Solar Panel Cost Guide in Lake Zurich, IL (2024 Update)

  • Lake Zurich Solar Installation Cost: $16,643
  • 25-Year Savings: $12,262
  • Payback Period: 18.4 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 Lake Zurich

Let’s have a look at the average cost of solar panels in Lake Zurich.

In Lake Zurich, solar panels cost about 4 per watt on average.The average Lake Zurich homeowner needs a 6.3-kilowatt system, which would cost about $16,643 with the federal tax credit, or $23,799 before the 0 tax credit is applied.

The true cost of your system can be higher or lower than the average in Lake Zurich depending on a few factors, such as the kind of solar panels you choose and the solar installer you hire.For many homeowners, the upfront investment in solar is worth paying. On average Lake Zurich homeowners see about $14,000 in savings on energy bills over 20 years.

Click the button below to get connected to a vetted solar company in Lake Zurich for a custom estimate.

Solar savings over time in Lake Zurich

Year Return on Investment
1 years $-15,487
3 years $-13,174
5 years $-10,862
7 years $-8,550
9 years $-6,237
11 years $-3,925
13 years $-1,612
15 years $700
17 years $3,012
19 years $5,325
21 years $7,637
23 years $9,949
25 years $12,262

Top Solar Installers in Lake Zurich

When switching to solar energy, many homeowners opt to use a solar company since putting up solar panels yourself can be a challenging project. In addition, if you’d like to maximize your investment in solar power, opting for a solar company can help with that too. Different providers can offer repairs, expertise on how to install solar panels and sometimes even information on local incentives and net metering programs.

Working with a professional solar company can help your solar project go smoothly. Here are our recommendations:

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 Lake Zurich

Factors that Affect Solar Panel Costs in Lake Zurich

There are many factors that can affect your total installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that performs the installation.

Solar Equipment

System size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of installing solar panels. Because of that, it’s a priority to accurately ascertain the size of the solar energy system needed for your home by figuring out your energy needs.The brand and kind of equipment you want 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 a small roof or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to more savings over time. Plus, if you want additional equipment like an electric vehicle charger or solar batteries, this will also raise the cost.

Solar Financing Terms

Most solar installers in Lake Zurich offer solar loans, which reduce your upfront costs of installing solar.Though solar loans make going solar more accessible for Lake Zurich homeowners, they can also add to 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 last key cost factor you should consider is the installer you choose. Given the booming popularity of renewable energy solutions in Lake Zurich, you’ll have plenty of options to choose from, but each comes at different price points for labor and equipment.Larger national companies usually have lower costs, but some local companies compete with them by offering sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or additional services like electric vehicle charger installation, they might be cheaper overall.

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 $5,032 19.1 years
8 kW $3.84 $21,477 $7,130 18.8 years
10 kW $3.76 $26,320 $9,439 18.4 years
12 kW $3.68 $30,952 $11,959 18.0 years
14 kW $3.61 $35,374 $14,689 17.7 years
16 kW $3.53 $39,585 $17,630 17.3 years
18 kW $3.46 $43,586 $20,781 16.9 years
20 kW $3.38 $47,376 $24,143 16.6 years

How to Save on Solar Panels

The solar panel company you opt for will be a major factor in determining not only your total costs, but also the types of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are several important things you should keep in mind, including:

  • Warranty: Warranties that provide coverage for replacement parts and repairs over a long period of time such as 25 years are the gold standard in the business, and offering such a warranty is one indication of a good company.
  • Solar Panel Brands: Each solar panel brand and model has varying levels of quality, longevity and energy efficiency. They will come at different prices as well. The company you choose impacts which solar panel brands you have access to.
  • Installation Process: When going solar, it’s crucial to keep an open line of communication with your solar panel installer. See to it that you understand how the installation process works and the completion timeline.
  • Contract: Even though reading through a contract can take a lot of time, it’s important to do it carefully so you can be sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.

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 Lake Zurich, IL Solar Cost FAQs

What is the average cost of installing solar panels in Lake Zurich?

This is a difficult question to answer exactly, because the cost depends on many 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 be more expensive if you want additional solar equipment or higher quality panels, or if you have above-average energy consumption. On the flip side, you can spend less if you go with a smaller solar panel system or less expensive solar panels.

Can you get solar panels for free in Lake Zurich?

Solar panels aren’t free in Lake Zurich, but there are some options that can make getting them more feasible, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can further reduce the cost.

How will solar panels impact the value of my home?

Solar panels can increase the value of your home significantly as long as you buy or finance your panels and don’t go for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% with a solar installation."

How many solar panels should I get to power my home?

To figure out what solar panel system size you need, you should find out how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can generally produce about 250 to 400 watt-hours per hour, the average home will need 20 to 35 panels.

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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