Solar Panel Cost Guide in Skokie, IL (2024 Update)

  • Skokie Solar Installation Cost: $16,818
  • 25-Year Savings: $10,400
  • Payback Period: 18.6 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated February 03, 2024

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We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Skokie

See how much it might cost to go solar in Skokie.

The national average cost of solar panels is $2.66 per watt, but in Skokie it’s 4 per watt.The average solar panel system size in Skokie is around 6.4 kilowatts, meaning a cost of about $16,818 for a solar installation, or $24,050 before the 0 federal solar tax credit is applied.

Remember that the numbers above are only averages. The price you’ll end up paying for solar may look quite different based on your household energy needs, the type of equipment you choose, your solar contractor and more.With typical savings of about $13,000 on energy bills over 20 years, many homeowners in Skokie find installing solar panels can pay off big.

To get a free estimate from a highly rated solar installer in Skokie, you can click the button below.

Solar savings over time in Skokie

Year Return on Investment
1 years $-15,662
3 years $-13,350
5 years $-11,038
7 years $-8,725
9 years $-6,413
11 years $-4,100
13 years $-1,788
15 years $524
17 years $2,837
19 years $5,149
21 years $7,461
23 years $9,774
25 years $12,086

Top Solar Installers in Skokie

Putting up solar panels by yourself can be a stressful undertaking, which is why hiring a solar installer is a good option for many homeowners. Solar installers provide key benefits that can help you get the most out of your investment, like warranties, monitoring and free repairs.

You can work with a local solar installer to get a free estimate on the cost of solar panels for your home. Here are some near you:

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

Best for Leasing

Sunrun

★★★★★
4.0

  • Expansive service area
  • Many financing options
  • Some reported issues with customer service
  • Some reported issues with door-to-door sales

See all of the solar companies in Skokie

Factors that Affect Solar Panel Costs in Skokie

There are several criteria that can play into your solar system installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that performs the installation.

Solar Equipment

When it comes to estimating the price of solar panels in Skokie, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are chiefly based on your home’s energy usage, which you can determine by looking at past power bills. Your overall cost can increase by about $3,760 for each additional kilowatt you need.There are several different solar panel brands and the one you choose also changes 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 only 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 Skokie to be prohibitively expensive, even if the investment pays off over time. Fortunately, almost every solar company in the area provides access to financing options. Solar loans remarkably decrease upfront costs in most cases, but they also result in paying more over time because of interest.It’s wise to include the interest you’ll pay in your final cost estimate. If you can afford to pay a higher 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

A final factor to keep in mind when trying to figure out the cost of solar for your home or business in Skokie is the company you choose to install your solar panel system. As with choosing a company to install new cabinets, for instance, there are plenty of solar installers that provide a range of services at different costs.Larger national companies usually have lower costs, but some local companies compete with them by offering sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or additional services like electric vehicle charger installation, they might be cheaper overall.

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 $4,808 19.3 years
8 kW $3.84 $21,477 $6,832 19.0 years
10 kW $3.76 $26,320 $9,066 18.6 years
12 kW $3.68 $30,952 $11,511 18.2 years
14 kW $3.61 $35,374 $14,166 17.9 years
16 kW $3.53 $39,585 $17,032 17.5 years
18 kW $3.46 $43,586 $20,109 17.1 years
20 kW $3.38 $47,376 $23,396 16.7 years

How to Save on Solar Panels

The solar panel company you choose will be a major factor in determining not only your overall costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are several important things you should take into account, such as:

  • 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 considerable role in the company you choose.
  • Contract: Before you sign a contract with a solar company, be sure to read it through fully so you understand the terms. Also, ask questions if you aren’t sure about some of the terms, such as what the warranty covers and if there are any guarantees about energy production.
  • Warranty: A comprehensive, 25-year warranty can help keep your solar system running for years to come and save you money on part replacement and repairs.
  • Installation Process: Homeowners should make sure they know how exactly the installation process will go, as well as important factors like the project completion timeline.

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

Best for Leasing

Sunrun

★★★★★
4.0

  • Expansive service area
  • Many financing options
  • Some reported issues with customer service
  • Some reported issues with door-to-door sales

EcoWatch's Skokie, IL Solar Cost FAQs

How much does it cost to install solar panels in Skokie?

The average cost of solar panels in Skokie 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 kind of solar panels you want, what size system you need and how much energy you use.

Is cost the most important thing to think about when buying solar panels?

Cost is without a doubt one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.

Do solar panels increase your property value?

Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Skokie is currently $361,013, which means you could be looking at a value of about $14,802 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Skokie is a worthwhile investment.

How often do you have to replace solar panels?

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 larger amount 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.

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