Solar Panel Cost Guide in Denning, IL (2024 Update)
- Denning Solar Installation Cost: $15,990
- 25-Year Savings: $11,241
- Payback Period: 17.5 Years
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Average Cost of Solar Panels in Denning
We go over average solar pricing in Denning.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Denning, the average cost of a solar system is 4 per watt.The average solar panel system size in Denning is around 6.1 kilowatts, meaning a cost of about $15,990 for a solar installation, or $22,866 before the 0 federal solar tax credit is applied.
How much you pay can go above or below the average in Denning depending on a variety of factors, such as the model of solar panels you choose and the solar contractor you hire.But, after you've paid the initial cost of installation, the savings for most homeowners is quite fruitful, with a net average savings of about $14,000 over 20 years on power bills.
To see your potential savings and connect with a local solar company, click the button below.
Solar savings over time in Denning
| Year | Return on Investment |
|---|---|
| 1 years | $-15,139 |
| 3 years | $-13,438 |
| 5 years | $-11,736 |
| 7 years | $-10,035 |
| 9 years | $-8,334 |
| 11 years | $-6,633 |
| 13 years | $-4,931 |
| 15 years | $-3,230 |
| 17 years | $-1,529 |
| 19 years | $173 |
| 21 years | $1,874 |
| 23 years | $3,575 |
| 25 years | $5,277 |
Top Solar Installers in Denning
Many homeowners choose to use a solar installer since trying to put up solar panels by yourself can be challenging. In addition, if you’d like to maximize your investment in solar energy, going with a solar installer can help with that as well. Different providers can offer warranties, expertise on installation and sometimes even information on local incentives.
Working with a licensed solar company can help you make the most of your investment in solar. 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 Denning
Factors that Affect Solar Panel Costs in Denning
There are several factors that can determine your total installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar panels.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more power your household consumes, the larger your system will likely need to be. You can expect to spend around $3,760 per kilowatt in Denning.The brand and type of equipment you get for your solar system can increase or decrease the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these often come at a higher price than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have a small roof 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 raise the cost.
Solar Financing Terms
If paying for a solar system in cash is difficult, solar loans are a solid choice because they cut back your upfront costs and let you pay for your system over a term of, on average, between five and seven years.When estimating your overall cost, you should also calculate the interest you’ll pay if you decide on a solar loan. Also, paying more on your down payment can lower the total interest paid over time.
Solar Panel Installation Company
The last significant cost factor you should keep in mind is the installer you choose. Given the booming popularity of clean energy solutions in Denning, you’ll have plenty of options to choose from, but each comes at varying price points for labor and equipment.Companies that only sell high-efficiency and high-priced products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally cost more. It’s best to do some research and decide on the company that has the products, warranties and services you want and also fit into your budget.
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 | $6,144 | 18.2 years |
| 8 kW | $3.84 | $21,477 | $8,613 | 17.8 years |
| 10 kW | $3.76 | $26,320 | $11,293 | 17.5 years |
| 12 kW | $3.68 | $30,952 | $14,183 | 17.1 years |
| 14 kW | $3.61 | $35,374 | $17,284 | 16.8 years |
| 16 kW | $3.53 | $39,585 | $20,595 | 16.4 years |
| 18 kW | $3.46 | $43,586 | $24,117 | 16.1 years |
| 20 kW | $3.38 | $47,376 | $27,849 | 15.7 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Since choosing a company can be a tough decision, we have some tips to help you, such as:
- Solar Panel Brands: Each solar panel brand and type has varying levels of quality, durability and energy efficiency. They will come at different prices as well. The company you choose has an impact on which solar panel brands you have access to.
- Installation Process: One of the most important things to understand when adopting solar power 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.
- Warranty: Companies typically offer different types of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Contract: When looking through your solar company’s contract, ask for clarification about any terms you’re not sure of and make sure you understand what happens in scenarios such as a system component breaking or the company going out of business.
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 Denning, IL Solar Cost FAQs
How much does it cost to install solar panels in Denning?
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 extra solar equipment or higher quality panels, or if you have higher-than-average energy needs. On the flip side, you can spend less if you go with a smaller solar panel system or cheaper solar panels.
Is it better to lease or buy solar panels in Denning?
Leasing solar panels can be an appealing choice, as it typically comes with low or $0 upfront payments. The drawback is that you won’t be able to save as much. If you lease, you don’t own the system, so you can’t claim any incentives and your home value won’t increase. Buying solar panels is a better option if you want to get the most savings.
Can you sell solar power back to the grid in Denning?
Most states have net metering programs of some kind. Through these, you can either receive compensation for the extra power your system produces or or receive credits to put toward future energy bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy usage and how much sunlight your roof gets. You can look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to buy between 20 and 35 panels to account for their typical energy usage.
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.