Solar Panel Cost Guide in Steger, IL (Jan 2023)
- Steger Solar Installation Cost: $12,269
- 25-Year Savings: $10,343
- Payback Period: 13.6 Years
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Top Solar Installers in Steger
Putting up solar panels by yourself can be a time-consuming project, which is why hiring a solar installation company is a good option for many homeowners. The expertise that solar companies offer can be valuable as well, especially if you don't quite know what brand of solar equipment would be right for your home.
Working with a licensed solar installer can help your solar project go smoothly. Here are our recommendations:
See all of the solar companies in Steger
Factors that Affect Solar Panel Costs in Steger
For many Steger homeowners, the decision to install solar panels depends on cost. However, the range of solar installation costs can be quite wide in Steger, 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.
When it comes to estimating the cost of a solar energy system in Steger, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are chiefly based on your home's energy consumption, which you can gauge by looking at past electricity bills. Your overall cost can increase by around $2,730 for each additional kilowatt you need. The kind 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. In addition, extra products, such as solar batteries, can bump up your total well above the Steger average.
Solar Financing Terms
If paying for solar panels in cash is out of reach, solar loans are a solid option because they reduce your upfront costs and let you pay for your system over a term of, on average, between five and seven years. Although solar loans make adopting solar energy more accessible for Steger homeowners, they can also raise the total you pay for your system due to interest. If you make a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The final significant cost factor you should keep in mind is the installer you choose. Given the booming popularity of green energy solutions in Steger, you'll have lots of options to choose from, but each comes at different price points for labor and equipment. You may see national solar installers that have lower prices due to their larger brand name and access to bulk prices, or you might see small, local installation companies offering deals or promotions 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||$9,195||14.1 years|
|8 kW||$2.78||$15,594||$12,566||13.8 years|
|10 kW||$2.73||$19,110||$16,090||13.6 years|
|12 kW||$2.68||$22,473||$19,766||13.3 years|
|14 kW||$2.62||$25,684||$23,596||13.0 years|
|16 kW||$2.57||$28,741||$27,578||12.8 years|
|18 kW||$2.51||$31,646||$31,713||12.5 years|
|20 kW||$2.46||$34,398||$36,001||12.2 years|
How to Save on Solar Panels
The solar company you go with will affect not only your overall costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are a few important things you should keep in mind, including:
- Contract: Even though reading through a contract can take a lot of time, it's important to do it fully so you can be sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and energy needs. While there are many options for which kind of solar panel you can get, not every company will have the exact one you may want or need, so make sure you ask for their list of offerings before deciding.
- Installation Process: When making the switch to solar power, 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 completion timeline.
- Reputation: Solar installers that have great reviews from their customers and that have been in business for many years in most cases offer high-quality solar panel installation and expertise.
EcoWatch's Steger, 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.