Solar Panel Cost Guide in Radnor, IL (2023 Update)
- Radnor Solar Installation Cost: $12,197
- 25-Year Savings: $7,634
- Payback Period: 15.4 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Radnor
Let's take a look at the average cost of solar panels in Radnor.
In Radnor, solar panels cost about 2.73 per watt on average. The average Radnor homeowner needs a 6.4-kilowatt system, which would cost about $12,192 with the federal tax credit, or $17,435 before the 30% tax credit is applied.
The true price you pay can go higher or lower than the average in Radnor based on a variety of factors, such as the type of solar panels you choose and the solar installer you hire. Even with the large initial cost, the average Radnor homeowner can save around $12,000 on their power bills over 20 years, which is one of the advantages of solar.
Click the button below to get connected to a highly rated solar panel company in Radnor for a customized estimate.
Solar savings over time in Radnor
| Year | Return on Investment |
|---|---|
| 1 years | $-12,130 |
| 3 years | $-11,998 |
| 5 years | $-11,866 |
| 7 years | $-11,734 |
| 9 years | $-11,602 |
| 11 years | $-11,469 |
| 13 years | $-11,337 |
| 15 years | $-11,205 |
| 17 years | $-11,073 |
| 19 years | $-10,941 |
| 21 years | $-10,808 |
| 23 years | $-10,676 |
| 25 years | $-10,544 |
Top Solar Installers in Radnor
DIY solar panel installation is a way to cut costs, but it's an undertaking that can use up a lot of your time and energy. Going with a solar panel installer can make swapping over to solar power much easier. The payback period on a solar system will vary depending on factors like your roof configuration and energy use, but going with a solar company can shorten it. Your provider will be able to help you get the most out of incentives available in your area.
Working with a vetted solar installer can help you make the most of your investment in solar. Here are our recommendations:
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 Radnor
Factors that Affect Solar Panel Costs in Radnor
Although the average cost of a solar system in Radnor is $12,192, your final cost may differ. There are several factors that can have a major impact on the cost of a solar system installation. Below are some of the more crucial things to consider.
Solar Equipment
The size of the solar energy system you need for your household, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, your total will most likely increase by about $2,730. The brand and type of equipment you choose for your solar system can increase or decrease the price quite significantly. If you prefer a trusted 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 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 extra equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
Most solar installers in Radnor offer solar loans, which reduce your upfront costs of installing solar panels. However, the interest on solar loans also increases your all-in costs, so it's vital to consider that as well. You can always reduce the total you pay in interest and possibly even your APR by putting more money down.
Solar Panel Installation Company
Finally, the company you choose to install your solar system can impact the cost. Radnor's solar companies all have different labor costs and add varying upcharges to equipment. Larger national companies usually have lower costs, but some local companies keep up with them by promoting sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or add-on services like electric vehicle charger installation, they might be cheaper overall.
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 | $6,718 | 16.0 years |
| 8 kW | $2.78 | $15,594 | $9,263 | 15.7 years |
| 10 kW | $2.73 | $19,110 | $11,961 | 15.4 years |
| 12 kW | $2.68 | $22,473 | $14,811 | 15.1 years |
| 14 kW | $2.62 | $25,684 | $17,815 | 14.8 years |
| 16 kW | $2.57 | $28,741 | $20,972 | 14.5 years |
| 18 kW | $2.51 | $31,646 | $24,281 | 14.1 years |
| 20 kW | $2.46 | $34,398 | $27,743 | 13.8 years |
How to Save on Solar Panels
Since the brand of solar panels and the installation company you choose has an impact on your costs and your system's efficiency, production, and durability, it's important to select the right ones for you. Here are some tips to keep in mind to help with your decision:
- 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 support, such as part repairs and replacements.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and energy needs. While there are many options for which kind of solar panel you can get, not every company will have access to the exact one you may want or need, so make sure you ask for their list of offerings before making your decision.
- Warranty: A quality company rises above other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Contract: Although reading through a contract can be tedious, it's important to do it thoroughly so you can make sure you understand what services your solar company will provide and how part repairs and replacements will be handled.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Radnor, IL Solar Cost FAQs
What is the average cost of installing solar panels in Radnor?
The average cost of solar panels in Radnor 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 kind of solar panels you want, what size system you need and how much energy you consume.
What other factors should I consider apart from cost when buying solar panels?
Cost is without a doubt one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Can solar panels significantly reduce my energy bills?
It is possible to eradicate your electricity bills with solar panels, but for most homeowners throughout Radnor, that will require at least a 10-kW system. Not all homes can accommodate that size system, so you'll want to check with a local solar installer to see how many panels can fit on your roof.
How many solar panels do I need to power my home?
To figure out how many solar panels you need, you need to know how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can typically produce about 250 to 400 watt-hours per hour, the average household 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.