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

  • Monticello Solar Installation Cost: $18,845
  • 25-Year Savings: $30,565
  • 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 September 15, 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

Let's take a look at the average cost of solar in Monticello.

In Monticello, solar panels cost about 2.77 per watt on average. The average Monticello homeowner needs a 9.7-kilowatt system, which would cost about $18,847 with the federal tax credit, or $26,951 before the 30% tax credit is applied.

These figures are only averages, and your own solar costs will most likely differ based on the amount of energy your home requires and what company you want to go with. Despite the significant initial cost, the average Monticello homeowner can save about $19,000 on their electricity bills over 20 years, which is one of the advantages of solar.

Click the button below to get connected to a vetted solar installer in Monticello for a customized estimate.

Solar savings over time in Monticello

Year Return on Investment
1 years $-17,129
3 years $-13,696
5 years $-10,263
7 years $-6,830
9 years $-3,397
11 years $36
13 years $3,469
15 years $6,902
17 years $10,335
19 years $13,768
21 years $17,201
23 years $20,634
25 years $24,067

Top Solar Installers in Monticello

DIY solar panel installation is a way to cut costs, but it's an undertaking that can use up a lot of your time and energy. Going with an installer can make your swap to solar power much easier. A solar installer can also help save you money in the long run by providing warranties, repairs and part replacements.

If you're searching for a solar company in Monticello, the EcoWatch team has put together a list of our top suggestions here:

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 Warranty Coverage

ADT Solar

★★★★★
4.0

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

Best Technology

Tesla Energy

★★★★★
3.2

  • 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 Monticello

Factors that Affect Solar Panel Costs in Monticello

The cost of installing a solar system in Monticello can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The most significant one is your system size, and other factors include equipment choices, financing options and the solar company you choose.

Solar Equipment

The cost of solar panels varies by thousands of dollars due to some different factors. One of the main factors is the system size, which is measured in kilowatts (kW). Solar power systems with higher efficiency or power production need 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 brand and type of equipment you get for your solar system can raise or lower the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these often come at a higher price than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have a small roof or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to more savings over time. Plus, if you want additional equipment like an electric vehicle charger or solar batteries, this will also increase the cost.

Solar Financing Terms

Solar panels can save you money on power bills over many years, but they can also be a big investment. That's why many Monticello homeowners opt to finance their solar panel systems to make going solar more affordable. However, the interest on solar loans also increases your all-in costs, so it's important to include that in your estimate as well. You can always reduce the total you pay in interest and in some cases even your APR by making a larger down payment.

Solar Panel Installation Company

The solar company you go with to handle your switch to clean energy can play a part in your total costs. There are about 3 solar installation companies in Monticello, and each can charge varying amounts for labor and equipment. Additionally, some companies in Monticello know more 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 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

There are a lot of solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you pick the right company for you, here are some tips to keep in mind:

  • Installation Process: One of the most important things to understand when going solar is the installation process itself. Be sure to align on any details you need to know with your solar company, such as what permits you should secure and what the project timeline is.
  • Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for clean energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a solid reputation and is qualified to get the job done well. Another way you can look into your installer's reputation is by reading reviews.
  • Contract: Though reading through a contract can be tedious, it's important to do it thoroughly so you can make sure you understand how much the equipment and services will cost and the terms of the warranty.
  • 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 access to the exact one you may want or need, so be sure to take a look at their list of options before deciding.

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 Warranty Coverage

ADT Solar

★★★★★
4.0

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

Best Technology

Tesla Energy

★★★★★
3.2

  • 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 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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