Solar Panel Cost Guide in Winfield, IL (2023 Update)
- Winfield Solar Installation Cost: $12,479
- 25-Year Savings: $13,436
- Payback Period: 12.0 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Winfield
Find out what the average cost of a solar system is in Winfield.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Winfield, the average cost of a solar system is 2.73 per watt. To account for the typical energy needs of the average home in Winfield, most homeowners require a 6.5-kilowatt system. Using the figure above, a solar installation costs about $12,479, or $17,845 before the federal solar tax credit of 30% is applied.
Keep in mind that the figures above are only estimates based on the average Winfield homeowner. The cost of a solar system for your home may be different depending on factors unique to your situation, like your household energy use and solar contractor. With typical savings of about $15,000 on energy bills over 20 years, many homeowners in Winfield find going solar can pay off big.
Click the button below to get connected to a highly rated solar installer in Winfield for a personalized quote.
Solar savings over time in Winfield
| Year | Return on Investment |
|---|---|
| 1 years | $-11,442 |
| 3 years | $-9,369 |
| 5 years | $-7,296 |
| 7 years | $-5,223 |
| 9 years | $-3,149 |
| 11 years | $-1,076 |
| 13 years | $997 |
| 15 years | $3,070 |
| 17 years | $5,143 |
| 19 years | $7,217 |
| 21 years | $9,290 |
| 23 years | $11,363 |
| 25 years | $13,436 |
Top Solar Installers in Winfield
Although it's possible to install solar panels by yourself, it requires extra labor and expertise. Because of that, most homeowners choose to hire a solar panel installer. The expertise that solar installers offer can be useful as well, particularly if you aren't sure what type of solar equipment you need.
If you're looking for a solar company in Winfield, we've put together 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 Winfield
Factors that Affect Solar Panel Costs in Winfield
Cost is usually one of the most important factors for homeowners who are considering investing in solar. There are a few key factors that determine your overall cost in Winfield: solar equipment and system size, financing options and the solar installation company you choose. We'll cover each of these briefly below.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a variety of factors. One of the notable factors is the system size, which is measured in kilowatts (kW). Solar power systems with greater efficiency or power generation 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 significantly affect costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to be more costly. Furthermore, 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 searching for a solar system that's in your budget.
Solar Financing Terms
If paying for a solar system out of pocket is out of reach, solar loans are a popular option because they decrease your upfront costs and let you pay for your system over five to seven years on average. You'll have to consider the long-term cost of financing options, including the amount of interest you'll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or finding a solar loan with a low APR could reduce your costs considerably.
Solar Panel Installation Company
The solar installer you choose to handle your switch to sustainable energy can play a part in your total costs. There are about 3 solar panel companies operating throughout Winfield, and each can charge varying amounts for labor and equipment. The company's size can sometimes play the most significant role in the cost. Larger national companies, like SunPro and Sunrun, often have lower pricing because of access to more resources and bulk pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or promotion can bring their pricing lower to compete with bigger companies.
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 | $11,874 | 12.5 years |
| 8 kW | $2.78 | $15,594 | $16,138 | 12.3 years |
| 10 kW | $2.73 | $19,110 | $20,554 | 12.0 years |
| 12 kW | $2.68 | $22,473 | $25,124 | 11.8 years |
| 14 kW | $2.62 | $25,684 | $29,846 | 11.6 years |
| 16 kW | $2.57 | $28,741 | $34,721 | 11.3 years |
| 18 kW | $2.51 | $31,646 | $39,749 | 11.1 years |
| 20 kW | $2.46 | $34,398 | $44,930 | 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 select the right company for you, here are some tips to keep in mind:
- Reputation: Your solar installer should have a sound reputation as a company and have demonstrated 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 previous customers.
- Contract: Review the contract terms thoroughly to make sure you understand the total cost, project timeline rebates and warranties.
- Warranty: Companies typically offer different types of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Solar Panel Brands: The model of solar panel you need to install plays a part in which installer you should go with, since different companies provide different panels.
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 Winfield, IL Solar Cost FAQs
How much does it cost to install solar panels in Winfield?
This is a tough question to answer exactly, because the cost depends on many 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 extra solar equipment or higher quality panels, or if you have above-average energy needs. Conversely, you can spend less if you go with a smaller solar panel system or less expensive solar panels.
What other factors should I consider aside from cost when buying solar panels?
Cost is definitely one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
How will having solar panels impact my home value?
Installing solar panels on your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Winfield is currently $311,617, which means you could be looking at a value of about $12,776 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Winfield is a fruitful investment.
How often do you have to replace solar panels?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down 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.