Solar Panel Cost Guide in Foster, IL (2024 Update)
- Foster Solar Installation Cost: $16,101
- 25-Year Savings: $14,680
- Payback Period: 15.3 Years
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Average Cost of Solar Panels in Foster
We go over average solar pricing in Foster.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Foster, the typical cost of solar panels is 4 per watt.The average Foster homeowner needs a 6.1-kilowatt system, which would cost about $16,101 with the federal tax credit, or $23,024 before the 0 tax credit is applied.
Remember that the numbers above are only averages. The price you’ll end up paying for solar may look quite different based on your household energy consumption, the type of solar system you choose, your solar contractor and more.With typical savings of about $16,000 on energy bills over 20 years, many homeowners in Foster find investing in solar has a decent ROI.
For a free quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Foster
| Year | Return on Investment |
|---|---|
| 1 years | $-15,250 |
| 3 years | $-13,549 |
| 5 years | $-11,848 |
| 7 years | $-10,147 |
| 9 years | $-8,445 |
| 11 years | $-6,744 |
| 13 years | $-5,043 |
| 15 years | $-3,341 |
| 17 years | $-1,640 |
| 19 years | $61 |
| 21 years | $1,763 |
| 23 years | $3,464 |
| 25 years | $5,165 |
Top Solar Installers in Foster
Installing 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. Plus, if you’re unsure what brand of solar panels and equipment you want, a solar installer can help you figure that out after a site survey and consultation.
If you're on the hunt for a solar company in Foster, the EcoWatch team has compiled a list of our top suggestions here:
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 Foster
Factors that Affect Solar Panel Costs in Foster
For many Foster homeowners, the decision to adopt solar energy depends on cost. However, the range of solar installation costs can be quite wide in Foster, with typical prices between $20,000 to $40,000. There are several factors that considerably influence the price you’ll pay, which we'll go over below.
Solar Equipment
When it comes to estimating the price of a solar system in Foster, one of the most important 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 usage, which you can figure out by looking at past electricity bills. Your overall cost can increase by around $3,760 for each additional kilowatt you need.The solar equipment you choose can increase or decrease your cost 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, more efficient panels could save you more in the long run on your power bills. In addition, extra products, such as solar batteries, can bump up your total well above the Foster average.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be a challenge. Solar loans are provided by most installers in Foster, which can lower, or in some cases completely eliminate, your upfront costs to make solar more accessible.When figuring out your overall cost, you should also calculate the interest you’ll pay if you choose to go with a solar loan. Also, paying a higher down payment can lower the total interest paid over time.
Solar Panel Installation Company
The final key cost factor you should take into consideration is the installer you choose. Given the booming popularity of sustainable energy solutions in Foster, you’ll have lots of options to choose from, but each comes at various price points for labor and equipment.Some companies only sell high-quality, high-efficiency and high-price 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 find a company that has the products, warranties and services you want and also is within 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 | $9,441 | 15.9 years |
| 8 kW | $3.84 | $21,477 | $13,009 | 15.6 years |
| 10 kW | $3.76 | $26,320 | $16,787 | 15.3 years |
| 12 kW | $3.68 | $30,952 | $20,777 | 15.0 years |
| 14 kW | $3.61 | $35,374 | $24,976 | 14.7 years |
| 16 kW | $3.53 | $39,585 | $29,387 | 14.3 years |
| 18 kW | $3.46 | $43,586 | $34,007 | 14.0 years |
| 20 kW | $3.38 | $47,376 | $38,839 | 13.7 years |
How to Save on Solar Panels
There are a lot of companies available in Foster, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be challenging, so here are some tips to help you decide:
- Reputation: Make sure your solar company has a good reputation by confirming it has certifications and licenses, checking how long it's been in business and reading reviews by previous customers and solar experts like the EcoWatch team.
- 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 completion timeline.
- Warranty: A quality company stands out from other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Contract: It’s important to read through your solar installer’s contract thoroughly to understand what services they will provide, what the warranty covers and what expectations you should have about the cost.
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 Foster, IL Solar Cost FAQs
How much does it cost to install solar panels in Foster?
The average cost of solar panels in Foster is about $18,800 for a 5-kW system and $37,600 for a 10-kW system before the ITC, but the actual cost will depend on stuff such as the kind of solar panels you want, what size system you need and how much energy you consume.
What other factors should I consider aside from cost when buying solar panels?
Cost is a crucial factor to consider, but whether it’s the most important for you depends on your goals for going solar. In areas where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to consider are the quality and durability of your solar panels.
Does Foster have a net metering program?
The majority of states have net metering programs of some kind. Through these, you can receive compensation for the extra power your system generates 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.
How often do you have to replace solar panels?
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 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.