Solar Panel Cost Guide in Woodridge, IL (2024 Update)
- Woodridge Solar Installation Cost: $17,003
- 25-Year Savings: $10,841
- Payback Period: 18.3 Years
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Average Cost of Solar Panels in Woodridge
Here’s how much it might cost to install solar panels in Woodridge.
The national average cost of solar panels is $2.66 per watt, but in Woodridge it’s 4 per watt.The average Woodridge homeowner needs a 6.5-kilowatt system, which would cost about $17,003 with the federal tax credit, or $24,314 before the 0 tax credit is applied.
How much you pay can be above or below the average in Woodridge depending on a variety of factors, such as the brand of solar panels you choose and the solar contractor you hire.Even with the large initial cost, the average Woodridge homeowner can save about $14,000 on their electricity bills over 20 years, which is one of the perks of solar.
For a personalized quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Woodridge
| Year | Return on Investment |
|---|---|
| 1 years | $-15,846 |
| 3 years | $-13,534 |
| 5 years | $-11,222 |
| 7 years | $-8,909 |
| 9 years | $-6,597 |
| 11 years | $-4,285 |
| 13 years | $-1,972 |
| 15 years | $340 |
| 17 years | $2,652 |
| 19 years | $4,965 |
| 21 years | $7,277 |
| 23 years | $9,589 |
| 25 years | $11,902 |
Top Solar Installers in Woodridge
Many homeowners opt for a solar installer since trying to put up solar panels yourself can be time-consuming. The payback period on a solar system will vary based on factors like your location and energy consumption, but going with a solar company can shorten it. Your provider will be able to help you get the most out of incentives available in your area.
Working with a licensed solar company 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 Woodridge
Factors that Affect Solar Panel Costs in Woodridge
There are many factors that can influence your solar panel installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that performs the installation.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a few different factors. One of the main factors is the system size, which is measured in kilowatts (kW). Solar power systems with greater efficiency or power generation use better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $3,760.The kind of solar equipment you choose can increase or decrease your cost 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. However, more efficient panels could save you more over time on your electric bills. In addition, extra products, like solar batteries, can bring your total well above the Woodridge average.
Solar Financing Terms
Most solar companies in Woodridge provide solar loans, which reduce your upfront costs of installing solar panels.You’ll have to consider the long-term cost of financing options, 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 above the equipment and labor cost. Making a larger down payment or finding a solar loan with a low APR could reduce your costs remarkably.
Solar Panel Installation Company
Finally, the company you hire to install your solar panel system can play a role in determining how much it costs. Woodridge’s solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Woodridge have more knowledge about local solar incentives and can help you make good use of additional rebates or tax exemptions. Though, they may charge more for that service. 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 | $5,111 | 19.1 years |
| 8 kW | $3.84 | $21,477 | $7,236 | 18.7 years |
| 10 kW | $3.76 | $26,320 | $9,571 | 18.3 years |
| 12 kW | $3.68 | $30,952 | $12,117 | 18.0 years |
| 14 kW | $3.61 | $35,374 | $14,873 | 17.6 years |
| 16 kW | $3.53 | $39,585 | $17,840 | 17.2 years |
| 18 kW | $3.46 | $43,586 | $21,018 | 16.9 years |
| 20 kW | $3.38 | $47,376 | $24,406 | 16.5 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you pick the right company for you, here are some tips to keep in mind:
- Installation Process: When going solar, it’s essential to maintain an open line of communication with your solar company. See to it that you understand how the installation process will go and the project completion timeline.
- Reputation: Solar panel companies that have great reviews from their customers and that have been operating for many years in most cases offer good-quality solar panel installation and expertise.
- Contract: It’s important to look over your solar installer’s contract fully to understand what services they will provide, what the warranty covers and what expectations you should have about your solar system’s energy production.
- Warranty: Warranties that provide coverage for defective panels and repairs over around 25 years are the best you can get in the business, and offering that kind of warranty is one indication of a quality company.
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 Woodridge, IL Solar Cost FAQs
How much does it cost to install solar panels in Woodridge?
The average cost of solar panels in Woodridge 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 model of solar panels you want, what size system you need and how much energy you consume.
Are solar panels free in Woodridge?
You can’t get solar panels for free in Woodridge. However, you may still be able to install them on a lower budget. You can lease solar panels for a low upfront cost or, if you’d rather own your solar panels, you can finance them with a solar loan.
How will installing solar panels impact the value of my 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 Woodridge is currently $358,520, so you could be looking at a value of about $14,699 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Woodridge is a fruitful investment.
How often do you have to replace solar panels?
On average, solar panels can last 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 larger 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.