Solar Panel Cost Guide in Riverdale, IL (2024 Update)
- Riverdale Solar Installation Cost: $16,818
- 25-Year Savings: $10,400
- Payback Period: 18.6 Years
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Updated February 03, 2024
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Average Cost of Solar Panels in Riverdale
We break down average solar pricing in Riverdale.
The average cost of solar panels in Riverdale is 4 per watt.The average solar panel system size in Riverdale 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.
The prices above are just estimates to give you an idea of the cost of a solar energy system. The exact cost of going solar can vary quite a bit depending on several factors, such as what size system you need, your energy usage and what installation company you go with.With average savings of about $13,000 on energy bills over 20 years, many homeowners in Riverdale find investing in solar can be quite rewarding.
To calculate your potential ROI and connect with a local solar expert, click the button below.
Solar savings over time in Riverdale
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 Riverdale
When going solar, many homeowners choose to go with a solar installation company since installing solar panels yourself can be a difficult project. Another good thing about using a vetted solar installer is that it'll likely provide warranties and free repairs, which help protect your solar investment.
If you're looking for a solar installer in Riverdale, we've put together a list of our top suggestions here:
Best National Provider
SunPower
- 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
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best for Leasing
Sunrun
- 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 Riverdale
Factors that Affect Solar Panel Costs in Riverdale
There are a number of factors that can affect your solar system installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that does the installation.
Solar Equipment
One of the most important factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more power your household uses, the larger your system will likely need to be. You can expect to spend about $3,760 per kilowatt in Riverdale.Some solar brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer better efficiency. In a city like Riverdale, 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
Most solar companies in Riverdale offer solar loans, which reduce the initial cost of installing a solar system.However, the interest on solar loans also adds to your all-in costs, so it’s crucial to include that in your estimate as well. You can always lower the total you pay in interest and possibly even your APR by putting more money down.
Solar Panel Installation Company
The solar company you go with to handle your switch to green energy can play a part in your total costs. There are about 3 solar panel companies in Riverdale, and each can charge varying amounts for labor and equipment.You may see national solar installers that have lower prices due to their larger brand name and access to bulk equipment prices, or you might see small, local installation companies offering deals or promotions to compete with those major players.
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 many solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you select the right company for you, here are some tips to keep in mind:
- Reputation: Your solar installer should have a good reputation as a company and have demonstrated expertise in the field. A couple of ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has satisfied reviews from past customers.
- Solar Panel Brands: The model of solar panel you need plays a role in which installer you should choose, since different companies provide different panels.
- Contract: Look through the contract terms carefully to make sure you understand the overall cost, completion timeline rebates and warranties.
- Installation Process: Homeowners should understand how exactly the installation process will go, as well as important factors like the project completion timeline.
Best National Provider
SunPower
- 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
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
EcoWatch's Riverdale, IL Solar Cost FAQs
What is the average cost of installing solar panels in Riverdale?
The average cost of solar panels in Riverdale is about $18,800 for a 5-kW system and $37,600 for a 10-kW system before the ITC, but the actual cost will depend on stuff 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 Riverdale?
Leasing solar panels can be an option if you are unable 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 financial benefits from going solar.
Is it worth going solar in Riverdale?
Whether or not solar panels are worth it depends on a variety of factors like the cost of electricity near you and the amount of direct sunlight your roof gets.
How often do you have to replace solar panels?
Even 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 their energy production will have decreased significantly after that point. You can choose to replace them once you've had them for that long or you can keep using 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.