Solar Panel Cost Guide in Shorewood, IL (Feb 2023)
- Shorewood Solar Installation Cost: $12,345
- 25-Year Savings: $10,267
- Payback Period: 13.6 Years
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Top Solar Installers in Shorewood
When making the switch to solar, many homeowners decide to use a solar installer since putting up solar panels yourself can be a time-consuming project. Some solar companies, especially local ones, can help you take advantage of incentives in Shorewood, thereby optimizing your ROI.
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 in Shorewood:
See all of the solar companies in Shorewood
Factors that Affect Solar Panel Costs in Shorewood
There are many criteria that can affect your installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar panels.
One of the most important 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 power your household consumes, the larger your system will likely need to be. You can expect to spend about $2,730 per kilowatt in Shorewood. Some solar panel brands — like Maxeon from SunPower — are more costly upfront but also tend to offer better efficiency. In a city like Shorewood, where sunlight is relatively abundant, efficiency can quickly pay off. Plus, if you have a small roof or limited 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
Solar panels can save you money on utility bills over many years, but they can also be a significant investment. That's why many Shorewood homeowners decide to finance their solar panel systems to make going solar more affordable. It's wise to factor the interest you'll pay in your final cost estimate. If you can afford to pay a larger down payment, you can reduce your total costs and the amount of time it'll take to pay back the loan.
Solar Panel Installation Company
The solar installer you choose will impact your total cost to make the switch to solar energy. Different companies will bill different amounts for the equipment and labor. The company's size sometimes plays the most considerable role in the cost. Larger national companies, like SunPro and Sunrun, often have lower pricing because they have more resources and bulk pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or promotion can bring their pricing lower to compete with bigger 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||$9,083||14.2 years|
|8 kW||$2.78||$15,594||$12,417||13.9 years|
|10 kW||$2.73||$19,110||$15,904||13.6 years|
|12 kW||$2.68||$22,473||$19,543||13.4 years|
|14 kW||$2.62||$25,684||$23,335||13.1 years|
|16 kW||$2.57||$28,741||$27,280||12.8 years|
|18 kW||$2.51||$31,646||$31,378||12.6 years|
|20 kW||$2.46||$34,398||$35,629||12.3 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:
- Warranty: If you're worried about the durability of your solar energy system, ensuring your company offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Reputation: Your solar installer should have a solid reputation as a company and have proven expertise in the field. Two ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from past customers.
- Solar Panel Brands: Not all solar installers carry the same brands of solar panels, so the brand and type of panel you want can play a substantial role in the company you hire.
- Contract: Although reading through a contract can take a lot of time, it's important to do it carefully so you can be sure you understand what services your solar company will provide and the terms of the warranty.
EcoWatch's Shorewood, IL Solar Cost FAQs
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.