Solar Panel Cost Guide in Glenwood, IA (Mar 2023)
- Glenwood Solar Installation Cost: $18,033
- 25-Year Savings: $19,727
- Payback Period: 11.9 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Glenwood
We break down average solar pricing in Glenwood.
The national average cost of solar panels is $2.66 per watt, but in Glenwood it's 2.77 per watt. Using this figure, a typical 9.3-kW system would cost about $18,033 before the 30% federal solar tax credit is applied.
The prices above are just estimates to give you an idea of how much a solar panel system could cost. The exact cost of installing solar panels can vary quite a bit based on several factors, such as what size system you need, your energy usage and what company you go with. But, once you've paid the initial cost of installation, the savings for most homeowners is usually fruitful, with a net average savings of about $15,000 over 20 years on electricity bills.
To calculate your potential ROI and connect with a local solar expert, click the button below.
Solar savings over time in Glenwood
| Year | Return on Investment |
|---|---|
| 1 years | $-16,522 |
| 3 years | $-13,502 |
| 5 years | $-10,481 |
| 7 years | $-7,460 |
| 9 years | $-4,439 |
| 11 years | $-1,418 |
| 13 years | $1,602 |
| 15 years | $4,623 |
| 17 years | $7,644 |
| 19 years | $10,665 |
| 21 years | $13,685 |
| 23 years | $16,706 |
| 25 years | $19,727 |
Top Solar Installers in Glenwood
Do-it-yourself solar panel installation is a possibility, but it's an undertaking that can take a lot of hard work. Hiring a solar company can make your switch to solar power much easier. Another good thing about going with a reputable solar installer is that it'll likely provide warranties and free repairs, which help protect your investment.
If you're looking for a solar installer in Glenwood, the EcoWatch team has compiled a list of our top suggestions here:
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
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
See all of the solar companies in Glenwood
Factors that Affect Solar Panel Costs in Glenwood
Cost is typically one of the most important factors for homeowners wanting to invest in solar. There are a few major factors that will push your cost above or below the average in Glenwood: solar equipment and system size, financing options and the solar installation company you choose. We'll go over each of these briefly below.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a variety of factors. One of the main factors is the system size, which is measured in kilowatts (kW). Solar power systems that have greater efficiency or power production require better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $2,770. The kind of solar panels and equipment you get is another factor that will considerably affect costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to be more costly. Moreover, solar equipment goes beyond just the solar panels themselves. You'll also need to think about the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when looking into a solar system that falls within your budget.
Solar Financing Terms
Many homeowners find the average cost of solar in Glenwood to be too steep, even if the investment pays off over time. Thankfully, nearly every solar installer in the area provides access to financing options. Solar loans substantially decrease upfront costs in most cases, but they also result in a higher cost over time because of interest. Even though solar loans make switching to solar energy more accessible for Glenwood homeowners, they can also add to the total you pay for your system due to interest. If you make a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
A final factor to consider when trying to evaluate the cost of solar for your home or business in Glenwood is the company you hire to install your solar panel system. Similar to choosing a company to build a deck or pool, for example, you'll have many options for solar installers that offer a range of services at different price points. Larger national companies typically have lower costs, but some local companies compete with them by promoting sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or additional 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 | $12,273 | 12.4 years |
| 8 kW | $2.83 | $15,822 | $16,674 | 12.2 years |
| 10 kW | $2.77 | $19,390 | $21,230 | 11.9 years |
| 12 kW | $2.71 | $22,803 | $25,941 | 11.7 years |
| 14 kW | $2.66 | $26,060 | $30,808 | 11.5 years |
| 16 kW | $2.60 | $29,163 | $35,829 | 11.2 years |
| 18 kW | $2.55 | $32,110 | $41,006 | 11.0 years |
| 20 kW | $2.49 | $34,902 | $46,338 | 10.7 years |
How to Save on Solar Panels
Since the kind of solar panels and the installation company you choose significantly impacts your costs and your system's efficiency, production, and durability, it's important to select the right ones for you. Here are some things to keep in mind to help with your decision:
- Warranty: A quality company stands out from other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Installation Process: Homeowners should understand how exactly the installation process will be carried out, as well as important factors like the completion timeline.
- Contract: Though reading through a contract can take a lot of time, it's important to do it fully so you can make sure you understand what services your solar company will provide and the terms of the warranty.
- Solar Panel Brands: The brand of solar panel you want to install plays a role in which company you should choose, since different companies offer different panels.
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
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
EcoWatch's Glenwood, IA Solar Cost FAQs
How much does it cost to install solar panels in Glenwood?
This is a difficult question to answer precisely, because the cost depends on a few different factors. Generally speaking, it costs about $13,850 for a 5-kW system and $27,700 for a 10-kW system after the ITC is applied. It will cost more if you want other solar equipment or higher quality panels, or if you have higher-than-average energy usage. On the flip side, you can spend less if you go with a smaller solar panel system or cheaper solar panels.
Is cost the most important consideration when buying solar panels?
The initial 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 trump the cost. Other factors that are important to think about are the quality and durability of your solar panels.
Can solar panels completely eradicate my electricity bills?
Solar panels can potentially eliminate your electricity bills depending on your location and how much sunlight your home gets. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $812.40 per year.
How many solar panels do I need to power my home?
To figure out what solar panel system size you need, you need to know how much energy your home uses 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.