Solar Panel Cost Guide in Boone, IA (2023 Update)
- Boone Solar Installation Cost: $18,538
- 25-Year Savings: $31,211
- Payback Period: 9.3 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Boone
Find out how much it might cost to go solar in Boone.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Boone, the typical cost of a solar system is 2.77 per watt. Using this figure, a typical 9.6-kW system would cost about $18,537 before the 30% federal solar tax credit is applied.
These figures are only averages, and the cost of going solar for you will most likely differ based on your energy needs and what company you want to go with. But, after you've paid the initial cost of installation, the ROI for most homeowners is quite fruitful, with a net average savings of about $20,000 over 20 years on electricity bills.
To get a free quote from a top solar company in Boone, you can click the button below.
Solar savings over time in Boone
| Year | Return on Investment |
|---|---|
| 1 years | $-16,821 |
| 3 years | $-13,388 |
| 5 years | $-9,955 |
| 7 years | $-6,522 |
| 9 years | $-3,089 |
| 11 years | $344 |
| 13 years | $3,777 |
| 15 years | $7,210 |
| 17 years | $10,643 |
| 19 years | $14,076 |
| 21 years | $17,509 |
| 23 years | $20,942 |
| 25 years | $24,375 |
Top Solar Installers in Boone
DIY solar panel installation is a possibility, but it's an undertaking that can be a pain. Taking advantage of a solar panel installer can make your switch to solar power much easier. Plus, if you aren't sure what brand of solar panels and equipment you need, a solar expert can help you figure that out after a site survey and consultation.
There are several licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
See all of the solar companies in Boone
Factors that Affect Solar Panel Costs in Boone
Cost is typically one of the most important factors for homeowners considering investing in solar. There are a few primary factors that determine your overall cost in Boone: solar equipment and system size, financing options and the solar installation company you choose. We'll go over each of these briefly below.
Solar Equipment
When it comes to estimating the cost of a solar energy system in Boone, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are mainly based on your home's energy usage, which you can gauge by looking at past power bills. Your overall cost can increase by about $2,770 for each additional kilowatt you need. The type of solar panels and equipment you want is another factor that will largely affect costs. Solar panels that are more efficient, like monocrystalline panels, tend to be more expensive. Furthermore, solar equipment consists of more than just the solar panels themselves. You'll also need to consider the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when researching a solar system that falls within your budget.
Solar Financing Terms
If paying for solar panels in cash is difficult, solar loans are an affordable route because they reduce your upfront costs and let you pay for your system over five to seven years on average. It's a good idea to include the interest you'll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and how long it'll take to pay back the loan.
Solar Panel Installation Company
The solar company you choose will play a role in your total cost to make the switch to solar . Different companies will bill different amounts for the equipment and labor. You may notice national solar installers that have lower prices because of their larger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or specials to compete with those larger companies.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $2.88 | $12,099 | $19,122 | 9.7 years |
| 8 kW | $2.83 | $15,822 | $25,806 | 9.5 years |
| 10 kW | $2.77 | $19,390 | $32,645 | 9.3 years |
| 12 kW | $2.71 | $22,803 | $39,640 | 9.1 years |
| 14 kW | $2.66 | $26,060 | $46,789 | 8.9 years |
| 16 kW | $2.60 | $29,163 | $54,094 | 8.8 years |
| 18 kW | $2.55 | $32,110 | $61,554 | 8.6 years |
| 20 kW | $2.49 | $34,902 | $69,169 | 8.4 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you pick the right company for you, here are some tips to keep in mind:
- Warranty: Many companies offer different kinds of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Solar Panel Brands: Each solar panel brand and model has varying levels of quality, durability and efficiency. They will come at different price points as well. The company you choose impacts which solar panel brands you have access to.
- Reputation: Solar companies that have great reviews from their customers and that have been operating for many years in most cases offer good-quality solar panel installation and expertise.
- Contract: It's important to look over your solar installer's contract well to understand what services they will provide, what the warranty covers and what expectations you should have about the cost.
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
EcoWatch's Boone, IA Solar Cost FAQs
What is the average cost of installing solar panels in Boone?
This is a tough question to answer exactly, because the cost depends on a variety of factors. Broadly speaking, it costs about $13,850 for a 5-kW system and $27,700 for a 10-kW system after the ITC is applied. You can expect to pay more if you want additional solar equipment or higher quality panels, or if you have above-average energy needs. On the other hand, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.
Are solar panels free in Boone?
You can't get solar panels for free in Boone. However, you may still be able to install them on a lower budget. You can lease solar panels for a low upfront cost or, if you'd prefer to own your solar panels, you can finance them with a solar loan.
Can solar panels completely eradicate my power bills?
It is possible to eliminate your electricity bills with solar panels, but for most homeowners throughout Boone, that will require at least a 10-kW system. Not all homes will have the roof space for that size system, so you'll want to contact a local solar installer to see how many panels can fit on your roof.
How many solar panels do I need to power my home?
The exact number of solar panels you need depends on your household energy usage and the average daily sunlight your roof gets. You can look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to get between 20 and 35 panels to cover their typical energy usage.
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.