Solar Panel Cost Guide in Eldridge, IA (2023 Update)
- Eldridge Solar Installation Cost: $18,717
- 25-Year Savings: $22,376
- Payback Period: 11.4 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Eldridge
Find out how much it might cost to make the switch to solar in Eldridge.
The national average cost of solar panels is $2.66 per watt, but in Eldridge it's 2.77 per watt. To account for the typical energy needs of the average home in Eldridge, most homeowners require a 9.7-kilowatt system. Using the figure above, a solar installation costs about $18,711, or $26,757 before the federal solar tax credit of 30% is applied.
The prices above are just estimates to give you an idea of the cost of a solar energy system. The true cost of going solar can vary quite a bit based on several factors, such as how many panels you need, your energy usage and what company you go with. Even with the significant initial cost, the average Eldridge homeowner can save around $16,000 on their power bills over 20 years, which is one of the perks of solar.
To calculate your potential savings and connect with a local solar expert, click the button below.
Solar savings over time in Eldridge
| Year | Return on Investment |
|---|---|
| 1 years | $-18,580 |
| 3 years | $-18,306 |
| 5 years | $-18,032 |
| 7 years | $-17,758 |
| 9 years | $-17,484 |
| 11 years | $-17,210 |
| 13 years | $-16,936 |
| 15 years | $-16,662 |
| 17 years | $-16,388 |
| 19 years | $-16,114 |
| 21 years | $-15,840 |
| 23 years | $-15,566 |
| 25 years | $-15,293 |
Top Solar Installers in Eldridge
Although you can install solar panels yourself, it involves extra energy and know-how. Because of that, almost all homeowners choose a solar panel installer. A solar installer can also help save you money over the lifespan of your system by providing warranties, repairs and system component replacements.
You can get a free estimate from a local solar installer on the cost of solar panels for your home. Here are some near you:
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 Eldridge
Factors that Affect Solar Panel Costs in Eldridge
The cost of installing a solar system in Eldridge can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The most significant one is your system size, and other factors include the equipment you choose, financing options and the solar company you choose.
Solar Equipment
When it comes to estimating the cost of a solar system in Eldridge, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home's energy usage, which you can determine by looking at past power bills. Your overall cost can increase by around $2,770 for each additional kilowatt you need. The brand and type of equipment you choose for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often come at a higher price than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have limited roof space or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to more savings over time. Also, if you want extra equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
If paying for solar panels in cash is too expensive, 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. However, the interest on solar loans also adds to your total costs, so it's crucial to include that in your estimate as well. You can always bring down the total you pay in interest and sometimes even your APR by making a larger down payment.
Solar Panel Installation Company
The solar panel installer you choose will impact your total cost to make the switch to solar . Different companies will charge different amounts for the equipment and labor. Larger national companies generally have lower costs, but some local companies compete with them by promoting sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or add-on services like electric car charger installation, they might be cheaper overall.
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 | $13,443 | 11.8 years |
| 8 kW | $2.83 | $15,822 | $18,234 | 11.6 years |
| 10 kW | $2.77 | $19,390 | $23,180 | 11.4 years |
| 12 kW | $2.71 | $22,803 | $28,282 | 11.2 years |
| 14 kW | $2.66 | $26,060 | $33,538 | 10.9 years |
| 16 kW | $2.60 | $29,163 | $38,950 | 10.7 years |
| 18 kW | $2.55 | $32,110 | $44,517 | 10.5 years |
| 20 kW | $2.49 | $34,902 | $50,239 | 10.2 years |
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Since picking a company can be a challenge, we have some tips to help you, such as:
- Solar Panel Brands: Not all solar companies offer 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.
- Warranty: Warranties that cover panel repairs and maintenance over around 25 years are the gold standard in the business, and offering that kind of warranty is one mark of a quality company.
- Contract: Before you sign a contract with a solar installer, make sure you look it over completely so you understand the terms. Also, ask questions if you're not certain about some of the terms, such as what to do if a part breaks or malfunctions and if there are any guarantees about energy production.
- Reputation: Solar system installers that have great reviews from their customers and that have been operating for many years in most cases offer high-quality solar panel installation and expertise.
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 Eldridge, IA Solar Cost FAQs
How much does it cost to install solar panels in Eldridge?
The average cost of solar panels in Eldridge is about $13,850 for a 5-kW system and $27,700 for a 10-kW system before the ITC, but the actual cost will depend on certain factors like the kind of solar panels you want, what size system you need and how much energy you use.
Should I lease or buy solar panels in Eldridge?
Leasing solar panels can be an appealing choice, because it typically comes with low or $0 upfront payments. The downside is that you won't be able to save as much. If you lease, you don't own the system, so you can't claim any tax rebates and credits and your home value won't increase. Buying solar panels is a better option if you want to maximize your savings.
Is it worth going solar in Eldridge?
Solar panels can be a great investment for most homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your energy bills are already pretty low, solar panels might not be for you.
What solar power system size is right for my home?
To figure out how many solar panels you need, you should find out how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can typically produce about 250 to 400 watt-hours per hour, the average house will need 20 to 35 panels.
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.