Solar Panel Cost Guide in Wilmette, IL (2023 Update)
- Wilmette Solar Installation Cost: $12,211
- 25-Year Savings: $11,895
- Payback Period: 12.7 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Wilmette
Let's take a look at the average cost of solar in Wilmette.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Wilmette, the typical cost of solar panels is 2.73 per watt. Using this figure, a typical 6.4-kW system would cost about $12,211 before the 30% federal solar tax credit is applied.
Bear in mind that the figures above are only estimates based on the average Wilmette 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. Even with the significant upfront cost, the average Wilmette homeowner can save about $14,000 on their energy bills over 20 years, which is one of the advantages of solar.
You can click the button below to get connected with a top solar company in Wilmette that can help you get a more accurate cost estimate for your home.
Solar savings over time in Wilmette
| Year | Return on Investment |
|---|---|
| 1 years | $-11,055 |
| 3 years | $-8,743 |
| 5 years | $-6,430 |
| 7 years | $-4,118 |
| 9 years | $-1,806 |
| 11 years | $507 |
| 13 years | $2,819 |
| 15 years | $5,131 |
| 17 years | $7,444 |
| 19 years | $9,756 |
| 21 years | $12,068 |
| 23 years | $14,381 |
| 25 years | $16,693 |
Top Solar Installers in Wilmette
Installing solar panels on your own can be a time-consuming project, which is why using a solar installation company is a good option for many homeowners. A solar company can also help save you money over the lifespan of your system by providing warranties, repairs and part replacements.
If you'd like to start using solar energy but still aren't certain which solar system installer to go with, here are our recommendations for providers near you:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
See all of the solar companies in Wilmette
Factors that Affect Solar Panel Costs in Wilmette
Though the average cost of a solar system in Wilmette is $12,211, your actual cost may differ. There are several factors that can have a sizable impact on the cost of a solar system installation. Below are some of the more important things to take into consideration.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more power your household uses, the larger your system will likely need to be. You can expect to pay about $2,730 per kilowatt in Wilmette. Some solar panel brands — like Maxeon from SunPower — cost more upfront but also tend to offer better efficiency. In a city like Wilmette, where sunlight is relatively abundant, efficiency can quickly pay off. Also, if you have a small roof or you don't have a lot of 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
Most solar companies in Wilmette provide solar loans, which reduce the initial cost of installing solar. 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 on your down payment can lower the total interest paid over time.
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 install new cabinets, for instance, there's no shortage of solar installers that offer a range of services for different budgets. Larger national companies generally have lower costs, but some local companies undercut them by offering sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or add-on 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
Since the type 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 pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- Contract: Read the contract terms thoroughly to make sure you understand how much it will cost, project completion timeline incentives and warranties.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and how much efficiency they need. Even though there are many options for which kind of solar panel you can get, not every company will have access to the exact one you may want or need, so be sure to take a look at their list of options before deciding.
- Warranty: A high-quality company stands out from other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Reputation: Companies that have been in business for many years likely have a solid reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide quality aftercare and customer service, such as part repairs and replacements.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Wilmette, IL Solar Cost FAQs
What is the average cost of installing solar panels in Wilmette?
This is a tough 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. You can expect to pay more if you want extra solar equipment or more efficient panels, or if you have above-average energy usage. On the flip side, you can spend less if you go with a smaller solar panel system or less expensive solar panels.
Is cost the most important thing to consider when buying solar panels?
The upfront cost is a crucial factor to consider, but whether it's the most important for you depends on your goals for going solar. In cities where rooftop space is limited, efficiency can trump the cost. Other factors that are important to take into account are the quality and durability of your solar panels.
Do solar panels increase your 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 Wilmette is currently $826,867, so you can look forward to a value of about $33,902 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Wilmette is a rewarding investment.
How many solar panels do I need to power my home?
The exact number of solar panels you need depends on your household energy needs and the average daily sunlight your roof gets. You can 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 install 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.