Solar Panel Cost Guide in Evanston, WY (2023 Update)
- Evanston Solar Installation Cost: $25,456
- 25-Year Savings: $42,964
- Payback Period: 9.3 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Evanston
Let's have a look at the average cost of solar in Evanston.
The average cost of a solar panel system in Evanston is 2.57 per watt. Because a 14.2-kW system is needed to cover the energy needs of a typical home in Evanston, the average price of going solar will be about $25,456 after claiming the federal solar tax credit of 30%.
These figures are only averages, and how much solar costs for you will most likely look different based on your specific situation and what company you want to go with. For many homeowners, the upfront cost of solar panels is worth paying. On average Evanston homeowners see about $18,000 in savings on energy bills over 20 years.
To calculate your potential ROI and connect with a local solar installer, click the button below.
Solar savings over time in Evanston
| Year | Return on Investment |
|---|---|
| 1 years | $-22,719 |
| 3 years | $-17,246 |
| 5 years | $-11,772 |
| 7 years | $-6,298 |
| 9 years | $-825 |
| 11 years | $4,649 |
| 13 years | $10,122 |
| 15 years | $15,596 |
| 17 years | $21,069 |
| 19 years | $26,543 |
| 21 years | $32,017 |
| 23 years | $37,490 |
| 25 years | $42,964 |
Top Solar Installers in Evanston
DIY solar panel installation is a choice some homeowners opt for, but it's an undertaking that can use up a lot of your time and energy. Going with a solar panel installer can make swapping over to solar power much easier. Companies can also offer access to various kinds of the best solar panels and help you choose which one will be right for your family.
Working with a licensed solar installer can help your solar project go smoothly. Here are our recommendations:
Solar Veteran
Creative Energies
- Certified B Corp
- Outstanding customer service
- Many years of experience
- Multitude of products and services
- No leases or PPAs
- Slightly expensive
See all of the solar companies in Evanston
Factors that Affect Solar Panel Costs in Evanston
Cost is usually one of the most important factors for homeowners who are considering investing in solar. There are a few major factors that will push your cost above or below the average in Evanston: solar equipment and system size, financing options and the solar installation company you choose. We'll discuss each of these briefly below.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of going solar. For that reason, it's crucial to accurately assess the size of the solar energy system needed for your home by figuring out your average energy use. The brand and type of equipment you choose for your solar system can raise or lower the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these often have a higher price tag than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have limited roof space or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to greater savings over time. Plus, if you want add-ons like an electric vehicle charger or solar batteries, this 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 decrease your upfront costs and allow you to pay for your system over five to seven years on average. It's wise to include 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 off the loan.
Solar Panel Installation Company
The last key cost factor you should keep in mind is the installer you choose. Given the massive popularity of sustainable energy solutions in Evanston, you'll have plenty of options to choose from, but each comes at varying price points for labor and equipment. The size of the company sometimes plays the most significant role in your total costs. Larger national companies, like SunPro and Sunrun, often have lower pricing due to greater resources and bulk pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or promotion can bring their pricing down to compete with bigger names.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $2.67 | $11,226 | $17,786 | 9.7 years |
| 8 kW | $2.62 | $14,680 | $24,002 | 9.5 years |
| 10 kW | $2.57 | $17,990 | $30,362 | 9.3 years |
| 12 kW | $2.52 | $21,156 | $36,867 | 9.1 years |
| 14 kW | $2.47 | $24,179 | $43,515 | 8.9 years |
| 16 kW | $2.42 | $27,057 | $50,307 | 8.7 years |
| 18 kW | $2.36 | $29,791 | $57,243 | 8.6 years |
| 20 kW | $2.31 | $32,382 | $64,323 | 8.4 years |
How to Save on Solar Panels
There are numerous companies to choose from in Evanston, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be challenging, so here are some tips to help you decide:
- Contract: Though reading through a contract can take a lot of time, it's important to do it thoroughly so you can be sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
- Installation Process: When making the switch to solar energy, it's important to maintain an open line of communication with your solar company. Make sure you understand how the installation process works and the project timeline.
- Solar Panel Brands: Not all solar companies carry the same brands of solar panels, so the brand and type of panel you want can play a big role in the company you go with.
- Reputation: Make sure your solar company has a good reputation by confirming it has certifications and licenses, checking its number of years in business and reading reviews by previous customers and solar experts like EcoWatch.
Solar Veteran
Creative Energies
- Certified B Corp
- Outstanding customer service
- Many years of experience
- Multitude of products and services
- No leases or PPAs
- Slightly expensive
EcoWatch's Evanston, WY Solar Cost FAQs
What is the average cost of installing solar panels in Evanston?
This is a hard question to answer exactly, because the cost depends on a few different factors. Generally speaking, it costs about $12,850 for a 5-kW system and $25,700 for a 10-kW system after the ITC is applied. You can expect to pay more if you want extra solar equipment or more efficient panels, or if you have above-average energy consumption. On the flip side, you can spend less if you go with a smaller solar panel system or less efficient solar panels.
Should I lease or buy solar panels in Evanston?
Leasing solar panels can be an appealing choice, as it usually comes with low or $0 upfront payments. The drawback 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 option if you want to get the most savings.
Is making the switch to solar worth it?
Solar panels can be a good investment for most homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your electricity bills are already pretty low, solar panels might not be for you.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy needs and how much sunlight your roof gets. You can look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to buy between 20 and 35 panels to account for their typical energy usage.
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.