Solar Panel Cost Guide in Oak Park, CA (2024 Update)
- Oak Park Solar Installation Cost: $6,958
- 25-Year Savings: $13,295
- Payback Period: 9.3 Years
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Average Cost of Solar Panels in Oak Park
Let’s take a look at the average cost of solar in Oak Park.
In Oak Park, solar panels cost about 3 per watt on average.To cover the typical energy needs of the average home in Oak Park, most homeowners require a 2.9-kilowatt system. Using the figure above, a solar installation costs about $6,958, or $9,950 before the federal solar tax credit of 0 is applied.
These figures are only estimates, and your own solar costs will look different based on factors unique to your home and what company you want to go with.But, after you've paid the initial cost of installation, the savings for most homeowners is typically rewarding, with a net average savings of about $25,000 over 20 years on power bills.
For a free quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Oak Park
| Year | Return on Investment |
|---|---|
| 1 years | $-5,773 |
| 3 years | $-3,403 |
| 5 years | $-1,034 |
| 7 years | $1,336 |
| 9 years | $3,705 |
| 11 years | $6,075 |
| 13 years | $8,444 |
| 15 years | $10,814 |
| 17 years | $13,183 |
| 19 years | $15,553 |
| 21 years | $17,922 |
| 23 years | $20,292 |
| 25 years | $22,661 |
Top Solar Installers in Oak Park
Although you can install solar panels by yourself, it requires extra time and handiness. Because of that, most people choose to hire a solar panel installer. Another perk of going with a solar installer is that they can help you optimize your ROI by lowering your future costs of repairs and replacements due to warranties and informing you of local incentives you can take advantage of.
If you're looking for a solar company in Oak Park, we've organized a list of our top suggestions here:
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
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 Oak Park
Factors that Affect Solar Panel Costs in Oak Park
Cost is typically one of the most important factors for homeowners considering investing in solar. There are a few key factors that determine your overall cost in Oak Park: solar equipment and system size, financing options and the solar installation company you choose. We’ll discuss each of these briefly below.
Solar Equipment
When it comes to estimating the cost of solar panels in Oak Park, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home’s energy consumption, which you can figure out by looking at past energy bills. Your total cost can increase by around $3,470 for each additional kilowatt you need.The kind of solar panels and equipment you get is another factor that will considerably impact costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to cost more. 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 searching for a solar system that falls within your budget.
Solar Financing Terms
Many homeowners find the average cost of solar in Oak Park to be too costly, even if the investment pays off over time. Thankfully, almost every solar installer in the area provides access to financing options. Solar loans drastically decrease upfront costs in most cases, but they also result in paying more over time because of interest.It’s a good idea to add the interest you’ll pay in your final cost estimate. If you can afford to pay a larger down payment, you can reduce your total costs and how long it’ll take to pay off the loan.
Solar Panel Installation Company
The solar installation company you pick will impact your total cost to adopt solar power. Different companies will charge different amounts for the equipment and labor.Additionally, some companies in Oak Park are more knowledgeable about local solar incentives and can help you take advantage of 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 | $3.61 | $15,157 | $24,158 | 9.6 years |
| 8 kW | $3.54 | $19,821 | $32,600 | 9.5 years |
| 10 kW | $3.47 | $24,290 | $41,236 | 9.3 years |
| 12 kW | $3.40 | $28,565 | $50,066 | 9.1 years |
| 14 kW | $3.33 | $32,646 | $59,090 | 8.9 years |
| 16 kW | $3.26 | $36,532 | $68,309 | 8.7 years |
| 18 kW | $3.19 | $40,224 | $77,722 | 8.5 years |
| 20 kW | $3.12 | $43,722 | $87,329 | 8.3 years |
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Because picking a company can be a tough decision, we have some tips to help you, such as:
- Installation Process: When making the switch to solar energy, it’s important to maintain an open line of communication with your solar panel company. Confirm that you understand how the installation process will go and the completion timeline.
- Contract: Review the contract terms carefully to make sure you understand how much it will cost, project completion timeline incentives and warranties.
- Warranty: Warranties that cover replacement parts and repairs over a couple decades are the gold standard in the business, and offering that kind of warranty is one sign of a quality company.
- Solar Panel Brands: The model of solar panel you want to get plays a role in which installer you should go with, since different companies have different panels.
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
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 Oak Park, CA Solar Cost FAQs
What is the average cost of installing solar panels in Oak Park?
This is a hard question to answer precisely, because the cost depends on a few different factors. Broadly speaking, it costs about $17,350 for a 5-kW system and $34,700 for a 10-kW system after the ITC is applied. You can expect to pay more if you want extra solar equipment or higher quality panels, or if you have higher-than-average energy needs. On the other hand, you can spend less if you choose a smaller solar panel system or less expensive solar panels.
Should I lease or buy solar panels in Oak Park?
Leasing solar panels can be an attractive choice, as it commonly comes with low or $0 upfront payments. The downside is that you won’t be able to save as much. If you lease, you don’t own the system, so you can’t claim any tax rebates and credits and your home value won’t increase. Buying solar panels is a better option if you want to get the most savings.
Is it worth going solar in Oak Park?
Whether or not solar panels are worth it depends on some different factors like the cost of electricity near you and how much direct sunlight your roof gets.
What solar power system size is right for my home?
To figure out what solar panel system size you need, you need to know how much energy your home requires 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 home 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.