Solar Panel Cost Guide in Oswego, IL (2024 Update)
- Oswego Solar Installation Cost: $17,056
- 25-Year Savings: $10,499
- Payback Period: 18.6 Years
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Average Cost of Solar Panels in Oswego
Let’s take a look at the average cost of solar panels in Oswego.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Oswego, the typical cost of solar panels is 4 per watt.Since a 6.5-kW system is needed to cover the energy needs of a typical home in Oswego, the average price of going solar will be about $17,056 after claiming the federal solar tax credit of 0.
Bear in mind that the figures above are only estimates based on the average energy use of Oswego homeowners. The price of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor.But, once you've paid the upfront cost of installation, the payback for most homeowners is typically fruitful, with a net average savings of about $13,000 over 20 years on power bills.
To get a free estimate from a pre-vetted solar installer in Oswego, you can click the button below.
Solar savings over time in Oswego
| Year | Return on Investment |
|---|---|
| 1 years | $-15,900 |
| 3 years | $-13,587 |
| 5 years | $-11,275 |
| 7 years | $-8,963 |
| 9 years | $-6,650 |
| 11 years | $-4,338 |
| 13 years | $-2,025 |
| 15 years | $287 |
| 17 years | $2,599 |
| 19 years | $4,912 |
| 21 years | $7,224 |
| 23 years | $9,536 |
| 25 years | $11,849 |
Top Solar Installers in Oswego
Although it's possible to install solar panels on your own, it takes extra labor and knowledge. That's why most people choose to go with a solar panel installer. Plus, if you’re not certain what kind of solar panels and equipment you need, a solar company can help you figure that out after a site survey and consultation.
There are various licensed solar professionals that can help you install your solar system. Here are our suggestions:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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 Oswego
Factors that Affect Solar Panel Costs in Oswego
While the average cost of a solar system in Oswego is $17,056, your final cost may differ. There are many factors that can have a major impact on the cost of a residential solar panel installation. Below are some of the more important things to take into consideration.
Solar Equipment
One of the most important factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more energy your household consumes, the larger your system will likely need to be. You can expect to pay around $3,760 per kilowatt in Oswego.The type of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you opt for the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. On the other hand, more efficient panels could save you more over time on your energy bills. In addition, add-on products, such as solar batteries, can bring your total well above the Oswego average.
Solar Financing Terms
Most solar installers in Oswego provide solar loans, which reduce your upfront costs of installing solar.You’ll have to consider the long-term cost of financing options, including the amount of interest you’ll pay over the length of the loan. If you’re only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or securing a solar loan with a low interest rate could reduce your costs significantly.
Solar Panel Installation Company
The final significant cost factor you should consider is the installer you choose. Given the booming popularity of renewable energy solutions in Oswego, you’ll have a great number of options to choose from, but each comes at different price points 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 with an above-average cost. It’s best to do some research and find a company that provides the products, warranties and services you want and also fits 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 | $4,764 | 19.4 years |
| 8 kW | $3.84 | $21,477 | $6,773 | 19.0 years |
| 10 kW | $3.76 | $26,320 | $8,992 | 18.6 years |
| 12 kW | $3.68 | $30,952 | $11,422 | 18.3 years |
| 14 kW | $3.61 | $35,374 | $14,063 | 17.9 years |
| 16 kW | $3.53 | $39,585 | $16,914 | 17.5 years |
| 18 kW | $3.46 | $43,586 | $19,976 | 17.1 years |
| 20 kW | $3.38 | $47,376 | $23,248 | 16.8 years |
How to Save on Solar Panels
Since the kind of solar panels and the company you choose considerably affects your costs and your system’s efficiency, production, and durability, it’s important to pick the right ones for you. Here are some things to keep in mind to help with your decision:
- Warranty: If you care about the endurance of your solar energy system, verifying that your company offers a 25-year, all-inclusive warranty can help put you at ease.
- Solar Panel Brands: The model of solar panel you want to install plays a role in which installer you should opt for, since different companies offer different panels.
- Reputation: Your solar installer should have a sound reputation as a company and have proven expertise in the field. A couple of ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from previous customers.
- Installation Process: An important thing to understand when going solar is the installation process itself. Be sure to align on any details you need to know with your solar installer, such as what permits you should acquire and how long the project will take.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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 Oswego, IL Solar Cost FAQs
What is the average cost of installing solar panels in Oswego?
The average cost of solar panels in Oswego 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 stuff such as the model of solar panels you want, what size system you need and how much energy you use.
Can you get solar panels for free in Oswego?
You can’t get solar panels for free in Oswego. 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 want to own your solar panels, you can finance them with a solar loan.
How will installing solar panels impact the value of my home?
Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Oswego is currently $369,155, so you could be looking at a value of about $15,135 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Oswego is a fruitful investment.
How often do you have to replace solar panels?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is how much energy they produce will have decreased significantly after that point. You can opt to replace them once you've had them for that long or you can continue to use 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.
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.