Solar Panel Cost Guide in St. Charles, IL (2023 Update)
- St. Charles Solar Installation Cost: $12,479
- 25-Year Savings: $13,135
- Payback Period: 12.2 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in St. Charles
Find out what the average cost of a solar system is in St. Charles.
While the national average of solar panels is $2.66 per watt, solar panels in St. Charles typically cost about 2.73. Using this figure, a typical 6.5-kW system would cost about $12,479 before the 30% federal solar tax credit is applied.
Remember that the numbers above are only averages. The price you'll pay for solar may vary based on your household energy needs, the type of solar panels you want, your solar contractor and more. For most homeowners, the upfront cost of solar panels is worth paying. On average homeowners in St. Charles see about $15,000 in savings on utility bills over 20 years.
To calculate your potential ROI and connect with a local solar company, click the button below.
Solar savings over time in St. Charles
| Year | Return on Investment |
|---|---|
| 1 years | $-12,394 |
| 3 years | $-12,223 |
| 5 years | $-12,052 |
| 7 years | $-11,882 |
| 9 years | $-11,711 |
| 11 years | $-11,540 |
| 13 years | $-11,369 |
| 15 years | $-11,199 |
| 17 years | $-11,028 |
| 19 years | $-10,857 |
| 21 years | $-10,686 |
| 23 years | $-10,516 |
| 25 years | $-10,345 |
Top Solar Installers in St. Charles
Although it's possible to install solar panels yourself, it involves extra energy and know-how. For that reason, most homeowners choose to hire a solar panel installer. A solar company can also help save you money in the long run by providing warranties, repairs and system component replacements.
If you'd like to start using solar energy but still aren't certain which solar system company to go with, here are our suggestions for providers near you:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
See all of the solar companies in St. Charles
Factors that Affect Solar Panel Costs in St. Charles
For many St. Charles homeowners, the decision to go solar comes down to cost. However, the range of solar installation costs can be quite wide in St. Charles, with typical prices between $20,000 to $40,000. There are a few factors that greatly influence the price you'll pay, which we'll go over below.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of installing solar panels. For that reason, it's a priority to accurately ascertain the size of the solar energy system needed for your home by figuring out your average energy use. The solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you opt for the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. On the other hand, more efficient panels could save you more in the long run on your power bills. Additionally, add-on products, like solar batteries, can bump up your total well above the St. Charles average.
Solar Financing Terms
Many homeowners find the average cost of solar in St. Charles to be too steep, even if the investment pays off over time. Thankfully, almost every solar company in the area provides financing options. Solar loans remarkably decrease upfront costs in most cases, but they also result in paying more over time because of interest. When estimating your overall cost, you should also calculate the interest you'll pay if you choose to go with a solar loan. Also, paying more on your down payment can lower the total interest paid over time.
Solar Panel Installation Company
The solar company you choose to handle your switch to solar energy can have an effect on your total costs. There are about 3 solar panel companies in St. Charles, and each can charge different amounts for labor and equipment. You may notice national solar installers that have lower prices due to their larger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or specials to compete with those larger 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 | $11,610 | 12.7 years |
| 8 kW | $2.78 | $15,594 | $15,785 | 12.4 years |
| 10 kW | $2.73 | $19,110 | $20,114 | 12.2 years |
| 12 kW | $2.68 | $22,473 | $24,595 | 11.9 years |
| 14 kW | $2.62 | $25,684 | $29,230 | 11.7 years |
| 16 kW | $2.57 | $28,741 | $34,017 | 11.4 years |
| 18 kW | $2.51 | $31,646 | $38,957 | 11.2 years |
| 20 kW | $2.46 | $34,398 | $44,050 | 11.0 years |
How to Save on Solar Panels
The solar company you choose will impact not only your overall costs, but also the types of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are some important things you should keep in mind, such as:
- Contract: Read the contract terms carefully to make sure you understand the cost breakdown, project timeline incentives and warranties.
- Installation Process: Make sure you're on the same page with the installer with regard to how the installation process will go and what needs to be done before your solar system is installed, such as repairing your electrical system or roof.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a good reputation and is qualified to get the job done well. Another way you can check your installer's reputation is by reading reviews.
- Solar Panel Brands: Not all solar installers offer the same brands of solar panels, so the brand and type of panel you want can play a large role in the company you choose.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's St. Charles, IL Solar Cost FAQs
What is the average cost of installing solar panels in St. Charles?
This is a hard question to answer precisely, 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 cost more if you want other solar equipment or higher quality panels, or if you have higher-than-average energy needs. Conversely, you can spend less if you choose a smaller solar panel system or cheaper solar panels.
Is it better to lease or buy solar panels in St. Charles?
Leasing solar panels can be an appealing choice, because it often comes with low or $0 upfront payments. The drawback is that you won't be able to save as much. If you lease, you don't own the system, so you can't claim any incentives and your home value won't increase. Buying solar panels is a better option if you want to maximize your savings.
How will installing solar panels impact the value of my home?
Solar panels can increase the value of your home 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% after installing solar panels."
How often do you have to replace solar panels?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is their energy production will have decreased significantly after that point. You can replace them after having them for that long or you can continue to use them at a lower efficiency.
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.