Solar Panel Cost Guide in Norridge, IL (2023 Update)
- Norridge Solar Installation Cost: $12,211
- 25-Year Savings: $10,400
- Payback Period: 13.5 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Norridge
Let's have a look at the average cost of solar panels in Norridge.
The average cost of solar panels in Norridge is 2.73 per watt. The average Norridge homeowner needs a 6.4-kilowatt system, which would cost about $12,211 with the federal tax credit, or $17,462 before the 30% tax credit is applied.
The true cost of your system can go above or below the average in Norridge based on a variety of factors, such as the model of solar panels you choose and the solar contractor you hire. For most homeowners, the upfront investment in solar power is worth paying. On average homeowners in Norridge see about $13,000 in savings on electricity bills over 20 years.
You can click the button below to get connected with a vetted solar company in Norridge that can help you get a more accurate cost estimate for your home.
Solar savings over time in Norridge
| Year | Return on Investment |
|---|---|
| 1 years | $-11,055 |
| 3 years | $-8,743 |
| 5 years | $-6,430 |
| 7 years | $-4,118 |
| 9 years | $-1,806 |
| 11 years | $507 |
| 13 years | $2,819 |
| 15 years | $5,131 |
| 17 years | $7,444 |
| 19 years | $9,756 |
| 21 years | $12,068 |
| 23 years | $14,381 |
| 25 years | $16,693 |
Top Solar Installers in Norridge
When switching to solar energy, many homeowners choose to go with a solar installer since overseeing your solar installation yourself can be a difficult project. Some solar companies, especially local ones, can help you make the most of incentives in Norridge, therefore optimizing your ROI.
There are a number of licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
See all of the solar companies in Norridge
Factors that Affect Solar Panel Costs in Norridge
Cost is often one of the most important factors for homeowners who want to invest in solar. There are a few major factors that determine your overall cost in Norridge: solar equipment and system size, financing options and the solar installation company you choose. We'll cover each of these briefly below.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of going solar. That's why it's a priority to accurately gauge the size of the solar energy system needed for your home by figuring out your typical energy use. 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 are often more expensive than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have a small roof 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. Also, if you want extra equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
If paying for solar panels out of pocket is out of reach, solar loans are a solid choice because they decrease your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years. When trying to figure out your overall cost, you should also calculate the interest you'll pay if you decide on a solar loan. Also, paying more upfront can lower the total interest paid over time.
Solar Panel Installation Company
The solar company you opt for to handle your switch to renewable energy can have an effect on your total costs. There are about 3 solar installation companies in Norridge, and each can charge varying amounts for labor and equipment. Some companies only sell high-efficiency and high-priced products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come at a higher cost. It's best to do some research and decide on the company that provides the products, warranties and services you're looking for and also fit into your budget.
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
There are numerous companies available in Norridge, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be tough, so here are some tips to help you decide:
- Solar Panel Brands: The type of solar panel you need plays a part in which installer you should choose, since different companies provide different panels.
- Contract: Though reading through a contract can be tedious, it's important to do it thoroughly so you can make sure you understand what services your solar company will provide and the terms of the warranty.
- Warranty: Warranties that provide coverage for replacement parts and repairs over around 25 years are the gold standard in the business, and offering that kind of warranty is one sign of a good company.
- Reputation: Make sure your solar installer has a good reputation by verifying it has certifications and licenses, checking its work history and reading reviews by previous customers and solar experts like the EcoWatch team.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Norridge, IL Solar Cost FAQs
What is the average cost of installing solar panels in Norridge?
The average cost of solar panels in Norridge 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 things such as the model of solar panels you want, what size system you need and how much energy you consume.
Can you get solar panels for free in Norridge?
You can't get solar panels for free in Norridge. However, you may still be able to install them on a lower budget. You can lease solar panels for a low upfront cost or, if you'd rather own your solar panels, you can finance them with a solar loan.
How much can I save on energy bills after installing solar panels?
It is possible to eliminate your electricity bills with solar panels, but for most homeowners in Norridge, that will require at least a 10-kW system. Not all homes can accommodate that size system, so you'll want to contact 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 what solar panel system size you need, you should find out how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average house 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.