Solar Panel Cost Guide in Oglesby, IL (2024 Update)
- Oglesby Solar Installation Cost: $16,938
- 25-Year Savings: $11,725
- Payback Period: 17.6 Years
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Average Cost of Solar Panels in Oglesby
See how much it might cost to switch to solar power in Oglesby.
The national average cost of solar panels is $2.66 per watt, but in Oglesby it’s 4 per watt.Using this figure, a typical 6.4-kW system would cost about $16,938 before the 0 federal solar tax credit is applied.
The true cost of your system can go higher or lower than the average in Oglesby depending on a variety of factors, such as the type of solar panels you choose and the solar contractor you hire.With typical savings of about $14,000 on utility bills over 20 years, many homeowners in Oglesby find investing in solar can be quite rewarding.
To receive a free estimate from a top solar installation company in Oglesby, you can click the button below.
Solar savings over time in Oglesby
| Year | Return on Investment |
|---|---|
| 1 years | $-15,782 |
| 3 years | $-13,469 |
| 5 years | $-11,157 |
| 7 years | $-8,845 |
| 9 years | $-6,532 |
| 11 years | $-4,220 |
| 13 years | $-1,908 |
| 15 years | $405 |
| 17 years | $2,717 |
| 19 years | $5,029 |
| 21 years | $7,342 |
| 23 years | $9,654 |
| 25 years | $11,966 |
Top Solar Installers in Oglesby
Many homeowners opt for a solar installer since figuring out how to install solar panels yourself can be challenging. A solar installer can also help save you money over the lifespan of your system by providing warranties, repairs and part replacements.
If you’d like to start using solar energy but still aren’t sure which solar company to go with, here are our suggestions for providers nearby:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
See all of the solar companies in Oglesby
Factors that Affect Solar Panel Costs in Oglesby
Even though the average cost of a solar system in Oglesby is $16,938, your final cost may be higher or lower than that. There are quite a few factors that can have a sizable impact on the cost of a residential solar panel installation. Below are some of the more important things to take into consideration.
Solar Equipment
The size of the solar system you need, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by nearly $3,760. The brand and type of equipment you want for your solar system can increase or decrease the price quite significantly. If you prefer a trusted 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 increase the cost.
Solar Financing Terms
Most solar companies in Oglesby have solar loans, which reduce the initial cost of installing a solar system.Although solar loans make switching to solar energy more accessible for Oglesby homeowners, they can also raise the total you pay for your system due to interest. 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
Finally, the company you choose to install your solar panel system can impact how much it costs. Oglesby’s solar companies all have different labor costs and add varying upcharges to equipment. Companies that only sell high-quality, high-efficiency and high-price products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come with an above-average cost. It’s best to do some research and choose a company that has the products, warranties and services you’re looking for and also is within 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 | $3.91 | $16,424 | $5,974 | 18.3 years |
| 8 kW | $3.84 | $21,477 | $8,386 | 18.0 years |
| 10 kW | $3.76 | $26,320 | $11,009 | 17.6 years |
| 12 kW | $3.68 | $30,952 | $13,843 | 17.3 years |
| 14 kW | $3.61 | $35,374 | $16,887 | 16.9 years |
| 16 kW | $3.53 | $39,585 | $20,141 | 16.6 years |
| 18 kW | $3.46 | $43,586 | $23,606 | 16.2 years |
| 20 kW | $3.38 | $47,376 | $27,282 | 15.9 years |
How to Save on Solar Panels
Since the kind of solar panels and the company you choose has an impact on your costs and your system’s efficiency, production, and durability, it’s important to select the right ones for you. Here are some tips to keep in mind to help with your decision:
- Solar Panel Brands: The brand of solar panel you need plays a role in which installer you should go with, since different companies have different panels.
- Warranty: If you’re concerned about the durability of your solar panel system, making sure your company offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Reputation: Solar companies that have great reviews from their customers and that have been operating for many years most likely provide quality solar panel installation and expertise.
- Contract: Although reading through a contract can be tedious, it’s important to do it thoroughly so you can be 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
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
EcoWatch's Oglesby, IL Solar Cost FAQs
How much does it cost to install solar panels in Oglesby?
The average cost of solar panels in Oglesby is about $18,800 for a 5-kW system and $37,600 for a 10-kW system before the ITC, but the actual cost will depend on things such as the type of solar panels you want, what size system you need and how much energy you consume.
Can you get solar panels for free in Oglesby?
A solar panel system isn’t free in Oglesby, but there are some options that can make getting them more feasible, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can help lower the cost.
Does Oglesby have a net metering program?
The majority of states offer net metering programs of some kind. Through these, you can get paid for the extra power your system generates or or receive credits to put toward future energy bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.
How many solar panels do I need to power my home?
To figure out what solar panel system size you need, you should find out how much energy your home requires 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 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.