Solar Panel Cost Guide in Wood Dale, IL (2024 Update)

  • Wood Dale Solar Installation Cost: $17,196
  • 25-Year Savings: $10,126
  • Payback Period: 19.0 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 Wood Dale

We break down average solar pricing in Wood Dale.

In Wood Dale, solar panels cost about 4 per watt on average.Using this figure, a typical 6.5-kW system would cost about $17,196 before the 0 federal solar tax credit is applied.

These figures are just averages, and your own solar costs will most likely look different based on your energy needs and what company you want to go with.Many homeowners find installing solar panels is a fruitful investment. The average homeowner in Wood Dale can save about $13,000 on their power bills over 20 years.

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

Solar savings over time in Wood Dale

Year Return on Investment
1 years $-16,040
3 years $-13,728
5 years $-11,415
7 years $-9,103
9 years $-6,791
11 years $-4,478
13 years $-2,166
15 years $146
17 years $2,459
19 years $4,771
21 years $7,083
23 years $9,396
25 years $11,708

Top Solar Installers in Wood Dale

Although it's possible to install solar panels on your own, it requires extra effort and expertise. Because of that, most homeowners choose to hire a solar panel installer. The payback period of solar panels will vary based on factors like your location and energy needs, but working with a solar installer can shorten it. Your provider will be able to help you get the most out of incentives available in your area.

If you’d like to go solar but still aren’t certain which solar system 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 Wood Dale

Factors that Affect Solar Panel Costs in Wood Dale

Even though the average cost of a solar system in Wood Dale is $17,196, your actual cost may be above or below the average. There are quite a few factors that can have a sizable impact on the cost of a residential solar panel installation. Below are some of the more crucial things to take into consideration.

Solar Equipment

System size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of installing solar panels. 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 type of solar panels and equipment you want is another factor that will significantly influence costs. Solar panels that are more efficient, like monocrystalline panels, tend to come at a higher price. Further, solar equipment consists of more than just the solar panels themselves. You’ll also need to think about the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when researching a solar system that’s in your budget.

Solar Financing Terms

Many homeowners find the average cost of solar in Wood Dale to be prohibitively steep, even if the investment pays off over time. Fortunately, nearly every solar installer in the area provides access to financing options. Solar loans greatly decrease upfront costs in most cases, but they also result in a higher cost over time because of interest.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 can only 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 getting a solar loan with a low APR could reduce your costs considerably.

Solar Panel Installation Company

Finally, the company you get to install your solar panels can play a role in determining the cost. Wood Dale’s solar companies all have different labor costs and add varying upcharges to equipment. The company’s size can sometimes play the most considerable role in the cost. Larger national companies, like SunPro and Sunrun, often have lower pricing because they have access to greater resources and bulk pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or discount can bring their pricing down to compete with bigger names.

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 $4,341 19.8 years
8 kW $3.84 $21,477 $6,210 19.4 years
10 kW $3.76 $26,320 $8,288 19.0 years
12 kW $3.68 $30,952 $10,578 18.6 years
14 kW $3.61 $35,374 $13,078 18.3 years
16 kW $3.53 $39,585 $15,788 17.9 years
18 kW $3.46 $43,586 $18,709 17.5 years
20 kW $3.38 $47,376 $21,841 17.1 years

How to Save on Solar Panels

Since the brand 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 tips to keep in mind to help with your decision:

  • Contract: Before you sign a contract with a solar company, make sure to look it over carefully so you understand the terms. Also, ask questions if you’re unsure about some of the terms, such as what to do if a component breaks or malfunctions and what services you can expect from them.
  • Reputation: Your solar installer should have a good 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 good reviews from past customers.
  • Installation Process: When making the switch to solar, it’s crucial to keep an open line of communication with your solar company. Confirm that you understand how the installation process works and the completion timeline.
  • Solar Panel Brands: Each solar panel brand and type has varying levels of quality, durability and efficiency. They will come at different prices as well. The company you choose affects which solar panel brands you have access to.

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 Wood Dale, IL Solar Cost FAQs

What is the average cost of installing solar panels in Wood Dale?

The average cost of solar panels in Wood Dale 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 type of solar panels you want, what size system you need and how much energy you use.

Is it better to lease or buy solar panels in Wood Dale?

Leasing solar panels can be an option if you can’t afford to pay upfront or get a solar loan, but since you don’t own the system, you can’t take advantage of many solar incentives. Also your property 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 bang for your buck from going solar.

How will having solar panels impact my property value?

Solar panels can increase your home value significantly as long as you buy or finance your panels and don’t choose a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing a solar system."

What solar power system size is right for my home?

The exact number of solar panels you need depends on your household energy consumption and the amount of sunlight your roof gets. You can take a look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to get between 20 and 35 panels to cover their typical energy usage.

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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