Solar Panel Cost Guide in North Litchfield, IL (2023 Update)
- North Litchfield Solar Installation Cost: $11,848
- 25-Year Savings: $18,040
- Payback Period: 9.9 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in North Litchfield
Let's have a look at the average cost of solar panels in North Litchfield.
The national average cost of solar panels is $2.66 per watt, but in North Litchfield it's 2.73 per watt. Using this figure, a typical 6.2-kW system would cost about $11,848 before the 30% federal solar tax credit is applied.
The true price you pay can be above or below the average in North Litchfield based on a variety of factors, such as the model of solar panels you choose and the solar installer you hire. Many homeowners find installing a solar system is a solid investment. The average homeowner in North Litchfield can save around $18,000 on their energy bills over 20 years.
For a personalized quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in North Litchfield
| Year | Return on Investment |
|---|---|
| 1 years | $-10,653 |
| 3 years | $-8,262 |
| 5 years | $-5,871 |
| 7 years | $-3,479 |
| 9 years | $-1,088 |
| 11 years | $1,303 |
| 13 years | $3,694 |
| 15 years | $6,085 |
| 17 years | $8,476 |
| 19 years | $10,867 |
| 21 years | $13,258 |
| 23 years | $15,649 |
| 25 years | $18,040 |
Top Solar Installers in North Litchfield
Trying to install solar panels yourself can be a time-consuming task, which is why hiring a solar installation company is a good option for many homeowners. Plus, if you're unsure what brand of solar panels and equipment you need, a solar company can help you find the right equipment for you after a site survey and consultation.
There are a number of licensed solar professionals that can help you install your solar system. Here are our suggestions:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
Best Technology
Tesla Energy
- 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 North Litchfield
Factors that Affect Solar Panel Costs in North Litchfield
The cost of installing a solar system in North Litchfield 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 the equipment you choose, financing options and the solar installer you choose.
Solar Equipment
The size of the solar energy system you need for your household, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, your total will most likely increase by nearly $2,730. The solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you get the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. However, higher efficiency could save you more over time on your electric bills. Additionally, add-on products, such as solar batteries, can bump up your total well above the North Litchfield average.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be financially overwhelming. Solar loans are provided by most installers in North Litchfield, which can lower, or in some cases completely eliminate, your upfront costs to make solar more affordable. Even though solar loans make adopting solar energy more accessible for North Litchfield homeowners, they can also increase the total you pay for your system, depending on your interest rate. If you put down a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
The last key cost factor you should take into consideration is the installer you choose. Given the booming popularity of clean energy solutions in North Litchfield, you'll have lots of options to choose from, but each comes at varying price points for labor and equipment. You may come across national solar installers that have lower prices because of their bigger brand name and access to bulk equipment prices, or you might see small, local installation companies offering deals or specials to compete with those major players.
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 | $17,021 | 10.3 years |
| 8 kW | $2.78 | $15,594 | $23,001 | 10.1 years |
| 10 kW | $2.73 | $19,110 | $29,133 | 9.9 years |
| 12 kW | $2.68 | $22,473 | $35,418 | 9.7 years |
| 14 kW | $2.62 | $25,684 | $41,856 | 9.5 years |
| 16 kW | $2.57 | $28,741 | $48,447 | 9.3 years |
| 18 kW | $2.51 | $31,646 | $55,191 | 9.1 years |
| 20 kW | $2.46 | $34,398 | $62,088 | 8.9 years |
How to Save on Solar Panels
Since the type of solar panels and the installer you choose has an impact on your costs and your system's durability and efficiency, it's important to select the right ones for you. Here are some tips to keep in mind to help with your decision:
- Installation Process: Make sure you're on the same page with the installer regarding how the installation process will go and what you need to do before your solar system is installed, such as updating or replacing your electrical system or roof.
- Solar Panel Brands: Each solar panel brand and kind has varying levels of quality, durability and efficiency. They will come at different price points as well. The company you choose impacts which solar panel brands you have access to.
- Warranty: Companies typically offer different types of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Contract: Even though reading through a contract can take a lot of time, it's important to do it fully so you can make sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
Best Technology
Tesla Energy
- 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 North Litchfield, IL Solar Cost FAQs
What is the average cost of installing solar panels in North Litchfield?
This is a difficult question to answer precisely, because the cost depends on a few different factors. Broadly speaking, it costs about $13,650 for a 5-kW system and $27,300 for a 10-kW system after the ITC is applied. It will be more expensive if you want additional solar equipment or higher quality panels, or if you have higher-than-average energy consumption. Conversely, you can spend less if you want a smaller solar panel system or cheaper solar panels.
Is it better to lease or buy solar panels in North Litchfield?
Leasing solar panels can be an attractive choice, as it usually comes with low or $0 upfront payments. The drawback is that you won't be able to save as much. If you lease, you don't own the system, so you can't claim any incentives and your home value won't increase. Buying solar panels is a better option if you want to maximize your savings.
Do solar panels increase how much your home is worth?
Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in North Litchfield is currently $90,205, so you can look forward to a value of about $3,698 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in North Litchfield is a rewarding investment.
How long do solar panels last in North Litchfield?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher amount 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.