Solar Panel Cost Guide in Grinnell, IA (2023 Update)
- Grinnell Solar Installation Cost: $18,556
- 25-Year Savings: $29,492
- Payback Period: 9.7 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Grinnell
Let's take a look at the average cost of solar panels in Grinnell.
The national average cost of solar panels is $2.66 per watt, but in Grinnell it's 2.77 per watt. To account for the typical energy needs of the average home in Grinnell, most homeowners require a 9.6-kilowatt system. Using the per-watt figure above, a solar installation costs around $18,556, or $26,535 before the federal solar tax credit of 30% is applied.
These figures are only estimates, and your own solar costs will look different based on your specific situation and what company you choose to go with. For most homeowners, the upfront investment in solar panels is worth paying. On average homeowners in Grinnell see about $19,000 in savings on energy bills over 20 years.
You can click the button below to get connected with a vetted solar company in Grinnell for a quote for your home.
Solar savings over time in Grinnell
| Year | Return on Investment |
|---|---|
| 1 years | $-16,634 |
| 3 years | $-12,790 |
| 5 years | $-8,947 |
| 7 years | $-5,103 |
| 9 years | $-1,259 |
| 11 years | $2,585 |
| 13 years | $6,429 |
| 15 years | $10,273 |
| 17 years | $14,117 |
| 19 years | $17,960 |
| 21 years | $21,804 |
| 23 years | $25,648 |
| 25 years | $29,492 |
Top Solar Installers in Grinnell
Although it's possible to install solar panels by yourself, it takes extra effort and knowledge. Because of that, most people choose to go with a solar panel installer. Also, companies with an outstanding reputation that cost more upfront could actually save you money in the long run due to their warranties, repair services and expert design.
You can get a free quote from a local solar installer on how much your investment in solar could cost for your home. Here are some in Grinnell:
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
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 Grinnell
Factors that Affect Solar Panel Costs in Grinnell
Cost is often one of the most important factors for homeowners who are considering investing in solar. There are a few key factors that affect your total cost in Grinnell: 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
When it comes to estimating the cost of a solar energy system in Grinnell, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are mainly based on your home's energy consumption, which you can gauge by looking at past power bills. Your total cost can increase by around $2,770 for each additional kilowatt you need. Some solar brands — like Maxeon from SunPower — cost more upfront but also tend to offer higher efficiency. In a city like Grinnell, 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 more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
If paying for solar panels in cash is out of reach, solar loans are a popular choice because they lower your upfront costs and let you pay for your system over a term of, on average, between five and seven years. Although solar loans make switching to solar energy more accessible for Grinnell homeowners, they can also increase the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you make a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The solar installer you choose will affect your total cost to go solar. Different companies will bill different amounts for the equipment and labor. Companies that only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come at a higher cost. It's best to do some research and find a company that has the products, warranties and services you want and also is within your budget.
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 | $18,018 | 10.0 years |
| 8 kW | $2.83 | $15,822 | $24,334 | 9.9 years |
| 10 kW | $2.77 | $19,390 | $30,805 | 9.7 years |
| 12 kW | $2.71 | $22,803 | $37,432 | 9.5 years |
| 14 kW | $2.66 | $26,060 | $44,213 | 9.3 years |
| 16 kW | $2.60 | $29,163 | $51,150 | 9.1 years |
| 18 kW | $2.55 | $32,110 | $58,241 | 8.9 years |
| 20 kW | $2.49 | $34,902 | $65,488 | 8.7 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because selecting a company can be difficult, we have some tips to help you, such as:
- Solar Panel Brands: Each solar panel brand and type has varying levels of quality, durability and efficiency. They will come at different costs as well. The company you choose plays a role in which solar panel brands you have access to.
- Reputation: Your solar installer should have a sound 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 positive reviews from previous customers.
- Warranty: An all-inclusive, 25-year warranty can help keep your solar panels running for a long time and save you money on part replacement and repairs.
- Contract: Even though reading through a contract can take a lot of time, it's important to do it thoroughly so you can make sure you understand what services your solar company will provide and how part repairs and replacements will be handled.
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
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 Grinnell, IA Solar Cost FAQs
How much does it cost to install solar panels in Grinnell?
This is a difficult question to answer precisely, because the cost depends on a few different factors. Broadly 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 extra solar equipment or more efficient panels, or if you have higher-than-average energy usage. On the other hand, you can spend less if you choose a smaller solar panel system or less expensive solar panels.
What other factors should I consider aside from cost when buying solar panels?
Cost is a key factor to consider, but whether it's the most important for you depends on why you decided to go solar. In areas where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to think about are the quality and durability of your solar panels.
Can solar panels significantly reduce 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 $1,003.90 per year.
How many solar panels should I get to power my home?
The exact number of solar panels you need depends on your household energy usage and the average daily sunlight your roof gets. You can take a look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to get between 20 and 35 panels to account for their typical energy usage.
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.