Solar Panel Cost Guide in Oswego, IL (Nov 2022)

  • Oswego Solar Installation Cost: $12,383
  • 25-Year Savings: $10,500
  • Payback Period: 13.5 Years

See cost of a solar system near you:

EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 11/09/2022

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Average Cost of Solar Panels in Oswego

Find out what the average cost of installing solar panels is in Oswego.

In Oswego, solar panels cost about $3 per watt on average. To account for the typical energy needs of the average home in Oswego, most homeowners require a 6.5-kilowatt system. Using the figure above, a solar installation costs around $12,383, or $9,163 after the federal solar tax credit of 30% is applied.

The prices above are just estimates to give you an idea of how much a solar energy system could cost. The true cost of going solar can vary quite a bit based on a few factors, such as what size system you need, your energy consumption and what company you go with. For most homeowners, the upfront investment in solar panels is worth paying. On average Oswego homeowners see about $13,000 in savings on electricity bills over 20 years.

For a free quote from a local solar installer 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 $-11,468
3 years $-9,637
5 years $-7,807
7 years $-5,976
9 years $-4,145
11 years $-2,315
13 years $-484
15 years $1,347
17 years $3,177
19 years $5,008
21 years $6,838
23 years $8,669
25 years $10,500

Top Solar Installers in Oswego

Trying to put up solar panels yourself can be a difficult task, which is why using a solar installation company is a good option for many homeowners. A solar installer can also help save you money in the long run by offering warranties, repairs and system component replacements.

Working with a vetted solar installer can make going solar easier. Here are our recommendations:

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries (coming 2022)

Best Technology

Tesla Energy

★★★★★
4.5

  • 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

Though the average cost of a solar system in Oswego is $12,383, your final cost may be above or below the average. There are quite a few factors that can have a major impact on the cost of a residential solar panel installation. Below are some of the more crucial things to take into consideration.

Solar Equipment

Solar system size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of installing solar panels. For that reason, it's important to accurately assess the size of the solar energy system needed for your home by figuring out your energy needs. The brand and type of equipment you get for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often have a higher price tag than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have a small roof 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. Also, 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 opt to finance their solar panel systems to offset upfront costs. Though solar loans make adopting solar energy more accessible for Oswego homeowners, they can also raise the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. 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

A final consideration when trying to evaluate the cost of solar for your home or business in Oswego is the company you choose to install your solar panel system. Similar to choosing a company to build a deck or pool, for example, you'll have no shortage of solar installers that offer a range of services at different price points. The company's size can sometimes play the most considerable role in your costs. Larger national companies, like SunPro and Sunrun, often have lower prices because of more resources and bulk pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or discount can bring their pricing lower to compete with bigger companies.

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 company that does your solar panel installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Since picking a company can be a challenge, we have some tips to help you, such as:

  • Reputation: Make sure your solar system installer has a good reputation by confirming 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.
  • Installation Process: Homeowners should understand how exactly the installation process will be carried out, as well as important factors like the completion timeline.
  • Solar Panel Brands: Each solar panel brand and model offers varying levels of quality, durability and energy efficiency. They will come at different prices as well. The company you choose impacts which solar panel brands you have access to.
  • Contract: Look through the contract terms thoroughly to make sure you understand the total cost, completion timeline incentives and warranties.

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries (coming 2022)

Best Technology

Tesla Energy

★★★★★
4.5

  • 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?

This is a tough question to answer precisely, because the cost depends on a few different 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. You can expect to pay more if you want other solar equipment or higher quality panels, or if you have above-average energy needs. On the flip side, you can spend less if you opt for a smaller solar panel system or less expensive solar panels.

Should I lease or buy solar panels in Oswego?

Leasing solar panels can be an option if you can't afford to pay upfront or secure a solar loan, but since you don't own the system, you don't have access to many solar incentives. Also your home value won't increase, so you'll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most financial benefits from going solar.

How will having solar panels impact my home 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% with a solar installation."

How long do solar panels last in Oswego?

On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger amount of energy production.

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.

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