Solar Panel Cost Guide in Northfield, IL (2023 Update)
- Northfield Solar Installation Cost: $12,211
- 25-Year Savings: $11,148
- Payback Period: 13.1 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Northfield
Find out how much it might cost to go solar in Northfield.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Northfield, the typical cost of a solar system is 2.73 per watt. The average Northfield 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.
Keep in mind that the figures above are only estimates based on the average energy use of Northfield homeowners. The cost of a solar system for your home may be different depending on factors unique to your situation, like your household energy use and solar contractor. But, after you've paid the initial cost of installation, the savings for most homeowners is quite good, with a net average savings of about $14,000 over 20 years on energy bills.
To see your potential ROI and connect with a local solar expert, click the button below.
Solar savings over time in Northfield
| Year | Return on Investment |
|---|---|
| 1 years | $-12,133 |
| 3 years | $-11,978 |
| 5 years | $-11,822 |
| 7 years | $-11,666 |
| 9 years | $-11,511 |
| 11 years | $-11,355 |
| 13 years | $-11,199 |
| 15 years | $-11,043 |
| 17 years | $-10,888 |
| 19 years | $-10,732 |
| 21 years | $-10,576 |
| 23 years | $-10,420 |
| 25 years | $-10,265 |
Top Solar Installers in Northfield
When making the switch to solar, many homeowners prefer to hire a solar installation company since handling can be a difficult project. Plus, if you're unsure what kind of solar panels and equipment you want, a solar company can help you figure that out after a site survey and consultation.
If you're on the hunt for a solar installer in Northfield, the EcoWatch team has put together a list of our top suggestions here:
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 Northfield
Factors that Affect Solar Panel Costs in Northfield
For many Northfield homeowners, the decision to adopt solar energy rests on cost. However, the range of solar installation costs can be quite wide in Northfield, with typical prices between $20,000 to $40,000. There are a few factors that significantly influence the price you'll pay, which we'll go over below.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to some different 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 production need 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 $2,730. There are many different solar panel brands and the one you choose also changes the cost. In general, the brands that are more efficient tend to also be more expensive. In addition, the type of equipment you choose can affect your total cost. If you only need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Many homeowners find the average cost of solar in Northfield to be prohibitively steep, even if the investment pays off over time. Fortunately, almost every solar company in the area provides access to financing options. Solar loans drastically decrease upfront costs for most homeowners, but they also result in higher prices over time due to interest. You'll have to consider the long-term cost of loans, including the total interest you'll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the principal cost. Making a larger down payment or getting a solar loan with a low APR could reduce your costs considerably.
Solar Panel Installation Company
The solar company you choose to handle your switch to clean energy can play a role in your total costs. There are about 3 solar panel companies operating throughout Northfield, and each can charge varying amounts for labor and equipment. Additionally, some companies in Northfield are more knowledgeable about local solar incentives and can help you learn about additional rebates or tax exemptions. However, they may charge more for walking you through the whole process. 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 | $2.84 | $11,925 | $10,009 | 13.6 years |
| 8 kW | $2.78 | $15,594 | $13,650 | 13.3 years |
| 10 kW | $2.73 | $19,110 | $17,445 | 13.1 years |
| 12 kW | $2.68 | $22,473 | $21,393 | 12.8 years |
| 14 kW | $2.62 | $25,684 | $25,494 | 12.5 years |
| 16 kW | $2.57 | $28,741 | $29,747 | 12.3 years |
| 18 kW | $2.51 | $31,646 | $34,153 | 12.0 years |
| 20 kW | $2.46 | $34,398 | $38,713 | 11.8 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you pick the right company for you, here are some tips to keep in mind:
- Reputation: Make sure your solar company has a good reputation by verifying it has certifications and licenses, checking its number of years in business and reading reviews by previous customers and solar experts like the EcoWatch team.
- Solar Panel Brands: Different companies will have different brands and types of panels. If you know you want a specific brand, make sure the solar installer you're considering has it.
- Installation Process: Make sure you're aligned with the company in regard to how the installation process will go and what needs to be done before your solar panels are installed, such as updating your electrical system or roof.
- Contract: Though reading through a contract can be tedious, it's important to do it fully so you can be sure you understand what services your solar company will provide 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
EcoWatch's Northfield, IL Solar Cost FAQs
What is the average cost of installing solar panels in Northfield?
This is a tough question to answer exactly, because the cost depends on many 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 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 go with a smaller solar panel system or less efficient solar panels.
What other factors should I consider apart from cost when buying solar panels?
Cost is definitely one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Is switching to solar power worth it?
Solar panels can be a beneficial investment for lots of homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your energy bills are already reasonably low, solar panels might not be for you.
How many solar panels do I need to power my home?
To figure out how many solar panels 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 typically 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.