Solar Panel Cost Guide in Eldridge, IA (2024 Update)
- Eldridge Solar Installation Cost: $27,096
- 25-Year Savings: $22,376
- Payback Period: 16.5 Years
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Average Cost of Solar Panels in Eldridge
Find out what the average cost of solar panel installation is in Eldridge.
The average cost of a solar system in Eldridge is 4 per watt.Because a 9.7-kW system is needed to cover the energy usage of a typical home in Eldridge, the average price of going solar will be about $27,096 after claiming the federal solar tax credit of 0.
The prices above are just estimates to give you an idea of the cost of a solar panel system. The exact cost of installing solar panels can vary quite a bit depending on a few factors, such as what size system you need, your energy usage and what installation company you go with.But, after you've paid the initial cost of installation, the ROI for most homeowners is usually rewarding, with a net average savings of about $16,000 over 20 years on utility bills.
You can click the button below to get connected with a pre-vetted solar installer in Eldridge for a quote for your home.
Solar savings over time in Eldridge
| Year | Return on Investment |
|---|---|
| 1 years | $-25,379 |
| 3 years | $-21,946 |
| 5 years | $-18,513 |
| 7 years | $-15,080 |
| 9 years | $-11,647 |
| 11 years | $-8,214 |
| 13 years | $-4,781 |
| 15 years | $-1,348 |
| 17 years | $2,085 |
| 19 years | $5,518 |
| 21 years | $8,951 |
| 23 years | $12,384 |
| 25 years | $15,817 |
Top Solar Installers in Eldridge
Do-it-yourself solar panel installation is a way to cut costs, but it's an undertaking that can be a headache. Hiring a solar panel installer can make converting to solar power much easier. Another upside of going with a solar installer is that they can help you maximize your return of investment by bringing down your future costs of repairs and replacements with the help of warranties and helping you learn about local incentives you can take advantage of.
You can get a free estimate from a local solar installer on how much your investment in solar could cost for your home. Here are some near you:
See all of the solar companies in Eldridge
Factors that Affect Solar Panel Costs in Eldridge
There are many criteria that can play into your installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar panels.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of going solar. That’s why it’s a priority to accurately assess the size of the solar energy system needed for your home by figuring out your typical energy use.There are several different solar panel brands and the one you pick also changes the cost. Typically, the brands that offer higher efficiency tend to also be more expensive. Plus, the type of equipment you choose can affect your total cost. If you just need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be challenging. Solar loans are provided by most installers in Eldridge, which can lower, or in some cases totally eliminate, your upfront costs to make solar more accessible.You’ll have to consider the long-term cost of financing options, including the amount of interest you’ll pay over the length of the loan. If you’re only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or finding a solar loan with a low APR could reduce your costs significantly.
Solar Panel Installation Company
The solar company you opt for to handle your switch to sustainable energy can have an effect on your total costs. There are about 3 solar installation companies operating throughout Eldridge, and each can charge varying amounts for labor and equipment.Larger national companies usually have lower costs, but some local companies keep up with them by offering sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or add-on services like electric vehicle 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 | $4.17 | $17,516 | $8,027 | 17.1 years |
| 8 kW | $4.09 | $22,905 | $11,151 | 16.8 years |
| 10 kW | $4.01 | $28,070 | $14,500 | 16.5 years |
| 12 kW | $3.93 | $33,010 | $18,074 | 16.2 years |
| 14 kW | $3.85 | $37,726 | $21,872 | 15.8 years |
| 16 kW | $3.77 | $42,217 | $25,895 | 15.5 years |
| 18 kW | $3.69 | $46,484 | $30,143 | 15.2 years |
| 20 kW | $3.61 | $50,526 | $34,615 | 14.8 years |
How to Save on Solar Panels
The solar panel company you opt for will influence not only your overall costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are some important things you should take into account, including:
- Installation Process: Homeowners should make sure they know how exactly the installation process will be carried out, as well as important factors like the project completion timeline.
- Warranty: Many companies offer different types of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Contract: When reading through your solar installer’s contract, ask questions 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.
- Solar Panel Brands: Each solar panel brand and model offers varying levels of quality, longevity and efficiency. They will come at different price points as well. The company you choose has an impact on which solar panel brands you have access to.
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 $20,050 for a 5-kW system and $40,100 for a 10-kW system before the ITC, but the actual cost will depend on things like the model of solar panels you want, what size system you need and how much energy you use.
Can you get solar panels for free in Eldridge?
You can’t get solar panels for free in Eldridge. 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.
Does Eldridge have a net metering program?
Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just offer you credit toward your future electricity bills.
How long do solar panels last in Eldridge?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is how much energy they produce will have decreased significantly after that point. You can decide to replace them after having them for that long or you can continue to use 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.