Solar Panel Cost Guide in Niles, IL (2024 Update)

  • Niles Solar Installation Cost: $16,818
  • 25-Year Savings: $10,400
  • Payback Period: 18.6 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated June 24, 2024

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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

We break down average solar pricing in Niles.

The national average cost of solar panels is $2.66 per watt, but in Niles it’s 4 per watt.Because a 6.4-kW system is needed to cover the energy consumption of a typical home in Niles, the average price of going solar will be about $16,818 after claiming the federal solar tax credit of 0.

The prices above are just estimates to give you an idea of how much solar panels could cost. The actual cost of making the switch to solar can vary depending on a few factors, such as how many panels you need, your energy usage and what installation company you go with.But, after you've paid the initial cost of installation, the payback for most homeowners is typically good, with a net average savings of about $13,000 over 20 years on utility bills.

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

YearReturn 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 Niles

Do-it-yourself solar panel installation is a way to cut costs, but it's an undertaking that can take a lot of hard work. Taking advantage of an installer can make your switch to solar power much easier. Because solar panels are exposed to rain, snow, hail and wind, depending on the climate, warranties and repairs from your solar company can help you get the most out of your investment in solar panels by avoiding potential costs down the line.

If you’d like to make the switch to solar but still aren’t certain which solar system installer to go with, here are our suggestions for providers nearby:

Best Solar Financing

Blue Raven Solar

★★★★★
4.5
  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries

Best for Leasing

Sunrun

★★★★★
4.0
  • Expansive service area
  • Many financing options
  • Some reported issues with customer service
  • Some reported issues with door-to-door sales

Best Technology

Tesla Energy

★★★★★
3.2
  • 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

There are a number of factors that can determine your installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that does the installation.

Solar Equipment

The cost of solar panels varies by thousands of dollars due to a variety of factors. One of the notable factors is the system size, which is measured in kilowatts (kW). Solar power systems that have higher efficiency or power generation need better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $3,760.The brand and type of equipment you choose for your solar system can raise or lower the price quite significantly. If you prefer a 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 will be looking at a higher equipment cost, but this can typically lead to greater savings over time. Plus, if you want add-ons like an electric vehicle charger or solar batteries, this will also raise the cost.

Solar Financing Terms

Most solar installers in Niles offer solar loans, which reduce your upfront costs of installing a solar system.It’s a good idea to add 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 how long it’ll take to pay off the loan.

Solar Panel Installation Company

A final factor to consider when trying to evaluate the cost of solar for your home or business in Niles is the company you get to install your solar panel system. As with choosing a company to build a deck or pool, for instance, there are plenty of solar installers that provide a range of services at different price points.Larger national companies generally have lower costs, but some local companies keep up with them by offering sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or add-on services like electric car charger installation, they might be cheaper overall.

Solar Panel Cost Data by System Size

System sizeCost per system wattSolar system cost25-Year savingsPayback period
6 kW$3.91$16,424$4,80819.3 years
8 kW$3.84$21,477$6,83219.0 years
10 kW$3.76$26,320$9,06618.6 years
12 kW$3.68$30,952$11,51118.2 years
14 kW$3.61$35,374$14,16617.9 years
16 kW$3.53$39,585$17,03217.5 years
18 kW$3.46$43,586$20,10917.1 years
20 kW$3.38$47,376$23,39616.7 years

How to Save on Solar Panels

The solar installer you go with will affect not only your overall 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 take into account, such as:

  • Solar Panel Brands: Homeowners will have different preferences for panels depending on their roof configurations and how much efficiency they need. While 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 be sure to peruse their list of offerings before making your decision.
  • Contract: Although reading through a contract can take a lot of time, it’s important to do it carefully so you can make sure you understand what services your solar company will provide and how part repairs and replacements will be handled.
  • Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for clean energy professionals. If your solar panel installer is NABCEP-certified, it likely has a solid reputation and is qualified to install your solar system. Another way you can check your installer’s reputation is by reading reviews.
  • Installation Process: Homeowners should make sure they understand how exactly the installation process will be carried out, as well as important factors like the completion timeline.

Best Solar Financing

Blue Raven Solar

★★★★★
4.5
  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries

Best for Leasing

Sunrun

★★★★★
4.0
  • Expansive service area
  • Many financing options
  • Some reported issues with customer service
  • Some reported issues with door-to-door sales

Best Technology

Tesla Energy

★★★★★
3.2
  • 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

What is the average cost of installing solar panels in Niles?

This is a tough question to answer exactly, because the cost depends on a few different factors. Generally 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 additional solar equipment or higher quality panels, or if you have higher-than-average energy consumption. On the flip side, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.

Is cost the most important consideration when buying solar panels?

The initial cost is a very important factor to consider, but whether it’s the most important for you depends on why you decided to go solar. In areas where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to consider are the quality and durability of your solar panels.

Can solar panels significantly reduce my electricity bills?

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 the roof space for that size system, so you’ll want to check with a local solar installer to see how many panels can fit on your roof.

What solar power system size is right for my home?

To figure out how many solar panels you need, you need to know how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can typically produce about 250 to 400 watt-hours per hour, the average home will need 20 to 35 panels.

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.