Solar Panel Cost Guide in Washington Park, IL (Mar 2023)
- Washington Park Solar Installation Cost: $11,619
- 25-Year Savings: $8,211
- Payback Period: 14.6 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Washington Park
Find out how much it might cost to go solar in Washington Park.
The national average cost of solar panels is $2.66 per watt, but in Washington Park it's 2.73 per watt. The average Washington Park homeowner needs a 6.1-kilowatt system, which would cost about $11,619 with the federal tax credit, or $16,615 before the 30% tax credit is applied.
Bear in mind that the figures above are only estimates based on the average energy use of Washington Park homeowners. The cost of a solar system for your home may look different depending on factors unique to you, like your household energy use and solar contractor. Many homeowners find installing solar panels is a sound investment. The average homeowner in Washington Park can save around $12,000 on their electricity bills over 20 years.
You can click the button below to get connected with a pre-vetted solar company in Washington Park that can help you get a more accurate cost estimate for your home.
Solar savings over time in Washington Park
| Year | Return on Investment |
|---|---|
| 1 years | $-10,826 |
| 3 years | $-9,239 |
| 5 years | $-7,653 |
| 7 years | $-6,066 |
| 9 years | $-4,480 |
| 11 years | $-2,894 |
| 13 years | $-1,307 |
| 15 years | $279 |
| 17 years | $1,866 |
| 19 years | $3,452 |
| 21 years | $5,039 |
| 23 years | $6,625 |
| 25 years | $8,211 |
Top Solar Installers in Washington Park
Do-it-yourself solar panel installation is a possibility, but it's an undertaking that can be a pain. Taking advantage of a solar company can make switching to solar power much easier. Plus, if you aren't sure what brand of solar panels and equipment you may need, a solar expert can help you find the right equipment for you after a site survey and consultation.
If you're searching for a solar company in Washington Park, we've organized 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 Washington Park
Factors that Affect Solar Panel Costs in Washington Park
There are several criteria that can play into your total 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
The size of the solar panel system you need for your household, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by nearly $2,730. The brand of solar panels and equipment you want is another factor that will substantially influence costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to cost more. Furthermore, solar equipment is more than just the solar panels themselves. You'll also need to think 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 searching for a solar system that's in your budget.
Solar Financing Terms
Most solar installers in Washington Park provide solar loans, which reduce your upfront costs of installing a solar system. When trying to figure out your overall cost, you should also calculate the interest you'll pay if you opt for a solar loan. Also, paying more upfront can reduce the total interest paid over time.
Solar Panel Installation Company
Lastly, the company you opt for to install your solar panels can play a part in determining the cost. Washington Park's solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Washington Park are more knowledgeable about local solar incentives and can help you learn about additional rebates or tax exemptions. Though, 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 | $7,648 | 15.2 years |
| 8 kW | $2.78 | $15,594 | $10,503 | 14.9 years |
| 10 kW | $2.73 | $19,110 | $13,511 | 14.6 years |
| 12 kW | $2.68 | $22,473 | $16,672 | 14.4 years |
| 14 kW | $2.62 | $25,684 | $19,986 | 14.1 years |
| 16 kW | $2.57 | $28,741 | $23,453 | 13.8 years |
| 18 kW | $2.51 | $31,646 | $27,072 | 13.5 years |
| 20 kW | $2.46 | $34,398 | $30,845 | 13.2 years |
How to Save on Solar Panels
There are a large number of companies available in Washington Park, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be challenging, so here are some tips to help you decide:
- Warranty: Companies typically offer different types of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Reputation: Make sure your solar system installer has a good reputation by verifying it has certifications and licenses, checking its work history and reading reviews by previous customers and solar experts like the EcoWatch team.
- Solar Panel Brands: Different companies carry different brands and models of panels. If you know you want a specific brand, make sure the solar panel company you're considering has it.
- Contract: When reading through your solar installer's contract, ask for clarification about any terms you're not sure of and be sure you understand what happens in scenarios such as a system part breaking or if the company goes out of business.
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 Washington Park, IL Solar Cost FAQs
What is the average cost of installing solar panels in Washington Park?
The average cost of solar panels in Washington Park is about $13,650 for a 5-kW system and $27,300 for a 10-kW system before the ITC, but the actual cost will depend on stuff like the model of solar panels you want, what size system you need and how much energy you consume.
Is cost the most important thing to keep in mind when buying solar panels?
Cost is certainly one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
How much can I save on energy bills after switching to solar?
Solar panels can potentially eliminate your electricity bills depending on your location 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 $652.43 per year.
How many solar panels do I need to power my home?
To figure out what solar panel system size you need, you should find out how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can typically produce about 250 to 400 watt-hours per hour, the average household will need 20 to 35 panels.
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.