Solar Panel Cost Guide in Niles, IL (Jan 2023)

  • Niles Solar Installation Cost: $12,211
  • 25-Year Savings: $10,400
  • Payback Period: 13.5 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated January 20, 2023

Why you can trust EcoWatch

We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Niles

Here's how much it might cost to make the switch to solar in Niles.

The national average cost of solar panels is $2.66 per watt, but in Niles it's $3 per watt. To cover the typical energy needs of the average home in Niles, most homeowners require a 6.4-kilowatt system. Using the figure above, a solar installation costs about $12,211, or $9,036 after the federal solar tax credit of 30% is applied.

The true cost of your system can be above or below the average in Niles depending on several factors, such as the type of solar panels you choose and the solar contractor you hire. For most homeowners, the upfront cost of solar panels is worth paying. On average Niles homeowners see about $13,000 in savings on electricity bills over 20 years.

To receive a free estimate from a pre-vetted solar installation company in Niles, you can click the button below.

Solar savings over time in Niles

Year Return on Investment
1 years $-11,307
3 years $-9,498
5 years $-7,689
7 years $-5,880
9 years $-4,071
11 years $-2,262
13 years $-453
15 years $1,356
17 years $3,165
19 years $4,974
21 years $6,783
23 years $8,592
25 years $10,400

Top Solar Installers in Niles

Many homeowners opt for a solar installation company since trying to put up solar panels by yourself can be time-consuming. Another great thing about choosing a reliable solar installer is that it'll likely provide warranties and free repairs, which help protect your investment.

There are several licensed solar professionals that can install solar panels for you. Here are our suggestions:

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 Niles

Factors that Affect Solar Panel Costs in Niles

The cost of installing a solar system in Niles can vary by more than $10,000 from home to home. Your actual cost is dependent on 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

The size of the solar system you need to offset your energy usage, 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 nearly $2,730. The brand of solar panels and equipment you want is another factor that will considerably influence costs. Solar panels that are more efficient, like monocrystalline panels, tend to cost more. Furthermore, solar equipment is more than just the solar panels themselves. You'll also need to consider the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when searching for a solar system that falls within your budget.

Solar Financing Terms

Many homeowners find the average cost of solar in Niles to be prohibitively steep, even if the investment pays off over time. Fortunately, nearly every solar company in the area offers financing options. Solar loans remarkably decrease upfront costs in most cases, but they also result in paying more over time because of interest. While solar loans make going solar more accessible for Niles homeowners, they can also add to the total you pay for your system due to interest. If you make a larger down payment, though, you can cut back on how much interest you have to pay.

Solar Panel Installation Company

The solar company you choose to handle your switch to sustainable energy can play a part in your total costs. There are about 3 solar panel companies in Niles, and each can charge different amounts for labor and equipment. You may notice national solar installers that have lower prices due to their bigger brand name and access to bulk pricing, 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 $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 kind of solar panels and the installer you choose has an impact on your costs and your system's efficiency, production, and durability, it's important to pick the right ones for you. Here are some things to keep in mind to help with your decision:

  • Installation Process: Make sure you're aligned with the company with regard to how the installation process will go and what needs to be done before your solar panel system is installed, such as updating or replacing your electrical system or roof.
  • Contract: Look through the contract terms closely to make sure you understand how much it will cost, completion timeline incentives and warranties.
  • Solar Panel Brands: The kind of solar panel you'd like plays a role in which company you should opt for, since different companies provide different panels.
  • Reputation: Solar installers that have great reviews from their customers and that have been operating for many years most likely provide quality solar panel installation and expertise.

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 Niles, IL Solar Cost FAQs

How much does it cost to install solar panels in Niles?

The average cost of solar panels in Niles 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 stuff like the kind of solar panels you want, what size system you need and how much energy you consume.

What other factors should I consider in addition to cost when buying solar panels?

Cost is definitely one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.

How much can I save on power bills after installing solar panels?

It is possible to erase your electricity bills with solar panels, but for most homeowners in Niles, 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 Niles?

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.

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.

Follow us