Solar Panel Cost Guide in Iowa City, IA (2024 Update)
- Iowa City Solar Installation Cost: $27,053
- 25-Year Savings: $24,340
- Payback Period: 15.7 Years
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Average Cost of Solar Panels in Iowa City
Here’s how much it might cost to install solar panels in Iowa City.
In Iowa City, solar panels cost about 4 per watt on average.The average solar panel system size in Iowa City is around 9.6 kilowatts, meaning a cost of about $27,053 for a solar installation, or $38,686 before the 0 federal solar tax credit is applied.
These figures are just estimates, and your own solar costs will vary based on your specific situation and what company you choose to go with.For many homeowners, the upfront cost of solar power is worth paying. On average you could be looking at about $17,000 in savings on utility bills over 20 years.
To see your potential savings and connect with a local solar installer, click the button below.
Solar savings over time in Iowa City
| Year | Return on Investment |
|---|---|
| 1 years | $-25,877 |
| 3 years | $-23,525 |
| 5 years | $-21,174 |
| 7 years | $-18,822 |
| 9 years | $-16,470 |
| 11 years | $-14,118 |
| 13 years | $-11,766 |
| 15 years | $-9,414 |
| 17 years | $-7,062 |
| 19 years | $-4,710 |
| 21 years | $-2,358 |
| 23 years | $-6 |
| 25 years | $2,346 |
Top Solar Installers in Iowa City
Many homeowners choose to use a solar installer since figuring out how to install solar panels by yourself can be hard. Also, if you’d like to maximize your investment in solar energy, going with a solar company can help with that as well. Different providers can offer repairs, expertise on how to install solar panels and sometimes even information on local incentives, rebates and net metering programs.
Working with a professional solar installer can help your solar project go smoothly. Here are our recommendations:
See all of the solar companies in Iowa City
Factors that Affect Solar Panel Costs in Iowa City
For many Iowa City homeowners, the decision to install solar panels comes down to cost. However, the range of solar installation costs can be quite wide in Iowa City, with typical prices between $20,000 to $40,000. There are numerous factors that greatly influence the price you’ll pay, which we'll go over below.
Solar Equipment
The size of the solar system you need for your home, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by about $4,010. Some solar panel brands — like Maxeon from SunPower — are more costly upfront but also tend to offer higher efficiency. In a city like Iowa City, where sunlight is relatively abundant, efficiency can quickly pay off. Also, 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
Solar panels can save you money on utility bills over time, but they can also be a significant investment. That’s why many Iowa City homeowners choose to finance their solar panel systems to make paying for solar more affordable.When considering your overall cost, you should also calculate the interest you’ll pay if you go with a solar loan. Also, paying a higher down payment can reduce the total interest paid over time.
Solar Panel Installation Company
A final consideration when trying to estimate the cost of solar for your home or business in Iowa City is the company you hire to install your PV system. As with choosing a company to renovate your kitchen, for instance, you’ll have no shortage of solar installers that offer a range of services for different budgets.Larger national companies usually have lower costs, but some local companies undercut them by promoting 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 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 | $4.17 | $17,516 | $9,271 | 16.3 years |
| 8 kW | $4.09 | $22,905 | $12,811 | 16.0 years |
| 10 kW | $4.01 | $28,070 | $16,575 | 15.7 years |
| 12 kW | $3.93 | $33,010 | $20,563 | 15.4 years |
| 14 kW | $3.85 | $37,726 | $24,776 | 15.1 years |
| 16 kW | $3.77 | $42,217 | $29,214 | 14.8 years |
| 18 kW | $3.69 | $46,484 | $33,877 | 14.5 years |
| 20 kW | $3.61 | $50,526 | $38,763 | 14.1 years |
How to Save on Solar Panels
There are a lot of companies to choose from in Iowa City, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be challenging, so here are some tips to help you decide:
- Installation Process: When making the switch to solar energy, it’s necessary to maintain an open line of communication with your solar company. See to it that you understand how the installation process works and the project completion timeline.
- Solar Panel Brands: Different companies have various brands and models of panels. If you prefer a specific brand, make sure the solar panel installer you’re considering has it.
- Warranty: Warranties that cover replacement parts and repairs over a long period of time such as 25 years are the best you can get in the business, and offering that kind of warranty is one sign of a good company.
- Reputation: Long-running companies likely have a good reputation. This is important because it ensures that it will not only see your solar project through, but will also provide adequate aftercare and customer support, such as part repairs and replacements.
EcoWatch's Iowa City, IA Solar Cost FAQs
How much does it cost to install solar panels in Iowa City?
This is a difficult question to answer exactly, because the cost depends on a few different factors. Broadly speaking, it costs about $20,050 for a 5-kW system and $40,100 for a 10-kW system after the ITC is applied. You can expect to pay more if you want extra solar equipment or higher quality panels, or if you have higher-than-average energy usage. On the other hand, you can spend less if you want a smaller solar panel system or cheaper solar panels.
What other factors should I consider other than cost when buying solar panels?
Cost is a crucial 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 trump the cost. Other factors that are important to be mindful of are the quality and durability of your solar panels.
Do solar panels increase how much your home is worth?
Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Iowa City is currently $305,857, so you could be looking at a value of about $12,540 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Iowa City is a rewarding investment.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy usage and the amount of 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.