Solar Panel Cost Guide in Palatine, NY (2023 Update)
- Palatine Solar Installation Cost: $9,195
- 25-Year Savings: $7,012
- Payback Period: 14.2 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Palatine
Let's have a look at the average cost of solar panels in Palatine.
The average cost of a solar system in Palatine is 2.95 per watt. Since a 4.5-kW system is needed to cover the energy needs of a typical home in Palatine, the average price of going solar will be about $9,189 after claiming the federal solar tax credit of 30%.
Remember that the numbers above are only averages. The price you'll end up paying for solar will differ based on your household energy use, the type of solar panels you want to get, your solar contractor and more. Even with the high initial cost, the average Palatine homeowner can save about $14,000 on their energy bills over 20 years, which is one of the advantages of solar.
To calculate your potential savings and connect with a local solar expert, click the button below.
Solar savings over time in Palatine
| Year | Return on Investment |
|---|---|
| 1 years | $-9,141 |
| 3 years | $-9,033 |
| 5 years | $-8,925 |
| 7 years | $-8,817 |
| 9 years | $-8,709 |
| 11 years | $-8,601 |
| 13 years | $-8,493 |
| 15 years | $-8,385 |
| 17 years | $-8,277 |
| 19 years | $-8,169 |
| 21 years | $-8,061 |
| 23 years | $-7,952 |
| 25 years | $-7,844 |
Top Solar Installers in Palatine
Although it's possible to install solar panels by yourself, it requires extra effort and expertise. That's one of the reasons most people choose a solar panel installer. Also, companies with a good reputation that are more expensive upfront could actually save you money in the long run with their warranties, repair services and expert design.
There are a number of licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
See all of the solar companies in Palatine
Factors that Affect Solar Panel Costs in Palatine
Cost is usually one of the most important factors for homeowners wanting to invest in solar. There are a few key factors that affect your total cost in Palatine: solar equipment and system size, financing options and the solar installation company you choose. We'll cover each of these briefly below.
Solar Equipment
When it comes to estimating the cost of a solar system in Palatine, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home's energy usage, which you can determine by looking at past energy bills. Your total cost can increase by around $2,950 for each additional kilowatt you need. The type of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you get the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. On the other hand, more efficient panels could save you more in the long run on your power bills. Additionally, extra products, such as solar batteries, can bump up your total well above the Palatine average.
Solar Financing Terms
Most solar companies in Palatine have solar loans, which reduce your upfront costs of installing a solar system. It's a good idea to add the interest you'll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and the amount of time it'll take to pay back the loan.
Solar Panel Installation Company
Lastly, the company you choose to install your solar panels can play a part in determining the cost. Palatine's solar companies all have different labor costs and add varying upcharges to equipment. You may notice national solar installers that have lower prices due to their bigger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or promotions to compete with those major players.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $3.07 | $12,886 | $8,953 | 14.8 years |
| 8 kW | $3.01 | $16,850 | $12,268 | 14.5 years |
| 10 kW | $2.95 | $20,650 | $15,747 | 14.2 years |
| 12 kW | $2.89 | $24,284 | $19,393 | 13.9 years |
| 14 kW | $2.83 | $27,754 | $23,203 | 13.6 years |
| 16 kW | $2.77 | $31,058 | $27,178 | 13.3 years |
| 18 kW | $2.71 | $34,196 | $31,319 | 13.0 years |
| 20 kW | $2.66 | $37,170 | $35,625 | 12.8 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 pick the right company for you, here are some tips to keep in mind:
- Solar Panel Brands: The type of solar panel you'd like to install plays a role in which company you should choose, since different companies offer different panels.
- Contract: Before signing a contract with a solar company, make sure to read it through carefully so you understand the terms. Also, ask questions if you aren't sure about some of the terms, such as what the warranty covers and what services you can expect from them.
- Installation Process: When going solar, it's essential to keep an open line of communication with your solar panel installer. Confirm that you understand how the installation process will go and the project timeline.
- Warranty: If you're concerned about the endurance of your solar system, checking if your company offers a 25-year, all-inclusive warranty can help put you at ease.
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
EcoWatch's Palatine, NY Solar Cost FAQs
How much does it cost to install solar panels in Palatine?
This is a difficult question to answer precisely, because the cost depends on many factors. Broadly speaking, it costs about $14,750 for a 5-kW system and $29,500 for a 10-kW system after the ITC is applied. It will cost more if you want additional solar equipment or higher quality panels, or if you have higher-than-average energy needs. Conversely, you can spend less if you opt for a smaller solar panel system or less expensive solar panels.
Are solar panels free in Palatine?
Solar panels aren't free in Palatine, 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 you can take advantage of.
Does Palatine have a net metering program?
Most states have net metering programs of some kind. Through these, you can either be compensated for the extra power your system generates or or receive credits to put toward future utility bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.
How long do solar panels last in Palatine?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is the amount of energy they produce 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.