Solar Panel Cost Guide in Tinley Park, IL (2023 Update)
- Tinley Park Solar Installation Cost: $12,269
- 25-Year Savings: $10,343
- Payback Period: 13.6 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Tinley Park
We go over average solar pricing in Tinley Park.
The national average cost of solar panels is $2.66 per watt, but in Tinley Park it's 2.73 per watt. Using this figure, a typical 6.4-kW system would cost about $12,269 before the 30% federal solar tax credit is applied.
Bear in mind that the figures above are only estimates based on the average energy use of Tinley Park homeowners. The price of a solar system for your home may be different depending on factors unique to your situation, like your household energy use and solar contractor. With average savings of about $13,000 on power bills over 20 years, many homeowners in Tinley Park find installing solar panels can pay off big.
You can click the button below to get connected with a vetted solar installer in Tinley Park for a quote for your home.
Solar savings over time in Tinley Park
| Year | Return on Investment |
|---|---|
| 1 years | $-11,364 |
| 3 years | $-9,555 |
| 5 years | $-7,746 |
| 7 years | $-5,937 |
| 9 years | $-4,128 |
| 11 years | $-2,319 |
| 13 years | $-511 |
| 15 years | $1,298 |
| 17 years | $3,107 |
| 19 years | $4,916 |
| 21 years | $6,725 |
| 23 years | $8,534 |
| 25 years | $10,343 |
Top Solar Installers in Tinley Park
When switching to solar energy, many homeowners choose to hire a solar installation company since overseeing your solar installation yourself can be a challenging project. Also, companies with a high reputation that are more expensive upfront could actually save you money in the long run due to their warranties, repair services and expert design.
You can work with a local solar installer to get a free estimate on how much solar panels could cost for your home. Here are some near you:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
See all of the solar companies in Tinley Park
Factors that Affect Solar Panel Costs in Tinley Park
The cost of installing a solar system in Tinley Park can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The biggest one is the size of the system you need, and other factors include equipment choices, financing options and the solar installer you choose.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of going solar. Because of that, it's crucial to accurately assess the size of the solar energy system needed for your home by figuring out your typical energy use. There are many different solar panel brands and the one you choose also changes the cost. Typically, the brands that are more efficient 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
Many homeowners find the average cost of solar in Tinley Park to be prohibitively expensive, even if the investment pays off over time. Fortunately, almost every solar installer in the area provides financing options. Solar loans greatly decrease upfront costs for most homeowners, but they also result in a higher cost over time because of interest. However, the interest on solar loans also adds to your overall costs, so it's vital to include that in your estimate as well. You can always bring down the total you pay in interest and sometimes even your APR by putting more money down.
Solar Panel Installation Company
The solar installation company you select will impact your total cost to adopt solar energy. Different companies will charge different amounts for the equipment and labor. Additionally, some companies in Tinley Park know more about local solar incentives and can help you make good use of additional rebates or tax exemptions. However, they may charge more for that service. 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 | $9,195 | 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
Since the type of solar panels and the installer you choose has an impact on your costs and your system's efficiency, production, and durability, it's important to pick the right ones for you. Here are some things to keep in mind to help with your decision:
- Reputation: Long-running companies likely have a high reputation. This is important because it ensures that it will not only see your solar project through, but will also provide adequate aftercare and customer service, such as part repairs and replacements.
- 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 choose.
- Contract: When looking over your solar company's contract, ask questions about any terms you're not sure of and make sure you understand what happens in scenarios such as a system part breaking or if the company goes out of business.
- Warranty: Many companies offer different types of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
EcoWatch's Tinley Park, IL Solar Cost FAQs
What is the average cost of installing solar panels in Tinley Park?
The average cost of solar panels in Tinley Park 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 things such as the model of solar panels you want, what size system you need and how much energy you consume.
Are solar panels free in Tinley Park?
Solar panels aren't free in Tinley Park, 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 you can take advantage of.
How much can I save on power bills after switching to solar?
Solar panels can potentially eliminate your electricity bills depending on where you're located and how much sunlight your home gets. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $703.99 per year.
How often do you have to replace solar panels?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is how much energy they produce will have decreased significantly after that point. You can decide to replace them after having them for that long or you can continue to use 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.