Solar Panel Cost Guide in Saratoga, IL (2023 Update)
- Saratoga Solar Installation Cost: $12,298
- 25-Year Savings: $10,314
- Payback Period: 13.6 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Saratoga
Find out what the average cost of solar panels are in Saratoga.
Although the national average of solar panels is $2.66 per watt, solar panels in Saratoga typically cost around 2.73. Using this figure, a typical 6.4-kW system would cost about $12,307 before the 30% federal solar tax credit is applied.
The true price you pay can be higher or lower than the average in Saratoga based on a variety of factors, such as the brand of solar panels you choose and the solar company you hire. But, once you've paid the upfront cost of installation, the payback for most homeowners is usually rewarding, with a net average savings of about $13,000 over 20 years on utility bills.
Click the button below to get connected to a top solar company in Saratoga for a personalized estimate.
Solar savings over time in Saratoga
| Year | Return on Investment |
|---|---|
| 1 years | $-12,222 |
| 3 years | $-12,072 |
| 5 years | $-11,921 |
| 7 years | $-11,770 |
| 9 years | $-11,619 |
| 11 years | $-11,469 |
| 13 years | $-11,318 |
| 15 years | $-11,167 |
| 17 years | $-11,016 |
| 19 years | $-10,866 |
| 21 years | $-10,715 |
| 23 years | $-10,564 |
| 25 years | $-10,413 |
Top Solar Installers in Saratoga
Many homeowners choose to use a solar installation company since trying to install solar panels by yourself can be a labor-intensive endeavor. Another upside of going with a solar installer is that they can help you optimize your ROI by reducing your future costs of repairs and replacements because of warranties and helping you learn about local incentives you can take advantage of.
You can get a free quote from a local solar installer on the cost of solar panels for your home. Here are some nearby:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
See all of the solar companies in Saratoga
Factors that Affect Solar Panel Costs in Saratoga
The cost of installing a solar system in Saratoga can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The biggest one is your system size, and other factors include the equipment you choose, financing options and the solar company you choose.
Solar Equipment
When it comes to estimating the price of a solar energy system in Saratoga, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are primarily based on your home's energy usage, which you can determine by looking at past electricity bills. Your overall cost can increase by about $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 Saratoga, where sunlight is relatively abundant, efficiency can quickly pay off. In addition, if you have a small roof or limited space for your panels, higher efficiency options will be a better option. 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 Saratoga to be prohibitively costly, even if the investment pays off over time. Thankfully, nearly every solar installer in the area provides access to financing options. Solar loans greatly decrease upfront costs for most homeowners, but they also lead to higher prices over time due to interest. However, the interest on solar loans also increases your all-in costs, so it's vital to consider that as well. You can always reduce the total you pay in interest and in some cases even your APR by making a larger down payment.
Solar Panel Installation Company
The solar installer you choose to handle your switch to sustainable energy can have an effect on your total costs. There are about 3 solar panel companies operating throughout Saratoga, and each can charge varying amounts for labor and equipment. You may come across national solar installers that have lower prices because of their larger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or promotions to compete with those larger companies.
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 | $9,158 | 14.1 years |
| 8 kW | $2.78 | $15,594 | $12,516 | 13.9 years |
| 10 kW | $2.73 | $19,110 | $16,027 | 13.6 years |
| 12 kW | $2.68 | $22,473 | $19,691 | 13.3 years |
| 14 kW | $2.62 | $25,684 | $23,508 | 13.1 years |
| 16 kW | $2.57 | $28,741 | $27,478 | 12.8 years |
| 18 kW | $2.51 | $31,646 | $31,601 | 12.5 years |
| 20 kW | $2.46 | $34,398 | $35,877 | 12.2 years |
How to Save on Solar Panels
There are numerous companies available in Saratoga, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be challenging, so here are some tips to help you decide:
- Warranty: An all-inclusive, 25-year warranty can help keep your solar panels running for years to come and save you money on part replacement and repairs.
- Solar Panel Brands: Different companies will have different brands and kinds of panels. If you prefer a specific brand, make sure the solar panel installer you're considering has it.
- Contract: Before signing a contract with a solar company, make sure you look it over completely so you understand the terms. Also, ask questions if you're not sure about some of the terms, such as what the warranty covers and what services you can expect from them.
- Reputation: Companies that have been in business 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 quality aftercare and customer service, such as part repairs and replacements.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Saratoga, IL Solar Cost FAQs
What is the average cost of installing solar panels in Saratoga?
This is a tough question to answer precisely, 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 cost more if you want additional solar equipment or higher quality panels, or if you have higher-than-average energy usage. Conversely, you can spend less if you choose a smaller solar panel system or less expensive solar panels.
Can you get solar panels for free in Saratoga?
A solar panel system isn't free in Saratoga, but there are some options that can make getting them more affordable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that you can take advantage of.
How much can I save on power bills after switching to solar?
Solar panels can potentially eliminate your electricity bills depending on where you're located and the efficiency of your system. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $702.75 per year.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy usage and the amount of 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 buy between 20 and 35 panels to cover 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.