Solar Panel Cost Guide in Wayne, IL (2023 Update)
- Wayne Solar Installation Cost: $12,479
- 25-Year Savings: $13,533
- Payback Period: 12.0 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Wayne
Here's how much it might cost to make the switch to solar in Wayne.
Although the national average of solar panels is $2.66 per watt, solar panels in Wayne typically cost about 2.73. The average solar panel system size in Wayne is around 6.5 kilowatts, meaning a cost of about $12,479 for a solar installation, or $17,845 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 actual cost of installing solar panels can vary depending on multiple factors, such as what size system you need, your energy usage and what company you go with. But, after you've paid the upfront cost of installation, the payback for most homeowners is typically good, with a net average savings of about $15,000 over 20 years on energy bills.
To receive a free quote from a top solar installer in Wayne, you can click the button below.
Solar savings over time in Wayne
| Year | Return on Investment |
|---|---|
| 1 years | $-11,438 |
| 3 years | $-9,357 |
| 5 years | $-7,276 |
| 7 years | $-5,196 |
| 9 years | $-3,115 |
| 11 years | $-1,034 |
| 13 years | $1,047 |
| 15 years | $3,128 |
| 17 years | $5,209 |
| 19 years | $7,290 |
| 21 years | $9,371 |
| 23 years | $11,452 |
| 25 years | $13,533 |
Top Solar Installers in Wayne
Many homeowners opt for a solar panel company since trying to install solar panels on your own can be hard. The expertise that solar installers offer can be valuable as well, particularly if you don't quite know what kind of solar equipment would be right for your home.
You can get a free estimate from a local solar installer 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 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 Wayne
Factors that Affect Solar Panel Costs in Wayne
Even though the average cost of a solar system in Wayne is $12,479, your actual cost may be above or below the average. There are quite a few factors that can have a significant impact on the cost of a residential solar panel installation. Below are some of the more important things to keep in mind.
Solar Equipment
The size of the solar system you need to offset your energy usage, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by about $2,730. Some solar brands — like Maxeon from SunPower — are more costly upfront but also tend to offer better efficiency. In a city like Wayne, where sunlight is relatively abundant, efficiency can quickly pay off. Also, if you have a small roof or limited space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Most solar installers in Wayne have solar loans, which reduce the initial cost of installing solar panels. It's wise to add the interest you'll pay in your final cost estimate. If you can afford to pay a larger down payment, you can reduce your total costs and how long it'll take to pay back the loan.
Solar Panel Installation Company
Finally, the company you get to install your solar system can impact the cost. Wayne's solar companies all have different labor costs and add varying upcharges to equipment. Companies that only sell high-efficiency and high-priced products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come with an above-average cost. It's best to do some research and find a company that offers the products, warranties and services you want and also is 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 | $11,963 | 12.5 years |
| 8 kW | $2.78 | $15,594 | $16,256 | 12.2 years |
| 10 kW | $2.73 | $19,110 | $20,702 | 12.0 years |
| 12 kW | $2.68 | $22,473 | $25,301 | 11.8 years |
| 14 kW | $2.62 | $25,684 | $30,053 | 11.5 years |
| 16 kW | $2.57 | $28,741 | $34,958 | 11.3 years |
| 18 kW | $2.51 | $31,646 | $40,016 | 11.0 years |
| 20 kW | $2.46 | $34,398 | $45,227 | 10.8 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you find the right company for you, here are some tips to keep in mind:
- Contract: Review the contract terms carefully to make sure you understand the cost breakdown, completion timeline rebates and warranties.
- Solar Panel Brands: Each solar panel brand and type has varying levels of quality, durability and energy efficiency. They will come at different price points as well. The company you choose plays a role in which solar panel brands you have access to.
- Reputation: Your solar installer should have a sound 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 satisfied reviews from past customers.
- Installation Process: One of the most important things to understand when adopting solar power is the installation process itself. Be sure to clarify any details you should know with your solar company, such as what permits you should secure and how long the project will take.
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 Wayne, IL Solar Cost FAQs
What is the average cost of installing solar panels in Wayne?
The average cost of solar panels in Wayne 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 certain factors like the model of solar panels you want, what size system you need and how much energy you use.
Can you get solar panels for free in Wayne?
A solar panel system isn't free in Wayne, 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.
Is it worth going solar in Wayne?
Solar panels can be a beneficial investment for many homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your power bills are already pretty low, solar panels might not be for you.
How many solar panels do I need to power my home?
To figure out what solar panel system size you need, you need to know how much energy your home uses 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.