Solar Panel Cost Guide in East Eldorado, IL (2024 Update)
- East Eldorado Solar Installation Cost: $15,963
- 25-Year Savings: $11,783
- Payback Period: 17.1 Years
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Average Cost of Solar Panels in East Eldorado
See how much it might cost to go solar in East Eldorado.
Although the national average of solar panels is $2.66 per watt, solar panels in East Eldorado typically cost around 4.To account for the typical energy needs of the average home in East Eldorado, most homeowners require a 6.1-kilowatt system. Using the per-watt figure above, a solar installation costs around $15,963, or $22,827 before the federal solar tax credit of 0 is applied.
Keep in mind that the figures above are only estimates based on the average energy use of East Eldorado homeowners. The price 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.But, after you've paid the initial cost of installation, the savings for most homeowners is typically rewarding, with a net average savings of about $15,000 over 20 years on utility bills.
For a free quote from a local solar installer that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in East Eldorado
| Year | Return on Investment |
|---|---|
| 1 years | $-15,112 |
| 3 years | $-13,411 |
| 5 years | $-11,709 |
| 7 years | $-10,008 |
| 9 years | $-8,307 |
| 11 years | $-6,605 |
| 13 years | $-4,904 |
| 15 years | $-3,203 |
| 17 years | $-1,502 |
| 19 years | $200 |
| 21 years | $1,901 |
| 23 years | $3,602 |
| 25 years | $5,304 |
Top Solar Installers in East Eldorado
Trying to install solar panels on your own can be a time-consuming undertaking, which is why getting a solar installer is a good option for many homeowners. Solar companies offer key benefits that can help you get the most out of your investment, like warranties, monitoring and free repairs.
If you’d like to go solar but still aren’t certain which solar system installer to go with, here are our suggestions for providers in East Eldorado:
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 East Eldorado
Factors that Affect Solar Panel Costs in East Eldorado
The cost of installing a solar system in East Eldorado can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The biggest one is the size of the system your home needs, and other factors include the equipment you choose, financing options and the solar company you choose.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of going solar. That’s why it’s crucial to accurately ascertain the size of the solar energy system needed for your home by figuring out your energy needs.Some solar panel brands — like Maxeon from SunPower — cost more upfront but also tend to offer higher efficiency. In a city like East Eldorado, where sunlight is relatively abundant, efficiency can quickly pay off. Plus, if you have a small roof or limited space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
If paying for a solar system in cash is too expensive, solar loans are a popular choice because they lower your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years.When figuring out your overall cost, you should also calculate the interest you’ll pay if you go with a solar loan. Also, paying a higher down payment can reduce the total interest paid over time.
Solar Panel Installation Company
The solar panel installer you choose will affect your total cost to adopt solar energy. Different companies will bill different amounts for the equipment and labor.You may come across national solar installers that have lower prices due to their larger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or specials to compete with those major players.
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 | $6,699 | 17.8 years |
| 8 kW | $3.84 | $21,477 | $9,353 | 17.4 years |
| 10 kW | $3.76 | $26,320 | $12,218 | 17.1 years |
| 12 kW | $3.68 | $30,952 | $15,293 | 16.7 years |
| 14 kW | $3.61 | $35,374 | $18,579 | 16.4 years |
| 16 kW | $3.53 | $39,585 | $22,075 | 16.0 years |
| 18 kW | $3.46 | $43,586 | $25,782 | 15.7 years |
| 20 kW | $3.38 | $47,376 | $29,699 | 15.4 years |
How to Save on Solar Panels
The solar installer you opt for will impact not only your overall costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are a few important things you should keep in mind, including:
- Warranty: A high-quality company stands out from other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Solar Panel Brands: Not all solar companies carry the same brands of solar panels, so the brand and type of panel you want can play a big role in the company you hire.
- Contract: Although reading through a contract can be tedious, it’s important to do it thoroughly so you can make sure you understand what services your solar company will provide and how part repairs and replacements will be handled.
- 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 installer, such as what permits you should acquire and how long the project will take.
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 East Eldorado, IL Solar Cost FAQs
What is the average cost of installing solar panels in East Eldorado?
This is a difficult question to answer precisely, 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 be more expensive if you want other solar equipment or more efficient panels, or if you have above-average energy needs. On the other hand, you can spend less if you opt for a smaller solar panel system or less expensive solar panels.
Can you get solar panels for free in East Eldorado?
You can’t get solar panels for free in East Eldorado. 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 want to own your solar panels, you can finance them with a solar loan.
How will having solar panels impact my home value?
Installing solar panels on your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in East Eldorado is currently $173,324, so you can expect a value of about $7,106 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in East Eldorado is a rewarding investment.
How often do you have to replace solar panels?
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 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.