners is quite good, with a net average savings of about $14,000 over 20 years on electricity bills.
To calculate your potential ROI and connect with a local solar expert, click the button below.
Solar savings over time in New Trier
| Year | Return on Investment |
|---|---|
| 1 years | $-15,662 |
| 3 years | $-13,350 |
| 5 years | $-11,038 |
| 7 years | $-8,725 |
| 9 years | $-6,413 |
| 11 years | $-4,100 |
| 13 years | $-1,788 |
| 15 years | $524 |
| 17 years | $2,837 |
| 19 years | $5,149 |
| 21 years | $7,461 |
| 23 years | $9,774 |
| 25 years | $12,086 |
Top Solar Installers in New Trier
When making the switch to solar, many homeowners opt to go with a solar installer since handling can be a difficult project. The payback period on a solar system will vary depending on factors like your location and energy usage, but working with a solar installer can shorten it. Your provider will be able to help you apply for incentives available in your area.
If you're searching for a solar installer in New Trier, we've compiled a list of our top suggestions here:
See all of the solar companies in New Trier
Factors that Affect Solar Panel Costs in New Trier
There are many criteria that can play into your installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar system.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of installing solar panels. Because of that, it’s a priority to accurately assess the size of the solar energy system needed for your home by figuring out your average energy use.The kind of solar panels and equipment you get is another factor that will significantly influence costs. Solar panels that are more efficient, like monocrystalline panels, tend to come at a higher price. Plus, solar equipment goes beyond just the solar panels themselves. You’ll also need to think about the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when looking for a solar system that’s in your budget.
Solar Financing Terms
Many homeowners find the average cost of solar in New Trier to be too costly, even if the investment pays off over time. Fortunately, almost every solar installer in the area provides access to financing options. Solar loans remarkably decrease upfront costs for most homeowners, but they also result in higher prices over time because of interest.However, the interest on solar loans also adds to your all-in costs, so it’s vital to consider that as well. You can always lower the total you pay in interest and in some cases even your APR by putting more money down.
Solar Panel Installation Company
Lastly, the company you choose to install your solar panel system can play a role in determining how much you pay. New Trier’s solar companies all have different labor costs and add varying upcharges to equipment. You may come across national solar installers that have lower prices due to their bigger brand name and access to bulk equipment prices, or you might see small, local installation companies offering deals or promotions to compete with those larger 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 | $6,103 | 18.2 years |
| 8 kW | $3.84 | $21,477 | $8,559 | 17.9 years |
| 10 kW | $3.76 | $26,320 | $11,225 | 17.5 years |
| 12 kW | $3.68 | $30,952 | $14,101 | 17.2 years |
| 14 kW | $3.61 | $35,374 | $17,189 | 16.8 years |
| 16 kW | $3.53 | $39,585 | $20,486 | 16.5 years |
| 18 kW | $3.46 | $43,586 | $23,995 | 16.1 years |
| 20 kW | $3.38 | $47,376 | $27,714 | 15.8 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you decide on the right company for you, here are some tips to keep in mind:
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and how much efficiency they need. Although there are many options for which model 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 take a look at their list of options before deciding.
- Warranty: A high-quality company rises above other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Contract: Before signing a contract with a solar installer, be sure to read it through fully so you understand the terms. Also, ask questions if you’re not sure about some of the terms, such as what to do if a part breaks or malfunctions and if there are any guarantees about energy production.
- Installation Process: Make sure you’re aligned with the company with regard to how the installation process will go and what you need to do before your solar panels are installed, such as updating your electrical system or roof.
EcoWatch's New Trier, IL Solar Cost FAQs
How much does it cost to install solar panels in New Trier?
The average cost of solar panels in New Trier 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 certain factors 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?
The upfront cost is a key factor to consider, but whether it’s the most important for you depends on your reasons for going solar. In cities where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to think about are the quality and durability of your solar panels.
Is it worth going solar in New Trier?
Solar panels can be a fruitful investment for most homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your power bills are already fairly low, solar panels might not be for you.
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 larger 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.