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

  • Summit 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 Summit

Let’s have a look at the average cost of solar in Summit.

While the national average of solar panels is $2.66 per watt, solar panels in Summit generally cost about 4.The average Summit homeowner needs a 6.4-kilowatt system, which would cost about $16,818 with the federal tax credit, or $24,050 before the 0 tax credit is applied.

The prices above are just estimates to give you an idea of how much solar panels could cost. The true cost of going solar can vary quite a bit based on a few factors, such as what size system you need, your energy usage and what installation company you go with.With typical savings of about $13,000 on energy bills over 20 years, many homeowners in Summit find installing solar panels has a decent ROI.

Click the button below to get connected to a highly rated solar company in your area for a custom quote.

Solar savings over time in Summit

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 Summit

Installing solar panels on your own can be a dangerous task, which is why using a solar installer is a good option for many homeowners. Some solar installers, particularly local ones, can help you better understand incentives in Summit, optimizing your ROI.

If you’d like to start using solar energy but still aren’t certain which solar company to go with, here are our recommendations for providers nearby:

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 Summit

Factors that Affect Solar Panel Costs in Summit

Although the average cost of a solar system in Summit is $16,818, your actual cost may be above or below the average. There are many factors that can have a major impact on the cost of a solar system installation. Below are some of the more crucial things to take into consideration.

Solar Equipment

The size of the solar energy system you need for your household, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, your total will most likely increase by about $3,760. There are a lot of different solar panel brands and the one you pick also changes the cost. Usually, the brands that offer higher efficiency tend to also cost more. Additionally, the type of equipment you choose can affect your total cost. If you just need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.

Solar Financing Terms

Solar panels can save you money on power bills over many years, but they can also be a significant investment. That’s why many Summit homeowners decide to finance their solar panel systems to make paying for solar more affordable.You’ll have to consider the long-term cost of loans, including the total 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 above the equipment and labor cost. Making a larger down payment or securing a solar loan with a low interest rate could reduce your costs considerably.

Solar Panel Installation Company

The solar installer you opt for to handle your switch to renewable energy can play a part in your total costs. There are about 3 solar panel companies operating throughout Summit, and each can charge varying amounts for labor and equipment.Additionally, some companies in Summit have more knowledge about local solar incentives and can help you take advantage of additional rebates or tax exemptions. However, they may charge more for walking you through the whole process. Even if they cost more upfront, they could help you save 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 $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

The company that does your solar system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Since picking a company can be a challenge, we have some tips to help you, such as:

  • Warranty: A quality company stands out from other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
  • Installation Process: Get detailed information from your solar installer about the installation process and what to expect, including when the site survey will be completed and how long it will take.
  • Reputation: Your solar installer should have a sound reputation as a company and have demonstrated expertise in the field. Two 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 previous customers.
  • Contract: Although reading through a contract can take a lot of time, it’s important to do it fully so you can be sure you understand what services your solar company will provide and the terms of the warranty.

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 Summit, IL Solar Cost FAQs

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

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 more efficient panels, or if you have above-average energy usage. On the other hand, you can spend less if you choose a smaller solar panel system or less expensive solar panels.

Is cost the most important thing to consider when buying solar panels?

Cost is a very important factor to consider, but whether it’s the most important for you depends on your reasons for going solar. In areas where rooftop space is limited, efficiency can trump the cost. Other factors that are important to consider are the quality and durability of your solar panels.

Is switching to solar power worth it?

Solar panels can be a beneficial investment for a majority of homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your electricity bills are already reasonably low, solar panels might not be for you.

How long do solar panels last in Summit?

On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down 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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