Solar Panel Cost Guide in Burnham, IL (2024 Update)
- Burnham Solar Installation Cost: $16,818
- 25-Year Savings: $10,400
- Payback Period: 18.6 Years
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Average Cost of Solar Panels in Burnham
We go over average solar pricing in Burnham.
While the national average of solar panels is $2.66 per watt, solar panels in Burnham typically cost about 4.Using this figure, a typical 6.4-kW system would cost about $16,818 before the 0 federal solar tax credit is applied.
Bear in mind that the figures above are only estimates based on the average Burnham homeowner. The cost of a solar system for your home may be different depending on factors unique to your situation, like your household energy use and solar contractor.For most homeowners, the upfront investment in solar panels is worth paying. On average Burnham homeowners see about $13,000 in savings on energy bills over 20 years.
Click the button below to get connected to a highly rated solar panel company in your area for a customized estimate.
Solar savings over time in Burnham
| Year | Return on Investment |
|---|---|
| 1 years | $-15,662 |
| 3 years | $-13,350 |
| 5 years | $-11,038 |
| 7 years | $-8,725 |
| 9 years | $-6,413 |
| 11 years | $-4,100 |
| 13 years | $-1,788 |
| 15 years | $524 |
| 17 years | $2,837 |
| 19 years | $5,149 |
| 21 years | $7,461 |
| 23 years | $9,774 |
| 25 years | $12,086 |
Top Solar Installers in Burnham
Although it's possible to install solar panels by yourself, it involves extra energy and expertise. For that reason, almost all homeowners choose to hire a solar panel installer. Local solar installers can also help you maximize your return on investment by assisting with any local incentives you can take advantage of and by providing warranties and repairs.
You can get a free quote from a local solar installer on the cost of solar panels for your home. Here are some in Burnham:
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 Burnham
Factors that Affect Solar Panel Costs in Burnham
Cost is often one of the most important factors for homeowners who are considering investing in solar. There are a few key factors that determine your overall cost in Burnham: solar equipment and system size, financing options and the solar installation company you choose. We’ll go over each of these briefly below.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of installing solar panels. That’s why it’s a priority to accurately gauge the size of the solar energy system needed for your home by figuring out your energy needs.There are several different solar panel brands and the one you pick also changes the cost. In general, the brands that have better efficiency tend to also cost more. In addition, the type of equipment you’re looking to get can affect your total cost. If you just need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
If paying for solar panels in cash is difficult, solar loans are an affordable route because they cut back your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years.When considering your overall cost, you should also calculate the interest you’ll pay if you go with a solar loan. Also, paying more upfront can reduce the total interest paid over time.
Solar Panel Installation Company
The solar panel installer you pick will play a role in your total cost to make the switch to solar . Different companies will bill different amounts for the equipment and labor.The size of the company can sometimes play the most significant role in your costs. Larger national companies, like SunPro and Sunrun, often have lower prices because of access to more 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 discount 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 | $3.91 | $16,424 | $4,808 | 19.3 years |
| 8 kW | $3.84 | $21,477 | $6,832 | 19.0 years |
| 10 kW | $3.76 | $26,320 | $9,066 | 18.6 years |
| 12 kW | $3.68 | $30,952 | $11,511 | 18.2 years |
| 14 kW | $3.61 | $35,374 | $14,166 | 17.9 years |
| 16 kW | $3.53 | $39,585 | $17,032 | 17.5 years |
| 18 kW | $3.46 | $43,586 | $20,109 | 17.1 years |
| 20 kW | $3.38 | $47,376 | $23,396 | 16.7 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Because choosing a company can be a challenge, we have some tips to help you, such as:
- Warranty: An all-inclusive, long-term warranty can help keep your solar system running smoothly and save you money on part replacement and repairs.
- Solar Panel Brands: Each solar panel brand and type offers varying levels of quality, longevity and energy efficiency. They will come at different costs as well. The company you choose plays a role in which solar panel brands you have access to.
- Contract: When reading through your solar installer’s contract, ask questions about any terms you’re not sure of and be sure you understand what happens in scenarios like a system part breaking or the company going out of business.
- Reputation: Companies that have been in business for many years likely have a good reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide adequate aftercare and customer service, such as part repairs and replacements.
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 Burnham, IL Solar Cost FAQs
What is the average cost of installing solar panels in Burnham?
This is a tough question to answer precisely, because the cost depends on a variety of factors. Broadly speaking, it costs about $18,800 for a 5-kW system and $37,600 for a 10-kW system after the ITC is applied. It will be more expensive if you want other solar equipment or higher quality panels, or if you have above-average energy usage. On the other hand, you can spend less if you want a smaller solar panel system or less efficient solar panels.
Is cost the most important thing to think about when buying solar panels?
The initial cost is a crucial factor to consider, but whether it’s the most important for you depends on your reasons for going solar. In areas where rooftop space is limited, efficiency can trump the cost. Other factors that are important to consider are the quality and durability of your solar panels.
Can solar panels eliminate my power bills?
Solar panels can potentially eliminate your electricity bills depending on where you’re located and the efficiency of your system. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $707.72 per year.
How long do solar panels last in Burnham?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher amount of energy production.
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.