Solar Panel Cost Guide in Coralville, IA (2024 Update)
- Coralville Solar Installation Cost: $27,053
- 25-Year Savings: $25,247
- Payback Period: 15.4 Years
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Average Cost of Solar Panels in Coralville
Let’s take a look at the average cost of solar in Coralville.
The average cost of a solar system in Coralville is 4 per watt.Using this figure, a typical 9.6-kW system would cost about $27,053 before the 0 federal solar tax credit is applied.
Remember that the numbers above are only averages. The price you’ll pay for solar may look quite different based on your household energy needs, the type of solar panels you choose, your solar contractor and more.But, after you've paid the upfront cost of installation, the return on investment for most homeowners is usually good, with a net average savings of about $17,000 over 20 years on energy bills.
To calculate your potential ROI and connect with a local solar company, click the button below.
Solar savings over time in Coralville
| Year | Return on Investment |
|---|---|
| 1 years | $-25,596 |
| 3 years | $-22,682 |
| 5 years | $-19,768 |
| 7 years | $-16,854 |
| 9 years | $-13,940 |
| 11 years | $-11,026 |
| 13 years | $-8,112 |
| 15 years | $-5,198 |
| 17 years | $-2,284 |
| 19 years | $631 |
| 21 years | $3,545 |
| 23 years | $6,459 |
| 25 years | $9,373 |
Top Solar Installers in Coralville
When switching to solar energy, many homeowners prefer to use a solar installer since overseeing your solar installation yourself can be a challenging project. Plus, if you’re not certain what kind of solar panels and equipment you want, a solar expert can help you find the right equipment for you after a site survey and consultation.
Working with a professional solar installer can help you make the most of your investment in solar. Here are our recommendations:
See all of the solar companies in Coralville
Factors that Affect Solar Panel Costs in Coralville
Even though the average cost of a solar system in Coralville is $27,053, your actual cost may be above or below the average. There are several factors that can have a sizable impact on the cost of a solar panel installation. Below are some of the more crucial things to take into consideration.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of installing solar panels. For that reason, it’s a priority to accurately gauge the size of the solar energy system needed for your home by figuring out your typical energy use.There are a lot of different solar panel brands and the one you pick also changes the cost. Usually, the brands that offer higher efficiency tend to also be more expensive. In addition, the type of equipment you choose can affect your total cost. If you just need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Solar panels can save you money on power bills over time, but they can also be a significant investment. That’s why many Coralville homeowners opt to finance their solar panel systems to offset upfront costs.However, the interest on solar loans also increases your overall costs, so it’s crucial to keep that in mind as well. You can always reduce the total you pay in interest and sometimes even your APR by making a larger down payment.
Solar Panel Installation Company
The last key cost factor you should keep in mind is the installer you choose. Given the booming popularity of sustainable energy solutions in Coralville, you’ll have lots of options to choose from, but each comes at varying price points for labor and equipment.You may notice national solar installers that have lower prices due to their larger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or promotions to compete with those major players.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $4.17 | $17,516 | $9,835 | 16.0 years |
| 8 kW | $4.09 | $22,905 | $13,563 | 15.7 years |
| 10 kW | $4.01 | $28,070 | $17,515 | 15.4 years |
| 12 kW | $3.93 | $33,010 | $21,692 | 15.1 years |
| 14 kW | $3.85 | $37,726 | $26,093 | 14.8 years |
| 16 kW | $3.77 | $42,217 | $30,719 | 14.5 years |
| 18 kW | $3.69 | $46,484 | $35,569 | 14.2 years |
| 20 kW | $3.61 | $50,526 | $40,644 | 13.9 years |
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Because choosing a company can be difficult, we have some tips to help you, such as:
- Solar Panel Brands: Different companies will have various brands and types of panels. If you prefer a specific brand, make sure the solar installer you’re considering has it.
- Installation Process: Homeowners should make sure they understand how exactly the installation process will be carried out, as well as important factors like the project completion timeline.
- Contract: Although reading through a contract can be tedious, it’s important to do it carefully so you can make sure you understand what services your solar company will provide and how part repairs and replacements will be handled.
- Warranty: Each company may offer different kinds of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
EcoWatch's Coralville, IA Solar Cost FAQs
How much does it cost to install solar panels in Coralville?
This is a tough question to answer exactly, because the cost depends on many factors. Broadly speaking, it costs about $20,050 for a 5-kW system and $40,100 for a 10-kW system after the ITC is applied. You can expect to pay more if you want other solar equipment or higher quality panels, or if you have higher-than-average energy consumption. On the flip side, you can spend less if you choose a smaller solar panel system or less expensive solar panels.
Are solar panels free in Coralville?
A solar panel system isn’t free in Coralville, but there are some options that can make getting them more affordable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can further reduce the cost.
Is it worth going solar in Coralville?
Solar panels can be a good investment for a majority of homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your electricity bills are already pretty low, solar panels might not be for you.
How long do solar panels last in Coralville?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is how much energy they produce will have decreased significantly after that point. You can opt to replace them once you've had them for that long or you can keep using them at a lower efficiency.
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.