Solar Panel Cost Guide in Norwood Park, IL (2024 Update)

  • Norwood Park Solar Installation Cost: $16,818
  • 25-Year Savings: $10,400
  • Payback Period: 18.6 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 Norwood Park

We go over average solar pricing in Norwood Park.

Currently, the national average cost of solar panels is $2.66 per watt. However, in Norwood Park, the average cost of solar panels is 4 per watt.The average solar panel system size in Norwood Park is around 6.4 kilowatts, meaning a cost of about $16,818 for a solar installation, or $24,050 before the 0 federal solar tax credit is applied.

These figures are just estimates, and your own solar costs may look different based on your energy needs and what company you go with.Even with the high initial cost, the average Norwood Park homeowner can save around $13,000 on their power bills over 20 years, which is one of the benefits of solar.

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

Solar savings over time in Norwood Park

Year Return on Investment
1 years $-15,662
3 years $-13,350
5 years $-11,038
7 years $-8,725
9 years $-6,413
11 years $-4,100
13 years $-1,788
15 years $524
17 years $2,837
19 years $5,149
21 years $7,461
23 years $9,774
25 years $12,086

Top Solar Installers in Norwood Park

DIY solar panel installation is a possibility, but it's an undertaking that can be a pain. Going with a solar company can make converting to solar power much easier. Another advantage of utilizing a solar installer is that they can help you maximize your ROI by lowering your future costs of repairs and replacements because of warranties and helping you learn about local incentives you can take advantage of.

If you’d like to switch to solar energy but still aren’t certain which solar installer to go with, here are our recommendations for providers near you:

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 Norwood Park

Factors that Affect Solar Panel Costs in Norwood Park

For many Norwood Park homeowners, the decision to go solar comes down to cost. However, the range of solar installation costs can be quite wide in Norwood Park, with typical prices between $20,000 to $40,000. There are various 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 some different factors. One of the main factors is the system size, which is measured in kilowatts (kW). Solar power systems with higher efficiency or power generation use 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.Some solar brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer better efficiency. In a city like Norwood Park, where sunlight is relatively abundant, efficiency can quickly pay off. Plus, if you have a small roof or you don’t have a lot of space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.

Solar Financing Terms

For some homeowners, paying for solar out of pocket can be financially overwhelming. Solar loans are offered by most installers in Norwood Park, which can reduce, or in some cases totally eliminate, your upfront costs to make solar more accessible.While solar loans make going solar more accessible for Norwood Park homeowners, they can also increase the total you pay for your system due to interest. If you put down a larger down payment, though, you can avoid paying as much in interest.

Solar Panel Installation Company

The solar installer you opt for to handle your switch to solar energy can play a part in your total costs. There are about 3 solar panel companies in Norwood Park, and each can charge different amounts for labor and equipment.You may come across national solar installers that have lower prices because of their bigger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or promotions 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 $4,808 19.3 years
8 kW $3.84 $21,477 $6,832 19.0 years
10 kW $3.76 $26,320 $9,066 18.6 years
12 kW $3.68 $30,952 $11,511 18.2 years
14 kW $3.61 $35,374 $14,166 17.9 years
16 kW $3.53 $39,585 $17,032 17.5 years
18 kW $3.46 $43,586 $20,109 17.1 years
20 kW $3.38 $47,376 $23,396 16.7 years

How to Save on Solar Panels

There are a lot of companies available in Norwood Park, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be difficult, so here are some tips to help you decide:

  • Solar Panel Brands: Homeowners will have different preferences for panels depending on their roof configurations and how much efficiency they need. While there are many options for which model of solar panel you can get, not every company will have the exact one you may want or need, so make sure you peruse their list of offerings before making your decision.
  • Warranty: If you care about the durability of your solar panels, checking if your installer offers a 25-year, all-inclusive warranty can help put you at ease.
  • Contract: Review the contract terms carefully to make sure you understand how much it will cost, project completion timeline rebates and warranties.
  • Installation Process: Make sure you’re on the same page with the company with regard to how the installation process will go and what you need to do before your solar panel system is installed, such as updating or replacing your electrical system or roof.

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 Norwood Park, IL Solar Cost FAQs

What is the average cost of installing solar panels in Norwood Park?

This is a difficult question to answer exactly, because the cost depends on a variety of 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 needs. On the flip side, you can spend less if you want a smaller solar panel system or less expensive solar panels.

Can you get solar panels for free in Norwood Park?

A solar panel system isn’t free in Norwood Park, but there are some options that can make getting them more affordable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that you can take advantage of.

How will solar panels impact the value of my home?

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

How often do you have to replace solar panels?

Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is how much energy they produce will have decreased significantly after that point. You can choose to replace them once you've had 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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