Solar Panel Cost Guide in Winnetka, IL (2024 Update)
- Winnetka Solar Installation Cost: $16,818
- 25-Year Savings: $12,393
- Payback Period: 17.1 Years
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Average Cost of Solar Panels in Winnetka
Here’s how much it might cost to go solar in Winnetka.
While the national average of solar panels is $2.66 per watt, solar panels in Winnetka generally cost about 4.The average Winnetka 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.
Bear in mind that the figures above are only estimates based on the average energy use of Winnetka homeowners. The price of a solar system for your home may be different depending on factors unique to your situation, like your household energy use and solar contractor.For many homeowners, the upfront cost of solar power is worth paying. On average homeowners in Winnetka see about $15,000 in savings on energy bills over 20 years.
For a personalized quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Winnetka
| 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 Winnetka
Many homeowners decide to hire a solar panel company since trying to install solar panels yourself can be a labor-intensive endeavor. A solar company can also help save you money in the long run by providing warranties, repairs and component replacements.
You can get a free estimate from a local solar installer on the cost of solar panels for your home. Here are some near you:
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 Winnetka
Factors that Affect Solar Panel Costs in Winnetka
There are a number of factors that can play into your total 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
Solar system size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of going solar. That’s why it’s important to accurately ascertain the size of the solar energy system needed for your home by figuring out your typical energy use.The brand of solar panels and equipment you get is another factor that will greatly influence costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to cost more. Further, solar equipment goes beyond just the solar panels themselves. You’ll also need to decide on the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when searching for a solar system that falls within your budget.
Solar Financing Terms
Many homeowners find the average cost of solar in Winnetka to be too expensive, even if the investment pays off over time. Fortunately, almost every solar installer in the area provides access to financing options. Solar loans drastically decrease upfront costs in most cases, but they also lead to paying more over time due to interest.When considering your overall cost, you should also calculate the interest you’ll pay if you choose to go with a solar loan. Also, paying more on your down payment can lower the total interest paid over time.
Solar Panel Installation Company
Finally, the company you opt for to install your solar system can play a role in determining how much it costs. Winnetka’s solar companies all have different labor costs and add varying upcharges to equipment. You may come across national solar installers that have lower prices due to their larger brand name and access to bulk 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 | $6,679 | 17.8 years |
| 8 kW | $3.84 | $21,477 | $9,326 | 17.4 years |
| 10 kW | $3.76 | $26,320 | $12,184 | 17.1 years |
| 12 kW | $3.68 | $30,952 | $15,253 | 16.7 years |
| 14 kW | $3.61 | $35,374 | $18,532 | 16.4 years |
| 16 kW | $3.53 | $39,585 | $22,022 | 16.1 years |
| 18 kW | $3.46 | $43,586 | $25,722 | 15.7 years |
| 20 kW | $3.38 | $47,376 | $29,633 | 15.4 years |
How to Save on Solar Panels
Since the kind of solar panels and the company you choose has an impact on your costs and your system’s efficiency, production, and durability, it’s important to pick the right ones for you. Here are some things to keep in mind to help with your decision:
- Reputation: Companies that have been operating for many years likely have a solid reputation. This is important because it ensures that it will not only see your solar project through, but will also provide quality aftercare and customer service, such as part repairs and replacements.
- Installation Process: When going solar, it’s essential to keep an open line of communication with your solar panel installer. Make sure you understand how the installation process works and the project timeline.
- Solar Panel Brands: Not all solar installers have the same brands of solar panels, so the brand and type of panel you want can play a big role in the company you go with.
- Contract: Although reading through a contract can take a lot of time, it’s important to do it carefully so you can be sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
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 Winnetka, IL Solar Cost FAQs
How much does it cost to install solar panels in Winnetka?
The average cost of solar panels in Winnetka 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 things like the model of solar panels you want, what size system you need and how much energy you consume.
Are solar panels free in Winnetka?
You can’t get solar panels for free in Winnetka. However, you may still be able to get them on a lower budget. You can lease solar panels for a low upfront cost or, if you’d prefer to own your solar panels, you can finance them with a solar loan.
Do solar panels increase the value of your home?
Installing solar panels on your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Winnetka is currently $1,450,451, so you can look forward to a value of about $59,468 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Winnetka is a worthwhile investment.
What solar power system size is right for my home?
To figure out what solar panel system size you need, you should find out how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can typically produce about 250 to 400 watt-hours per hour, the average house 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.