Solar Panel Cost Guide in Roscoe, IL (2024 Update)
- Roscoe Solar Installation Cost: $17,167
- 25-Year Savings: $11,738
- Payback Period: 16.5 Years
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Average Cost of Solar Panels in Roscoe
Find out what the average cost of solar panel installation is in Roscoe.
In Roscoe, solar panels cost about 4 per watt on average.The average Roscoe homeowner needs a 6.5-kilowatt system, which would cost about $17,167 with the federal tax credit, or $24,549 before the 0 tax credit is applied.
Keep in mind that the figures above are only estimates based on the average Roscoe homeowner. The cost of a solar system for your home may look different depending on factors unique to you, like your household energy use and solar contractor.Many homeowners find adopting solar power is a solid investment. The average homeowner in Roscoe can save around $15,000 on their electricity bills over 20 years.
To see your potential ROI and connect with a local solar company, click the button below.
Solar savings over time in Roscoe
| Year | Return on Investment |
|---|---|
| 1 years | $-16,011 |
| 3 years | $-13,698 |
| 5 years | $-11,386 |
| 7 years | $-9,074 |
| 9 years | $-6,761 |
| 11 years | $-4,449 |
| 13 years | $-2,137 |
| 15 years | $176 |
| 17 years | $2,488 |
| 19 years | $4,801 |
| 21 years | $7,113 |
| 23 years | $9,425 |
| 25 years | $11,738 |
Top Solar Installers in Roscoe
Although you can install solar panels by yourself, it takes extra effort and expertise. That's one of the reasons the majority of homeowners choose to hire a solar panel installer. Plus, if you aren’t sure what brand of solar panels and equipment you want, a solar company can help you find the right equipment for you after a site survey and consultation.
Working with a licensed solar company can help your solar project go smoothly. Here are our recommendations:
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
Best Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
See all of the solar companies in Roscoe
Factors that Affect Solar Panel Costs in Roscoe
For many Roscoe homeowners, the decision to install a solar energy system depends on cost. However, the range of solar installation costs can be quite wide in Roscoe, with typical prices between $20,000 to $40,000. There are various factors that significantly influence the price you’ll pay, which we'll go over below.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of installing solar panels. For that reason, it’s crucial to accurately assess the size of the solar energy system needed for your home by figuring out your average energy use.There are many different solar panel brands and the one you pick also affects the cost. In many cases, the brands that have better efficiency tend to also be more expensive. Plus, the type of equipment you want to install can affect your total cost. If you only 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 Roscoe to be prohibitively steep, even if the investment pays off over time. Thankfully, almost every solar company in the area offers financing options. Solar loans remarkably decrease upfront costs in most cases, but they also result in a higher cost over time due to interest.When figuring out your overall cost, you should also calculate the interest you’ll pay if you decide on a solar loan. Also, paying a higher down payment can lower the total interest paid over time.
Solar Panel Installation Company
A final consideration when trying to figure out the cost of solar for your home or business in Roscoe is the company you choose to install your solar system. Similar to choosing a company to install new cabinets, for instance, there’s no shortage of solar installers that offer a range of services for different budgets.Additionally, some companies in Roscoe know more about local solar incentives and can help you learn about additional rebates or tax exemptions. Though, they may charge more for walking you through the whole process. Even if they cost more upfront, they could help you save more money in the long run.
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 | $7,444 | 17.2 years |
| 8 kW | $3.84 | $21,477 | $10,347 | 16.9 years |
| 10 kW | $3.76 | $26,320 | $13,460 | 16.5 years |
| 12 kW | $3.68 | $30,952 | $16,784 | 16.2 years |
| 14 kW | $3.61 | $35,374 | $20,318 | 15.9 years |
| 16 kW | $3.53 | $39,585 | $24,063 | 15.5 years |
| 18 kW | $3.46 | $43,586 | $28,018 | 15.2 years |
| 20 kW | $3.38 | $47,376 | $32,184 | 14.9 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 find the right company for you, here are some tips to keep in mind:
- Warranty: Warranties that cover replacement parts and repairs over around 25 years are the best you can get in the business, and offering that kind of warranty is one indication of a good company.
- Solar Panel Brands: Different companies carry different brands and kinds of panels. If you prefer a specific brand, make sure the solar installer you’re considering has it.
- Installation Process: Make sure you’re on the same page with the company with regard to how the installation process will go and what needs to be done before your solar panels are installed, such as updating or replacing your electrical system or roof.
- Contract: It’s important to read through your solar installer’s contract thoroughly to understand what services they will provide, what the warranty covers and what expectations you should have about the project timeline.
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
Best Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
EcoWatch's Roscoe, IL Solar Cost FAQs
How much does it cost to install solar panels in Roscoe?
This is a tough question to answer precisely, because the cost depends on many factors. Broadly 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 cost more if you want additional solar equipment or more efficient panels, or if you have above-average energy consumption. On the other hand, you can spend less if you want a smaller solar panel system or less efficient solar panels.
Is it better to lease or buy solar panels in Roscoe?
Leasing solar panels can be an option if you can’t pay upfront or secure a solar loan, but since you don’t own the system, you can’t take advantage of many solar incentives. Also your home value won’t increase, so you’ll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most financial benefits from going solar.
Does Roscoe have a net metering program?
The majority of states have net metering programs of some kind. Through these, you can get paid for the extra power your system generates or or receive credits to put toward future energy bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.
How often do you have to replace solar panels?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can choose to replace them once you've had them for that long or you can keep using them at a lower efficiency.
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.