Solar Panel Cost Guide in Wade, IL (2024 Update)
- Wade Solar Installation Cost: $16,429
- 25-Year Savings: $11,626
- Payback Period: 17.4 Years
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Average Cost of Solar Panels in Wade
See how much it might cost to install solar panels in Wade.
The national average cost of solar panels is $2.66 per watt, but in Wade it’s 4 per watt.The average Wade homeowner needs a 6.2-kilowatt system, which would cost about $16,429 with the federal tax credit, or $23,493 before the 0 tax credit is applied.
These figures are only averages, and the cost of going solar for you may vary based on your energy needs and what company you choose to go with.Many homeowners find going solar is a solid investment. The average homeowner in Wade can save around $14,000 on their power bills over 20 years.
You can click the button below to get connected with a vetted solar company in Wade that can help you get a more accurate cost estimate for your home.
Solar savings over time in Wade
| Year | Return on Investment |
|---|---|
| 1 years | $-15,578 |
| 3 years | $-13,877 |
| 5 years | $-12,175 |
| 7 years | $-10,474 |
| 9 years | $-8,773 |
| 11 years | $-7,071 |
| 13 years | $-5,370 |
| 15 years | $-3,669 |
| 17 years | $-1,968 |
| 19 years | $-266 |
| 21 years | $1,435 |
| 23 years | $3,136 |
| 25 years | $4,838 |
Top Solar Installers in Wade
DIY solar panel installation is a possibility, but it's an undertaking that can be a headache. Using an installer can make converting to solar power much easier. Since solar panels are exposed to rain, snow, hail and wind, depending on the climate, warranties and repairs from your solar installer can help you get the most out of your investment in solar panels by avoiding potential costs down the line.
You can work with a local solar installer to get a free quote on how much your investment in solar could cost for your home. Here are some nearby:
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 Wade
Factors that Affect Solar Panel Costs in Wade
Although the average cost of a solar system in Wade is $16,429, your final cost may differ. There are many factors that can have a major impact on the cost of a solar system installation. Below are some of the more important things to consider.
Solar Equipment
The size of the solar system you need for your home, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by around $3,760. Some solar brands — like Maxeon from SunPower — are more costly upfront but also tend to offer higher efficiency. In a city like Wade, where sunlight is relatively abundant, efficiency can quickly pay off. Plus, if you have a small roof or limited space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
If paying for a solar system in cash is difficult, solar loans are a solid route because they lower your upfront costs and let you pay for your system over a term of, on average, between five and seven years.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 above the equipment and labor cost. Making a larger down payment or finding a solar loan with a low interest rate could reduce your costs remarkably.
Solar Panel Installation Company
The solar company you pick will influence your total cost to make the switch to solar energy. Different companies will bill different amounts for the equipment and labor.You may notice national solar installers that have lower prices due to their larger brand name and access to bulk equipment prices, or you might see small, local installation companies offering deals or specials to compete with those major players.
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 | $6,218 | 18.1 years |
| 8 kW | $3.84 | $21,477 | $8,711 | 17.8 years |
| 10 kW | $3.76 | $26,320 | $11,415 | 17.4 years |
| 12 kW | $3.68 | $30,952 | $14,330 | 17.1 years |
| 14 kW | $3.61 | $35,374 | $17,456 | 16.7 years |
| 16 kW | $3.53 | $39,585 | $20,791 | 16.4 years |
| 18 kW | $3.46 | $43,586 | $24,338 | 16.0 years |
| 20 kW | $3.38 | $47,376 | $28,095 | 15.7 years |
How to Save on Solar Panels
Since the model of solar panels and the installation company you choose has an impact on your costs and your system’s efficiency, production, and durability, it’s important to select the right ones for you. Here are some tips to keep in mind to help with your decision:
- 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 substantial role in the company you hire.
- Installation Process: When going solar, it’s necessary to keep an open line of communication with your solar panel installer. Make sure you understand how the installation process works and the completion timeline.
- Warranty: Warranties that cover panel repairs and maintenance over around 25 years are the best you can get in the business, and offering that kind of warranty is one mark of a good company.
- Reputation: Solar installers that have great reviews from their customers and that have been operating for many years most likely provide quality solar panel installation and expertise.
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 Wade, IL Solar Cost FAQs
How much does it cost to install solar panels in Wade?
The average cost of solar panels in Wade is about $18,800 for a 5-kW system and $37,600 for a 10-kW system before the ITC, but the actual cost will depend on certain factors like the model of solar panels you want, what size system you need and how much energy you use.
What other factors should I consider apart from cost when buying solar panels?
Cost is certainly one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
How will installing solar panels impact the value of my home?
Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Wade is currently $147,935, which means you can expect a value of about $6,065 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Wade is a worthwhile investment.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy needs and the amount of 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 cover 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.