Solar Panel Cost Guide in River Grove, IL (Feb 2023)
- River Grove Solar Installation Cost: $12,211
- 25-Year Savings: $10,400
- Payback Period: 13.5 Years
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Top Solar Installers in River Grove
Although it's possible to install solar panels on your own, it involves extra labor and handiness. That's why most people choose to go with a solar panel installer. Plus, warranties and repairs from your solar panel company can protect your investment and lower the cost of maintenance in the long run.
Working with a licensed solar installer can make going solar easier. Here are our recommendations:
See all of the solar companies in River Grove
Factors that Affect Solar Panel Costs in River Grove
The cost of installing a solar system in River Grove can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The largest one is the size of the system your home needs, and other factors include equipment choices, financing options and the solar installer you choose.
The cost of solar panels varies by thousands of dollars due to a variety of factors. One of the notable factors is the system size, which is measured in kilowatts (kW). Solar power systems that have better efficiency or power generation require better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $2,730. There are several different solar panel brands and the one you choose also affects the cost. Usually, the brands that offer higher efficiency tend to also be more expensive. In addition, the type of equipment you're looking to install can affect your total cost. If you just need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Many homeowners find the average cost of solar in River Grove to be prohibitively expensive, even if the investment pays off over time. Fortunately, almost every solar installer in the area provides financing options. Solar loans greatly decrease upfront costs for most homeowners, but they also lead to paying more over time because of interest. You'll have to consider the long-term cost of loans, including the amount of interest you'll pay over the length of the loan. If you're only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the principal cost. Making a larger down payment or securing a solar loan with a low APR could reduce your costs remarkably.
Solar Panel Installation Company
Finally, the company you opt for to install your solar panels can impact your pricing. River Grove's solar companies all have different labor costs and add varying upcharges to equipment. The company's size can sometimes play the most significant role in the cost. Larger national companies, like SunPro and Sunrun, often have lower pricing because they have access to more resources and bulk pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or discount can bring their pricing lower to compete with bigger names.
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 models and price points. To help you find the right company for you, here are some tips to keep in mind:
- Contract: It's important to look over your solar installer's contract well to understand what services they will provide, what the warranty covers and what you can expect about the cost.
- Solar Panel Brands: Not all solar companies have the same brands of solar panels, so the brand and type of panel you want can play a considerable role in the company you choose.
- Warranty: If you're worried about the endurance of your solar panel system, making sure your company offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Installation Process: When going solar, it's crucial to maintain an open line of communication with your solar installer. See to it that you understand how the installation process works and the completion timeline.
EcoWatch's River Grove, 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.