Solar Panel Cost Guide in Skokie, IL (Jan 2023)
- Skokie Solar Installation Cost: $12,211
- 25-Year Savings: $10,400
- Payback Period: 13.5 Years
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Top Solar Installers in Skokie
Many homeowners opt for a solar panel installer since installing solar panels on your own can be a lot of work. Plus, warranties and repairs from your solar panel installer can protect your investment and reduce the cost of maintenance in the long run.
If you'd like to go solar but still aren't sure which solar panel installer to go with, here are our suggestions for providers near you:
See all of the solar companies in Skokie
Factors that Affect Solar Panel Costs in Skokie
For many Skokie homeowners, the decision to go solar rests on cost. However, the range of solar installation costs can be quite wide in Skokie, with typical prices between $20,000 to $40,000. There are various factors that considerably influence the price you'll pay, which we'll go over below.
System size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of installing solar panels. That's why it's crucial to accurately assess the size of the solar energy system needed for your home by figuring out your average energy use. The model of solar panels and equipment you get is another factor that will substantially influence costs. Solar panels that are more efficient, like monocrystalline panels, tend to cost more. Further, 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 researching a solar system that falls within your budget.
Solar Financing Terms
If paying for a solar system out of pocket is difficult, solar loans are a solid option because they reduce your upfront costs and allow you to pay for your system over five to seven years on average. While solar loans make switching to solar energy more accessible for Skokie homeowners, they can also increase the total you pay for your system due to interest. If you put down a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
A final consideration when trying to figure out the cost of solar for your home or business in Skokie is the company you hire to install your PV system. Similar to choosing a company to install new cabinets, for instance, there's no shortage of solar installers that offer a range of services for different budgets. 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 at a higher cost. It's best to do some research and go with the company that provides the products, warranties and services you want and also fit into 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||$9,307||14.0 years|
|8 kW||$2.78||$15,594||$12,715||13.8 years|
|10 kW||$2.73||$19,110||$16,276||13.5 years|
|12 kW||$2.68||$22,473||$19,990||13.2 years|
|14 kW||$2.62||$25,684||$23,856||13.0 years|
|16 kW||$2.57||$28,741||$27,876||12.7 years|
|18 kW||$2.51||$31,646||$32,048||12.4 years|
|20 kW||$2.46||$34,398||$36,374||12.2 years|
How to Save on Solar Panels
Since the model of solar panels and the company you choose considerably affects your costs and your system's durability and efficiency, it's important to select the right ones for you. Here are some tips to keep in mind to help with your decision:
- Contract: It's important to read through your solar installer's contract closely to understand what services they will provide, what the warranty covers and what expectations you should have about your solar system's energy production.
- 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 big role in the company you hire.
- Installation Process: Make sure you're on the same page with the installer regarding how the installation process will go and what you need to do before your solar panels are installed, such as repairing your electrical system or roof.
- Reputation: Make sure your solar installer has a good reputation by confirming it has certifications and licenses, checking how long it's been in business and reading reviews by previous customers and solar experts like EcoWatch.
EcoWatch's Skokie, 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.