Solar Panel Cost Guide in Venice, IL (Mar 2023)
- Venice Solar Installation Cost: $11,695
- 25-Year Savings: $8,135
- Payback Period: 14.7 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Venice
See how much it might cost to go solar in Venice.
Although the national average of solar panels is $2.66 per watt, solar panels in Venice typically cost about 2.73. The average solar panel system size in Venice is around 6.1 kilowatts, meaning a cost of about $11,695 for a solar installation, or $16,724 before the 30% federal solar tax credit is applied.
The prices above are just estimates to give you an idea of the cost of solar panels. The exact cost of making the switch to solar can vary quite a bit depending on several factors, such as how many panels you need, your energy consumption and what installation company you go with. Even with the high initial cost, the average Venice homeowner can save around $12,000 on their power bills over 20 years, which is one of the advantages of solar.
To get a free estimate from a top solar installer in Venice, you can click the button below.
Solar savings over time in Venice
| Year | Return on Investment |
|---|---|
| 1 years | $-10,902 |
| 3 years | $-9,316 |
| 5 years | $-7,729 |
| 7 years | $-6,143 |
| 9 years | $-4,556 |
| 11 years | $-2,970 |
| 13 years | $-1,384 |
| 15 years | $203 |
| 17 years | $1,789 |
| 19 years | $3,376 |
| 21 years | $4,962 |
| 23 years | $6,549 |
| 25 years | $8,135 |
Top Solar Installers in Venice
Although it's possible to install solar panels on your own, it involves extra energy and expertise. That's one of the reasons most people choose to hire a solar panel installer. Solar warranties and repairs are often included in the cost of installation when you hire a solar contractor as well, which can save you more money after your initial investment.
If you're on the hunt for a solar installer in Venice, we've compiled 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 Venice
Factors that Affect Solar Panel Costs in Venice
For many Venice homeowners, the decision to install solar panels depends on cost. However, the range of solar installation costs can be quite wide in Venice, with typical prices between $20,000 to $40,000. There are various factors that greatly influence the price you'll pay, which we'll go over below.
Solar Equipment
When it comes to estimating the cost of a solar system in Venice, one of the most crucial 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 usage, which you can gauge by looking at past energy bills. Your total cost can increase by about $2,730 for each additional kilowatt you need. The type of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you choose 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 energy bills. Additionally, add-on products, such as solar batteries, can bring your total well above the Venice average.
Solar Financing Terms
If paying for solar panels out of pocket is too expensive, solar loans are an affordable choice because they reduce your upfront costs and allow you to pay for your system over five to seven years on average. You'll have to consider the long-term cost of loans, including the amount of interest you'll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the original cost. Making a larger down payment or finding a solar loan with a low interest rate could reduce your costs considerably.
Solar Panel Installation Company
The final significant cost factor you should keep in mind is the installer you choose. Given the booming popularity of renewable energy solutions in Venice, you'll have many options to choose from, but each comes at varying price points for labor and equipment. The size of the company can sometimes play the most significant role in your costs. Larger national companies, like SunPro and Sunrun, often have lower prices due to more resources and better pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or discount can bring their pricing down to compete with bigger companies.
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 | $7,525 | 15.3 years |
| 8 kW | $2.78 | $15,594 | $10,339 | 15.0 years |
| 10 kW | $2.73 | $19,110 | $13,306 | 14.7 years |
| 12 kW | $2.68 | $22,473 | $16,426 | 14.4 years |
| 14 kW | $2.62 | $25,684 | $19,698 | 14.1 years |
| 16 kW | $2.57 | $28,741 | $23,124 | 13.9 years |
| 18 kW | $2.51 | $31,646 | $26,702 | 13.6 years |
| 20 kW | $2.46 | $34,398 | $30,434 | 13.3 years |
How to Save on Solar Panels
There are many 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: When reading through your solar company's contract, ask for clarification about any terms you're not sure of and make sure you understand what happens in scenarios like a system part breaking or the company going out of business.
- Solar Panel Brands: Different companies have various brands and models of panels. If you prefer a specific brand, make sure the solar company you're considering has it.
- Reputation: Companies that have been operating for many years likely have a high reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide quality aftercare and customer support, such as part repairs and replacements.
- Installation Process: Homeowners should make sure they understand how exactly the installation process will be carried out, as well as important factors like the project timeline.
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 Venice, IL Solar Cost FAQs
How much does it cost to install solar panels in Venice?
This is a hard question to answer exactly, because the cost depends on many factors. Broadly speaking, it costs about $13,650 for a 5-kW system and $27,300 for a 10-kW system after the ITC is applied. It will be more expensive if you want other solar equipment or more efficient panels, or if you have above-average energy usage. On the flip side, you can spend less if you want a smaller solar panel system or cheaper solar panels.
Are solar panels free in Venice?
You can't get solar panels for free in Venice. 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 want to own your solar panels, you can finance them with a solar loan.
Is it worth going solar in Venice?
Whether or not solar panels are worth it depends on some different factors like how much you pay for electricity and the amount of direct sunlight your roof gets.
How long do solar panels last in Venice?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher 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.