Solar Panel Cost Guide in Oswego, IL (2023 Update)
- Oswego Solar Installation Cost: $12,384
- 25-Year Savings: $10,499
- Payback Period: 13.5 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Oswego
Here's how much it might cost to go solar in Oswego.
In Oswego, solar panels cost about 2.73 per watt on average. The average solar panel system size in Oswego is around 6.5 kilowatts, meaning a cost of about $12,383 for a solar installation, or $17,708 before the 30% federal solar tax credit is applied.
The prices above are just estimates to give you an idea of the cost of solar panels. The actual cost of making the switch to solar can vary depending on multiple factors, such as how many panels you need, your energy usage and what company you go with. With average savings of about $13,000 on energy bills over 20 years, many homeowners in Oswego find investing in solar can pay off big.
To get a free estimate from a highly rated solar company in Oswego, you can click the button below.
Solar savings over time in Oswego
| Year | Return on Investment |
|---|---|
| 1 years | $-12,307 |
| 3 years | $-12,155 |
| 5 years | $-12,002 |
| 7 years | $-11,850 |
| 9 years | $-11,697 |
| 11 years | $-11,545 |
| 13 years | $-11,392 |
| 15 years | $-11,239 |
| 17 years | $-11,087 |
| 19 years | $-10,934 |
| 21 years | $-10,782 |
| 23 years | $-10,629 |
| 25 years | $-10,477 |
Top Solar Installers in Oswego
Do-it-yourself solar panel installation is a choice some homeowners opt for, but it's an undertaking that can take a lot of hard work. Hiring a solar panel installer can make your swap to solar power much easier. The expertise that solar installers offer can be valuable as well, particularly if you aren't sure what kind of solar equipment you need.
If you're looking for a solar installer in Oswego, 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 Oswego
Factors that Affect Solar Panel Costs in Oswego
Cost is usually one of the most important factors for homeowners who want to invest in solar. There are a few major factors that determine your overall cost in Oswego: 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 panel systems varies by thousands of dollars due to a few different factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems with higher efficiency or power generation use better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $2,730. The brand and kind of equipment you choose for your solar system can raise or lower the price quite significantly. If you prefer a 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 can expect a higher equipment cost, but this can typically lead to more savings over time. Also, if you want add-ons like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be challenging. Solar loans are available from most installers in Oswego, which can reduce, or in some cases completely eliminate, your upfront costs to make solar more accessible. However, the interest on solar loans also increases your total costs, so it's vital to consider that as well. You can always reduce the total you pay in interest and in some cases even your APR by making a larger down payment.
Solar Panel Installation Company
The solar panel installer you pick will influence your total cost to go solar. Different companies will bill different amounts for the equipment and labor. Additionally, some companies in Oswego are more knowledgeable about local solar incentives and can help you take advantage of 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 help you save 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 | $9,263 | 14.1 years |
| 8 kW | $2.78 | $15,594 | $12,656 | 13.8 years |
| 10 kW | $2.73 | $19,110 | $16,202 | 13.5 years |
| 12 kW | $2.68 | $22,473 | $19,901 | 13.3 years |
| 14 kW | $2.62 | $25,684 | $23,753 | 13.0 years |
| 16 kW | $2.57 | $28,741 | $27,758 | 12.7 years |
| 18 kW | $2.51 | $31,646 | $31,916 | 12.4 years |
| 20 kW | $2.46 | $34,398 | $36,226 | 12.2 years |
How to Save on Solar Panels
The solar panel company you opt for will influence not only your overall costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are some important things you should take into account, such as:
- Installation Process: Make sure you're aligned with the company 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: The type of solar panel you'd like plays a role in which company you should go with, since different companies provide different panels.
- Contract: Before you sign a contract with a solar company, be sure to look it over carefully so you understand the terms. Also, ask questions if you're not sure about some of the terms, such as what to do if a component breaks or malfunctions and if there are any guarantees about energy production.
- Reputation: Your solar installer should have a sound reputation as a company and have demonstrated expertise in the field. A couple of ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from previous customers.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Oswego, IL Solar Cost FAQs
How much does it cost to install solar panels in Oswego?
The average cost of solar panels in Oswego is about $13,650 for a 5-kW system and $27,300 for a 10-kW system before the ITC, but the actual cost will depend on things like the kind of solar panels you want, what size system you need and how much energy you consume.
Are solar panels free in Oswego?
A solar panel system isn't free in Oswego, 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 you can take advantage of.
How will having solar panels impact my property value?
Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Oswego is currently $245,972, so you can look forward to a value of about $10,085 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Oswego is a worthwhile investment.
What solar power system size is right for my home?
To figure out how many solar panels you need, you need to know how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can generally 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.