Solar Panel Cost Guide in North Chicago, IL (2025 Update)
- North Chicago Solar Installation Cost: $16,643
- 25-Year Savings: $10,528
- Payback Period: 18.4 Years
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Average Cost of Solar Panels in North Chicago
Find out what the average cost of solar panel installation is in North Chicago.
In North Chicago, solar panels cost about 4 per watt on average.Since a 6.3-kW system is needed to cover the energy usage of a typical home in North Chicago, the average price of going solar will be about $16,643 after claiming the federal solar tax credit of 0.
The true cost of your system can go higher or lower than the average in North Chicago depending on a variety of factors, such as the kind of solar panels you choose and the solar installer you hire.But, after you've paid the initial cost of installation, the ROI for most homeowners is typically fruitful, with a net average savings of about $14,000 over 20 years on electricity bills.
You can click the button below to get connected with a pre-vetted solar company in North Chicago that can help you get a more accurate cost estimate for your home.
Solar savings over time in North Chicago
| Year | Return on Investment |
|---|---|
| 1 years | $-15,487 |
| 3 years | $-13,174 |
| 5 years | $-10,862 |
| 7 years | $-8,550 |
| 9 years | $-6,237 |
| 11 years | $-3,925 |
| 13 years | $-1,612 |
| 15 years | $700 |
| 17 years | $3,012 |
| 19 years | $5,325 |
| 21 years | $7,637 |
| 23 years | $9,949 |
| 25 years | $12,262 |
Top Solar Installers in North Chicago
Many homeowners decide to hire a solar installation company since trying to install solar panels by yourself can be a labor-intensive endeavor. Solar warranties and repairs are often included in the cost of installation when you hire a solar contractor too, which can save you more money over time.
There are a number of licensed solar professionals that can install solar panels for you. Here are our suggestions:
See all of the solar companies in North Chicago
Factors that Affect Solar Panel Costs in North Chicago
Cost is typically one of the most important factors for homeowners who are considering investing in solar. There are a few key factors that will push your cost above or below the average in North Chicago: solar equipment and system size, financing options and the solar installation company you choose. We’ll discuss each of these briefly below.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a few different factors. One of the notable factors is the system size, which is measured in kilowatts (kW). Solar power systems with greater efficiency or power generation require better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $3,760.There are a lot of different solar panel brands and the one you choose also changes the cost. Generally speaking, the brands that have better efficiency tend to also cost more. Additionally, the type of equipment you’re looking to get can affect your total cost. If you just need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
If paying for solar panels out of pocket is difficult, solar loans are an affordable choice because they lower your upfront costs and allow you to pay for your system over five to seven years on average.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 on your down payment can lower the total interest paid over time.
Solar Panel Installation Company
A final factor to keep in mind when trying to estimate the cost of solar for your home or business in North Chicago is the company you hire to install your PV system. Similar to choosing a company to renovate your kitchen, for instance, there are plenty of solar installers that provide a range of services for different budgets.Additionally, some companies in North Chicago know more about local solar incentives and can help you learn about additional rebates or tax exemptions. However, they may charge more for that service. Even if they cost more upfront, they could end up saving you more money in the long run.
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 | $5,032 | 19.1 years |
| 8 kW | $3.84 | $21,477 | $7,130 | 18.8 years |
| 10 kW | $3.76 | $26,320 | $9,439 | 18.4 years |
| 12 kW | $3.68 | $30,952 | $11,959 | 18.0 years |
| 14 kW | $3.61 | $35,374 | $14,689 | 17.7 years |
| 16 kW | $3.53 | $39,585 | $17,630 | 17.3 years |
| 18 kW | $3.46 | $43,586 | $20,781 | 16.9 years |
| 20 kW | $3.38 | $47,376 | $24,143 | 16.6 years |
How to Save on Solar Panels
There are many companies available in North Chicago, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be challenging, so here are some tips to help you decide:
- Solar Panel Brands: The type of solar panel you’d like to get plays a role in which company you should go with, since different companies offer different panels.
- Reputation: Solar system installers that have great reviews from their customers and that have been operating for many years most likely offer high-quality solar panel installation and expertise.
- Installation Process: When going solar, it’s important to maintain an open line of communication with your solar installer. Confirm that you understand how the installation process will go and the project completion timeline.
- Warranty: Warranties that provide coverage for defective panels and repairs over around 25 years are the gold standard in the business, and offering that kind of warranty is one indication of a quality company.
EcoWatch's North Chicago, IL Solar Cost FAQs
How much does it cost to install solar panels in North Chicago?
The average cost of solar panels in North Chicago 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 things like the model of solar panels you want, what size system you need and how much energy you consume.
Is cost the most important consideration when buying solar panels?
Cost is without a doubt one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Is it worth going solar in North Chicago?
Whether or not solar panels are worth it depends on some different factors like how much you pay for electricity and the amount of direct sunlight your roof gets.
How long do solar panels last in North Chicago?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can choose to replace them once you've had them for that long or you can keep using them at a lower efficiency.
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.