Solar Panel Cost Guide in Fort Madison, IA (2023 Update)
- Fort Madison Solar Installation Cost: $18,295
- 25-Year Savings: $33,656
- Payback Period: 8.8 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Fort Madison
See how much it might cost to install solar panels in Fort Madison.
While the national average of solar panels is $2.66 per watt, solar panels in Fort Madison generally cost around 2.77. To cover the typical energy usage of the average home in Fort Madison, most homeowners require a 9.4-kilowatt system. Using the figure above, a solar installation costs around $18,304, or $26,175 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 actual cost of making the switch to solar can vary depending on a few factors, such as what size system you need, your energy consumption and what solar installer you go with. For most homeowners, the upfront cost of solar panels is worth paying. On average you could be looking at about $21,000 in savings on utility bills over 20 years.
You can click the button below to get connected with a pre-vetted solar installer in Fort Madison that can help you get a more accurate cost estimate for your home.
Solar savings over time in Fort Madison
| Year | Return on Investment |
|---|---|
| 1 years | $-18,122 |
| 3 years | $-17,776 |
| 5 years | $-17,429 |
| 7 years | $-17,083 |
| 9 years | $-16,737 |
| 11 years | $-16,390 |
| 13 years | $-16,044 |
| 15 years | $-15,698 |
| 17 years | $-15,351 |
| 19 years | $-15,005 |
| 21 years | $-14,659 |
| 23 years | $-14,312 |
| 25 years | $-13,966 |
Top Solar Installers in Fort Madison
DIY solar panel installation is a choice some homeowners opt for, but it's an undertaking that can use up a lot of your time and energy. Using a solar panel installer can make your switch to solar power much easier. Companies can also have access to a large variety of the best solar panels and help you pick which one will be right for your family.
There are several licensed solar professionals that can help you install your solar panels. 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 Fort Madison
Factors that Affect Solar Panel Costs in Fort Madison
While the average cost of a solar system in Fort Madison is $18,304, your actual cost may be higher or lower than that. There are many factors that can have a sizable impact on the cost of a residential solar panel installation. Below are some of the more important things to keep in mind.
Solar Equipment
The size of the solar system you need to offset your energy usage, 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 about $2,770. Some solar brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer higher efficiency. In a city like Fort Madison, where sunlight is relatively abundant, efficiency can quickly pay off. Plus, if you have a small roof or you don't have a lot of space for your panels, higher efficiency options will be a better option. 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 Fort Madison to be prohibitively expensive, even if the investment pays off over time. Thankfully, almost every solar company in the area provides financing options. Solar loans remarkably decrease upfront costs for most homeowners, but they also lead to a higher cost over time due to interest. You'll have to consider the long-term cost of financing options, including the total 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 more than the original cost. Making a larger down payment or securing a solar loan with a low APR could reduce your costs considerably.
Solar Panel Installation Company
The solar panel installation company you select will play a role in your total cost to adopt solar power. Different companies will charge different amounts for the equipment and labor. The size of the company can sometimes play the most considerable role in your costs. Larger national companies, like SunPro and Sunrun, often have lower prices because of access to more resources and better pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or discount can bring their pricing lower to compete with bigger names.
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 | $20,936 | 9.2 years |
| 8 kW | $2.83 | $15,822 | $28,226 | 9.0 years |
| 10 kW | $2.77 | $19,390 | $35,670 | 8.8 years |
| 12 kW | $2.71 | $22,803 | $43,269 | 8.6 years |
| 14 kW | $2.66 | $26,060 | $51,024 | 8.5 years |
| 16 kW | $2.60 | $29,163 | $58,933 | 8.3 years |
| 18 kW | $2.55 | $32,110 | $66,998 | 8.1 years |
| 20 kW | $2.49 | $34,902 | $75,218 | 7.9 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. Since picking a company can be a tough decision, we have some tips to help you, such as:
- Reputation: Your solar installer should have a solid reputation as a company and have verifiable expertise in the field. A couple of ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has good reviews from previous customers.
- Solar Panel Brands: Different companies will have various brands and models of panels. If you know you want a specific brand, make sure the solar panel installer you're considering has it.
- Contract: Look through the contract terms thoroughly to make sure you understand the total cost, project completion timeline rebates and warranties.
- Warranty: Each company may offer different types of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
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 Fort Madison, IA Solar Cost FAQs
What is the average cost of installing solar panels in Fort Madison?
The average cost of solar panels in Fort Madison 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 model of solar panels you want, what size system you need and how much energy you use.
Is cost the most important consideration when buying solar panels?
Cost is a key factor to consider, but whether it's the most important for you depends on your goals for going solar. In areas 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.
Do solar panels increase your home value?
Installing solar panels on your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Fort Madison is currently $95,602, so you can look forward to a value of about $3,920 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Fort Madison is a rewarding investment.
How often do you have to replace solar panels?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher 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.