Solar Panel Cost Guide in Deer Park, IL (2024 Update)
- Deer Park Solar Installation Cost: $16,730
- 25-Year Savings: $10,465
- Payback Period: 18.5 Years
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Average Cost of Solar Panels in Deer Park
Find out what the average cost of solar panels are in Deer Park.
The average cost of solar panels in Deer Park is 4 per watt.Since a 6.4-kW system is needed to cover the energy needs of a typical home in Deer Park, the average price of going solar will be about $16,730 after claiming the federal solar tax credit of 0.
The true price you pay can be above or below the average in Deer Park based on a variety of factors, such as the brand of solar panels you choose and the solar company you hire.Many homeowners find adopting solar power is a rewarding investment. The average homeowner in Deer Park can save about $14,000 on their electricity bills over 20 years.
To get a free estimate from a top solar installer in Deer Park, you can click the button below.
Solar savings over time in Deer Park
| Year | Return on Investment |
|---|---|
| 1 years | $-15,574 |
| 3 years | $-13,262 |
| 5 years | $-10,949 |
| 7 years | $-8,637 |
| 9 years | $-6,325 |
| 11 years | $-4,012 |
| 13 years | $-1,700 |
| 15 years | $613 |
| 17 years | $2,925 |
| 19 years | $5,237 |
| 21 years | $7,550 |
| 23 years | $9,862 |
| 25 years | $12,174 |
Top Solar Installers in Deer Park
Installing solar panels on your own can be a dangerous undertaking, which is why using a solar installation company is a good option for many homeowners. Plus, if you’re unsure what brand of solar panels and equipment you want, a solar company can help you figure that out after a site survey and consultation.
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
- 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 Deer Park
Factors that Affect Solar Panel Costs in Deer Park
While the average cost of a solar system in Deer Park is $16,730, your actual cost may differ. There are several 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 take into consideration.
Solar Equipment
When it comes to estimating the cost of a solar energy system in Deer Park, one of the most crucial 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 figure out by looking at past energy bills. Your total cost can increase by about $3,760 for each additional kilowatt you need.The brand and kind of equipment you get for your solar system can raise or lower the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these are often more expensive 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 extra 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 an affordable choice because they lower your upfront costs and let you pay for your system over a term of, on average, between five and seven years.Though solar loans make going solar more accessible for Deer Park homeowners, they can also raise the total you pay for your system, depending on your interest rate. If you put down a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
The solar company you hire to handle your switch to sustainable energy can have an effect on your total costs. There are about 3 solar panel companies in Deer Park, and each can charge varying amounts for labor and equipment.Additionally, some companies in Deer Park have more knowledge about local solar incentives and can help you take advantage of additional rebates or tax exemptions. However, 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 | $4,920 | 19.2 years |
| 8 kW | $3.84 | $21,477 | $6,981 | 18.9 years |
| 10 kW | $3.76 | $26,320 | $9,253 | 18.5 years |
| 12 kW | $3.68 | $30,952 | $11,735 | 18.1 years |
| 14 kW | $3.61 | $35,374 | $14,428 | 17.8 years |
| 16 kW | $3.53 | $39,585 | $17,331 | 17.4 years |
| 18 kW | $3.46 | $43,586 | $20,445 | 17.0 years |
| 20 kW | $3.38 | $47,376 | $23,769 | 16.6 years |
How to Save on Solar Panels
The solar company you choose will affect not only your total costs, but also the types of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are several important things you should keep in mind, such as:
- Reputation: Long-standing companies likely have a solid 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.
- Contract: Read the contract terms thoroughly to make sure you understand the total cost, completion timeline incentives and warranties.
- Warranty: If you care about the longevity of your solar system, verifying that your company offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Installation Process: Homeowners should make sure they know how exactly the installation process will be carried out, as well as important factors like the project timeline.
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 Deer Park, IL Solar Cost FAQs
What is the average cost of installing solar panels in Deer Park?
This is a tough question to answer exactly, because the cost depends on many 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. It will cost more if you want additional solar equipment or more efficient panels, or if you have higher-than-average energy consumption. On the other hand, you can spend less if you go with a smaller solar panel system or cheaper solar panels.
What other factors should I consider other than cost when buying solar panels?
Cost is a crucial 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 be mindful of are the quality and durability of your solar panels.
How much can I save on power bills after installing solar panels?
It is possible to eliminate your electricity bills with solar panels, but for most homeowners throughout Deer Park, that will require at least a 10-kW system. Not all homes can accommodate that size system, so you’ll want to check with a local solar installer to see how many panels can fit on your roof.
How long do solar panels last in Deer Park?
On average, the lifespan of solar panels is 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 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.