Solar Panel Cost Guide in Northbrook, OH (2024 Update)
- Northbrook Solar Installation Cost: $17,636
- 25-Year Savings: $15,016
- Payback Period: 15.6 Years
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Average Cost of Solar Panels in Northbrook
Find out what the average cost of installing solar panels is in Northbrook.
The average cost of a solar system in Northbrook is 3 per watt.The average Northbrook homeowner needs a 7.4-kilowatt system, which would cost about $17,636 with the federal tax credit, or $25,219 before the 0 tax credit is applied.
These figures are just estimates, and your own solar costs will most likely differ based on factors unique to your home and what company you want to go with.With average savings of about $15,000 on electricity bills over 20 years, many homeowners in Northbrook find going solar can be quite rewarding.
Click the button below to get connected to a highly rated solar panel company in your area for a personalized estimate.
Solar savings over time in Northbrook
| Year | Return on Investment |
|---|---|
| 1 years | $-16,471 |
| 3 years | $-14,141 |
| 5 years | $-11,811 |
| 7 years | $-9,481 |
| 9 years | $-7,151 |
| 11 years | $-4,821 |
| 13 years | $-2,491 |
| 15 years | $-161 |
| 17 years | $2,169 |
| 19 years | $4,499 |
| 21 years | $6,828 |
| 23 years | $9,158 |
| 25 years | $11,488 |
Top Solar Installers in Northbrook
Many homeowners opt for a solar installer since trying to put up solar panels on your own can be a labor-intensive endeavor. Some solar companies, especially local ones, can help you make the most of incentives in Northbrook, therefore optimizing your ROI.
You can work with a local solar installer to get a free quote on the cost of solar panels for your home. Here are some nearby:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
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 Northbrook
Factors that Affect Solar Panel Costs in Northbrook
The cost of installing a solar system in Northbrook can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The biggest one is the size of the system you need, and other factors include equipment choices, financing options and the solar company you choose.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to some different factors. One of the key factors is the system size, which is measured in kilowatts (kW). Solar power systems that have greater efficiency or power generation use better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $3,410.The brand and kind of equipment you get for your solar system can raise or lower the price quite significantly. If you prefer a brand name like Tesla or SunPower, these are often more expensive than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have a small roof or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to greater savings over time. Also, if you want extra equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be a challenge. Solar loans are available from most installers in Northbrook, which can reduce, or in some cases completely eliminate, your upfront costs to make solar more affordable.Although solar loans make adopting solar energy more accessible for Northbrook homeowners, they can also raise 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 panel installation company you pick will influence your total cost to make the switch to solar energy. Different companies will charge different amounts for the equipment and labor.Larger national companies generally have lower costs, but some local companies undercut them by offering 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 car 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 | $3.55 | $14,895 | $8,051 | 16.2 years |
| 8 kW | $3.48 | $19,478 | $11,116 | 15.9 years |
| 10 kW | $3.41 | $23,870 | $14,373 | 15.6 years |
| 12 kW | $3.34 | $28,071 | $17,820 | 15.3 years |
| 14 kW | $3.27 | $32,081 | $21,459 | 15.0 years |
| 16 kW | $3.21 | $35,900 | $25,288 | 14.7 years |
| 18 kW | $3.14 | $39,529 | $29,309 | 14.4 years |
| 20 kW | $3.07 | $42,966 | $33,520 | 14.0 years |
How to Save on Solar Panels
The solar company you go with 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 some important things you should consider, such as:
- Reputation: Solar system installers that have great reviews from their customers and that have been in business for many years most likely provide quality solar panel installation and expertise.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and how much efficiency they need. While there are many options for which model of solar panel you can get, not every company will have the exact one you may want or need, so make sure you ask for their list of options before deciding.
- Contract: It’s important to look over your solar installer’s contract closely to understand what services they will provide, what the warranty covers and what you can expect about the cost.
- Warranty: Warranties that cover defective panels and repairs over a long period of time such as 25 years are the best you can get in the business, and offering such a warranty is one sign of a good company.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
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 Northbrook, OH Solar Cost FAQs
What is the average cost of installing solar panels in Northbrook?
The average cost of solar panels in Northbrook is about $17,050 for a 5-kW system and $34,100 for a 10-kW system before the ITC, but the real cost will depend on stuff like the model of solar panels you want, what size system you need and how much energy you use.
Should I lease or buy solar panels in Northbrook?
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 incentives and your home value won’t increase. Buying solar panels is a better option if you want to get the most savings.
How will installing solar panels impact how much my home is worth?
Solar panels can increase the value of your home remarkably as long as you buy or finance your panels and don’t go for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing a solar system."
How long do solar panels last in Northbrook?
Although 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 how much energy they produce will have decreased significantly after that point. You can decide 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.