Solar Panel Cost Guide in Genoa, IL (2024 Update)

  • Genoa Solar Installation Cost: $17,092
  • 25-Year Savings: $10,202
  • Payback Period: 18.9 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated February 03, 2024

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We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Genoa

Let’s take a look at the average cost of solar panels in Genoa.

The average cost of a solar system in Genoa is 4 per watt.Using this figure, a typical 6.5-kW system would cost about $17,092 before the 0 federal solar tax credit is applied.

The true cost of your system can be above or below the average in Genoa depending on a variety of factors, such as the model of solar panels you choose and the solar installer you hire.Many homeowners find adopting solar power is a fruitful investment. The average homeowner in Genoa can save around $13,000 on their power bills over 20 years.

Click the button below to get connected to a vetted solar panel company in Genoa for a personalized quote.

Solar savings over time in Genoa

Year Return on Investment
1 years $-15,936
3 years $-13,624
5 years $-11,311
7 years $-8,999
9 years $-6,687
11 years $-4,374
13 years $-2,062
15 years $251
17 years $2,563
19 years $4,875
21 years $7,188
23 years $9,500
25 years $11,812

Top Solar Installers in Genoa

Many homeowners choose to hire a solar installer since trying to install solar panels by yourself can be time-consuming. Because solar panels are exposed to temperature swings and extreme weather, 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 get a free estimate from a local solar installer on how much your investment in solar could cost for your home. Here are some nearby:

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries

Best for Leasing

Sunrun

★★★★★
4.0

  • 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 Genoa

Factors that Affect Solar Panel Costs in Genoa

Although the average cost of a solar system in Genoa is $17,092, your actual cost may be higher or lower than that. There are several factors that can have a major impact on the cost of a residential solar panel installation. Below are some of the more important things to take into consideration.

Solar Equipment

The size of the solar panel system you need for your household, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, your total will most likely increase by nearly $3,760. The type of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you opt for 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, add-on products, such as solar batteries, can bump up your total well above the Genoa average.

Solar Financing Terms

Most solar companies in Genoa provide solar loans, which reduce the initial cost of installing solar.Although solar loans make switching to solar energy more accessible for Genoa 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 avoid paying as much in interest.

Solar Panel Installation Company

The solar panel installer you choose will impact your total cost to go solar. Different companies will charge different amounts for the equipment and labor.Companies that only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come at a higher cost. It’s best to do some research and choose a company that offers the products, warranties and services you’re looking for and also fits 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 $4,468 19.7 years
8 kW $3.84 $21,477 $6,378 19.3 years
10 kW $3.76 $26,320 $8,499 18.9 years
12 kW $3.68 $30,952 $10,831 18.5 years
14 kW $3.61 $35,374 $13,373 18.1 years
16 kW $3.53 $39,585 $16,125 17.8 years
18 kW $3.46 $43,586 $19,089 17.4 years
20 kW $3.38 $47,376 $22,262 17.0 years

How to Save on Solar Panels

There are numerous companies available in Genoa, 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:

  • Solar Panel Brands: Each solar panel brand and model offers varying levels of quality, durability and energy efficiency. They will come at different prices as well. The company you choose affects which solar panel brands you have access to.
  • Reputation: Companies that have been operating for many years 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 quality aftercare and customer service, such as part repairs and replacements.
  • Contract: It’s important to read your solar installer’s contract thoroughly to understand what services they will provide, what the warranty covers and what expectations you should have about your solar system’s energy production.
  • Warranty: If you’re worried about the endurance of your solar energy system, ensuring your installer offers a 25-year, all-inclusive warranty can help put you at ease.

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries

Best for Leasing

Sunrun

★★★★★
4.0

  • Expansive service area
  • Many financing options
  • Some reported issues with customer service
  • Some reported issues with door-to-door sales

EcoWatch's Genoa, IL Solar Cost FAQs

What is the average cost of installing solar panels in Genoa?

This is a tough question to answer precisely, because the cost depends on a variety of factors. Broadly 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 usage. On the flip side, you can spend less if you opt for a smaller solar panel system or less expensive solar panels.

Is it better to lease or buy solar panels in Genoa?

Leasing solar panels can be an option if you can’t afford to pay upfront or secure a solar loan, but since you don’t own the system, you can’t take advantage of many solar incentives. Also your home value won’t increase, so you’ll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most bang for your buck from going solar.

How will installing solar panels impact how much my home is worth?

Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Genoa is currently $260,116, which means you can look forward to a value of about $10,665 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Genoa is a rewarding investment.

How long do solar panels last in Genoa?

Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can opt to replace them after having them for that long or you can continue to use them at a lower efficiency.

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.

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