Solar Panel Cost Guide in Winnetka, IL (2024 Update)
- Winnetka Solar Installation Cost: $16,818
- 25-Year Savings: $12,393
- Payback Period: 17.1 Years
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Average Cost of Solar Panels in Winnetka
Here’s how much it might cost to go solar in Winnetka.
The national average cost of solar panels is $2.66 per watt, but in Winnetka it’s 4 per watt.Because a 6.4-kW system is needed to cover the energy consumption of a typical home in Winnetka, the average price of going solar will be about $16,818 after claiming the federal solar tax credit of 0.
How much you pay can be higher or lower than the average in Winnetka depending on a few factors, such as the kind of solar panels you choose and the solar installer you hire.For many homeowners, the upfront investment in solar power is worth paying. On average Winnetka homeowners see about $15,000 in savings on utility bills over 20 years.
To calculate your potential savings and connect with a local solar company, click the button below.
Solar savings over time in Winnetka
| Year | Return on Investment |
|---|---|
| 1 years | $-15,662 |
| 3 years | $-13,350 |
| 5 years | $-11,038 |
| 7 years | $-8,725 |
| 9 years | $-6,413 |
| 11 years | $-4,100 |
| 13 years | $-1,788 |
| 15 years | $524 |
| 17 years | $2,837 |
| 19 years | $5,149 |
| 21 years | $7,461 |
| 23 years | $9,774 |
| 25 years | $12,086 |
Top Solar Installers in Winnetka
Trying to put up solar panels on your own can be a time-consuming undertaking, which is why hiring a solar installer is a good option for many homeowners. Plus, if you’re not certain what brand of solar panels and equipment you want, a solar installer can help you figure that out after a site survey and consultation.
There are a number of licensed solar professionals that can install solar panels for you. Here are our suggestions:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
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 Winnetka
Factors that Affect Solar Panel Costs in Winnetka
There are several criteria that can play into your solar system installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar panels.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household uses, the larger your system will likely need to be. You can expect to pay about $3,760 per kilowatt in Winnetka.The model of solar panels and equipment you get is another factor that will largely influence costs. Solar panels that are more efficient, like monocrystalline panels, tend to come at a higher price. Further, solar equipment goes beyond just the solar panels themselves. You’ll also need to consider the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when researching a solar system that’s in your budget.
Solar Financing Terms
Solar panels can save you money on energy bills over many years, but they can also be a big investment. That’s why many Winnetka homeowners choose to finance their solar panel systems to make paying for solar more affordable.However, the interest on solar loans also adds to your total costs, so it’s vital to keep that in mind 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 solar installation company you pick will affect your total cost to go solar. Different companies will charge different amounts for the equipment and labor.Additionally, some companies in Winnetka know more about local solar incentives and can help you take advantage of additional rebates or tax exemptions. However, 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 | $3.91 | $16,424 | $6,679 | 17.8 years |
| 8 kW | $3.84 | $21,477 | $9,326 | 17.4 years |
| 10 kW | $3.76 | $26,320 | $12,184 | 17.1 years |
| 12 kW | $3.68 | $30,952 | $15,253 | 16.7 years |
| 14 kW | $3.61 | $35,374 | $18,532 | 16.4 years |
| 16 kW | $3.53 | $39,585 | $22,022 | 16.1 years |
| 18 kW | $3.46 | $43,586 | $25,722 | 15.7 years |
| 20 kW | $3.38 | $47,376 | $29,633 | 15.4 years |
How to Save on Solar Panels
The solar company you opt for will impact not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are several important things you should consider, such as:
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for sustainable energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a solid reputation and is qualified to get the job done well. Another way you can verify your installer’s reputation is by reading reviews.
- Installation Process: An important thing to understand when going solar is the installation process itself. Be sure to align on any details you should know with your solar company, such as what permits you should secure and what the project timeline is.
- Solar Panel Brands: Not all solar companies offer the same brands of solar panels, so the brand and type of panel you want can play a big role in the company you opt for.
- Contract: Look through the contract terms carefully to make sure you understand the cost breakdown, completion timeline incentives and warranties.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
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 Winnetka, IL Solar Cost FAQs
How much does it cost to install solar panels in Winnetka?
The average cost of solar panels in Winnetka is about $18,800 for a 5-kW system and $37,600 for a 10-kW system before the ITC, but the actual cost will depend on certain factors such as the kind of solar panels you want, what size system you need and how much energy you consume.
Can you get solar panels for free in Winnetka?
You can’t get solar panels for free in Winnetka. However, you may still be able to afford them on a lower budget. You can lease solar panels for a low upfront cost or, if you want to own your solar panels, you can finance them with a solar loan.
How will having solar panels impact my property value?
Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Winnetka is currently $1,450,451, which means you can expect a value of about $59,468 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Winnetka is a worthwhile investment.
How many solar panels should I get to power my home?
To figure out what solar panel system size you need, you need to know how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can generally 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.