Solar Panel Cost Guide in Wood Dale, IL (Oct 2022)

  • Wood Dale Solar Installation Cost: $12,479
  • 25-Year Savings: $10,133
  • Payback Period: 13.8 Years

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EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 9/16/2022

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Average Cost of Solar Panels in Wood Dale

We go over average solar pricing in Wood Dale.

The average cost of a solar panel system in Wood Dale is $3 per watt. The average Wood Dale homeowner needs a 6.5-kilowatt system, which would cost about $12,479, or $9,234 after the federal solar tax credit of 30% is applied.

These figures are just estimates, and the cost of going solar for you will look different based on your energy needs and what company you want to go with. Many homeowners find going solar is a sound investment. The average homeowner in Wood Dale can save about $13,000 on their electricity bills over 20 years.

Click the button below to get connected to a reputable solar company in Wood Dale for a custom estimate.

Solar savings over time in Wood Dale

Year Return on Investment
1 years $-11,574
3 years $-9,765
5 years $-7,956
7 years $-6,148
9 years $-4,339
11 years $-2,530
13 years $-721
15 years $1,088
17 years $2,897
19 years $4,706
21 years $6,515
23 years $8,324
25 years $10,133

Top Solar Installers in Wood Dale

Although you can install solar panels yourself, it requires extra energy and knowledge. Because of that, the majority of homeowners choose to hire a solar panel installer. The payback period on a solar system will vary based on factors like your roof configuration and energy usage, but going with a solar installer can shorten it. Your provider will be able to help you get the most out of incentives available in your area.

There are several licensed solar professionals that can take care of your solar installation project. Here are our suggestions:

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Solar Financing

Blue Raven Solar

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries (coming 2022)

Best Technology

The Green Panel

★★★★★
4.5

  • 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 Wood Dale

Factors that Affect Solar Panel Costs in Wood Dale

Even though the average cost of solar panels in Wood Dale is $12,479, your actual cost may be above or below the average. There are many factors that can have a major impact on the cost of a solar panel installation. Below are some of the more important things to keep in mind.

Solar Equipment Size

The cost of solar panel systems varies by thousands of dollars due to a variety of factors. One of the major factors is the system size. Solar power systems that have better efficiency or power generation use better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $2,730. There are several different solar panel brands and the one you choose also changes the cost. Typically, the brands that offer higher efficiency tend to also be more expensive. In addition, the type of equipment you want to install can affect your total cost. If you just need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.

Solar Financing Terms

Many homeowners find the average cost of solar in Wood Dale to be too steep, even if the investment pays off over time. Thankfully, almost every solar installer in the area provides access to financing options. Solar loans drastically decrease upfront costs for most homeowners, but they also result in paying more over time due to interest. You'll have to consider the long-term cost of loans, including the amount of interest you'll pay over the length of the loan. If you're only able to 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 getting a solar loan with a low interest rate could reduce your costs remarkably.

Solar Panel Installation Company

The solar panel installer you choose will impact your total cost to make the switch to solar energy. Different companies will bill different amounts for the equipment and labor. Larger national companies generally have lower costs, but some local companies compete with them by promoting sales and discounts. While the smaller companies might not have access to 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 $8,840 14.4 years
8 kW $2.78 $15,594 $12,093 14.1 years
10 kW $2.73 $19,110 $15,498 13.8 years
12 kW $2.68 $22,473 $19,057 13.5 years
14 kW $2.62 $25,684 $22,768 13.3 years
16 kW $2.57 $28,741 $26,632 13.0 years
18 kW $2.51 $31,646 $30,649 12.7 years
20 kW $2.46 $34,398 $34,819 12.4 years

Solar Incentives in Wood Dale

Name Special Assessment for Solar Energy Systems
Incentive Amount Varies
More Info Click here

Name ComEd - Energy Efficiency Program for Residential
Website Visit here
More Info Click here

Name Solar Renewable Energy Credits
Website Visit here
More Info Click here

Name Residential Renewable Energy Tax Credit
Website Visit here
More Info Click here

How to Save on Solar Panels

The solar panel company you go with will be a major factor in determining not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are several important things you should consider, including:

  • Reputation: Make sure your solar installer has a good reputation by confirming it has certifications and licenses, checking its work history and reading reviews by past customers and solar experts like the EcoWatch team.
  • Solar Panel Brands: The type of solar panel you want to install plays a part in which company you should choose, since different companies have different panels.
  • Contract: It's important to read your solar installer's contract carefully to understand what services they will provide, what the warranty covers and what expectations you should have about the installation process.
  • Warranty: A comprehensive, 25-year warranty can help keep your solar panels running for years to come and save you money on repairs and maintenance.

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Solar Financing

Blue Raven Solar

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries (coming 2022)

Best Technology

The Green Panel

★★★★★
4.5

  • 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 Wood Dale, IL Solar Cost FAQs

How much does it cost to install solar panels in Wood Dale?

This is a tough question to answer exactly, because the cost depends on a variety of 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 be more expensive if you want extra solar equipment or higher quality panels, or if you have higher-than-average energy consumption. Conversely, you can spend less if you choose a smaller solar panel system or less efficient solar panels.

Should I lease or buy solar panels in Wood Dale?

Leasing solar panels can be an appealing choice, as it often comes with low or $0 upfront payments. The downside is that you won't be able to save as much. If you lease, you don't own the system, so you can't claim any tax rebates and credits and your home value won't increase. Buying solar panels is a better way to go if you want to maximize your savings.

Is switching to solar power worth it?

Whether or not solar panels are worth it depends on some different factors like how much you pay for electricity and how much direct sunlight your roof gets.

How long do solar panels last in Wood Dale?

Even 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 opt to replace them after having them for that long or you can continue to use 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.

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