Solar Panel Cost Guide in Wade, IL (2023 Update)
- Wade Solar Installation Cost: $11,925
- 25-Year Savings: $11,629
- Payback Period: 12.7 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Wade
Find out what the average cost of a solar system is in Wade.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Wade, the typical cost of solar panels is 2.73 per watt. To account for the typical energy needs of the average home in Wade, most homeowners require a 6.2-kilowatt system. Using the figure above, a solar installation costs about $11,925, or $17,053 before the federal solar tax credit of 30% is applied.
Remember that the numbers above are only averages. The price you'll pay for solar may look quite different based on your household energy use, the type of solar panels you choose, your solar contractor and more. But, after you've paid the upfront cost of installation, the return on investment for most homeowners is quite good, with a net average savings of about $14,000 over 20 years on power bills.
Click the button below to get connected to a reputable solar company in Wade for a custom estimate.
Solar savings over time in Wade
| Year | Return on Investment |
|---|---|
| 1 years | $-10,982 |
| 3 years | $-9,098 |
| 5 years | $-7,214 |
| 7 years | $-5,330 |
| 9 years | $-3,445 |
| 11 years | $-1,561 |
| 13 years | $323 |
| 15 years | $2,208 |
| 17 years | $4,092 |
| 19 years | $5,976 |
| 21 years | $7,861 |
| 23 years | $9,745 |
| 25 years | $11,629 |
Top Solar Installers in Wade
DIY solar panel installation is a choice some homeowners opt for, but it's an undertaking that can take a lot of hard work. Hiring an installer can make converting to solar power much easier. Companies can also provide access to a large variety of the best solar panels and help you decide which one will be right for you.
If you're looking for a solar company in Wade, the EcoWatch team has 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
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 Wade
Factors that Affect Solar Panel Costs in Wade
Cost is often one of the most important factors for homeowners who want to invest in solar. There are a few key factors that will push your cost above or below the average in Wade: solar equipment and system size, financing options and the solar installation company you choose. We'll discuss each of these briefly below.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a few different factors. One of the main factors is the system size, which is measured in kilowatts (kW). Solar power systems that have higher efficiency or power generation use better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $2,730. The model of solar panels and equipment you choose is another factor that will considerably impact costs. Solar panels that are more efficient, like monocrystalline panels, tend to cost more. Further, solar equipment goes beyond just the solar panels themselves. You'll also need to make decisions about the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when looking for a solar system that falls within your budget.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be financially overwhelming. Solar loans are provided by most installers in Wade, which can bring down, or in some cases totally eliminate, your upfront costs to make solar more accessible. While solar loans make going solar more accessible for Wade 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 put down a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
Lastly, the company you opt for to install your solar system can impact how much you pay. Wade's solar companies all have different labor costs and add varying upcharges to equipment. Some companies only sell high-quality, high-efficiency and high-price products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come at a higher cost. It's best to do some research and decide on the company that has the products, warranties and services you're looking for and also fits within your budget.
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 | $10,717 | 13.2 years |
| 8 kW | $2.78 | $15,594 | $14,595 | 12.9 years |
| 10 kW | $2.73 | $19,110 | $18,625 | 12.7 years |
| 12 kW | $2.68 | $22,473 | $22,809 | 12.4 years |
| 14 kW | $2.62 | $25,684 | $27,146 | 12.2 years |
| 16 kW | $2.57 | $28,741 | $31,635 | 11.9 years |
| 18 kW | $2.51 | $31,646 | $36,278 | 11.6 years |
| 20 kW | $2.46 | $34,398 | $41,073 | 11.4 years |
How to Save on Solar Panels
There are many companies available in Wade, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be difficult, so here are some tips to help you decide:
- Reputation: Your solar installer should have a good reputation as a company and have verifiable expertise in the field. Two ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from previous customers.
- Solar Panel Brands: Not all solar installers offer the same brands of solar panels, so the brand and type of panel you want can play a considerable role in the company you opt for.
- Contract: Read the contract terms carefully to make sure you understand how much it will cost, project completion timeline rebates and warranties.
- Warranty: Warranties that cover replacement parts and repairs over a couple decades are the gold standard in the business, and offering such a warranty is one indication 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 Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
EcoWatch's Wade, IL Solar Cost FAQs
How much does it cost to install solar panels in Wade?
This is a tough question to answer exactly, because the cost depends on a variety of 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 extra solar equipment or more efficient panels, or if you have above-average energy needs. On the flip side, you can spend less if you want a smaller solar panel system or cheaper solar panels.
Can you get solar panels for free in Wade?
A solar panel system isn't free in Wade, but there are some options that can make getting them more feasible, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can help lower the cost.
Is it worth going solar in Wade?
Solar panels can be a good investment for most homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your power bills are already fairly low, solar panels might not be for you.
How many solar panels should I get to power my home?
The exact number of solar panels you need depends on your household energy needs and the average daily sunlight your roof gets. You can take a look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to get between 20 and 35 panels to account for their typical energy usage.
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.