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

  • Nameoki Solar Installation Cost: $16,101
  • 25-Year Savings: $8,140
  • Payback Period: 20.3 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 Nameoki

Here’s how much it might cost to switch to solar power in Nameoki.

Currently, the national average cost of solar panels is $2.66 per watt. However, in Nameoki, the average cost of solar panels is 4 per watt.The average solar panel system size in Nameoki is around 6.1 kilowatts, meaning a cost of about $16,101 for a solar installation, or $23,024 before the 0 federal solar tax credit is applied.

The prices above are just estimates to give you an idea of the cost of a solar panel system. The true cost of going solar can vary depending on several factors, such as what size system you need, your energy consumption and what company you go with.Many homeowners find going solar is a solid investment. The average homeowner in Nameoki can save around $12,000 on their power bills over 20 years.

To see your potential savings and connect with a local solar company, click the button below.

Solar savings over time in Nameoki

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 Nameoki

Many homeowners opt for a solar installer since figuring out how to install solar panels on your own can be hard. Companies can also have access to quality options of the best solar panels and help you decide which one will be right for your family.

If you're searching for a solar installer in Nameoki, we've put together a list of our top suggestions here:

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 Nameoki

Factors that Affect Solar Panel Costs in Nameoki

Cost is often one of the most important factors for homeowners wanting to invest in solar. There are a few major factors that affect your total cost in Nameoki: solar equipment and system size, financing options and the solar installation company you choose. We’ll discuss each of these briefly below.

Solar Equipment

When it comes to estimating the cost of a solar system in Nameoki, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are primarily based on your home’s energy consumption, which you can determine by looking at past power bills. Your total cost can increase by around $3,760 for each additional kilowatt you need.There are a lot of different solar panel brands and the one you choose also affects the cost. Typically, the brands that offer higher efficiency tend to also be more expensive. Additionally, the type of equipment you choose can affect your total cost. If you only need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.

Solar Financing Terms

Most solar installers in Nameoki offer solar loans, which reduce your upfront costs of installing solar panels.When estimating 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 solar installer you choose to handle your switch to renewable energy can play a role in your total costs. There are about 3 solar installation companies operating in Nameoki, and each can charge different amounts for labor and equipment.You may see national solar installers that have lower prices because of their bigger brand name and access to bulk pricing, 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 $3,026 21.1 years
8 kW $3.84 $21,477 $4,456 20.7 years
10 kW $3.76 $26,320 $6,096 20.3 years
12 kW $3.68 $30,952 $7,947 19.9 years
14 kW $3.61 $35,374 $10,008 19.5 years
16 kW $3.53 $39,585 $12,280 19.1 years
18 kW $3.46 $43,586 $14,763 18.7 years
20 kW $3.38 $47,376 $17,456 18.3 years

How to Save on Solar Panels

The solar installer you choose will be a major factor in determining not only your overall costs, but also the types of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are a few important things you should consider, such as:

  • Warranty: Companies typically offer different kinds of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
  • Installation Process: Homeowners should understand how exactly the installation process will go, as well as important factors like the project timeline.
  • Contract: When looking over your solar installer’s contract, ask for clarification about any terms you’re not sure of and be sure you understand what happens in scenarios like a system component breaking or the company going out of business.
  • Solar Panel Brands: Different companies will offer different brands and types of panels. If you want a specific brand, make sure the solar panel company you’re considering has it.

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 Nameoki, IL Solar Cost FAQs

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

This is a tough question to answer exactly, because the cost depends on a few different 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. You can expect to pay more if you want extra solar equipment or higher quality panels, or if you have higher-than-average energy consumption. On the other hand, you can spend less if you want a smaller solar panel system or cheaper solar panels.

Should I lease or buy solar panels in Nameoki?

Leasing solar panels can be an attractive choice, because it typically comes with low or $0 upfront payments. The drawback is that you won’t be able to save as much. If you lease, you don’t own the system, so you can’t claim any tax rebates and credits and your home value won’t increase. Buying solar panels is a better way to go if you want to get the most savings.

How will installing solar panels impact my property 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 Nameoki is currently $84,733, which means you can expect a value of about $3,474 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Nameoki is a fruitful investment.

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.

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