Solar Panel Cost Guide in Wilmette, IL (Mar 2023)
- Wilmette Solar Installation Cost: $12,211
- 25-Year Savings: $11,895
- Payback Period: 12.7 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated March 14, 2023
Why you can trust EcoWatch
Average Cost of Solar Panels in Wilmette
We break down average solar pricing in Wilmette.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Wilmette, the average cost of a solar system is 2.73 per watt. Since a 6.4-kW system is needed to cover the energy needs of a typical home in Wilmette, the average price of going solar will be about $12,211 after claiming the federal solar tax credit of 30%.
These figures are only averages, and your own solar costs will look different based on your specific situation and what company you want to go with. Despite the high initial cost, the average Wilmette homeowner can save around $14,000 on their energy bills over 20 years, which is one of the perks of solar.
You can click the button below to get connected with a pre-vetted solar installer in Wilmette for a quote for your home.
Solar savings over time in Wilmette
| Year | Return on Investment |
|---|---|
| 1 years | $-11,247 |
| 3 years | $-9,319 |
| 5 years | $-7,390 |
| 7 years | $-5,462 |
| 9 years | $-3,533 |
| 11 years | $-1,605 |
| 13 years | $324 |
| 15 years | $2,252 |
| 17 years | $4,181 |
| 19 years | $6,109 |
| 21 years | $8,038 |
| 23 years | $9,966 |
| 25 years | $11,895 |
Top Solar Installers in Wilmette
Although you can install solar panels on your own, it involves extra energy and knowledge. For that reason, most people choose to go with a solar panel installer. Also, companies with a high reputation that cost more upfront could actually save you money in the long term with their warranties, repair services and expert design.
If you're on the hunt for a solar company in Wilmette, the EcoWatch team has 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 Wilmette
Factors that Affect Solar Panel Costs in Wilmette
For many Wilmette homeowners, the decision to go solar comes down to cost. However, the range of solar installation costs can be quite wide in Wilmette, with typical prices between $20,000 to $40,000. There are several factors that considerably influence the price you'll pay, which we'll go over below.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a variety of factors. One of the key factors is the system size, which is measured in kilowatts (kW). Solar power systems with better efficiency or power production need 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 kind of solar panels and equipment you want is another factor that will largely affect costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to be more expensive. Further, solar equipment consists of more than 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 a solar system out of pocket can be difficult. Solar loans are offered by most installers in Wilmette, which can bring down, or in some cases totally eliminate, your upfront costs to make solar more affordable. It's wise to factor 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 the amount of time it'll take to pay back the loan.
Solar Panel Installation Company
A final consideration when trying to figure out the cost of solar for your home or business in Wilmette is the company you get to install your solar panel system. As with choosing a company to renovate your kitchen, for example, there's no shortage of solar installers that offer a range of services at different costs. Larger national companies usually have lower costs, but some local companies undercut them by promoting sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or extra services like electric vehicle charger installation, they might be cheaper overall.
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 | $10,710 | 13.2 years |
| 8 kW | $2.78 | $15,594 | $14,586 | 12.9 years |
| 10 kW | $2.73 | $19,110 | $18,615 | 12.7 years |
| 12 kW | $2.68 | $22,473 | $22,796 | 12.4 years |
| 14 kW | $2.62 | $25,684 | $27,131 | 12.2 years |
| 16 kW | $2.57 | $28,741 | $31,618 | 11.9 years |
| 18 kW | $2.51 | $31,646 | $36,258 | 11.7 years |
| 20 kW | $2.46 | $34,398 | $41,051 | 11.4 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 brands and price points. To help you decide on the right company for you, here are some tips to keep in mind:
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a solid reputation and is qualified to install your solar system. Another way you can verify your installer's reputation is by reading reviews.
- Warranty: An all-inclusive, 25-year warranty can help keep your solar panel system running smoothly and save you money on part replacement and repairs.
- Solar Panel Brands: Each solar panel brand and model offers varying levels of quality, longevity and energy efficiency. They will come at different costs as well. The company you choose plays a role in which solar panel brands you have access to.
- Contract: When reading through your solar company's contract, ask for clarification about any terms you're not sure of and make sure you understand what happens in scenarios like 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 Wilmette, IL Solar Cost FAQs
How much does it cost to install solar panels in Wilmette?
This is a difficult question to answer exactly, because the cost depends on many factors. Generally 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 extra solar equipment or more efficient panels, or if you have higher-than-average energy consumption. On the flip side, you can spend less if you want a smaller solar panel system or cheaper solar panels.
What other factors should I consider aside from cost when buying solar panels?
Cost is without a doubt 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 solar panels impact the value of my home?
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 Wilmette is currently $826,867, so you could be looking at a value of about $33,902 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Wilmette is a worthwhile investment.
How long do solar panels last in Wilmette?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger amount of energy production.
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.