Solar Panel Cost Guide in Palatine, IL (2023 Update)
- Palatine Solar Installation Cost: $12,211
- 25-Year Savings: $10,400
- Payback Period: 13.5 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Palatine
Find out how much it might cost to make the switch to solar in Palatine.
While the national average of solar panels is $2.66 per watt, solar panels in Palatine generally cost about 2.73. Because a 6.4-kW system is needed to cover the energy consumption of a typical home in Palatine, the average price of going solar will be about $12,211 after claiming the federal solar tax credit of 30%.
How much you pay can be above or below the average in Palatine based on a few factors, such as the kind of solar panels you choose and the solar company you hire. For most homeowners, the upfront investment in solar panels is worth paying. On average you could be looking at about $13,000 in savings on utility bills over 20 years.
To calculate your potential savings and connect with a local solar expert, click the button below.
Solar savings over time in Palatine
| Year | Return on Investment |
|---|---|
| 1 years | $-11,307 |
| 3 years | $-9,498 |
| 5 years | $-7,689 |
| 7 years | $-5,880 |
| 9 years | $-4,071 |
| 11 years | $-2,262 |
| 13 years | $-453 |
| 15 years | $1,356 |
| 17 years | $3,165 |
| 19 years | $4,974 |
| 21 years | $6,783 |
| 23 years | $8,592 |
| 25 years | $10,400 |
Top Solar Installers in Palatine
Many homeowners decide to hire a solar panel installer since figuring out how to install solar panels yourself can be hard. A solar installer can also help save you money in the long run by providing warranties, repairs and component replacements.
If you're on the hunt for a solar company in Palatine, the EcoWatch team has organized 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
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
See all of the solar companies in Palatine
Factors that Affect Solar Panel Costs in Palatine
The cost of installing a solar system in Palatine can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The biggest one is the size of the system your home needs, and other factors include the equipment you choose, financing options and the solar company you choose.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of installing solar panels. That's why it's important to accurately assess the size of the solar energy system needed for your home by figuring out your average energy use. 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 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 raise the cost.
Solar Financing Terms
Most solar installers in Palatine offer solar loans, which reduce your upfront costs of installing solar panels. It's wise to factor the interest you'll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and how long it'll take to pay off the loan.
Solar Panel Installation Company
The final major cost factor you should keep in mind is the installer you choose. Given the booming popularity of clean energy solutions in Palatine, you'll have many options to choose from, but each comes at different price points for labor and equipment. You may come across national solar installers that have lower prices because of their larger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or specials to compete with those major players.
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 | $9,307 | 14.0 years |
| 8 kW | $2.78 | $15,594 | $12,715 | 13.8 years |
| 10 kW | $2.73 | $19,110 | $16,276 | 13.5 years |
| 12 kW | $2.68 | $22,473 | $19,990 | 13.2 years |
| 14 kW | $2.62 | $25,684 | $23,856 | 13.0 years |
| 16 kW | $2.57 | $28,741 | $27,876 | 12.7 years |
| 18 kW | $2.51 | $31,646 | $32,048 | 12.4 years |
| 20 kW | $2.46 | $34,398 | $36,374 | 12.2 years |
How to Save on Solar Panels
There are numerous companies available in Palatine, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be difficult, so here are some tips to help you decide:
- Solar Panel Brands: The brand of solar panel you need to get plays a part in which installer you should opt for, since different companies offer different panels.
- Reputation: Solar companies that have great reviews from their customers and that have been operating for many years most likely offer quality solar panel installation and expertise.
- Contract: When reading over your solar company's contract, ask questions about any terms you're not sure of and be sure you understand what happens in scenarios such as a system component breaking or if the company goes out of business.
- Installation Process: An important thing to understand when adopting solar power is the installation process itself. Be sure to clarify any details you should know with your solar installer, such as what permits you should acquire and how long the project will take.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
EcoWatch's Palatine, IL Solar Cost FAQs
How much does it cost to install solar panels in Palatine?
The average cost of solar panels in Palatine 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 certain factors like the model of solar panels you want, what size system you need and how much energy you consume.
Is cost the most important thing to keep in mind when buying solar panels?
Cost is without a doubt one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
Can you sell solar power back to the grid in Palatine?
Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just give you credit toward your future power bills.
How long do solar panels last in Palatine?
On average, solar panels can last 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 higher level 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.