Solar Panel Cost Guide in Candlewick Lake, IL (2024 Update)

  • Candlewick Lake Solar Installation Cost: $17,201
  • 25-Year Savings: $13,457
  • Payback Period: 16.6 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated February 03, 2024

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We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Candlewick Lake

We go over average solar pricing in Candlewick Lake.

The national average cost of solar panels is $2.66 per watt, but in Candlewick Lake it’s 4 per watt.The average solar panel system size in Candlewick Lake is around 6.5 kilowatts, meaning a cost of about $17,201 for a solar installation, or $24,597 before the 0 federal solar tax credit is applied.

The prices above are just estimates to give you an idea of the cost of solar panels. The true cost of installing solar panels can vary depending on a few factors, such as how many panels you need, your energy consumption and what installation company you go with.For most homeowners, the upfront investment in solar power is worth paying. On average Candlewick Lake homeowners see about $15,000 in savings on electricity bills over 20 years.

You can click the button below to get connected with a pre-vetted solar installer in Candlewick Lake that can help you get a more accurate cost estimate for your home.

Solar savings over time in Candlewick Lake

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 Candlewick Lake

Although it's possible to install solar panels yourself, it involves extra energy and know-how. Because of that, almost all homeowners choose a solar panel installer. Local solar companies can also help you maximize your return on investment by assisting with any local incentives and by providing warranties and repairs.

There are a number of licensed solar professionals that can take care of your solar installation project. Here are our suggestions:

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

Best for Leasing

Sunrun

★★★★★
4.0

  • 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 Candlewick Lake

Factors that Affect Solar Panel Costs in Candlewick Lake

While the average cost of a solar system in Candlewick Lake is $17,201, your final cost may differ. There are quite a few factors that can have a significant impact on the cost of a residential solar panel installation. Below are some of the more crucial things to consider.

Solar Equipment

System size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of going solar. Because of that, it’s crucial to accurately gauge the size of the solar energy system needed for your home by figuring out your typical energy use.The brand and type of equipment you want for your solar system can increase or decrease the price quite significantly. If you prefer a 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 more savings over time. Also, if you want additional equipment like an electric vehicle charger or solar batteries, this will also increase the cost.

Solar Financing Terms

If paying for solar panels in cash is too expensive, solar loans are a popular option because they decrease your upfront costs and let you pay for your system over five to seven years on average.It’s a good idea to factor the interest you’ll pay in your final cost estimate. If you can afford to pay a larger down payment, you can reduce your total costs and the amount of time it’ll take to pay back the loan.

Solar Panel Installation Company

Lastly, the company you opt for to install your solar panel system can impact the cost. Candlewick Lake’s solar companies all have different labor costs and add varying upcharges to equipment. Larger national companies generally have lower costs, but some local companies keep up with them by promoting sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or extra services like electric vehicle 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 $3.91 $16,424 $7,396 17.2 years
8 kW $3.84 $21,477 $10,283 16.9 years
10 kW $3.76 $26,320 $13,380 16.6 years
12 kW $3.68 $30,952 $16,687 16.2 years
14 kW $3.61 $35,374 $20,206 15.9 years
16 kW $3.53 $39,585 $23,934 15.6 years
18 kW $3.46 $43,586 $27,874 15.2 years
20 kW $3.38 $47,376 $32,023 14.9 years

How to Save on Solar Panels

There are a lot of solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you decide on the right company for you, here are some tips to keep in mind:

  • Solar Panel Brands: Each solar panel brand and kind offers varying levels of quality, longevity and energy efficiency. They will come at different prices as well. The company you choose impacts which solar panel brands you have access to.
  • Contract: Look through the contract terms carefully to make sure you understand how much it will cost, project completion timeline rebates and warranties.
  • Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for sustainable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a solid reputation and is qualified to do the job well. Another way you can verify your installer’s reputation is by reading reviews.
  • Warranty: Warranties that provide coverage for defective panels and repairs over around 25 years are the best you can get in the business, and offering such a warranty is one indication of a quality company.

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

Best for Leasing

Sunrun

★★★★★
4.0

  • Expansive service area
  • Many financing options
  • Some reported issues with customer service
  • Some reported issues with door-to-door sales

EcoWatch's Candlewick Lake, IL Solar Cost FAQs

How much does it cost to install solar panels in Candlewick Lake?

The average cost of solar panels in Candlewick Lake 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 things such as the type of solar panels you want, what size system you need and how much energy you use.

Are solar panels free in Candlewick Lake?

You can’t get solar panels for free in Candlewick Lake. However, you may still be able to install them on a lower budget. You can lease solar panels for a low upfront cost or, if you’d rather own your solar panels, you can finance them with a solar loan.

How much can I save on electricity bills after switching to solar?

Solar panels can potentially eliminate your electricity bills depending on your location and how much sunlight your home gets. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $793.99 per year.

How long do solar panels last in Candlewick Lake?

Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is how much energy they produce will have decreased significantly after that point. You can opt to replace them once you've had 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.

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