Solar Panel Cost Guide in Park Ridge, IL (Jan 2023)
- Park Ridge Solar Installation Cost: $12,211
- 25-Year Savings: $10,400
- Payback Period: 13.5 Years
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Top Solar Installers in Park Ridge
When going solar, many homeowners choose to use a solar installer since DIY solar panel installation can be a challenging project. Some solar companies, particularly local ones, can help you make the most of incentives in Park Ridge, therefore optimizing your ROI.
Working with a vetted solar installer can help you make the most of your investment in solar. Here are our recommendations:
See all of the solar companies in Park Ridge
Factors that Affect Solar Panel Costs in Park Ridge
There are many factors that can affect your solar panel installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar panels.
Solar system size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of going solar. Because of that, it's a priority 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 want 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 a small roof 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 additional equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Most solar installers in Park Ridge offer solar loans, which reduce the initial cost of installing solar. Though solar loans make switching to solar energy more accessible for Park Ridge homeowners, they can also increase the total you pay for your system, depending on your interest rate. 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
The solar company you choose to handle your switch to green energy can play a role in your total costs. There are about 3 solar installation companies in Park Ridge, and each can charge different amounts for labor and equipment. The size of the company can sometimes play the most significant role in the cost. Larger national companies, like SunPro and Sunrun, often have lower pricing due to access to more resources and better 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 down 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||$9,307||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 a lot of solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you pick the right company for you, here are some tips to keep in mind:
- Contract: When looking through your solar company's contract, ask questions about any terms you're not sure of and be sure you understand what happens in scenarios like a system part breaking or if the company goes out of business.
- Warranty: A high-quality company stands out from other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Solar Panel Brands: Not all solar installers offer the same brands of solar panels, so the brand and type of panel you want can play a large role in the company you hire.
- Reputation: Companies that have been operating for many years likely have a good 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.
EcoWatch's Park Ridge, IL Solar Cost FAQs
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.