Solar Panel Cost Guide in Spring Valley, IL (2024 Update)

  • Spring Valley Solar Installation Cost: $16,960
  • 25-Year Savings: $12,089
  • Payback Period: 17.4 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 Spring Valley

We go over average solar pricing in Spring Valley.

Currently, the national average cost of solar panels is $2.66 per watt. However, in Spring Valley, the average cost of solar panels is 4 per watt.The average Spring Valley homeowner needs a 6.4-kilowatt system, which would cost about $16,960 with the federal tax credit, or $24,253 before the 0 tax credit is applied.

The prices above are just estimates to give you an idea of how much solar panels could cost. The actual cost of installing solar panels can vary quite a bit based on a few factors, such as what size system you need, your energy usage and what installation company you go with.Even with the significant upfront cost, the average Spring Valley homeowner can save about $14,000 on their electricity bills over 20 years, which is one of the advantages of solar.

To see your potential savings and connect with a local solar installer, click the button below.

Solar savings over time in Spring Valley

Year Return on Investment
1 years $-16,109
3 years $-14,408
5 years $-12,707
7 years $-11,005
9 years $-9,304
11 years $-7,603
13 years $-5,901
15 years $-4,200
17 years $-2,499
19 years $-798
21 years $904
23 years $2,605
25 years $4,306

Top Solar Installers in Spring Valley

When going solar, many homeowners opt to hire a solar company since overseeing your solar installation yourself can be a challenging project. Some solar installers, especially local ones, can help you take advantage of incentives in Spring Valley, thereby optimizing your ROI.

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 in Spring Valley:

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 Spring Valley

Factors that Affect Solar Panel Costs in Spring Valley

For many Spring Valley homeowners, the decision to install a solar energy system rests on cost. However, the range of solar installation costs can be quite wide in Spring Valley, with typical prices between $20,000 to $40,000. There are a number of factors that greatly influence the price you’ll pay, which we'll go over below.

Solar Equipment

System size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of installing solar panels. For that reason, it’s crucial to accurately ascertain the size of the solar energy system needed for your home by figuring out your energy needs.There are many different solar panel brands and the one you pick also changes the cost. Generally speaking, the brands that have better efficiency tend to also cost more. Additionally, the type of equipment you choose 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 Spring Valley to be too expensive, even if the investment pays off over time. Thankfully, almost every solar company in the area offers financing options. Solar loans remarkably decrease upfront costs in most cases, but they also result in higher prices over time due to interest.However, the interest on solar loans also increases your all-in costs, so it’s vital to include that in your estimate as well. You can always bring down the total you pay in interest and in some cases even your APR by putting more money down.

Solar Panel Installation Company

The remaining significant cost factor you should take into consideration is the installer you choose. Given the booming popularity of renewable energy solutions in Spring Valley, you’ll have lots of options to choose from, but each comes at varying price points for labor and equipment.Some companies only sell products with high efficiency and therefore a higher price point — 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 decide on the company that has the products, warranties and services you’re looking for 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 $3.91 $16,424 $6,298 18.1 years
8 kW $3.84 $21,477 $8,819 17.7 years
10 kW $3.76 $26,320 $11,550 17.4 years
12 kW $3.68 $30,952 $14,492 17.0 years
14 kW $3.61 $35,374 $17,644 16.7 years
16 kW $3.53 $39,585 $21,007 16.3 years
18 kW $3.46 $43,586 $24,581 16.0 years
20 kW $3.38 $47,376 $28,365 15.6 years

How to Save on Solar Panels

There are a lot of companies to choose from in Spring Valley, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be challenging, so here are some tips to help you decide:

  • Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a solid reputation and is qualified to do the job well. Another way you can check your installer’s reputation is by reading reviews.
  • Solar Panel Brands: Each solar panel brand and type has varying levels of quality, durability and efficiency. They will come at different costs as well. The company you choose impacts which solar panel brands you have access to.
  • Warranty: A comprehensive, long-term warranty can help keep your solar system running smoothly and save you money on part replacement and repairs.
  • Contract: It’s important to read through your solar installer’s contract thoroughly to understand what services they will provide, what the warranty covers and what you can expect about the installation process.

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 Spring Valley, IL Solar Cost FAQs

How much does it cost to install solar panels in Spring Valley?

This is a difficult question to answer exactly, because the cost depends on many factors. Broadly speaking, it costs about $18,800 for a 5-kW system and $37,600 for a 10-kW system after the ITC is applied. It will be more expensive if you want extra solar equipment or more efficient panels, or if you have higher-than-average energy consumption. Conversely, you can spend less if you choose a smaller solar panel system or less expensive solar panels.

Is cost the most important consideration when buying solar panels?

Cost is definitely one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.

Do solar panels increase the value of your home?

Solar panels can increase your home value remarkably as long as you buy or finance your panels and don’t opt for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% with a solar installation."

What solar power system size is right for my home?

To figure out how many solar panels you need, you should find out how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can usually 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.

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