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

  • Ludlow Solar Installation Cost: $16,614
  • 25-Year Savings: $13,998
  • Payback Period: 15.9 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 Ludlow

See how much it might cost to switch to solar power in Ludlow.

Although the national average of solar panels is $2.66 per watt, solar panels in Ludlow typically cost around 4.The average Ludlow homeowner needs a 6.3-kilowatt system, which would cost about $16,614 with the federal tax credit, or $23,758 before the 0 tax credit is applied.

Remember that the numbers above are only averages. The price you’ll pay for solar will differ based on your household energy consumption, the type of solar panels you want to get, your solar contractor and more.Even with the significant initial cost, the average Ludlow homeowner can save around $16,000 on their energy bills over 20 years, which is one of the advantages of solar.

To get a free quote from a pre-vetted solar company in Ludlow, you can click the button below.

Solar savings over time in Ludlow

Year Return on Investment
1 years $-15,763
3 years $-14,062
5 years $-12,361
7 years $-10,659
9 years $-8,958
11 years $-7,257
13 years $-5,556
15 years $-3,854
17 years $-2,153
19 years $-452
21 years $1,250
23 years $2,951
25 years $4,652

Top Solar Installers in Ludlow

When going solar, many homeowners opt to use a solar company since putting up a solar system yourself can be a time-consuming project. Some solar companies, particularly local ones, can help you take advantage of incentives in Ludlow, optimizing your ROI.

There are a number of licensed solar professionals that can help you install your solar system. Here are our suggestions:

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 Ludlow

Factors that Affect Solar Panel Costs in Ludlow

For many Ludlow homeowners, the decision to install a solar energy system depends on cost. However, the range of solar installation costs can be quite wide in Ludlow, with typical prices between $20,000 to $40,000. There are numerous factors that considerably influence the price you’ll pay, which we'll go over below.

Solar Equipment

The cost of solar panel systems varies by thousands of dollars due to a variety of factors. One of the notable factors is the system size, which is measured in kilowatts (kW). Solar power systems that have greater efficiency or power generation need better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $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 get the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. However, higher efficiency could save you more in the long run on your electric bills. In addition, add-on products, such as solar batteries, can bump up your total well above the Ludlow average.

Solar Financing Terms

Solar panels can save you money on utility bills over time, but they can also be a big investment. That’s why many Ludlow homeowners opt to finance their solar panel systems to offset upfront costs.When trying to figure out your overall cost, you should also calculate the interest you’ll pay if you opt for a solar loan. Also, paying more upfront can reduce the total interest paid over time.

Solar Panel Installation Company

The last major cost factor you should keep in mind is the installer you choose. Given the booming popularity of renewable energy solutions in Ludlow, you’ll have lots of options to choose from, but each comes at different price points for labor and equipment.You may come across national solar installers that have lower prices due to their bigger brand name and access to bulk equipment prices, or you might see small, local installation companies offering deals or specials to compete with those larger companies.

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 $8,348 16.6 years
8 kW $3.84 $21,477 $11,551 16.3 years
10 kW $3.76 $26,320 $14,966 15.9 years
12 kW $3.68 $30,952 $18,590 15.6 years
14 kW $3.61 $35,374 $22,426 15.3 years
16 kW $3.53 $39,585 $26,472 15.0 years
18 kW $3.46 $43,586 $30,728 14.7 years
20 kW $3.38 $47,376 $35,195 14.3 years

How to Save on Solar Panels

There are many solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you select the right company for you, here are some tips to keep in mind:

  • Solar Panel Brands: Each solar panel brand and type offers varying levels of quality, longevity and energy efficiency. They will come at different prices as well. The company you choose plays a role in which solar panel brands you have access to.
  • Reputation: Your solar installer should have a good reputation as a company and have proven expertise in the field. A couple of ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has good reviews from past customers.
  • Contract: Before signing a contract with a solar installer, be sure to read it through carefully so you understand the terms. Also, ask questions if you aren’t sure about some of the terms, such as what the warranty covers and if there are any guarantees about energy production.
  • Installation Process: Homeowners should make sure they know how exactly the installation process will be carried out, as well as important factors like the completion timeline.

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 Ludlow, IL Solar Cost FAQs

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

The average cost of solar panels in Ludlow is about $18,800 for a 5-kW system and $37,600 for a 10-kW system before the ITC, but the real cost will depend on certain factors such as the model of solar panels you want, what size system you need and how much energy you use.

Should I lease or buy solar panels in Ludlow?

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 don’t have access to 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.

Can you sell solar power back to the grid in Ludlow?

Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just give you credit toward your future power bills.

How long do solar panels last in Ludlow?

On average, solar panels can last 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 higher 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.

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