Solar Panel Cost Guide in Sterling, IL (2023 Update)
- Sterling Solar Installation Cost: $12,371
- 25-Year Savings: $10,241
- Payback Period: 13.7 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Sterling
Find out what the average cost of installing solar panels is in Sterling.
The average cost of a solar system in Sterling is 2.73 per watt. Using this figure, a typical 6.5-kW system would cost about $12,364 before the 30% federal solar tax credit is applied.
These figures are only averages, and the cost of going solar for you may vary based on your specific situation and what company you go with. Despite the large upfront cost, the average Sterling homeowner can save around $13,000 on their energy bills over 20 years, which is one of the positives of solar.
For a personalized quote from a local solar installer that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Sterling
| Year | Return on Investment |
|---|---|
| 1 years | $-12,296 |
| 3 years | $-12,145 |
| 5 years | $-11,994 |
| 7 years | $-11,844 |
| 9 years | $-11,693 |
| 11 years | $-11,542 |
| 13 years | $-11,391 |
| 15 years | $-11,241 |
| 17 years | $-11,090 |
| 19 years | $-10,939 |
| 21 years | $-10,788 |
| 23 years | $-10,638 |
| 25 years | $-10,487 |
Top Solar Installers in Sterling
When making the switch to solar, many homeowners prefer to go with a solar company since handling can be a difficult project. Companies can also provide access to various kinds of the best solar panels and help you choose which one will be best for you.
There are various licensed solar professionals that can install solar panels for you. Here are our suggestions:
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 Sterling
Factors that Affect Solar Panel Costs in Sterling
For many Sterling homeowners, the decision to install solar panels comes down to cost. However, the range of solar installation costs can be quite wide in Sterling, with typical prices between $20,000 to $40,000. There are several factors that considerably influence the price you'll pay, which we'll go over 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 electricity your household uses, the larger your system will likely need to be. You can expect to pay about $2,730 per kilowatt in Sterling. Some solar brands — like Maxeon from SunPower — cost more upfront but also tend to offer better efficiency. In a city like Sterling, where sunlight is relatively abundant, efficiency can quickly pay off. In addition, if you have a small roof or limited space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be a challenge. Solar loans are offered by most installers in Sterling, which can reduce, or in some cases completely eliminate, your upfront costs to make solar more accessible. However, the interest on solar loans also increases your all-in costs, so it's crucial to keep that in mind as well. You can always reduce the total you pay in interest and sometimes even your APR by putting more money down.
Solar Panel Installation Company
A final consideration when trying to estimate the cost of solar for your home or business in Sterling is the company you hire to install your PV system. As with choosing a company to build a deck or pool, for instance, there's no shortage of solar installers that offer a range of services for different budgets. Some companies only sell high-efficiency and high-priced products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally cost more. It's best to do some research and find a company that has the products, warranties and services you're looking for and also is within 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 | $2.84 | $11,925 | $9,033 | 14.2 years |
| 8 kW | $2.78 | $15,594 | $12,349 | 14.0 years |
| 10 kW | $2.73 | $19,110 | $15,819 | 13.7 years |
| 12 kW | $2.68 | $22,473 | $19,441 | 13.4 years |
| 14 kW | $2.62 | $25,684 | $23,216 | 13.1 years |
| 16 kW | $2.57 | $28,741 | $27,144 | 12.9 years |
| 18 kW | $2.51 | $31,646 | $31,225 | 12.6 years |
| 20 kW | $2.46 | $34,398 | $35,459 | 12.3 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you select the right company for you, here are some tips to keep in mind:
- Contract: Before signing a contract with a solar company, be sure to read it through carefully so you understand the terms. Also, ask questions if you aren't sure about some of the terms, such as what the warranty covers and if there are any guarantees about energy production.
- Warranty: Companies typically offer different types of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- 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 large role in the company you opt for.
- 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.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Sterling, IL Solar Cost FAQs
How much does it cost to install solar panels in Sterling?
This is a hard 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. You can expect to pay more if you want extra solar equipment or higher quality panels, or if you have higher-than-average energy consumption. On the flip side, you can spend less if you want a smaller solar panel system or cheaper solar panels.
Is it better to lease or buy solar panels in Sterling?
Leasing solar panels can be an appealing choice, as it commonly 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 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.
Can solar panels completely eradicate my electricity bills?
It is possible to erase your electricity bills with solar panels, but for most homeowners in Sterling, that will require at least a 10-kW system. Not all homes will have the roof space for that size system, so you'll want to contact a local solar installer to see how many panels can fit on your roof.
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 are completely unusable at that time. What this means is their energy production will have decreased significantly after that point. You can opt to replace them once you've had them for that long or you can keep using 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.