Solar Panel Cost Guide in Marion, IA (2023 Update)
- Marion Solar Installation Cost: $18,840
- 25-Year Savings: $30,080
- Payback Period: 9.6 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Marion
See how much it might cost to install solar panels in Marion.
Although the national average of solar panels is $2.66 per watt, solar panels in Marion generally cost about 2.77. Since a 9.7-kW system is needed to cover the energy consumption of a typical home in Marion, the average price of going solar will be about $18,847 after claiming the federal solar tax credit of 30%.
These figures are just averages, and the cost of going solar for you may vary based on your energy needs and what company you choose to go with. Many homeowners find installing a solar system is a rewarding investment. The average homeowner in Marion can save around $19,000 on their electricity bills over 20 years.
For a personalized quote from a local solar installer that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Marion
| Year | Return on Investment |
|---|---|
| 1 years | $-17,124 |
| 3 years | $-13,691 |
| 5 years | $-10,258 |
| 7 years | $-6,825 |
| 9 years | $-3,392 |
| 11 years | $41 |
| 13 years | $3,474 |
| 15 years | $6,907 |
| 17 years | $10,340 |
| 19 years | $13,773 |
| 21 years | $17,206 |
| 23 years | $20,639 |
| 25 years | $24,072 |
Top Solar Installers in Marion
When making the switch to solar, many homeowners prefer to hire a solar installer since handling can be a challenging project. The expertise that solar installers offer can be useful as well, particularly if you aren't sure what type of solar equipment would be right for your home.
You can work with a local solar installer to get a free estimate on how much solar panels could cost for your home. Here are some nearby:
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 Marion
Factors that Affect Solar Panel Costs in Marion
Cost is usually one of the most important factors for homeowners who are considering investing in solar. There are a few primary factors that determine your overall cost in Marion: solar equipment and system size, financing options and the solar installation company you choose. We'll cover each of these briefly below.
Solar Equipment
The size of the solar system you need, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by around $2,770. There are many different solar panel brands and the one you choose also affects the cost. Typically, the brands that have better efficiency tend to also be more expensive. In addition, the type of equipment you're looking to get can affect your total cost. If you only need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Many homeowners find the average cost of solar in Marion to be prohibitively expensive, even if the investment pays off over time. Thankfully, almost every solar company in the area offers financing options. Solar loans drastically decrease upfront costs in most cases, but they also result in higher prices over time due to interest. When trying to figure out your overall cost, you should also calculate the interest you'll pay if you decide on a solar loan. Also, paying more on your down payment can reduce the total interest paid over time.
Solar Panel Installation Company
The solar installer you opt for to handle your switch to solar energy can play a part in your total costs. There are about 3 solar panel companies in Marion, and each can charge varying amounts for labor and equipment. Additionally, some companies in Marion are more knowledgeable about local solar incentives and can help you take advantage of additional rebates or tax exemptions. However, they may charge more for walking you through the whole process. Even if they cost more upfront, they could end up saving you more money in the long run.
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 | $18,109 | 10.0 years |
| 8 kW | $2.83 | $15,822 | $24,456 | 9.8 years |
| 10 kW | $2.77 | $19,390 | $30,957 | 9.6 years |
| 12 kW | $2.71 | $22,803 | $37,614 | 9.4 years |
| 14 kW | $2.66 | $26,060 | $44,426 | 9.2 years |
| 16 kW | $2.60 | $29,163 | $51,393 | 9.1 years |
| 18 kW | $2.55 | $32,110 | $58,515 | 8.9 years |
| 20 kW | $2.49 | $34,902 | $65,793 | 8.7 years |
How to Save on Solar Panels
Since the model of solar panels and the installation company you choose greatly affects 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:
- Installation Process: When making the switch to solar power, it's important to keep an open line of communication with your solar panel company. See to it that you understand how the installation process works and the project completion timeline.
- Warranty: An all-inclusive, 25-year warranty can help keep your solar system running for years to come and save you money on repairs and maintenance.
- Solar Panel Brands: Different companies offer different brands and models of panels. If you prefer a specific brand, make sure the solar installer you're considering has it.
- Contract: When reading over your solar company's contract, ask questions about any terms you're not sure of and make sure you understand what happens in scenarios like a system component breaking or the company going out of business.
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 Marion, IA Solar Cost FAQs
How much does it cost to install solar panels in Marion?
This is a hard question to answer exactly, because the cost depends on many 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. You can expect to pay more if you want additional solar equipment or higher quality panels, or if you have higher-than-average energy usage. Conversely, you can spend less if you go with a smaller solar panel system or cheaper solar panels.
Is it better to lease or buy solar panels in Marion?
Leasing solar panels can be an attractive choice, as it often comes with low or $0 upfront payments. The drawback is that you won't be able to save as much. If you lease, you don't own the system, so you can't claim any tax rebates and credits and your home value won't increase. Buying solar panels is a better way to go if you want to maximize your savings.
Can solar panels completely eradicate my power bills?
Solar panels can potentially eliminate your electricity bills depending on your location and the efficiency of your system. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $1,006.95 per year.
How long do solar panels last in Marion?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger level 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.