Solar Panels Cost $2.6k-$13k in Wood Dale, IL | October, 2024

Electricity Costs in Wood Dale, IL & What that Means for Your Solar Panel Pricing

Energy consumers in Wood Dale usually pay $114.22 per month for electricity, with a typical monthly usage of601 kWh. This statistic also reflects data from apartments and smaller housing units, which typically use less energy consumption.

In October 2024, the electricity rate in Wood Dale, IL is on average 18.99¢ per kWh.

Average citizens in Wood Dale may need a solar power system with a capacity of 5 kW or more to take care of their entire electricity usage requirements. Right now, a 5 kW setup will cost around $19,100 upfront, with the 30% federal tax credit, the cost lowers to $13,370.

Are solar panels worth it in Illinois?

For homeowners in Wood Dale who expect to stay in their residence beyond the solar payback period, solar panels make an excellent investment. A 5 kW solar system in Wood Dale, IL might save you an average of $14,042.8 over 20 years, with the break even point typically being 10 years.

The cost of not having solar panels in Wood Dale, IL

In addition to forgoing the savings, the absence of solar panels or another backup energy source results in full dependence on your electric utility for your power needs. The news has recently pointed out that total reliance on your utility is not always ideal.

Annually, customers in Wood Dale have encountered approximately 0.59 utility outages.Yearly, customers in Wood Dale have encountered approximately 0.59 utility outages. On average, the length of an outage is 48.99 minutes. Major events like grid management errors, earthquakes or construction accidents can cause these durations to rise considerably.

A solar panel system, with or without a backup battery, could help mitigate the effects of future outages you might face.

What impacts the cost of solar panels in Wood Dale, IL?

Your Energy Needs - While the upfront cost is greater, the price per watt decreases with larger solar panel systems. Homeowners often discover that setting up a solar system to fully cover their electric bill is a smart choice, leading to the most savings.

Make & Model - Similar to other products, solar panels come in a range of makes and models. Considering the brand preferences that your installer may have, it's crucial to pick a recommended contractor. The employment of high-quality materials is likely to yield a more positive long-term experience for buyers.

Solar Panel Type - It's clear why monocrystalline panels are now the standard in the industry. These panels cost more but yield more energy. Many installers in the industry utilize panels constructed from this material.

Your Property - Each property and residence is unique. Issues like trees, irregular terrain, or additional considerations may add to the complexity of the installation. Most solar installers currently use satellite imagery to assess your home and factor in these considerations into the preliminary cost estimate.

Labor Rates - Differences in employee wages across companies result in expenses that are transferred to the consumers. Reviews for work and customer service are frequently higher for businesses that pay higher wages.

Permitting & Interconnection - The local permitting and utility interconnection fees, which differ by region, will impact your final installation price. Quality installers will factor these costs into your first quotes to prevent unexpected expenses.