Solar Panel Cost Guide in South Elgin, IL (Dec 2022)

  • South Elgin Solar Installation Cost: $12,479
  • 25-Year Savings: $11,392
  • Payback Period: 13.1 Years

See cost of a solar system near you:

EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 11/09/2022

Why you can trust EcoWatch

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 South Elgin

We break down average solar pricing in South Elgin.

In South Elgin, solar panels cost about $3 per watt on average. To cover the typical energy usage of the average home in South Elgin, most homeowners require a 6.5-kilowatt system. Using the per-watt figure above, a solar installation costs around $12,479, or $9,234 after the federal solar tax credit of 30% is applied.

The prices above are just estimates to give you an idea of the cost of a solar panel system. The actual cost of installing solar panels can vary depending on multiple factors, such as what size system you need, your energy consumption and what installation company you go with. For most homeowners, the upfront cost of solar panels is worth paying. On average homeowners in South Elgin see about $14,000 in savings on electricity bills over 20 years.

To get a free quote from a vetted solar installer in South Elgin, you can click the button below.

Solar savings over time in South Elgin

Year Return on Investment
1 years $-11,524
3 years $-9,614
5 years $-7,705
7 years $-5,795
9 years $-3,885
11 years $-1,976
13 years $-66
15 years $1,843
17 years $3,753
19 years $5,663
21 years $7,572
23 years $9,482
25 years $11,392

Top Solar Installers in South Elgin

Trying to put up solar panels yourself can be a time-consuming task, which is why using a solar installation company is a good option for many homeowners. Also, companies with a high reputation that cost more upfront could actually save you money in the long term with their warranties, repair services and expert design.

Working with a vetted solar installer can make going solar easier. Here are our recommendations:

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 (coming 2022)

Best Technology

Tesla Energy

★★★★★
4.5

  • 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 South Elgin

Factors that Affect Solar Panel Costs in South Elgin

For many South Elgin homeowners, the decision to install solar panels rests on cost. However, the range of solar installation costs can be quite wide in South Elgin, with typical prices between $20,000 to $40,000. There are numerous factors that significantly influence the price you'll pay, which we'll go over below.

Solar Equipment

One of the most important factors to consider when it comes to the cost of adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household consumes, the larger your system will likely need to be. You can expect to spend around $2,730 per kilowatt in South Elgin. The kind of solar panels and equipment you want is another factor that will greatly impact costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to be more costly. Plus, solar equipment consists of more than just the solar panels themselves. You'll also need to make decisions 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 falls within your budget.

Solar Financing Terms

For some homeowners, paying for solar out of pocket can be difficult. Solar loans are offered by most installers in South Elgin, which can bring down, or in some cases eliminate, your upfront costs to make solar more affordable. Though solar loans make going solar more accessible for South Elgin homeowners, they can also raise the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you make a larger down payment, though, you can avoid paying as much in interest.

Solar Panel Installation Company

Finally, the company you hire to install your solar system can affect your pricing. South Elgin's solar companies all have different labor costs and add varying upcharges to equipment. The size of the company sometimes plays the most considerable role in the cost. Larger national companies, like SunPro and Sunrun, often have lower prices because of access to more resources and better pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or promotion can bring their pricing down 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 $10,007 13.6 years
8 kW $2.78 $15,594 $13,649 13.3 years
10 kW $2.73 $19,110 $17,443 13.1 years
12 kW $2.68 $22,473 $21,391 12.8 years
14 kW $2.62 $25,684 $25,491 12.5 years
16 kW $2.57 $28,741 $29,744 12.3 years
18 kW $2.51 $31,646 $34,150 12.0 years
20 kW $2.46 $34,398 $38,709 11.8 years

How to Save on Solar Panels

There are a large number of companies available in South Elgin, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be tough, so here are some tips to help you decide:

  • Contract: Read the contract terms carefully to make sure you understand the cost breakdown, completion timeline incentives and warranties.
  • Solar Panel Brands: Not all solar companies have the same brands of solar panels, so the brand and type of panel you want can play a significant role in the company you hire.
  • Reputation: Make sure your solar installer has a good reputation by confirming it has certifications and licenses, checking its number of years in business and reading reviews by past customers and solar experts like EcoWatch.
  • Installation Process: When going solar, it's important to maintain an open line of communication with your solar panel company. Make sure you understand how the installation process will go and the project 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 (coming 2022)

Best Technology

Tesla Energy

★★★★★
4.5

  • 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 South Elgin, IL Solar Cost FAQs

How much does it cost to install solar panels in South Elgin?

This is a tough question to answer exactly, because the cost depends on a variety of factors. Generally speaking, it costs about $13,650 for a 5-kW system and $27,300 for a 10-kW system after the ITC is applied. It will be more expensive if you want extra solar equipment or higher quality panels, or if you have higher-than-average energy usage. On the flip side, you can spend less if you go with a smaller solar panel system or less expensive solar panels.

Are solar panels free in South Elgin?

A solar panel system isn't free in South Elgin, but there are some options that can make getting them more viable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can further reduce the cost.

Do solar panels increase the value of your home?

Installing solar panels on your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in South Elgin is currently $257,328, which means you could be looking at a value of about $10,550 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in South Elgin is a fruitful investment.

How many solar panels should I get to power my home?

To figure out how many solar panels you need, you should find out how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can generally produce about 250 to 400 watt-hours per hour, the average home 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.

solar panel and sunny sky
Invest in clean solar energy, save thousands of dollars.

Save $$ on your electricity bill by getting a free quote today.

Follow us