Solar Panel Cost Guide in Seward, IL (2023 Update)
- Seward Solar Installation Cost: $12,384
- 25-Year Savings: $10,680
- Payback Period: 13.4 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Seward
Here's how much it might cost to install solar panels in Seward.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Seward, the average cost of a solar system is 2.73 per watt. Using this figure, a typical 6.5-kW system would cost about $12,383 before the 30% federal solar tax credit is applied.
These figures are only averages, and the cost of going solar for you will most likely differ based on the amount of energy your home requires and what company you go with. For most homeowners, the upfront investment in solar power is worth paying. On average you could be looking at about $14,000 in savings on utility bills over 20 years.
To calculate your potential savings and connect with a local solar company, click the button below.
Solar savings over time in Seward
| Year | Return on Investment |
|---|---|
| 1 years | $-12,307 |
| 3 years | $-12,153 |
| 5 years | $-11,999 |
| 7 years | $-11,845 |
| 9 years | $-11,692 |
| 11 years | $-11,538 |
| 13 years | $-11,384 |
| 15 years | $-11,230 |
| 17 years | $-11,077 |
| 19 years | $-10,923 |
| 21 years | $-10,769 |
| 23 years | $-10,615 |
| 25 years | $-10,462 |
Top Solar Installers in Seward
Although you can install solar panels yourself, it takes extra labor and knowledge. For that reason, almost all homeowners choose to hire a solar panel installer. Companies can also have access to a large variety of the best solar panels and help you pick which one will be best for you.
Working with a licensed solar installer can make going solar easier. Here are our recommendations:
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 Seward
Factors that Affect Solar Panel Costs in Seward
The cost of installing a solar system in Seward can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The most significant one is your system size, and other factors include the equipment you choose, financing options and the solar company you choose.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more energy your household consumes, the larger your system will likely need to be. You can expect to pay around $2,730 per kilowatt in Seward. The kind of solar panels and equipment you get is another factor that will largely impact costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to come at a higher price. Moreover, solar equipment goes beyond just the solar panels themselves. You'll also need to think about the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when looking into a solar system that's in your budget.
Solar Financing Terms
Most solar installers in Seward offer solar loans, which reduce the initial cost of installing solar. You'll have to consider the long-term cost of loans, including the amount of 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 more than the original cost. Making a larger down payment or getting a solar loan with a low APR could reduce your costs significantly.
Solar Panel Installation Company
Finally, the company you opt for to install your solar panel system can affect the cost. Seward's solar companies all have different labor costs and add varying upcharges to equipment. Some companies only sell high-efficiency and high-priced products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come with an above-average cost. It's best to do some research and go with the company that offers the products, warranties and services you're looking for and also fits within 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 | $9,430 | 14.0 years |
| 8 kW | $2.78 | $15,594 | $12,879 | 13.7 years |
| 10 kW | $2.73 | $19,110 | $16,481 | 13.4 years |
| 12 kW | $2.68 | $22,473 | $20,236 | 13.2 years |
| 14 kW | $2.62 | $25,684 | $24,144 | 12.9 years |
| 16 kW | $2.57 | $28,741 | $28,204 | 12.6 years |
| 18 kW | $2.51 | $31,646 | $32,418 | 12.3 years |
| 20 kW | $2.46 | $34,398 | $36,784 | 12.1 years |
How to Save on Solar Panels
There are many companies to choose from in Seward, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be challenging, so here are some tips to help you decide:
- Contract: Though reading through a contract can take a lot of time, it's important to do it carefully so you can make sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and energy needs. While there are many options for which brand of solar panel you can get, not every company will have the exact one you may want or need, so be sure to ask for their list of options before deciding.
- Reputation: Make sure your solar panel installer has a good reputation by verifying it has certifications and licenses, checking how long it's been in business and reading reviews by past customers and solar experts like EcoWatch.
- Installation Process: An important thing to understand when going solar is the installation process itself. Be sure to align on any details you should know with your solar installer, such as what permits you should secure and what the project timeline is.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Seward, IL Solar Cost FAQs
What is the average cost of installing solar panels in Seward?
The average cost of solar panels in Seward is about $13,650 for a 5-kW system and $27,300 for a 10-kW system before the ITC, but the real cost will depend on stuff such as the model of solar panels you want, what size system you need and how much energy you consume.
Is it better to lease or buy solar panels in Seward?
Leasing solar panels can be an option if you can't afford to 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 savings from going solar.
Does Seward have a net metering program?
Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just offer you credit toward your future power bills.
What solar power system size is right for my home?
To figure out what solar panel system size you need, you need to know how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can typically produce about 250 to 400 watt-hours per hour, the average household will need 20 to 35 panels.
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.