Solar Panel Cost Guide in Belvidere, IL (2024 Update)
- Belvidere Solar Installation Cost: $17,201
- 25-Year Savings: $11,373
- Payback Period: 18.0 Years
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Average Cost of Solar Panels in Belvidere
See how much it might cost to make the switch to solar in Belvidere.
The average cost of a solar system in Belvidere is 4 per watt.Since a 6.5-kW system is needed to cover the energy costs of a typical home in Belvidere, the average price of going solar will be about $17,201 after claiming the federal solar tax credit of 0.
The true cost of your system can go higher or lower than the average in Belvidere depending on a variety of factors, such as the kind of solar panels you choose and the solar contractor you hire.With average savings of about $14,000 on power bills over 20 years, many homeowners in Belvidere find installing solar panels can pay off big.
To get a free estimate from a highly rated solar installer in Belvidere, you can click the button below.
Solar savings over time in Belvidere
| Year | Return on Investment |
|---|---|
| 1 years | $-16,045 |
| 3 years | $-13,733 |
| 5 years | $-11,421 |
| 7 years | $-9,108 |
| 9 years | $-6,796 |
| 11 years | $-4,484 |
| 13 years | $-2,171 |
| 15 years | $141 |
| 17 years | $2,454 |
| 19 years | $4,766 |
| 21 years | $7,078 |
| 23 years | $9,391 |
| 25 years | $11,703 |
Top Solar Installers in Belvidere
Many homeowners choose to use a solar panel company since trying to install solar panels on your own can be challenging. Solar warranties and repairs are typically included in the cost of installation when you opt for a solar company as well, which can save you more money after your initial investment.
Working with a vetted solar installer can help your solar project go smoothly. Here are our recommendations:
Best National Provider
SunPower
- 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
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
See all of the solar companies in Belvidere
Factors that Affect Solar Panel Costs in Belvidere
The cost of installing a solar system in Belvidere can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The biggest one is your system size, and other factors include the equipment you choose, financing options and the solar company you choose.
Solar Equipment
When it comes to estimating the cost of a solar panel system in Belvidere, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are mainly based on your home’s energy consumption, which you can gauge by looking at past electricity bills. Your total cost can increase by about $3,760 for each additional kilowatt you need.There are many different solar panel brands and the one you pick also affects the cost. In general, the brands that offer higher efficiency tend to also cost more. Additionally, the type of equipment you want to install can affect your total cost. If you only need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Many homeowners find the average cost of solar in Belvidere to be too steep, even if the investment pays off over time. Thankfully, almost every solar installer in the area offers financing options. Solar loans remarkably decrease upfront costs for most homeowners, but they also result in a higher cost over time due to interest.However, the interest on solar loans also increases your total costs, so it’s crucial to consider that as well. You can always reduce the total you pay in interest and in some cases even your APR by making a larger down payment.
Solar Panel Installation Company
The final significant cost factor you should keep in mind is the installer you choose. Given the booming popularity of clean energy solutions in Belvidere, you’ll have a great number of options to choose from, but each comes at various price points for labor and equipment.You may notice national solar installers that have lower prices because of their larger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or specials 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 | $3.91 | $16,424 | $5,483 | 18.7 years |
| 8 kW | $3.84 | $21,477 | $7,732 | 18.4 years |
| 10 kW | $3.76 | $26,320 | $10,191 | 18.0 years |
| 12 kW | $3.68 | $30,952 | $12,861 | 17.7 years |
| 14 kW | $3.61 | $35,374 | $15,741 | 17.3 years |
| 16 kW | $3.53 | $39,585 | $18,833 | 16.9 years |
| 18 kW | $3.46 | $43,586 | $22,134 | 16.6 years |
| 20 kW | $3.38 | $47,376 | $25,646 | 16.2 years |
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because picking a company can be difficult, we have some tips to help you, such as:
- Reputation: Solar panel companies that have great reviews from their customers and that have been operating for many years in most cases provide high-quality solar panel installation and expertise.
- Installation Process: One of the most important things to understand when adopting solar energy is the installation process itself. Be sure to clarify any details you need to know with your solar company, such as what permits you should secure and how long the project will take.
- Solar Panel Brands: Different companies will have different brands and models of panels. If you want a specific brand, make sure the solar installer you’re considering has it.
- Warranty: Many companies offer different types of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
Best National Provider
SunPower
- 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
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
EcoWatch's Belvidere, IL Solar Cost FAQs
What is the average cost of installing solar panels in Belvidere?
The average cost of solar panels in Belvidere is about $18,800 for a 5-kW system and $37,600 for a 10-kW system before the ITC, but the real cost will depend on stuff like the type of solar panels you want, what size system you need and how much energy you consume.
Is cost the most important thing to think about when buying solar panels?
Cost is certainly one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
How will having solar panels impact the value of my home?
Solar panels can increase your home value considerably 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 solar panels."
What solar power system size is right for my home?
To figure out what solar panel system size you need, you need to know how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can usually 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.