Solar Panel Cost Guide in Coralville, IA (2023 Update)
- Coralville Solar Installation Cost: $18,692
- 25-Year Savings: $25,243
- Payback Period: 10.6 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Coralville
We break down average solar pricing in Coralville.
The average cost of a solar panel system in Coralville is 2.77 per watt. Since a 9.6-kW system is needed to cover the energy needs of a typical home in Coralville, the average price of going solar will be about $18,692 after claiming the federal solar tax credit of 30%.
The true cost of your system can be above or below the average in Coralville depending on several factors, such as the model of solar panels you choose and the solar contractor you hire. For many homeowners, the upfront investment in solar panels is worth paying. On average Coralville homeowners see about $17,000 in savings on electricity bills over 20 years.
For a free quote from a local solar installer that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Coralville
| Year | Return on Investment |
|---|---|
| 1 years | $-16,935 |
| 3 years | $-13,420 |
| 5 years | $-9,905 |
| 7 years | $-6,390 |
| 9 years | $-2,875 |
| 11 years | $639 |
| 13 years | $4,154 |
| 15 years | $7,669 |
| 17 years | $11,184 |
| 19 years | $14,698 |
| 21 years | $18,213 |
| 23 years | $21,728 |
| 25 years | $25,243 |
Top Solar Installers in Coralville
Many homeowners opt for a solar panel company since trying to install solar panels yourself can be hard. Another great thing about using a vetted solar installer is that it'll likely provide warranties and free repairs, which help protect your solar system over time.
You can work with a local solar installer to get a free estimate on the cost of solar panels for your home. Here are some near you:
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
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 Coralville
Factors that Affect Solar Panel Costs in Coralville
There are several criteria that can play into your solar panel installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that performs the installation.
Solar Equipment
The size of the solar system you need for your household, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, your total will most likely increase by around $2,770. Some solar brands — like Maxeon from SunPower — are more costly upfront but also tend to offer better efficiency. In a city like Coralville, where sunlight is relatively abundant, efficiency can quickly pay off. In addition, if you have a small roof or you don't have a lot of space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Coralville to be prohibitively steep, even if the investment pays off over time. Thankfully, almost every solar installer in the area provides financing options. Solar loans remarkably decrease upfront costs for most homeowners, but they also result in paying more over time because of interest. When considering your overall cost, you should also calculate the interest you'll pay if you choose to go with a solar loan. Also, paying more upfront can reduce the total interest paid over time.
Solar Panel Installation Company
The remaining significant cost factor you should take into consideration is the installer you choose. Given the booming popularity of clean energy solutions in Coralville, you'll have a great number of options to choose from, but each comes at varying price points for labor and equipment. Additionally, some companies in Coralville have more knowledge about local solar incentives and can help you make good use of additional rebates or tax exemptions. However, they may charge more for that service. Even if they cost more upfront, they could help you save 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 | $2.88 | $12,099 | $15,252 | 11.1 years |
| 8 kW | $2.83 | $15,822 | $20,646 | 10.8 years |
| 10 kW | $2.77 | $19,390 | $26,195 | 10.6 years |
| 12 kW | $2.71 | $22,803 | $31,900 | 10.4 years |
| 14 kW | $2.66 | $26,060 | $37,759 | 10.2 years |
| 16 kW | $2.60 | $29,163 | $43,774 | 10.0 years |
| 18 kW | $2.55 | $32,110 | $49,943 | 9.8 years |
| 20 kW | $2.49 | $34,902 | $56,268 | 9.6 years |
How to Save on Solar Panels
Since the kind of solar panels and the installation company you choose has an impact on your costs and your system's efficiency, production, and durability, it's important to select the right ones for you. Here are some tips to keep in mind to help with your decision:
- Solar Panel Brands: Not all solar installers have the same brands of solar panels, so the brand and type of panel you want can play a significant role in the company you opt for.
- Contract: When reading over your solar installer's contract, ask for clarification about any terms you're not sure of and be sure you understand what happens in scenarios like a system component breaking or the company going out of business.
- Installation Process: Homeowners should make sure they understand how exactly the installation process will be carried out, as well as important factors like the completion timeline.
- Warranty: Companies typically offer different kinds of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
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 Coralville, IA Solar Cost FAQs
How much does it cost to install solar panels in Coralville?
The average cost of solar panels in Coralville is about $13,850 for a 5-kW system and $27,700 for a 10-kW system before the ITC, but the real cost will depend on stuff such as the type of solar panels you want, what size system you need and how much energy you consume.
What other factors should I consider apart from cost when buying solar panels?
The upfront cost is a crucial factor to consider, but whether it's the most important for you depends on why you decided to go solar. In cities where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to consider are the quality and durability of your solar panels.
Is it worth going solar in Coralville?
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.
How long do solar panels last in Coralville?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger amount of energy production.
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.