Solar Panel Cost Guide in Randolph, IL (2024 Update)
- Randolph Solar Installation Cost: $16,692
- 25-Year Savings: $11,848
- Payback Period: 17.4 Years
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Average Cost of Solar Panels in Randolph
Find out what the average cost of a solar system is in Randolph.
In Randolph, solar panels cost about 4 per watt on average.The average solar panel system size in Randolph is around 6.3 kilowatts, meaning a cost of about $16,692 for a solar installation, or $23,870 before the 0 federal solar tax credit is applied.
The prices above are just estimates to give you an idea of how much a solar energy system could cost. The exact cost of installing solar panels can vary based on multiple factors, such as how many panels you need, your energy usage and what company you go with.With average savings of about $14,000 on utility bills over 20 years, many homeowners in Randolph find installing solar panels has a decent ROI.
Click the button below to get connected to a top solar installer in Randolph for a customized quote.
Solar savings over time in Randolph
| Year | Return on Investment |
|---|---|
| 1 years | $-15,842 |
| 3 years | $-14,140 |
| 5 years | $-12,439 |
| 7 years | $-10,738 |
| 9 years | $-9,036 |
| 11 years | $-7,335 |
| 13 years | $-5,634 |
| 15 years | $-3,933 |
| 17 years | $-2,231 |
| 19 years | $-530 |
| 21 years | $1,171 |
| 23 years | $2,873 |
| 25 years | $4,574 |
Top Solar Installers in Randolph
Installing solar panels on your own can be a challenging project, which is why using a solar installer is a good option for many homeowners. Local solar installers can also help you maximize your return on investment by walking you through any local incentives and by offering warranties and repairs.
If you're on the hunt for a solar company in Randolph, we've compiled a list of our top suggestions here:
Best National Provider
SunPower
- 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
- 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
See all of the solar companies in Randolph
Factors that Affect Solar Panel Costs in Randolph
While the average cost of a solar system in Randolph is $16,692, your final cost may be higher or lower than that. There are several factors that can have a significant impact on the cost of a solar panel installation. Below are some of the more crucial things to take into consideration.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a few different factors. One of the main factors is the system size, which is measured in kilowatts (kW). Solar power systems with higher efficiency or power production need better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $3,760.The brand of solar panels and equipment you want is another factor that will greatly affect costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to cost more. Moreover, solar equipment goes beyond just the solar panels themselves. You’ll also need to consider the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when looking for a solar system that falls within your budget.
Solar Financing Terms
Most solar installers in Randolph have solar loans, which reduce the initial cost of installing solar panels.It’s a good idea to include 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 back the loan.
Solar Panel Installation Company
The solar installer you go with to handle your switch to green energy can have an effect on your total costs. There are about 3 solar installation companies operating in Randolph, and each can charge different amounts for labor and equipment.Companies that only sell high-quality, high-efficiency and high-price products — 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 offers the products, warranties and services you want and also fit into 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 | $6,252 | 18.1 years |
| 8 kW | $3.84 | $21,477 | $8,756 | 17.8 years |
| 10 kW | $3.76 | $26,320 | $11,472 | 17.4 years |
| 12 kW | $3.68 | $30,952 | $14,398 | 17.1 years |
| 14 kW | $3.61 | $35,374 | $17,535 | 16.7 years |
| 16 kW | $3.53 | $39,585 | $20,882 | 16.4 years |
| 18 kW | $3.46 | $43,586 | $24,440 | 16.0 years |
| 20 kW | $3.38 | $47,376 | $28,208 | 15.7 years |
How to Save on Solar Panels
The solar panel company you go with will affect not only your overall costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are a few important things you should keep in mind, such as:
- Reputation: Solar installers that have great reviews from their customers and that have been in business for many years most likely offer good-quality solar panel installation and expertise.
- Contract: When reading over your solar company’s contract, ask for clarification about any terms you’re not sure of and make sure you understand what happens in scenarios such as a system part breaking or the company going out of business.
- Solar Panel Brands: Each solar panel brand and type 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.
- Warranty: Companies typically offer different types of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
Best National Provider
SunPower
- 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
- 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
EcoWatch's Randolph, IL Solar Cost FAQs
How much does it cost to install solar panels in Randolph?
This is a hard question to answer precisely, because the cost depends on a variety of factors. Generally speaking, it costs about $18,800 for a 5-kW system and $37,600 for a 10-kW system after the ITC is applied. It will be more expensive if you want additional solar equipment or higher quality panels, or if you have higher-than-average energy needs. Conversely, you can spend less if you go with a smaller solar panel system or less expensive solar panels.
What other factors should I consider aside 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.
Does Randolph have a net metering program?
Each state has some form 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 offer you credit toward your future power bills.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy consumption and the amount of sunlight your roof gets. You can take a look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to install between 20 and 35 panels to cover their typical energy usage.
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.