Solar Panel Cost Guide in Rosemont, IL (2024 Update)
- Rosemont Solar Installation Cost: $16,818
- 25-Year Savings: $10,400
- Payback Period: 18.6 Years
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Updated February 03, 2024
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Average Cost of Solar Panels in Rosemont
Let’s have a look at the average cost of solar panels in Rosemont.
Although the national average of solar panels is $2.66 per watt, solar panels in Rosemont typically cost around 4.To cover the typical energy usage of the average home in Rosemont, most homeowners require a 6.4-kilowatt system. Using the figure above, a solar installation costs around $16,818, or $24,050 before the federal solar tax credit of 0 is applied.
The true cost of your system can go above or below the average in Rosemont depending on a variety of factors, such as the kind of solar panels you choose and the solar contractor you hire.Many homeowners find adopting solar power is a fruitful investment. The average homeowner in Rosemont can save around $13,000 on their power bills over 20 years.
To calculate your potential savings and connect with a local solar installer, click the button below.
Solar savings over time in Rosemont
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 Rosemont
Installing solar panels yourself can be a stressful project, which is why using a solar installer is a good option for many homeowners. The payback period on a solar system will vary based on factors like your roof configuration and energy consumption, but going with a solar installer can shorten it. Your provider will be able to help you apply for incentives available in your area.
You can work with a local solar installer to get a free quote on the cost of solar panels for your home. Here are some nearby:
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 Rosemont
Factors that Affect Solar Panel Costs in Rosemont
There are several criteria that can play into your solar panel installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar system.
Solar Equipment
When it comes to estimating the cost of a solar system in Rosemont, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are chiefly based on your home’s energy consumption, which you can figure out by looking at past electricity bills. Your overall cost can increase by around $3,760 for each additional kilowatt you need.The brand and kind of equipment you want for your solar system can raise or lower the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these are often more expensive than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have a small roof or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to more savings over time. Also, if you want extra equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
Solar panels can save you money on power bills over many years, but they can also be a significant investment. That’s why many Rosemont homeowners choose to finance their solar panel systems to make paying for solar more affordable.You’ll have to consider the long-term cost of financing options, including the total 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 above the equipment and labor cost. Making a larger down payment or finding a solar loan with a low interest rate could reduce your costs remarkably.
Solar Panel Installation Company
A final consideration when trying to evaluate the cost of solar for your home or business in Rosemont is the company you choose to install your solar system. Similar to choosing a company to renovate your kitchen, for example, there are plenty of solar installers that offer a range of services for different budgets.Additionally, some companies in Rosemont are more knowledgeable 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 | $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:
- Installation Process: When making the switch to solar energy, it’s necessary to keep an open line of communication with your solar panel installer. Confirm that you understand how the installation process will go and the project timeline.
- Reputation: Companies that have been in business for many years likely have a good reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide quality aftercare and customer service, such as part repairs and replacements.
- Warranty: An all-inclusive, long-term warranty can help keep your solar panel system running for a long time and save you money on repairs and maintenance.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their roof configurations and energy needs. While there are many options for which kind of solar panel you can get, not every company will have access to the exact one you may want or need, so make sure you take a look at their list of options before deciding.
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 Rosemont, IL Solar Cost FAQs
How much does it cost to install solar panels in Rosemont?
The average cost of solar panels in Rosemont 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 things such as the type of solar panels you want, what size system you need and how much energy you use.
Are solar panels free in Rosemont?
A solar panel system isn’t free in Rosemont, but there are some options that can make getting them more viable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that you can take advantage of.
Can you sell solar power back to the grid in Rosemont?
Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just give you credit toward your future energy bills.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy needs and how much sunlight your roof gets. You can 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 account for 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.