Solar Panel Cost Guide in Wheeling, IL (2023 Update)
- Wheeling Solar Installation Cost: $12,211
- 25-Year Savings: $10,400
- Payback Period: 13.5 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Wheeling
We break down average solar pricing in Wheeling.
The national average cost of solar panels is $2.66 per watt, but in Wheeling it's 2.73 per watt. To account for the typical energy needs of the average home in Wheeling, most homeowners require a 6.4-kilowatt system. Using the figure above, a solar installation costs around $12,211, or $17,462 before the federal solar tax credit of 30% is applied.
Bear in mind that the figures above are only estimates based on the average Wheeling homeowner. The price of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor. Many homeowners find going solar is a sound investment. The average homeowner in Wheeling can save around $13,000 on their energy bills over 20 years.
To see your potential ROI and connect with a local solar installer, click the button below.
Solar savings over time in Wheeling
| Year | Return on Investment |
|---|---|
| 1 years | $-11,307 |
| 3 years | $-9,498 |
| 5 years | $-7,689 |
| 7 years | $-5,880 |
| 9 years | $-4,071 |
| 11 years | $-2,262 |
| 13 years | $-453 |
| 15 years | $1,356 |
| 17 years | $3,165 |
| 19 years | $4,974 |
| 21 years | $6,783 |
| 23 years | $8,592 |
| 25 years | $10,400 |
Top Solar Installers in Wheeling
Although you can install solar panels yourself, it involves extra effort and expertise. For that reason, most homeowners choose to go with a solar panel installer. The payback period on an investment in solar panels will vary based on factors like your location and energy use, but going with a solar company can shorten it. Your provider will be able to help you identify incentives available in your area.
Working with a licensed solar company can make going solar easier. Here are our recommendations:
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 Wheeling
Factors that Affect Solar Panel Costs in Wheeling
Cost is typically one of the most important factors for homeowners wanting to invest in solar. There are a few key factors that will push your cost above or below the average in Wheeling: solar equipment and system size, financing options and the solar installation company you choose. We'll cover each of these briefly below.
Solar Equipment
When it comes to estimating the price of a solar energy system in Wheeling, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are mainly based on your home's energy consumption, which you can determine by looking at past power bills. Your total cost can increase by about $2,730 for each additional kilowatt you need. The solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you opt for 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 over time on your energy bills. In addition, add-on products, like solar batteries, can bring your total well above the Wheeling average.
Solar Financing Terms
If paying for solar panels out of pocket is out of reach, solar loans are a popular choice because they decrease your upfront costs and let you pay for your system over five to seven years on average. However, the interest on solar loans also increases your total costs, so it's crucial to consider that as well. You can always reduce the total you pay in interest and in some cases even your APR by putting more money down.
Solar Panel Installation Company
The last key cost factor you should keep in mind is the installer you choose. Given the booming popularity of sustainable energy solutions in Wheeling, you'll have plenty of options to choose from, but each comes at different price points for labor and equipment. Additionally, some companies in Wheeling 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 end up saving you 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 | $9,307 | 14.0 years |
| 8 kW | $2.78 | $15,594 | $12,715 | 13.8 years |
| 10 kW | $2.73 | $19,110 | $16,276 | 13.5 years |
| 12 kW | $2.68 | $22,473 | $19,990 | 13.2 years |
| 14 kW | $2.62 | $25,684 | $23,856 | 13.0 years |
| 16 kW | $2.57 | $28,741 | $27,876 | 12.7 years |
| 18 kW | $2.51 | $31,646 | $32,048 | 12.4 years |
| 20 kW | $2.46 | $34,398 | $36,374 | 12.2 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you find the right company for you, here are some tips to keep in mind:
- Contract: When reading over your solar installer's contract, ask questions about any terms you're not sure of and make sure you understand what happens in scenarios such as a system component breaking or the company going out of business.
- Warranty: If you're concerned about the longevity of your solar panels, ensuring your company offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Reputation: Your solar installer should have a good reputation as a company and have verifiable expertise in the field. A couple of ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from past customers.
- Solar Panel Brands: The type of solar panel you want plays a role in which company you should go with, since different companies have different panels.
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 Wheeling, IL Solar Cost FAQs
What is the average cost of installing solar panels in Wheeling?
This is a hard question to answer exactly, because the cost depends on a few different 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 cost more if you want additional solar equipment or higher quality panels, or if you have higher-than-average energy needs. On the flip side, you can spend less if you choose a smaller solar panel system or cheaper solar panels.
Can you get solar panels for free in Wheeling?
A solar panel system isn't free in Wheeling, but there are some options that can make getting them more viable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can further reduce the cost.
How will having solar panels impact my home value?
Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Wheeling is currently $323,400, which means you can look forward to a value of about $13,259 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Wheeling is a rewarding investment.
How long do solar panels last in Wheeling?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is their energy production will have decreased significantly after that point. You can choose to replace them once you've had them for that long or you can keep using them at a lower efficiency.
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.