Solar Panel Cost Guide in Stickney, IL (2023 Update)
- Stickney Solar Installation Cost: $12,211
- 25-Year Savings: $10,400
- Payback Period: 13.5 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Stickney
We go over average solar pricing in Stickney.
The average cost of solar panels in Stickney is 2.73 per watt. The average solar panel system size in Stickney is around 6.4 kilowatts, meaning a cost of about $12,211 for a solar installation, or $17,462 before the 30% federal solar tax credit is applied.
The prices above are just estimates to give you an idea of how much solar panels could cost. The true cost of going solar can vary depending on multiple factors, such as what size system you need, your energy consumption and what company you go with. But, once you've paid the initial cost of installation, the return on investment for most homeowners is quite rewarding, with a net average savings of about $13,000 over 20 years on energy bills.
To see your potential ROI and connect with a local solar expert, click the button below.
Solar savings over time in Stickney
| Year | Return on Investment |
|---|---|
| 1 years | $-11,307 |
| 3 years | $-9,498 |
| 5 years | $-7,689 |
| 7 years | $-5,880 |
| 9 years | $-4,071 |
| 11 years | $-2,262 |
| 13 years | $-453 |
| 15 years | $1,356 |
| 17 years | $3,165 |
| 19 years | $4,974 |
| 21 years | $6,783 |
| 23 years | $8,592 |
| 25 years | $10,400 |
Top Solar Installers in Stickney
Do-it-yourself solar panel installation is a way to cut costs, but it's an undertaking that can take a lot of hard work. Hiring an installer can make your switch to solar power much easier. Because solar panels are exposed to temperature swings and extreme weather, warranties and repairs from your solar company can help you get the most out of your investment in solar panels by reducing potential costs down the line.
If you're searching for a solar company in Stickney, the EcoWatch team has organized 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 Stickney
Factors that Affect Solar Panel Costs in Stickney
For many Stickney homeowners, the decision to go solar depends on cost. However, the range of solar installation costs can be quite wide in Stickney, with typical prices between $20,000 to $40,000. There are several factors that significantly influence the price you'll pay, which we'll go over below.
Solar Equipment
When it comes to estimating the cost of solar panels in Stickney, 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 usage, which you can determine by looking at past power bills. Your overall cost can increase by about $2,730 for each additional kilowatt you need. The brand and kind of equipment you get for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these are often more expensive than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have a small roof or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to more savings over time. Also, if you want extra equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Solar panels can save you money on utility bills over time, but they can also be a significant investment. That's why many Stickney homeowners decide to finance their solar panel systems to make paying for solar more affordable. Even though solar loans make going solar more accessible for Stickney homeowners, they can also raise the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you make a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
A final consideration when trying to evaluate the cost of solar for your home or business in Stickney is the company you choose to install your PV system. As with choosing a company to renovate your kitchen, for instance, there are plenty of solar installers that provide a range of services for different budgets. Additionally, some companies in Stickney are more knowledgeable about local solar incentives and can help you learn about additional rebates or tax exemptions. However, they may charge more for walking you through the whole process. Even if they cost more upfront, they could help you save more money in the long run.
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 | $9,307 | 14.0 years |
| 8 kW | $2.78 | $15,594 | $12,715 | 13.8 years |
| 10 kW | $2.73 | $19,110 | $16,276 | 13.5 years |
| 12 kW | $2.68 | $22,473 | $19,990 | 13.2 years |
| 14 kW | $2.62 | $25,684 | $23,856 | 13.0 years |
| 16 kW | $2.57 | $28,741 | $27,876 | 12.7 years |
| 18 kW | $2.51 | $31,646 | $32,048 | 12.4 years |
| 20 kW | $2.46 | $34,398 | $36,374 | 12.2 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 brands and price points. To help you pick the right company for you, here are some tips to keep in mind:
- Warranty: Each company may offer different types of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Contract: When reading through your solar company's contract, ask questions about any terms you're not sure of and be sure you understand what happens in scenarios such as a system part breaking or the company going out of business.
- Solar Panel Brands: The model of solar panel you want plays a role in which installer you should choose, since different companies have access to different panels.
- Installation Process: An important thing to understand when adopting solar energy is the installation process itself. Be sure to clarify any details you should know with your solar company, such as what permits you should secure and how long the project will take.
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 Stickney, IL Solar Cost FAQs
How much does it cost to install solar panels in Stickney?
The average cost of solar panels in Stickney is about $13,650 for a 5-kW system and $27,300 for a 10-kW system before the ITC, but the real cost will depend on stuff like the model of solar panels you want, what size system you need and how much energy you consume.
Should I lease or buy solar panels in Stickney?
Leasing solar panels can be an option if you are unable to pay upfront or get a solar loan, but since you don't own the system, you don't have access to many solar incentives. Also your property value won't increase, so you'll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most savings from going solar.
Do solar panels increase your home value?
Solar panels can increase your home value considerably as long as you buy or finance your panels and don't choose 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."
How many solar panels do I need to power my home?
To figure out what solar panel system size you need, you need to know how much energy your home requires 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 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.