Solar Panel Cost Guide in Monticello, IA (Feb 2023)

  • Monticello Solar Installation Cost: $18,847
  • 25-Year Savings: $30,563
  • Payback Period: 9.5 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated January 20, 2023

Why you can trust EcoWatch

We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Monticello

See how much it might cost to install solar panels in Monticello.

The average cost of solar panels in Monticello is $3 per watt. Since a 9.7-kW system is needed to cover the energy needs of a typical home in Monticello, the average price of going solar will be about $18,847 before claiming the federal solar tax credit of 30%.

Remember that the numbers above are only averages. The price you'll pay for solar will differ based on your household energy needs, the type of equipment you want, your solar contractor and more. But, after you've paid the upfront cost of installation, the payback for most homeowners is usually fruitful, with a net average savings of about $19,000 over 20 years on power bills.

You can click the button below to get connected with a top solar installer in Monticello that can help you get a more accurate cost estimate for your home.

Solar savings over time in Monticello

Year Return on Investment
1 years $-16,871
3 years $-12,918
5 years $-8,965
7 years $-5,012
9 years $-1,059
11 years $2,893
13 years $6,846
15 years $10,799
17 years $14,752
19 years $18,705
21 years $22,657
23 years $26,610
25 years $30,563

Top Solar Installers in Monticello

Many homeowners opt for a solar installer since figuring out how to install solar panels yourself can be a lot of work. Plus, if you aren't sure what kind of solar panels and equipment you want, a solar expert can help you find the right equipment for you after a site survey and consultation.

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 in Monticello:

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Technology

Tesla Energy

★★★★★
4.5

  • 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

★★★★★
4.0

  • Industry-leading warranty coverage
  • Expansive service area
  • Some reported communication issues
  • No leases or PPAs

See all of the solar companies in Monticello

Factors that Affect Solar Panel Costs in Monticello

Cost is usually one of the most important factors for homeowners considering investing in solar. There are a few key factors that will push your cost above or below the average in Monticello: 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

One of the most significant factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more power your household consumes, the larger your system will likely need to be. You can expect to spend about $2,770 per kilowatt in Monticello. The type of solar panels and equipment you get is another factor that will considerably influence costs. Solar panels that are more efficient, like monocrystalline panels, tend to come at a higher price. 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 searching for a solar system that's in your budget.

Solar Financing Terms

Most solar installers in Monticello provide solar loans, which reduce your upfront costs of installing solar panels. When trying to figure out your overall cost, you should also calculate the interest you'll pay if you opt for a solar loan. Also, paying a higher down payment can reduce the total interest paid over time.

Solar Panel Installation Company

The solar installer you choose to handle your switch to sustainable energy can play a role in your total costs. There are about 3 solar installation companies operating throughout Monticello, and each can charge varying amounts for labor and equipment. Additionally, some companies in Monticello 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 that service. Even if they cost more upfront, they could help you save 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 $18,403 9.9 years
8 kW $2.83 $15,822 $24,848 9.7 years
10 kW $2.77 $19,390 $31,448 9.5 years
12 kW $2.71 $22,803 $38,203 9.3 years
14 kW $2.66 $26,060 $45,113 9.2 years
16 kW $2.60 $29,163 $52,178 9.0 years
18 kW $2.55 $32,110 $59,398 8.8 years
20 kW $2.49 $34,902 $66,774 8.6 years

How to Save on Solar Panels

Since the model of solar panels and the installer you choose has an impact on your costs and your system's durability and efficiency, it's important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:

  • Contract: When reading over your solar installer's contract, ask questions about any terms you're not sure of and make sure you understand what happens in scenarios such as a system component breaking or if the company goes out of business.
  • Reputation: Your solar installer should have a good reputation as a company and have verifiable expertise in the field. Two ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from past customers.
  • Installation Process: Homeowners should make sure they understand how exactly the installation process will be carried out, as well as important factors like the project timeline.
  • Solar Panel Brands: Homeowners will have different preferences for panels based on their roof configurations and how much efficiency they need. Although there are many options for which type of solar panel you can get, not every company will have the exact one you may want or need, so make sure you ask for their list of offerings before making your decision.

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Technology

Tesla Energy

★★★★★
4.5

  • 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

★★★★★
4.0

  • Industry-leading warranty coverage
  • Expansive service area
  • Some reported communication issues
  • No leases or PPAs

EcoWatch's Monticello, IA Solar Cost FAQs

What is the average cost of installing solar panels in Monticello?

The average cost of solar panels in Monticello is about $13,850 for a 5-kW system and $27,700 for a 10-kW system before the ITC, but the real cost will depend on stuff like the kind of solar panels you want, what size system you need and how much energy you consume.

Is it better to lease or buy solar panels in Monticello?

Leasing solar panels can be an appealing choice, because 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 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 $1,016.76 per year.

How often do you have to replace solar panels?

Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is how much energy they produce will have decreased significantly after that point. You can choose to replace them once you've had them for that long or you can continue to use them at a lower efficiency.

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.

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