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.Using this figure, a typical 6.5-kW system would cost about $17,056 before the 0 federal solar tax credit is applied.
Keep in mind that the figures above are only estimates based on the average Oswego homeowner. The price 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 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 electricity bills.
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 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 requires extra time and expertise. Because of that, the majority of homeowners choose a solar panel installer. A solar company can also help save you money over the lifespan of your system by providing warranties, repairs and part replacements.
If you’d like to make the switch to solar but still aren’t sure which solar system company to go with, here are our recommendations 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
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 Oswego
Factors that Affect Solar Panel Costs in Oswego
There are a number of factors that can influence your solar panel installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that performs the installation.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a variety of 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 production use 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 $3,760.The brand and kind of equipment you get for your solar system can raise or lower the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these are often more expensive 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 more 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
Solar panels can save you money on power bills over many years, but they can also be a significant investment. That’s why many Oswego homeowners choose to finance their solar panel systems to offset upfront costs.It’s wise to add the interest you’ll pay in your final cost estimate. If you can afford to pay a larger down payment, you can reduce your total costs and how long it’ll take to pay back the loan.
Solar Panel Installation Company
The solar company you pick will play a role in your total cost to make the switch to solar . Different companies will bill different amounts for the equipment and labor.Companies that only sell products with high efficiency and therefore a higher price point — 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 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
There are many solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you select the right company for you, here are some tips to keep in mind:
- Warranty: Warranties that provide coverage for panel repairs and maintenance over a couple decades are the best you can get in the business, and offering such a warranty is one sign of a quality company.
- Solar Panel Brands: Different companies carry various brands and kinds of panels. If you prefer a specific brand, make sure the solar panel company you’re considering has it.
- Reputation: Well-established companies likely have a solid reputation. This is important because it ensures that it will not only see your solar project through, but will also provide adequate aftercare and customer service, such as part repairs and replacements.
- Installation Process: When going solar, it’s crucial to maintain an open line of communication with your solar company. See to it that you understand how the installation process works and the project timeline.
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
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 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 real cost will depend on things like the kind of solar panels you want, what size system you need and how much energy you use.
Are solar panels free in Oswego?
Solar panels aren’t free in Oswego, but there are some options that can make getting them more viable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that you can take advantage of.
Do solar panels increase your property value?
Solar panels can increase the value of your home significantly as long as you buy or finance your panels and don’t choose a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing solar panels."
How long do solar panels last in Oswego?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable 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.