Solar Panel Cost Guide in Oakbrook, KY (Mar 2023)
- Oakbrook Solar Installation Cost: $15,839
- 25-Year Savings: $20,545
- Payback Period: 10.9 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 Oakbrook
Here's how much it might cost to make the switch to solar in Oakbrook.
The national average cost of solar panels is $2.66 per watt, but in Oakbrook it's 2.34 per watt. The average solar panel system size in Oakbrook is around 9.7 kilowatts, meaning a cost of about $15,839 for a solar installation, or $22,650 before the 30% federal solar tax credit is applied.
The prices above are just estimates to give you an idea of how much a solar energy system could cost. The actual cost of installing solar panels can vary based on multiple factors, such as how many panels you need, your energy usage and what company you go with. With average savings of about $14,000 on utility bills over 20 years, many homeowners in Oakbrook find going solar can be quite rewarding.
You can click the button below to get connected with a vetted solar installer in Oakbrook for a quote for your home.
Solar savings over time in Oakbrook
| Year | Return on Investment |
|---|---|
| 1 years | $-14,384 |
| 3 years | $-11,473 |
| 5 years | $-8,563 |
| 7 years | $-5,652 |
| 9 years | $-2,741 |
| 11 years | $170 |
| 13 years | $3,080 |
| 15 years | $5,991 |
| 17 years | $8,902 |
| 19 years | $11,813 |
| 21 years | $14,724 |
| 23 years | $17,634 |
| 25 years | $20,545 |
Top Solar Installers in Oakbrook
Installing solar panels yourself can be a stressful task, which is why getting a solar installation company is a good option for many homeowners. The expertise that solar installers provide can be invaluable as well, particularly if you aren't sure what brand of solar equipment you need.
If you're looking for a solar company in Oakbrook, we've compiled 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 Oakbrook
Factors that Affect Solar Panel Costs in Oakbrook
There are many criteria that can determine your solar panel 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
Solar system size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of installing solar panels. Because of that, it's important to accurately ascertain the size of the solar energy system needed for your home by figuring out your energy needs. Some solar brands — like Maxeon from SunPower — cost more upfront but also tend to offer better efficiency. In a city like Oakbrook, where sunlight is relatively abundant, efficiency can quickly pay off. Also, if you have a small roof or limited space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
If paying for a solar system out of pocket is too expensive, solar loans are an affordable choice because they lower your upfront costs and let you pay for your system over five to seven years on average. Even though solar loans make adopting solar energy more accessible for Oakbrook homeowners, they can also increase the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you put down a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The solar installer you hire to handle your switch to solar energy can play a part in your total costs. There are about 3 solar panel companies operating in Oakbrook, and each can charge varying amounts for labor and equipment. Companies that only sell high-efficiency and high-priced products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally cost more. It's best to do some research and decide on the company that has the products, warranties and services you're looking for and also fits within your budget.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $2.43 | $10,221 | $12,357 | 11.3 years |
| 8 kW | $2.39 | $13,366 | $16,739 | 11.1 years |
| 10 kW | $2.34 | $16,380 | $21,251 | 10.9 years |
| 12 kW | $2.29 | $19,263 | $25,894 | 10.7 years |
| 14 kW | $2.25 | $22,015 | $30,669 | 10.4 years |
| 16 kW | $2.20 | $24,636 | $35,574 | 10.2 years |
| 18 kW | $2.15 | $27,125 | $40,610 | 10.0 years |
| 20 kW | $2.11 | $29,484 | $45,778 | 9.8 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you select the right company for you, here are some tips to keep in mind:
- Warranty: Each company may offer different types of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- 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 good reputation and is qualified to install your solar system. Another way you can check your installer's reputation is by reading reviews.
- Contract: When looking over your solar installer's contract, ask questions about any terms you're not sure of and make sure you understand what happens in scenarios such as a system component breaking or the company going out of business.
- Solar Panel Brands: The kind of solar panel you want to get plays a role in which company you should go with, since different companies have 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 Oakbrook, KY Solar Cost FAQs
What is the average cost of installing solar panels in Oakbrook?
This is a difficult question to answer precisely, because the cost depends on many factors. Generally speaking, it costs about $11,700 for a 5-kW system and $23,400 for a 10-kW system after the ITC is applied. It will cost more if you want other solar equipment or higher quality panels, or if you have higher-than-average energy usage. Conversely, you can spend less if you choose a smaller solar panel system or less expensive solar panels.
Are solar panels free in Oakbrook?
A solar panel system isn't free in Oakbrook, but there are some options that can make getting them more viable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can further reduce the cost.
Do solar panels increase how much your home is worth?
Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Oakbrook is currently $156,700, so you could be looking at a value of about $6,425 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Oakbrook is a fruitful investment.
What solar power system size is right for my home?
To figure out what solar panel system size you need, you should find out how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can typically 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.