Solar Panel Cost Guide in Northbrook, OH (2024 Update)
- Northbrook Solar Installation Cost: $17,636
- 25-Year Savings: $15,016
- Payback Period: 15.6 Years
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Average Cost of Solar Panels in Northbrook
Find out what the average cost of installing solar panels is in Northbrook.
In Northbrook, solar panels cost about 3 per watt on average.Using this figure, a typical 7.4-kW system would cost about $17,636 before the 0 federal solar tax credit is applied.
These figures are just averages, and the cost of going solar for you may differ based on the amount of energy your home requires and what company you choose to go with.For most homeowners, the upfront cost of solar panels is worth paying. On average Northbrook homeowners see about $15,000 in savings on utility bills over 20 years.
To see your potential ROI and connect with a local solar expert, click the button below.
Solar savings over time in Northbrook
| Year | Return on Investment |
|---|---|
| 1 years | $-16,471 |
| 3 years | $-14,141 |
| 5 years | $-11,811 |
| 7 years | $-9,481 |
| 9 years | $-7,151 |
| 11 years | $-4,821 |
| 13 years | $-2,491 |
| 15 years | $-161 |
| 17 years | $2,169 |
| 19 years | $4,499 |
| 21 years | $6,828 |
| 23 years | $9,158 |
| 25 years | $11,488 |
Top Solar Installers in Northbrook
When making the switch to solar, many homeowners prefer to use a solar company since putting up a solar system yourself can be a time-consuming project. Another perk of going with a solar company is that they can help you optimize your investment by bringing down your future costs of repairs and replacements because of warranties and informing you of local incentives you can take advantage of.
You can work with a local solar installer to get a free quote on how much solar panels could cost for your home. Here are some in Northbrook:
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 Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
See all of the solar companies in Northbrook
Factors that Affect Solar Panel Costs in Northbrook
Although the average cost of a solar system in Northbrook is $17,636, your final cost may be higher or lower than that. There are quite a few factors that can have a significant impact on the cost of a solar panel installation. Below are some of the more crucial things to keep in mind.
Solar Equipment
One of the most important factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more power your household consumes, the larger your system will likely need to be. You can expect to spend about $3,410 per kilowatt in Northbrook.There are many different solar panel brands and the one you choose also changes the cost. In general, the brands that have better efficiency tend to also cost more. Additionally, the type of equipment you’re looking to install can affect your total cost. If you only need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Solar panels can save you money on energy bills over time, but they can also be a big investment. That’s why many Northbrook homeowners decide to finance their solar panel systems to make paying for solar more affordable.It’s wise to factor the interest you’ll pay in your final cost estimate. If you can afford to pay a higher down payment, you can reduce your total costs and how long it’ll take to pay off the loan.
Solar Panel Installation Company
Finally, the company you opt for to install your solar panels can play a part in determining your pricing. Northbrook’s solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Northbrook have more knowledge about local solar incentives and can help you learn about additional rebates or tax exemptions. Though, they may charge more for that service. Even if they cost more upfront, they could end up saving you 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 | $3.55 | $14,895 | $8,051 | 16.2 years |
| 8 kW | $3.48 | $19,478 | $11,116 | 15.9 years |
| 10 kW | $3.41 | $23,870 | $14,373 | 15.6 years |
| 12 kW | $3.34 | $28,071 | $17,820 | 15.3 years |
| 14 kW | $3.27 | $32,081 | $21,459 | 15.0 years |
| 16 kW | $3.21 | $35,900 | $25,288 | 14.7 years |
| 18 kW | $3.14 | $39,529 | $29,309 | 14.4 years |
| 20 kW | $3.07 | $42,966 | $33,520 | 14.0 years |
How to Save on Solar Panels
Since the type of solar panels and the installer you choose considerably affects your costs and your system’s durability and efficiency, it’s important to select the right ones for you. Here are some tips to keep in mind to help with your decision:
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a good reputation and is qualified to install your solar system. Another way you can check your installer’s reputation is by reading reviews.
- Solar Panel Brands: Different companies have different brands and models of panels. If you prefer a specific brand, make sure the solar installer you’re considering has it.
- Contract: When reading over your solar company’s contract, ask questions about any terms you’re not sure of and make sure you understand what happens in scenarios like a system component breaking or if the company goes out of business.
- Warranty: A high-quality company stands out from other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
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 Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
EcoWatch's Northbrook, OH Solar Cost FAQs
How much does it cost to install solar panels in Northbrook?
This is a tough question to answer precisely, because the cost depends on a few different factors. Generally speaking, it costs about $17,050 for a 5-kW system and $34,100 for a 10-kW system after the ITC is applied. It will cost more if you want additional solar equipment or more efficient panels, or if you have above-average energy consumption. On the flip side, you can spend less if you opt for a smaller solar panel system or less efficient solar panels.
Should I lease or buy solar panels in Northbrook?
Leasing solar panels can be an option if you are unable to pay upfront or secure a solar loan, but since you don’t own the system, you can’t take advantage of many solar incentives. Also your home 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 savings from going solar.
Do solar panels increase the value of your home?
Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Northbrook is currently $216,098, which means you can expect a value of about $8,860 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Northbrook is a rewarding investment.
How often do you have to replace solar panels?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is their energy production will have decreased significantly after that point. You can decide to replace them after having them for that long or you can keep using them at a lower efficiency.
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.