Solar Panel Cost Guide in Riverdale, IL (2024 Update)
- Riverdale Solar Installation Cost: $16,818
- 25-Year Savings: $10,400
- Payback Period: 18.6 Years
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Average Cost of Solar Panels in Riverdale
We break down average solar pricing in Riverdale.
The average cost of solar panels in Riverdale is 4 per watt.The average solar panel system size in Riverdale is around 6.4 kilowatts, meaning a cost of about $16,818 for a solar installation, or $24,050 before the 0 federal solar tax credit is applied.
Keep in mind that the figures above are only estimates based on the average energy use of Riverdale homeowners. The cost of a solar system for your home may be different depending on factors unique to your situation, like your household energy use and solar contractor.Even with the significant upfront cost, the average Riverdale homeowner can save about $13,000 on their electricity bills over 20 years, which is one of the positives of solar.
To get a free quote from a pre-vetted solar company in Riverdale, you can click the button below.
Solar savings over time in Riverdale
| Year | Return on Investment |
|---|---|
| 1 years | $-15,662 |
| 3 years | $-13,350 |
| 5 years | $-11,038 |
| 7 years | $-8,725 |
| 9 years | $-6,413 |
| 11 years | $-4,100 |
| 13 years | $-1,788 |
| 15 years | $524 |
| 17 years | $2,837 |
| 19 years | $5,149 |
| 21 years | $7,461 |
| 23 years | $9,774 |
| 25 years | $12,086 |
Top Solar Installers in Riverdale
Installing solar panels by yourself can be a dangerous task, which is why using a solar installer is a good option for many homeowners. Solar companies provide key benefits that can help you get the most out of your investment, like warranties, monitoring and free repairs.
If you’d like to switch to solar energy but still aren’t sure which solar company to go with, here are our recommendations for providers in Riverdale:
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 Riverdale
Factors that Affect Solar Panel Costs in Riverdale
There are several criteria 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 performs the installation.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more energy your household consumes, the larger your system will likely need to be. You can expect to pay around $3,760 per kilowatt in Riverdale.There are several different solar panel brands and the one you choose also changes the cost. Generally speaking, the brands that offer higher efficiency tend to also be more expensive. Plus, the type of equipment you choose can affect your total cost. If you only need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
If paying for solar panels in cash is too expensive, solar loans are a popular choice because they reduce your upfront costs and let you pay for your system over a term of, on average, between five and seven years.When estimating your overall cost, you should also calculate the interest you’ll pay if you decide on a solar loan. Also, paying more upfront can lower the total interest paid over time.
Solar Panel Installation Company
The solar company you choose to handle your switch to sustainable energy can have an effect on your total costs. There are about 3 solar installation companies in Riverdale, and each can charge different amounts for labor and equipment.Larger national companies generally have lower costs, but some local companies undercut them by offering sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or extra 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 | $3.91 | $16,424 | $4,808 | 19.3 years |
| 8 kW | $3.84 | $21,477 | $6,832 | 19.0 years |
| 10 kW | $3.76 | $26,320 | $9,066 | 18.6 years |
| 12 kW | $3.68 | $30,952 | $11,511 | 18.2 years |
| 14 kW | $3.61 | $35,374 | $14,166 | 17.9 years |
| 16 kW | $3.53 | $39,585 | $17,032 | 17.5 years |
| 18 kW | $3.46 | $43,586 | $20,109 | 17.1 years |
| 20 kW | $3.38 | $47,376 | $23,396 | 16.7 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you decide on the right company for you, here are some tips to keep in mind:
- Reputation: Your solar installer should have a good reputation as a company and have proven expertise in the field. Two ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has satisfied reviews from past customers.
- Solar Panel Brands: Different companies carry various brands and kinds of panels. If you prefer a specific brand, make sure the solar panel installer you’re considering has it.
- Contract: Look through the contract terms thoroughly to make sure you understand the cost breakdown, completion timeline incentives and warranties.
- Installation Process: An important thing to understand when going solar is the installation process itself. Be sure to align on any details you should know with your solar installer, such as what permits you should secure 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 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 Riverdale, IL Solar Cost FAQs
How much does it cost to install solar panels in Riverdale?
The average cost of solar panels in Riverdale is about $18,800 for a 5-kW system and $37,600 for a 10-kW system before the ITC, but the real cost will depend on certain factors such as the model of solar panels you want, what size system you need and how much energy you consume.
Should I lease or buy solar panels in Riverdale?
Leasing solar panels can be an appealing choice, because it commonly comes with low or $0 upfront payments. The drawback is that you won’t be able to save as much. If you lease, you don’t own the system, so you can’t claim any incentives and your home value won’t increase. Buying solar panels is a better way to go if you want to get the most savings.
Is going solar worth it?
Whether or not solar panels are worth it depends on some different factors like the cost of electricity near you and how much direct sunlight your roof gets.
How long do solar panels last in Riverdale?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher amount 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.