Solar Panel Cost Guide in Cary, IL (2024 Update)
- Cary Solar Installation Cost: $17,168
- 25-Year Savings: $11,736
- Payback Period: 19.0 Years
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Average Cost of Solar Panels in Cary
See how much it might cost to go solar in Cary.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Cary, the average cost of a solar system is 4 per watt.To account for the typical energy needs of the average home in Cary, most homeowners require a 6.5-kilowatt system. Using the per-watt figure above, a solar installation costs about $17,168, or $24,550 before the federal solar tax credit of 0 is applied.
Bear in mind that the figures above are only estimates based on the average Cary homeowner. The price of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor.For most homeowners, the upfront cost of solar is worth paying. On average homeowners in Cary see about $13,000 in savings on energy bills over 20 years.
For a personalized quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Cary
| Year | Return on Investment |
|---|---|
| 1 years | $-16,012 |
| 3 years | $-13,700 |
| 5 years | $-11,387 |
| 7 years | $-9,075 |
| 9 years | $-6,762 |
| 11 years | $-4,450 |
| 13 years | $-2,138 |
| 15 years | $175 |
| 17 years | $2,487 |
| 19 years | $4,799 |
| 21 years | $7,112 |
| 23 years | $9,424 |
| 25 years | $11,736 |
Top Solar Installers in Cary
Do-it-yourself solar panel installation is a way to cut costs, but it's an undertaking that can take a lot of hard work. Going with a solar company can make swapping over to solar power much easier. Because solar panels are exposed to the elements every day, warranties and repairs from your solar company can help you get the most out of your investment in solar panels by reducing potential costs down the line.
You can work with a local solar installer to get a free estimate on how much your investment in solar could cost for your home. Here are some near you:
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
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
See all of the solar companies in Cary
Factors that Affect Solar Panel Costs in Cary
For many Cary homeowners, the decision to install a solar energy system depends on cost. However, the range of solar installation costs can be quite wide in Cary, with typical prices between $20,000 to $40,000. There are numerous factors that greatly influence the price you’ll pay, which we'll go over below.
Solar Equipment
When it comes to estimating the cost of a solar panel system in Cary, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home’s energy consumption, which you can gauge by looking at past electricity bills. Your overall cost can increase by around $3,760 for each additional kilowatt you need.The type of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you get the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. However, higher efficiency could save you more over time on your power bills. Additionally, add-on products, like solar batteries, can bring your total well above the Cary average.
Solar Financing Terms
Most solar companies in Cary provide solar loans, which reduce the initial cost of installing a solar system.However, the interest on solar loans also increases your all-in costs, so it’s important to include that in your estimate as well. You can always bring down the total you pay in interest and in some cases even your APR by making a larger down payment.
Solar Panel Installation Company
The solar installation company you select will impact your total cost to adopt solar power. Different companies will charge different amounts for the equipment and labor.Additionally, some companies in Cary know more about local solar incentives and can help you take advantage of additional rebates or tax exemptions. Though, they may charge more for that service. Even if they cost more upfront, they could help you save more money in the long run.
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 | $4,375 | 19.7 years |
| 8 kW | $3.84 | $21,477 | $6,255 | 19.4 years |
| 10 kW | $3.76 | $26,320 | $8,345 | 19.0 years |
| 12 kW | $3.68 | $30,952 | $10,646 | 18.6 years |
| 14 kW | $3.61 | $35,374 | $13,157 | 18.2 years |
| 16 kW | $3.53 | $39,585 | $15,879 | 17.8 years |
| 18 kW | $3.46 | $43,586 | $18,812 | 17.5 years |
| 20 kW | $3.38 | $47,376 | $21,955 | 17.1 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you pick the right company for you, here are some tips to keep in mind:
- Reputation: Your solar installer should have a good reputation as a company and have proven expertise in the field. A couple of ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from past customers.
- Warranty: Many companies offer different kinds of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Installation Process: Make sure you’re aligned with the company regarding how the installation process will go and what you need to do before your solar system is installed, such as updating your electrical system or roof.
- 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 plays a role in which solar panel brands you have access to.
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
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
EcoWatch's Cary, IL Solar Cost FAQs
How much does it cost to install solar panels in Cary?
This is a hard question to answer exactly, because the cost depends on a variety of factors. Generally speaking, it costs about $18,800 for a 5-kW system and $37,600 for a 10-kW system after the ITC is applied. You can expect to pay more if you want other solar equipment or higher quality panels, or if you have above-average energy needs. Conversely, you can spend less if you want a smaller solar panel system or cheaper solar panels.
What other factors should I consider other than cost when buying solar panels?
The initial cost is a key factor to consider, but whether it’s the most important for you depends on why you decided to go solar. In cities 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.
How will solar panels impact my property value?
Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Cary is currently $323,609, which means you can look forward to a value of about $13,268 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Cary is a fruitful investment.
How long do solar panels last in Cary?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger level 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.