Solar Panel Cost Guide in Thornton, IL (2024 Update)
- Thornton Solar Installation Cost: $16,818
- 25-Year Savings: $10,400
- Payback Period: 18.6 Years
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Average Cost of Solar Panels in Thornton
We go over average solar pricing in Thornton.
In Thornton, solar panels cost about 4 per watt on average.The average Thornton homeowner needs a 6.4-kilowatt system, which would cost about $16,818 with the federal tax credit, or $24,050 before the 0 tax credit is applied.
These figures are just averages, and how much solar costs for you will most likely look different based on your energy needs and what company you choose to go with.But, after you've paid the initial cost of installation, the return on investment for most homeowners is typically good, with a net average savings of about $13,000 over 20 years on energy bills.
For a personalized quote from a local solar installer that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Thornton
| Year | Return on Investment |
|---|---|
| 1 years | $-15,662 |
| 3 years | $-13,350 |
| 5 years | $-11,038 |
| 7 years | $-8,725 |
| 9 years | $-6,413 |
| 11 years | $-4,100 |
| 13 years | $-1,788 |
| 15 years | $524 |
| 17 years | $2,837 |
| 19 years | $5,149 |
| 21 years | $7,461 |
| 23 years | $9,774 |
| 25 years | $12,086 |
Top Solar Installers in Thornton
DIY solar panel installation is a way to cut costs, but it's an undertaking that can be a headache. Taking advantage of a solar panel installer can make converting to solar power much easier. In addition, if you’d like to maximize your investment in solar energy, opting for a solar company can help with that too. Different providers can offer warranties, expertise on solar panel installation and sometimes even information on local incentives and net metering programs.
Working with a licensed solar installer can make going solar easier. Here are our recommendations:
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
See all of the solar companies in Thornton
Factors that Affect Solar Panel Costs in Thornton
There are a number of factors that can play into your solar system installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar system.
Solar Equipment
When it comes to estimating the price of a solar energy system in Thornton, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home’s energy consumption, which you can figure out by looking at past energy bills. Your total cost can increase by around $3,760 for each additional kilowatt you need.The solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you get the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. However, more efficient panels could save you more in the long run on your power bills. In addition, add-on products, like solar batteries, can bring your total well above the Thornton average.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be financially overwhelming. Solar loans are available from most installers in Thornton, which can reduce, or in some cases totally eliminate, your upfront costs to make solar more affordable.Although solar loans make going solar more accessible for Thornton homeowners, they can also increase the total you pay for your system, depending on your interest rate. If you make a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
A final factor to keep in mind when trying to figure out the cost of solar for your home or business in Thornton is the company you get to install your solar panel system. As with choosing a company to install new cabinets, for instance, there’s no shortage of solar installers that provide a range of services for different budgets.You may come across national solar installers that have lower prices because of 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 | $3.91 | $16,424 | $4,808 | 19.3 years |
| 8 kW | $3.84 | $21,477 | $6,832 | 19.0 years |
| 10 kW | $3.76 | $26,320 | $9,066 | 18.6 years |
| 12 kW | $3.68 | $30,952 | $11,511 | 18.2 years |
| 14 kW | $3.61 | $35,374 | $14,166 | 17.9 years |
| 16 kW | $3.53 | $39,585 | $17,032 | 17.5 years |
| 18 kW | $3.46 | $43,586 | $20,109 | 17.1 years |
| 20 kW | $3.38 | $47,376 | $23,396 | 16.7 years |
How to Save on Solar Panels
There are numerous companies available in Thornton, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be tough, so here are some tips to help you decide:
- Reputation: Make sure your solar panel installer has a good reputation by verifying it has certifications and licenses, checking its number of years in business and reading reviews by past customers and solar experts like the EcoWatch team.
- Contract: Read the contract terms thoroughly to make sure you understand how much it will cost, project completion timeline rebates and warranties.
- Warranty: Companies typically offer different kinds of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Installation Process: When making the switch to solar energy, it’s essential to keep an open line of communication with your solar panel installer. See to it that you understand how the installation process will go and the project timeline.
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
EcoWatch's Thornton, IL Solar Cost FAQs
What is the average cost of installing solar panels in Thornton?
The average cost of solar panels in Thornton is about $18,800 for a 5-kW system and $37,600 for a 10-kW system before the ITC, but the real cost will depend on stuff like the type of solar panels you want, what size system you need and how much energy you consume.
Can you get solar panels for free in Thornton?
You can’t get solar panels for free in Thornton. However, you may still be able to install them on a lower budget. You can lease solar panels for a low upfront cost or, if you’d prefer to own your solar panels, you can finance them with a solar loan.
Can solar panels completely eradicate my energy bills?
Solar panels can potentially eliminate your electricity bills depending on where you’re located and the efficiency of your system. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $707.72 per year.
How long do solar panels last in Thornton?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger level of energy production.
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.