Solar Panel Cost Guide in Shields, IL (2024 Update)
- Shields Solar Installation Cost: $16,643
- 25-Year Savings: $10,528
- Payback Period: 18.4 Years
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Average Cost of Solar Panels in Shields
Find out how much it might cost to go solar in Shields.
The national average cost of solar panels is $2.66 per watt, but in Shields it’s 4 per watt.Because a 6.3-kW system is needed to cover the energy needs of a typical home in Shields, the average price of going solar will be about $16,643 after claiming the federal solar tax credit of 0.
These figures are just estimates, and your own solar costs will most likely differ based on your energy needs and what company you choose to go with.For most homeowners, the upfront investment in solar is worth paying. On average homeowners in Shields see about $14,000 in savings on utility bills over 20 years.
To get a free estimate from a pre-vetted solar installation company in Shields, you can click the button below.
Solar savings over time in Shields
Year | Return on Investment |
---|---|
1 years | $-15,487 |
3 years | $-13,174 |
5 years | $-10,862 |
7 years | $-8,550 |
9 years | $-6,237 |
11 years | $-3,925 |
13 years | $-1,612 |
15 years | $700 |
17 years | $3,012 |
19 years | $5,325 |
21 years | $7,637 |
23 years | $9,949 |
25 years | $12,262 |
Top Solar Installers in Shields
When making the switch to solar, many homeowners choose to go with a solar installation company since handling can be a time-consuming project. Some solar companies, especially local ones, can help you make the most of incentives in Shields, optimizing your ROI.
There are a number of licensed solar professionals that can help you install your solar system. Here are our suggestions:
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
Best Technology
Tesla Energy
- 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 Shields
Factors that Affect Solar Panel Costs in Shields
Cost is typically one of the most important factors for homeowners who want to invest in solar. There are a few key factors that affect your total cost in Shields: solar equipment and system size, financing options and the solar installation company you choose. We’ll go over each of these briefly below.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a variety of factors. One of the main factors is the system size, which is measured in kilowatts (kW). Solar power systems that have higher efficiency or power production require better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $3,760.There are many different solar panel brands and the one you pick also affects the cost. In many cases, the brands that offer higher efficiency tend to also cost more. Additionally, the type of equipment you’re looking to install can affect your total cost. If you just need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Many homeowners find the average cost of solar in Shields to be prohibitively steep, even if the investment pays off over time. Thankfully, nearly every solar installer in the area offers financing options. Solar loans greatly decrease upfront costs for most homeowners, but they also lead to paying more over time due to interest.You’ll have to consider the long-term cost of loans, 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 securing a solar loan with a low interest rate could reduce your costs considerably.
Solar Panel Installation Company
The final major cost factor you should consider is the installer you choose. Given the booming popularity of renewable energy solutions in Shields, you’ll have lots of options to choose from, but each comes at different price points for labor and equipment.Additionally, some companies in Shields 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 end up saving you 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 | $5,032 | 19.1 years |
8 kW | $3.84 | $21,477 | $7,130 | 18.8 years |
10 kW | $3.76 | $26,320 | $9,439 | 18.4 years |
12 kW | $3.68 | $30,952 | $11,959 | 18.0 years |
14 kW | $3.61 | $35,374 | $14,689 | 17.7 years |
16 kW | $3.53 | $39,585 | $17,630 | 17.3 years |
18 kW | $3.46 | $43,586 | $20,781 | 16.9 years |
20 kW | $3.38 | $47,376 | $24,143 | 16.6 years |
How to Save on Solar Panels
There are a large number of companies available in Shields, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be tough, so here are some tips to help you decide:
- Contract: Review the contract terms closely to make sure you understand the total cost, project timeline incentives and warranties.
- Solar Panel Brands: Not all solar installers have the same brands of solar panels, so the brand and type of panel you want can play a substantial role in the company you opt for.
- Installation Process: When making the switch to solar energy, it’s essential to keep an open line of communication with your solar installer. See to it that you understand how the installation process will go and the completion timeline.
- Reputation: Make sure your solar system installer has a good reputation by verifying it has certifications and licenses, checking how long it's been in business and reading reviews by previous customers and solar experts like EcoWatch.
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
Best Technology
Tesla Energy
- 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 Shields, IL Solar Cost FAQs
What is the average cost of installing solar panels in Shields?
The average cost of solar panels in Shields is about $18,800 for a 5-kW system and $37,600 for a 10-kW system before the ITC, but the actual 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.
What other factors should I consider other than cost when buying solar panels?
Cost is definitely one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Is switching to solar power worth it?
Solar panels can be a great investment for a majority of homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your electricity bills are already reasonably low, solar panels might not be for you.
How long do solar panels last in Shields?
On average, the lifespan of solar panels is 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 higher level 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.