Solar Panel Cost Guide in St Charles, IL (Mar 2023)
- St Charles Solar Installation Cost: $12,479
- 25-Year Savings: $13,136
- Payback Period: 12.2 Years
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Updated March 14, 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.
The average cost of solar panels in St Charles is 2.73 per watt. The average St Charles homeowner needs a 6.5-kilowatt system, which would cost about $12,479 with the federal tax credit, or $17,845 before the 30% tax credit is applied.
The true price you pay can go higher or lower than the average in St Charles based on several factors, such as the kind of solar panels you choose and the solar contractor you hire. But, after you've paid the upfront cost of installation, the return on investment for most homeowners is usually rewarding, with a net average savings of about $15,000 over 20 years on electricity bills.
To see your potential savings and connect with a local solar installer, click the button below.
Solar savings over time in St Charles
| Year | Return on Investment |
|---|---|
| 1 years | $-11,454 |
| 3 years | $-9,405 |
| 5 years | $-7,356 |
| 7 years | $-5,307 |
| 9 years | $-3,258 |
| 11 years | $-1,208 |
| 13 years | $841 |
| 15 years | $2,890 |
| 17 years | $4,939 |
| 19 years | $6,988 |
| 21 years | $9,037 |
| 23 years | $11,087 |
| 25 years | $13,136 |
Top Solar Installers in St Charles
Do-it-yourself solar panel installation is a choice some homeowners opt for, but it's an undertaking that can be a pain. Hiring a solar company can make swapping over to solar power much easier. Also, companies with an outstanding reputation that are more expensive upfront could actually save you money in the long run due to their warranties, repair services and expert design.
If you're searching for a solar company in St Charles, the EcoWatch team has compiled a list of our top suggestions here:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
Best Technology
Tesla Energy
- 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 St Charles
Factors that Affect Solar Panel Costs in St Charles
Cost is often one of the most important factors for homeowners who want to invest in solar. There are a few major factors that determine your overall cost in St Charles: solar equipment and system size, financing options and the solar installation company you choose. We'll cover each of these briefly below.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more power your household uses, the larger your system will likely need to be. You can expect to spend around $2,730 per kilowatt in St Charles. The type of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you choose the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. However, higher efficiency could save you more over time on your energy bills. Additionally, add-on products, like solar batteries, can bump up your total well above the St Charles average.
Solar Financing Terms
Most solar companies in St Charles have solar loans, which reduce the initial cost of installing a solar system. You'll have to consider the long-term cost of financing options, including the total interest you'll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the principal cost. Making a larger down payment or finding a solar loan with a low interest rate could reduce your costs remarkably.
Solar Panel Installation Company
Lastly, the company you get to install your solar panel system can play a role in determining your pricing. St Charles' solar companies all have different labor costs and add varying upcharges to equipment. Larger national companies generally 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 add-on services like electric car 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 | $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
There are many solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you find the right company for you, here are some tips to keep in mind:
- Installation Process: Make sure you're on the same page with the installer in regard to how the installation process will go and what needs to be done before your solar panels are installed, such as repairing your electrical system or roof.
- Contract: It's important to look over your solar installer's contract carefully to understand what services they will provide, what the warranty covers and what expectations you should have about the installation process.
- Reputation: Make sure your solar company has a good reputation by confirming it has certifications and licenses, checking its number of years in business and reading reviews by previous customers and solar experts like EcoWatch.
- Solar Panel Brands: Different companies will carry various brands and types of panels. If you prefer a specific brand, make sure the solar installer you're considering has it.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
Best Technology
Tesla Energy
- 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 St Charles, IL Solar Cost FAQs
How much does it cost to install solar panels in St Charles?
This is a hard question to answer precisely, because the cost depends on a few different 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 extra solar equipment or more efficient panels, or if you have above-average energy usage. On the flip side, you can spend less if you want a smaller solar panel system or less expensive solar panels.
Is it better to lease or buy solar panels in St Charles?
Leasing solar panels can be an appealing choice, as it commonly comes with low or $0 upfront payments. The downside 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 tax rebates and credits and your home value won't increase. Buying solar panels is a better way to go if you want to get the most savings.
How will installing solar panels impact my home value?
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 St Charles is currently $260,842, so you can expect a value of about $10,695 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in St Charles is a fruitful investment.
How many solar panels should I get to power my home?
To figure out what solar panel system size 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 household 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.