Solar Panel Cost Guide in Sugar Loaf, IL (2024 Update)
- Sugar Loaf Solar Installation Cost: $16,000
- 25-Year Savings: $13,276
- Payback Period: 16.1 Years
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Average Cost of Solar Panels in Sugar Loaf
Let’s take a look at the average cost of solar in Sugar Loaf.
The average cost of a solar system in Sugar Loaf is 4 per watt.Because a 6.1-kW system is needed to cover the energy costs of a typical home in Sugar Loaf, the average price of going solar will be about $16,000 after claiming the federal solar tax credit of 0.
The true cost of your system can go higher or lower than the average in Sugar Loaf depending on a few factors, such as the model of solar panels you choose and the solar company you hire.Many homeowners find installing solar panels is a rewarding investment. The average homeowner in Sugar Loaf can save around $16,000 on their electricity bills over 20 years.
For a personalized quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Sugar Loaf
| Year | Return on Investment |
|---|---|
| 1 years | $-15,149 |
| 3 years | $-13,448 |
| 5 years | $-11,746 |
| 7 years | $-10,045 |
| 9 years | $-8,344 |
| 11 years | $-6,643 |
| 13 years | $-4,941 |
| 15 years | $-3,240 |
| 17 years | $-1,539 |
| 19 years | $163 |
| 21 years | $1,864 |
| 23 years | $3,565 |
| 25 years | $5,267 |
Top Solar Installers in Sugar Loaf
Many homeowners decide to hire a solar panel company since installing solar panels yourself can be a lot of work. Companies can also offer access to a large variety of the best solar panels and help you decide which one will be right for your family.
If you’d like to make the switch to solar but still aren’t certain which solar system installer 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
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
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 Sugar Loaf
Factors that Affect Solar Panel Costs in Sugar Loaf
The cost of installing a solar system in Sugar Loaf can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The most significant one is the size of the system you need, and other factors include the equipment you choose, financing options and the solar installer you choose.
Solar Equipment
One of the most important factors to consider when it comes to the cost of going solar 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 $3,760 per kilowatt in Sugar Loaf.There are a lot of different solar panel brands and the one you choose also affects the cost. In general, the brands that have better efficiency tend to also cost more. In addition, the type of equipment you’re looking to get can affect your total cost. If you only need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Solar panels can save you money on energy bills over many years, but they can also be a significant investment. That’s why many Sugar Loaf homeowners opt to finance their solar panel systems to make going solar more affordable.When estimating your overall cost, you should also calculate the interest you’ll pay if you decide on a solar loan. Also, paying a higher down payment can reduce the total interest paid over time.
Solar Panel Installation Company
The last key cost factor you should keep in mind is the installer you choose. Given the booming popularity of sustainable energy solutions in Sugar Loaf, you’ll have lots of options to choose from, but each comes at different price points for labor and equipment.Additionally, some companies in Sugar Loaf know more about local solar incentives and can help you take advantage of additional rebates or tax exemptions. Though, they may charge more for walking you through the whole process. Even if they cost more upfront, they could end up saving you 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 | $3.91 | $16,424 | $8,146 | 16.7 years |
| 8 kW | $3.84 | $21,477 | $11,282 | 16.4 years |
| 10 kW | $3.76 | $26,320 | $14,629 | 16.1 years |
| 12 kW | $3.68 | $30,952 | $18,186 | 15.7 years |
| 14 kW | $3.61 | $35,374 | $21,954 | 15.4 years |
| 16 kW | $3.53 | $39,585 | $25,933 | 15.1 years |
| 18 kW | $3.46 | $43,586 | $30,122 | 14.8 years |
| 20 kW | $3.38 | $47,376 | $34,522 | 14.5 years |
How to Save on Solar Panels
There are many companies to choose from in Sugar Loaf, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be difficult, so here are some tips to help you decide:
- Contract: It’s important to look over your solar installer’s contract well to understand what services they will provide, what the warranty covers and what you can expect about the installation process.
- Solar Panel Brands: The kind of solar panel you need to get plays a part in which company you should choose, since different companies have different panels.
- Reputation: Make sure your solar system installer has a good reputation by verifying it has certifications and licenses, checking its work history and reading reviews by past customers and solar experts like the EcoWatch team.
- Warranty: Warranties that provide coverage for defective panels and repairs over a couple decades are the gold standard in the business, and offering such a warranty is one mark of a good company.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
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 Sugar Loaf, IL Solar Cost FAQs
How much does it cost to install solar panels in Sugar Loaf?
This is a hard question to answer exactly, because the cost depends on many factors. Generally speaking, it costs about $18,800 for a 5-kW system and $37,600 for a 10-kW system after the ITC is applied. It will be more expensive if you want extra solar equipment or more efficient panels, or if you have higher-than-average energy consumption. Conversely, you can spend less if you go with a smaller solar panel system or cheaper solar panels.
Are solar panels free in Sugar Loaf?
Solar panels aren’t free in Sugar Loaf, but there are some options that can make getting them more affordable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can further reduce the cost.
Does Sugar Loaf have a net metering program?
Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just offer you credit toward your future energy bills.
What solar power system size is right for my home?
To figure out how many solar panels you need, you need to know how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average house 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.