Solar Panel Cost in Mount Prospect

How To Determine the Best Solar Companies in Mount Prospect

The sooner you decide to go green, the faster you’ll be able to save on electricity bills and help our planet’s atmosphere.

When choosing among solar installers in Mount Prospect, IL, you have to consider the overall characteristics and capabilities of solar energy companies, their experience in local solar installation, and their compliance with your specific needs. Go through the following details to sort out the best solar companies in Mount Prospect:

  • Specialties of the company: The best solar providers offer a complete set of solar services, from preparing the roof for solar installation in Mount Prospect, IL, to guiding you through the legal technicalities to regular solar maintenance. 
  • The service area: Some solar installers cover several or even most states, while others operate in small regions. Focusing on Mount Prospect solar installations may indicate that the business values reputation in the local community, while large enterprises may offer access to the latest solar technologies and products.
  • Certifications: Top solar installers must satisfy particular industry standards and have certificates that signify that. For instance, the North American Board of Certified Energy Practitioners (NABCEP) certificate is widely recognized as the industry gold standard.
  • Pricing policy: Solar installers may offer packages or discounts on their services. For example, you may come across Mount Prospect, IL, solar power companies with service packages that perfectly address your needs, or larger firms that offer discounts for solar installations in Mount Prospect, IL, during a specific season.
  • Ratings: The official website and company representatives may tell you what the company does or at least what it promises to do. On the other hand, ratings and reviews reflect customer satisfaction with the quality of solar panels and other aspects, such as clear communication and timely installation.

How Much Do Solar Panels Cost in Mount Prospect, IL?

The price per installation of solar panels is typically calculated using the price per watt and required solar system power. For example, the national average solar price per watt was $2.68 in 2023. For an average U.S. household that consumes about 10,500 kilowatt-hours per year, a 7.5 kW (7,500 watts) solar system could be sufficient to supply electricity given the ideal circumstances.

Given this data, the average price for a solar system that is enough for an average U.S. household is $20,100. With the Mount Prospect solar incentives reduction to your federal tax liability by 30%, it comes down to $14,070.

Residents of Mount Prospect can expect to pay an average of $3.61 per watt for solar systems, which is the Illinois state average. With the previously applied formula, the average cost of a solar panel system is calculated to be $27,075, which drops to $18,925 after accounting for the federal tax credit.

Average Solar Systems Prices in Mount Prospect, IL

System Size (kW) Price Before Tax Credit ($) Price With Tax Credit ($)
5.0 18,050 12,635
7.5 27,075 18,925
10.0 36,100 25,270
12 43,320 30,324

What Are the Best Solar Installers in Mount Prospect, IL?

While many solar companies are operating in Mount Prospect, IL., consider the following providers verified by our specialists.

Company Area of operation  Description 
SunPower by Legacy Solar IL, IA, MO The company with a long history in the sales, design, and service of solar systems. It provides comprehensive solar solutions for homes and businesses.
Solar Panther IL Although less experienced, this company is rapidly gaining popularity in Illinois. It offers high-quality solar panel installation in Mount Prospect, IL, and energy solutions at competitive prices.
EFS Energy MO, IL This experienced solar contractor provides full-cycle installation services, offers individual solar services, and gives discounts for upfront payments and referrals.

What Factors Influence the Cost of Solar Panels in Mount Prospect, IL?

For Mount Prospect residents who are thinking about buying solar panel systems and want to estimate their price, it’s advisable to consider several factors.

The more energy their households consume, the larger and more expensive solar power systems they require. Additionally, if household owners want solar energy to cover all their power needs, even during nighttime, the solar systems must be equipped with energy storage units, requiring additional investment.

The average solar system price in Mount Prospect, IL, is $3.61 per watt, which is above the average in many states. However, the installation price partially depends on the increased benefits that solar power provides in this area, which in turn increases the demand for solar panel installers in Mount Prospect. Additionally, the 30% tax return is the same as in the rest of the country, minifying the cost gap.

Finally, the specifics of your home, such as roof type and angle and any surrounding objects that may block the sunlight, can impact the complexity of the solar system and its cost.

Are Solar Panels Worth It in Mount Prospect, IL?

Given that the price for electrical energy in Illinois is above average at 12.56¢ / kWh, and the energy consumption in the Midwest states is among the highest in the country, investing in solar energy in Mount Prospect proves to be a wise decision.

Energy consumption per household in U.S. regions
Source: EIA
To predict your payback and profit, let’s imagine you bought a solar system for $18,925, succeeded in offsetting all your energy usage, and thus eliminated your annual electricity cost. That cost would otherwise be $1,306.24 yearly based on consuming 10,400 kWh with the cost of 12.56¢/kWh. Then, your payback period would be approximately 14.5 years. This means you would start saving money after this period, enjoying free energy from your solar system onward. ​​

Mount Prospect residents enjoy sunlight throughout most of the year and can surely use it to power their households. By the way, the rate of return typically provided by solar systems is often higher than other investment types, including the stock market.

Should You Choose a Local or National Solar Installers in Mount Prospect?

When deciding between local and national solar providers for your solar project in Mount Prospect, consider the pros and cons of both options.

On the one hand, national installers may showcase more experience in the solar industry and have overall ratings by customers. You may also feel more confident about their warranties and long-term commitments. However, their solar installation services may lack a personal approach, and they may turn to subcontractors, which can lead to an increase in price and a decrease in quality.

On the other hand, local Mount Prospect solar companies may have a deeper knowledge of local regulations and offer a more personal approach and attention to detail. At the same time, they may have a limited selection of solar panel products and technologies.