Solar Panel Cost Guide in Northbrook, OH (Oct 2022)

  • Northbrook Solar Installation Cost: $13,243
  • 25-Year Savings: $15,013
  • Payback Period: 11.7 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 Northbrook

See how much it might cost to switch to solar power in Northbrook.

In Northbrook, solar panels cost about $3 per watt on average. Because a 7.4-kW system is needed to cover the energy costs of a typical home in Northbrook, the average price of going solar will be about $13,243 before claiming the federal solar tax credit of 30%.

These figures are just estimates, and your own solar costs may differ based on your specific situation and what company you go with. But, once you've paid the initial cost of installation, the payback for most homeowners is quite good, with a net average savings of about $15,000 over 20 years on power bills.

For a free quote from a local solar installer that has been pre-vetted by the EcoWatch team, click the button below.

Solar savings over time in Northbrook

Year Return on Investment
1 years $-12,113
3 years $-9,852
5 years $-7,592
7 years $-5,331
9 years $-3,071
11 years $-810
13 years $1,450
15 years $3,711
17 years $5,971
19 years $8,231
21 years $10,492
23 years $12,752
25 years $15,013

Top Solar Installers in Northbrook

Do-it-yourself solar panel installation is a possibility, but it's an undertaking that can be a headache. Using a solar company can make converting to solar power much easier. The expertise that solar companies provide can be valuable as well, particularly if you don't quite know what kind of solar equipment would be right for your home.

If you're looking for a solar company in Northbrook, we've put together a list of our top suggestions here:

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 Northbrook

Factors that Affect Solar Panel Costs in Northbrook

There are a number of criteria that can determine your installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that does the installation.

Solar Equipment Size

When it comes to estimating the price of a solar system in Northbrook, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are chiefly based on your home's energy usage, which you can figure out by looking at past power bills. Your total cost can increase by around $2,560 for each additional kilowatt you need. The brand of solar panels and equipment you want is another factor that will greatly affect costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to come at a higher price. Plus, solar equipment goes beyond 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

Solar panels can save you money on utility bills over many years, but they can also be a significant investment. That's why many Northbrook homeowners opt to finance their solar panel systems to make paying for solar more affordable. However, the interest on solar loans also adds to your overall costs, so it's vital to include that in your estimate as well. You can always bring down the total you pay in interest and in some cases even your APR by making a larger down payment.

Solar Panel Installation Company

A final consideration when trying to evaluate the cost of solar for your home or business in Northbrook is the company you get to install your solar panel system. As with choosing a company to build a deck or pool, for instance, there are plenty of solar installers that provide a range of services for different budgets. Additionally, some companies in Northbrook know more about local solar incentives and can help you take advantage of additional rebates or tax exemptions. Though, they may charge more for that service. Even if they cost more upfront, they could help you save 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 $2.66 $11,182 $11,764 12.2 years
8 kW $2.61 $14,623 $15,972 11.9 years
10 kW $2.56 $17,920 $20,323 11.7 years
12 kW $2.51 $21,074 $24,818 11.5 years
14 kW $2.46 $24,084 $29,456 11.2 years
16 kW $2.41 $26,952 $34,237 11.0 years
18 kW $2.36 $29,676 $39,162 10.8 years
20 kW $2.30 $32,256 $44,230 10.5 years

Solar Incentives in Northbrook

Name Hamilton County - Home Improvement Program
Incentive Amount $50,000
Website Visit here
More Info Click here

Name Butler Rural Electric Cooperative - Energy Efficiency Improvement Loan Program
Incentive Amount $25,000
Website Visit here
More Info Click here

Name Butler Rural Electric Cooperative - Residential Rebate Program
Website Visit here
More Info Click here

Name Duke Energy (Gas & Electric) - Residential Efficiency Rebate Program
Website Visit here
More Info Click here

Name Local Option - Special Energy Improvement Districts
More Info Click here

Name Energy Conservation for Ohioans (ECO-Link) Program
Website Visit here
More Info Click here

Name Solar Renewable Energy Certificates Program (SRECs)
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 company you choose 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, including:

  • Installation Process: Get detailed information from your solar company about the installation process and what to expect, such as when the site survey will be done and what the project timeline is.
  • Reputation: Your solar installer should have a solid reputation as a company and have proven expertise in the field. Two ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has good reviews from past customers.
  • Contract: It's important to look over your solar installer's contract well to understand what services they will provide, what the warranty covers and what you can expect about your solar system's energy production.
  • Solar Panel Brands: The kind of solar panel you'd like plays a part in which company you should opt for, since different companies have different panels.

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 Northbrook, OH Solar Cost FAQs

How much does it cost to install solar panels in Northbrook?

This is a tough question to answer precisely, because the cost depends on a few different factors. Broadly speaking, it costs about $12,800 for a 5-kW system and $25,600 for a 10-kW system after the ITC is applied. It will be more expensive if you want additional solar equipment or more efficient panels, or if you have higher-than-average energy needs. On the other hand, you can spend less if you go with a smaller solar panel system or less expensive solar panels.

Is it better to lease or buy solar panels in Northbrook?

Leasing solar panels can be an attractive choice, because it commonly 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.

How will solar panels impact the value of my home?

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 Northbrook is currently $112,926, which means you could be looking at a value of about $4,630 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Northbrook is a rewarding investment.

How many solar panels do I need to power my home?

To figure out what solar panel system size you need, you should find out how much energy your home requires 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 home 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.

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