The cost of solar panels in Island Lake, IL

Updated Jan 18, 2024

  • You'll pay an average of $15,950 to install a 5 kilowatt solar panel system in Island Lake, IL, before incentives.

  • The federal investment tax credit (ITC) lowers that price by 30% of all your solar equipment and installation costs.

  • With EnergySage's competitive marketplace, you can expect to see prices up to 20% lower than if you work with a single company.

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Written by: Emily Walker

As of February 2024, the average solar panel system costs $3.19/W including installation in Island Lake, IL. For a 5 kW installation, this comes out to about $15,950 before incentives, though prices range from $13,558 to $18,342. After the federal tax credit, the average price drops by 30%.

Average price of a 5 kW solar panel installation in Island Lake, IL

Good Price
$13,558 or less
Market Average
$15,950
High Price
$18,342 or more

You'll probably pay even less than what we show here. It doesn't include the federal ITC or Island Lake, IL state incentives, which will lower this price by at least a few thousand dollars.

Your solar panel cost depends on your system's size

It may seem obvious but larger solar panel systems cost more money. We use cost per watt ($/W) so you can easily compare quotes, controlling for slight variations in system size.

While a 5 kW system will only cost you $15,950 in Island Lake, IL, doubling the system size effectively doubles the price, so you'll pay about twice that for a 10 kW system. The higher the price tag, though, the more you'll get back as a credit towards your federal tax bill.

Average solar cost by system size in Island Lake, IL

System Size
System Cost
System Cost (after ITC)
3 kW$9,570$6,699
4 kW$12,760$8,932
5 kW$15,950$11,165
6 kW$19,140$13,398
7 kW$22,330$15,631
8 kW$25,520$17,864
9 kW$28,710$20,097
10 kW$31,900$22,330

Are solar panels worth it in Island Lake, IL?

Solar panels are worth it in most areas, including Island Lake, IL. Certain factors, including the cost of electricity, incentives, climate, and the angle at which the sun hits your roof impact how quickly you break even on your investment relative to other areas around the U.S. 

If you pay for your system with cash, you'll save about $53,109 over 20 years on electricity costs with a 5 kW system in Island Lake, IL. We generate this estimate based on real solar quote data from our Marketplace. It considers your system's cost, the federal tax credit, and inflation rates.

Payback Period
5.22 Years
20-Year Savings
$53,109
Cost-per-Watt
$3.19

If you can't shell out $15,950 in cash to pay for solar, don't sweat it. You can choose to finance your system with a loan instead. Some companies even offer $0-down loans so you can start saving on day one if your loan payments are less than your current electric bills. Just keep in mind that your long-term savings will be lower with a loan due to interest rates.

Find out what solar panels cost in your area in 2024
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The numbers we're showing are averages. The price you'll pay for solar depends on many factors unique to you and your home:

If you're looking for solar companies in IL, here are some popular suggestions:

  • RxSun
    Wilmette, IL
    Elite Installer
    RxSun is your prescription for an affordable, clean energy future!

    We're a down-to-earth crew of electricians and ...
    Elite Installer
    Screened & Verified
    5.0 /5.0
    34 Reviews

    RxSun is your prescription for an affordable, clean energy future!

    We're a down-to-earth crew of electricians and ...
  • Windfree Solar
    Chicago, IL
    Established 2009
    Elite Installer
    Windfree Solar is the answer if you are looking for solar expertise and individual care. We are the company that ...
    Elite Installer
    Screened & Verified
    4.5 /5.0
    26 Reviews

    Windfree Solar is the answer if you are looking for solar expertise and individual care. We are the company that ...
  • Sige Solar
    Park Ridge, IL
    Established 2015
    Approved Installer
    Sige Solar is a growing company, with all you need. We take care of your solar system from start to finish, ever...
    Approved Installer
    Screened & Verified
    5.0 /5.0
    4 Reviews

    Sige Solar is a growing company, with all you need. We take care of your solar system from start to finish, ever...
  • FreeWorld Solar
    Chicago, IL
    Approved Installer
    FreeWorld Solar is a 'relationship-focused' developer of home solar projects. We help homeowners gain independenc...
    Approved Installer
    Screened & Verified
    5.0 /5.0
    3 Reviews

    FreeWorld Solar is a 'relationship-focused' developer of home solar projects. We help homeowners gain independenc...
  • Titan Solar Power
    Joliet, IL
    Approved Installer
    For many families, solar can be a “no brainer.” Here at Titan Solar Power, we are setting the standards for the r...
    Approved Installer
    Screened & Verified
    4.0 /5.0
    76 Reviews

    For many families, solar can be a “no brainer.” Here at Titan Solar Power, we are setting the standards for the r...

Solar is a major purchase, but you can get the price tag to come down a bit by being an educated shopper. Taking advantage of incentives and rebates and shopping around for quotes can bring down your cost of solar in Island Lake, IL.

Take advantage of federal and local solar incentives

As long as your federal tax bill is high enough, you can take advantage of the federal tax credit in Island Lake, IL. This incentive allows you to apply 30% of your solar installation and equipment costs toward your federal tax bill. If the amount exceeds your tax bill, you can roll over the remaining credit to the following year. Many states also offer great local incentives and rebates.

Get quotes from multiple installers

Comparing multiple solar quotes can save you money through competition and transparency. Each additional quote you receive for solar will help you find the right solar panel system at the right price.

This is where EnergySage can help. With funding from the Department of Energy’s SunShot Prize, EnergySage opened the country’s first (and now the largest) marketplace for home solar panel installations. We gather custom solar quotes from local installers on your behalf and put them in an easy-to-compare format. When you compare quotes for solar panels on the EnergySage Marketplace, you can expect to see prices up to 20% lower than if you work with a single solar company.

Why shop with EnergySage?

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