Solar Panel Cost Guide in Round Lake, IL (Dec 2022)

  • Round Lake Solar Installation Cost: $12,078
  • 25-Year Savings: $10,534
  • Payback Period: 13.4 Years

See cost of a solar system near you:

EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated December 8, 2022

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Average Cost of Solar Panels in Round Lake

Find out how much it might cost to go solar in Round Lake.

The national average cost of solar panels is $2.66 per watt, but in Round Lake it's $3 per watt. Since a 6.3-kW system is needed to cover the energy needs of a typical home in Round Lake, the average price of going solar will be about $12,078 before claiming the federal solar tax credit of 30%.

These figures are only estimates, and the cost of going solar for you will look different based on your specific situation and what company you choose to go with. For many homeowners, the upfront cost of solar panels is worth paying. On average Round Lake homeowners see about $14,000 in savings on utility bills over 20 years.

To get a free quote from a highly rated solar installation company in Round Lake, you can click the button below.

Solar savings over time in Round Lake

Year Return on Investment
1 years $-11,173
3 years $-9,364
5 years $-7,555
7 years $-5,746
9 years $-3,937
11 years $-2,128
13 years $-319
15 years $1,490
17 years $3,298
19 years $5,107
21 years $6,916
23 years $8,725
25 years $10,534

Top Solar Installers in Round Lake

Although you can install solar panels on your own, it involves extra time and handiness. That's why almost all homeowners choose to go with a solar panel installer. A solar installer can also help save you money over time by offering warranties, repairs and component replacements.

If you'd like to go solar but still aren't sure which solar company to go with, here are our recommendations for providers in Round Lake:

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries (coming 2022)

Best Technology

Tesla Energy

★★★★★
4.5

  • Price-match guarantee
  • Sleek, efficient, and durable solar panels
  • Best solar battery on the market
  • Some reported issues with customer service
  • Customer service varies by local dealer

See all of the solar companies in Round Lake

Factors that Affect Solar Panel Costs in Round Lake

For many Round Lake homeowners, the decision to install a solar energy system rests on cost. However, the range of solar installation costs can be quite wide in Round Lake, with typical prices between $20,000 to $40,000. There are several factors that significantly influence the price you'll pay, which we'll go over below.

Solar Equipment

One of the most significant factors to consider when it comes to the cost of adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more power your household uses, the larger your system will likely need to be. You can expect to pay around $2,730 per kilowatt in Round Lake. Some solar brands — like Maxeon from SunPower — cost more upfront but also tend to offer better efficiency. In a city like Round Lake, where sunlight is relatively abundant, efficiency can quickly pay off. In addition, 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

Many homeowners find the average cost of solar in Round Lake to be too costly, even if the investment pays off over time. Thankfully, almost every solar installer in the area provides financing options. Solar loans remarkably decrease upfront costs for most homeowners, but they also lead to a higher cost over time because of interest. While solar loans make switching to solar energy more accessible for Round Lake homeowners, they can also increase the total you pay for your system, depending on your interest rate. If you put down a larger down payment, though, you can avoid paying as much in interest.

Solar Panel Installation Company

The solar installer you opt for to handle your switch to renewable energy can have an effect on your total costs. There are about 3 solar installation companies operating throughout Round Lake, and each can charge different amounts for labor and equipment. Additionally, some companies in Round Lake know more about local solar incentives and can help you learn about additional rebates or tax exemptions. However, 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 $2.84 $11,925 $9,531 13.9 years
8 kW $2.78 $15,594 $13,014 13.6 years
10 kW $2.73 $19,110 $16,649 13.4 years
12 kW $2.68 $22,473 $20,438 13.1 years
14 kW $2.62 $25,684 $24,379 12.8 years
16 kW $2.57 $28,741 $28,473 12.6 years
18 kW $2.51 $31,646 $32,721 12.3 years
20 kW $2.46 $34,398 $37,121 12.0 years

How to Save on Solar Panels

Since the model of solar panels and the company you choose significantly affects your costs and your system's efficiency, production, and durability, it's important to select the right ones for you. Here are some tips to keep in mind to help with your decision:

  • Contract: When reading through your solar company's contract, ask for clarification about any terms you're not sure of and be sure you understand what happens in scenarios like a system component breaking or if the company goes out of business.
  • 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 big role in the company you go with.
  • Installation Process: An important thing to understand when going solar is the installation process itself. Be sure to clarify any details you need to know with your solar installer, such as what permits you should secure and how long the project will take.
  • Reputation: Solar panel companies that have great reviews from their customers and that have been operating for many years likely offer quality solar panel installation and expertise.

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries (coming 2022)

Best Technology

Tesla Energy

★★★★★
4.5

  • Price-match guarantee
  • Sleek, efficient, and durable solar panels
  • Best solar battery on the market
  • Some reported issues with customer service
  • Customer service varies by local dealer

EcoWatch's Round Lake, IL Solar Cost FAQs

What is the average cost of installing solar panels in Round Lake?

This is a tough question to answer exactly, because the cost depends on many 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. It will be more expensive if you want other solar equipment or higher quality panels, or if you have higher-than-average energy usage. On the flip side, you can spend less if you want a smaller solar panel system or less expensive solar panels.

Can you get solar panels for free in Round Lake?

You can't get solar panels for free in Round Lake. However, you may still be able to get them on a lower budget. You can lease solar panels for a low upfront cost or, if you want to own your solar panels, you can finance them with a solar loan.

Can you sell solar power back to the grid in Round Lake?

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 utility bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.

How long do solar panels last in Round Lake?

Although 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 how much energy they produce will have decreased significantly after that point. You can replace them after having them for that long or you can continue to use 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.

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