Solar Panel Cost Guide in Roscoe, IL (2023 Update)
- Roscoe Solar Installation Cost: $12,460
- 25-Year Savings: $13,486
- Payback Period: 12.0 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Roscoe
Let's have a look at the average cost of solar in Roscoe.
In Roscoe, solar panels cost about 2.73 per watt on average. The average solar panel system size in Roscoe is around 6.5 kilowatts, meaning a cost of about $12,460 for a solar installation, or $17,818 before the 30% federal solar tax credit is applied.
How much you pay can go above or below the average in Roscoe based on a variety of factors, such as the model of solar panels you choose and the solar contractor you hire. Despite the significant initial cost, the average Roscoe homeowner can save around $15,000 on their energy bills over 20 years, which is one of the positives of solar.
Click the button below to get connected to a top solar installer in Roscoe for a personalized estimate.
Solar savings over time in Roscoe
| Year | Return on Investment |
|---|---|
| 1 years | $-11,422 |
| 3 years | $-9,346 |
| 5 years | $-7,271 |
| 7 years | $-5,195 |
| 9 years | $-3,119 |
| 11 years | $-1,043 |
| 13 years | $1,032 |
| 15 years | $3,108 |
| 17 years | $5,184 |
| 19 years | $7,259 |
| 21 years | $9,335 |
| 23 years | $11,411 |
| 25 years | $13,486 |
Top Solar Installers in Roscoe
Putting up solar panels on your own can be a stressful project, which is why getting a solar installation company is a good option for many homeowners. The expertise that solar installers provide can be valuable as well, especially if you don't quite know what brand of solar equipment you need.
If you'd like to start using solar energy but still aren't sure which solar panel company to go with, here are our recommendations for providers near you:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
See all of the solar companies in Roscoe
Factors that Affect Solar Panel Costs in Roscoe
For many Roscoe homeowners, the decision to install solar panels comes down to 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 greatly influence the price you'll pay, which we'll go over below.
Solar Equipment
When it comes to estimating the cost of a solar panel system in Roscoe, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home's energy usage, which you can figure out by looking at past power bills. Your total cost can increase by around $2,730 for each additional kilowatt you need. Some solar brands — like Maxeon from SunPower — cost more upfront but also tend to offer higher efficiency. In a city like Roscoe, where sunlight is relatively abundant, efficiency can quickly pay off. Plus, if you have a small roof or you don't have a lot of space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Solar panels can save you money on utility bills over time, but they can also be a big investment. That's why many Roscoe homeowners decide to finance their solar panel systems to offset upfront costs. It's wise to include the interest you'll pay in your final cost estimate. If you can afford to pay a higher down payment, you can reduce your total costs and the amount of time it'll take to pay back the loan.
Solar Panel Installation Company
The solar company you hire to handle your switch to solar energy can play a role in your total costs. There are about 3 solar panel companies operating in Roscoe, and each can charge varying amounts for labor and equipment. Companies that only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come at a higher cost. It's best to do some research and decide on the company that has 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 | $2.84 | $11,925 | $11,943 | 12.5 years |
| 8 kW | $2.78 | $15,594 | $16,230 | 12.3 years |
| 10 kW | $2.73 | $19,110 | $20,670 | 12.0 years |
| 12 kW | $2.68 | $22,473 | $25,262 | 11.8 years |
| 14 kW | $2.62 | $25,684 | $30,008 | 11.5 years |
| 16 kW | $2.57 | $28,741 | $34,906 | 11.3 years |
| 18 kW | $2.51 | $31,646 | $39,958 | 11.0 years |
| 20 kW | $2.46 | $34,398 | $45,162 | 10.8 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 pick the right company for you, here are some tips to keep in mind:
- Contract: Look through the contract terms closely to make sure you understand the total cost, completion timeline incentives and warranties.
- Installation Process: One of the most important things to understand when adopting solar energy is the installation process itself. Be sure to clarify any details you should know with your solar company, such as what permits you should acquire and what the project timeline is.
- Reputation: Companies that have been operating for many years likely have a solid reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide adequate aftercare and customer service, such as part repairs and replacements.
- Solar Panel Brands: Different companies will carry different brands and types of panels. If you know you want a specific brand, make sure the solar panel installer you're considering has it.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
EcoWatch's Roscoe, IL Solar Cost FAQs
How much does it cost to install solar panels in Roscoe?
This is a difficult question to answer precisely, because the cost depends on a few different factors. Broadly speaking, it costs about $13,650 for a 5-kW system and $27,300 for a 10-kW system after the ITC is applied. You can expect to pay more if you want other solar equipment or higher quality panels, or if you have above-average energy usage. Conversely, you can spend less if you go with a smaller solar panel system or less efficient solar panels.
Is cost the most important thing to consider when buying solar panels?
Cost is definitely one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
Do solar panels increase your property value?
Installing solar panels on your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Roscoe is currently $160,279, which means you can expect a value of about $6,571 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Roscoe is a fruitful investment.
How often do you have to replace solar panels?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger 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.