Solar Panel Cost Guide in South Elgin, IL (2024 Update)

  • South Elgin Solar Installation Cost: $17,188
  • 25-Year Savings: $11,391
  • Payback Period: 18.0 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 South Elgin

Find out what the average cost of a solar system is in South Elgin.

While the national average of solar panels is $2.66 per watt, solar panels in South Elgin typically cost around 4.The average South Elgin homeowner needs a 6.5-kilowatt system, which would cost about $17,188 with the federal tax credit, or $24,579 before the 0 tax credit is applied.

Keep in mind that the figures above are only estimates based on the average South Elgin homeowner. The price of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor.For most homeowners, the upfront investment in solar panels is worth paying. On average South Elgin homeowners see about $14,000 in savings on utility bills over 20 years.

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

Solar savings over time in South Elgin

Year Return on Investment
1 years $-16,032
3 years $-13,719
5 years $-11,407
7 years $-9,094
9 years $-6,782
11 years $-4,470
13 years $-2,157
15 years $155
17 years $2,467
19 years $4,780
21 years $7,092
23 years $9,404
25 years $11,717

Top Solar Installers in South Elgin

Many homeowners choose to use a solar installation company since trying to install solar panels on your own can be hard. Solar warranties and repairs are typically included in the cost of installation when you hire a solar company as well, which can save you more money after your upfront investment.

There are several 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 South Elgin

Factors that Affect Solar Panel Costs in South Elgin

Though the average cost of a solar system in South Elgin is $17,188, your final cost may differ. There are quite a few factors that can have a significant impact on the cost of a solar system installation. Below are some of the more crucial things to take into consideration.

Solar Equipment

When it comes to estimating the cost of a solar panel system in South Elgin, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are mainly based on your home’s energy consumption, which you can figure out by looking at past energy bills. Your overall cost can increase by around $3,760 for each additional kilowatt you need.The solar equipment you choose can bring your price up or down 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. On the other hand, more efficient panels could save you more over time on your energy bills. Additionally, add-on products, like solar batteries, can bump up your total well above the South Elgin average.

Solar Financing Terms

For some homeowners, paying for solar out of pocket can be financially overwhelming. Solar loans are available from most installers in South Elgin, which can lower, or in some cases eliminate, your upfront costs to make solar more accessible.However, the interest on solar loans also increases your overall costs, so it’s important to consider that 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

Finally, the company you opt for to install your solar system can play a part in determining the cost. South Elgin’s solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in South Elgin are more knowledgeable about local solar incentives and can help you make good use of additional rebates or tax exemptions. Though, they may charge more for walking you through the whole process. Even if they cost more upfront, they could end up saving you more money in the long run.

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 $5,508 18.7 years
8 kW $3.84 $21,477 $7,766 18.4 years
10 kW $3.76 $26,320 $10,233 18.0 years
12 kW $3.68 $30,952 $12,912 17.6 years
14 kW $3.61 $35,374 $15,801 17.3 years
16 kW $3.53 $39,585 $18,900 16.9 years
18 kW $3.46 $43,586 $22,210 16.6 years
20 kW $3.38 $47,376 $25,731 16.2 years

How to Save on Solar Panels

Since the model of solar panels and the installer you choose has an impact on your costs and your system’s durability and efficiency, it’s important to pick the right ones for you. Here are some things to keep in mind to help with your decision:

  • Warranty: Each company may offer different types of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
  • Solar Panel Brands: Each solar panel brand and type offers varying levels of quality, durability and energy efficiency. They will come at different price points as well. The company you choose has an impact on which solar panel brands you have access to.
  • Contract: When looking through your solar company’s contract, ask questions about any terms you’re not sure of and be sure you understand what happens in scenarios such as a system part breaking or if the company goes out of business.
  • Reputation: Your solar installer should have a sound 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 good reviews from past customers.

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 South Elgin, IL Solar Cost FAQs

What is the average cost of installing solar panels in South Elgin?

The average cost of solar panels in South Elgin 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 stuff such as the kind of solar panels you want, what size system you need and how much energy you use.

Are solar panels free in South Elgin?

A solar panel system isn’t free in South Elgin, but there are some options that can make getting them more viable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can help lower the cost.

Does South Elgin have a net metering program?

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 offer you credit toward your future energy bills.

How long do solar panels last in South Elgin?

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 higher amount 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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