Solar Panel Cost Guide in Sugar Loaf, IL (2024 Update)
- Sugar Loaf Solar Installation Cost: $16,000
- 25-Year Savings: $13,276
- Payback Period: 16.1 Years
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Average Cost of Solar Panels in Sugar Loaf
Let’s take a look at the average cost of solar in Sugar Loaf.
The average cost of a solar system in Sugar Loaf is 4 per watt.Using this figure, a typical 6.1-kW system would cost about $16,000 before the 0 federal solar tax credit is applied.
Remember that the numbers above are only averages. The price you’ll end up paying for solar may look quite different based on your household energy needs, the type of solar panels you want, your solar contractor and more.For many homeowners, the upfront investment in solar is worth paying. On average you could be looking at about $16,000 in savings on utility bills over 20 years.
You can click the button below to get connected with a pre-vetted solar company in Sugar Loaf for a quote for your home.
Solar savings over time in Sugar Loaf
| Year | Return on Investment |
|---|---|
| 1 years | $-15,149 |
| 3 years | $-13,448 |
| 5 years | $-11,746 |
| 7 years | $-10,045 |
| 9 years | $-8,344 |
| 11 years | $-6,643 |
| 13 years | $-4,941 |
| 15 years | $-3,240 |
| 17 years | $-1,539 |
| 19 years | $163 |
| 21 years | $1,864 |
| 23 years | $3,565 |
| 25 years | $5,267 |
Top Solar Installers in Sugar Loaf
Although it's possible to install solar panels by yourself, it takes extra labor and expertise. That's one of the reasons almost all homeowners choose to hire a solar panel installer. The expertise that solar installers provide can be valuable as well, particularly if you don’t quite know what brand of solar equipment would be right for your home.
Working with a professional solar installer can make going solar easier. Here are our recommendations:
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 Sugar Loaf
Factors that Affect Solar Panel Costs in Sugar Loaf
The cost of installing a solar system in Sugar Loaf can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The largest one is the size of the system you need, and other factors include equipment choices, financing options and the solar installer you choose.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of going solar. Because of that, it’s crucial to accurately ascertain the size of the solar energy system needed for your home by figuring out your average energy use.Some solar brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer better efficiency. In a city like Sugar Loaf, where sunlight is relatively abundant, efficiency can quickly pay off. Also, 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 installers in Sugar Loaf provide solar loans, which reduce your upfront costs of installing a solar system.You’ll have to consider the long-term cost of loans, including the amount of interest you’ll pay over the length of the loan. If you’re only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the original cost. Making a larger down payment or finding a solar loan with a low interest rate could reduce your costs considerably.
Solar Panel Installation Company
The solar panel installation company you choose will play a role in your total cost to adopt solar energy. Different companies will charge different amounts for the equipment and labor.Larger national companies usually have lower costs, but some local companies compete with them by promoting sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or extra services like electric car charger installation, they might be cheaper overall.
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 | $8,146 | 16.7 years |
| 8 kW | $3.84 | $21,477 | $11,282 | 16.4 years |
| 10 kW | $3.76 | $26,320 | $14,629 | 16.1 years |
| 12 kW | $3.68 | $30,952 | $18,186 | 15.7 years |
| 14 kW | $3.61 | $35,374 | $21,954 | 15.4 years |
| 16 kW | $3.53 | $39,585 | $25,933 | 15.1 years |
| 18 kW | $3.46 | $43,586 | $30,122 | 14.8 years |
| 20 kW | $3.38 | $47,376 | $34,522 | 14.5 years |
How to Save on Solar Panels
There are many companies to choose from in Sugar Loaf, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be tough, so here are some tips to help you decide:
- Contract: Read the contract terms carefully to make sure you understand the cost breakdown, completion timeline incentives and warranties.
- 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 kind of solar panel you can get, not every company will have access to the exact one you may want or need, so be sure to peruse their list of offerings before making your decision.
- Reputation: Solar installers that have great reviews from their customers and that have been operating for many years in most cases offer high-quality solar panel installation and expertise.
- Warranty: If you care about the durability of your solar panel system, making sure your installer offers a 25-year, all-inclusive warranty can give you some peace of mind.
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 Sugar Loaf, IL Solar Cost FAQs
How much does it cost to install solar panels in Sugar Loaf?
The average cost of solar panels in Sugar Loaf 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 things such as the kind of solar panels you want, what size system you need and how much energy you consume.
Are solar panels free in Sugar Loaf?
A solar panel system isn’t free in Sugar Loaf, 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 further reduce the cost.
Does Sugar Loaf have a net metering program?
Most states have net metering programs of some kind. Through these, you can receive compensation for the extra power your system produces or or receive credits to put toward future utility bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.
How many solar panels do I need to power my home?
To figure out how many solar panels you need, you need to know how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average home will need 20 to 35 panels.
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.