Solar Panel Cost Guide in Oelwein, IA (2024 Update)
- Oelwein Solar Installation Cost: $27,498
- 25-Year Savings: $29,282
- Payback Period: 14.2 Years
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Average Cost of Solar Panels in Oelwein
Let’s take a look at the average cost of solar in Oelwein.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Oelwein, the average cost of solar panels is 4 per watt.Using this figure, a typical 9.8-kW system would cost about $27,498 before the 0 federal solar tax credit is applied.
The prices above are just estimates to give you an idea of the cost of a solar energy system. The actual cost of going solar can vary depending on a few factors, such as what size system you need, your energy consumption and what installation company you go with.Despite the large upfront cost, the average Oelwein homeowner can save about $19,000 on their power bills over 20 years, which is one of the advantages of solar.
For a free quote from a local solar installer that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Oelwein
| Year | Return on Investment |
|---|---|
| 1 years | $-25,782 |
| 3 years | $-22,349 |
| 5 years | $-18,916 |
| 7 years | $-15,483 |
| 9 years | $-12,049 |
| 11 years | $-8,616 |
| 13 years | $-5,183 |
| 15 years | $-1,750 |
| 17 years | $1,683 |
| 19 years | $5,116 |
| 21 years | $8,549 |
| 23 years | $11,982 |
| 25 years | $15,415 |
Top Solar Installers in Oelwein
Many homeowners decide to hire a solar installer since trying to put up solar panels yourself can be a labor-intensive endeavor. A solar installer can also help save you money in the long run by offering warranties, repairs and part replacements.
There are several licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
Best National Provider
SunPower
- 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
- 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 Oelwein
Factors that Affect Solar Panel Costs in Oelwein
There are a number of factors that can influence your solar panel installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar system.
Solar Equipment
When it comes to estimating the price of a solar system in Oelwein, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are chiefly based on your home’s energy consumption, which you can figure out by looking at past energy bills. Your overall cost can increase by around $4,010 for each additional kilowatt you need.There are a lot of different solar panel brands and the one you pick also changes the cost. Usually, the brands that offer higher efficiency tend to also cost more. Plus, the type of equipment you choose 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 Oelwein 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 remarkably decrease upfront costs for most homeowners, but they also lead to higher prices over time due to interest.When estimating 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 lower the total interest paid over time.
Solar Panel Installation Company
The final key cost factor you should keep in mind is the installer you choose. Given the growing popularity of sustainable energy solutions in Oelwein, you’ll have lots of options to choose from, but each comes at varying price points for labor and equipment.The company’s size can sometimes play the most significant role in the cost of installation. Larger national companies, like SunPro and Sunrun, often have lower prices because of greater resources and bulk pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or promotion can bring their pricing lower to compete with bigger names.
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 | $12,053 | 14.8 years |
| 8 kW | $4.09 | $22,905 | $16,520 | 14.5 years |
| 10 kW | $4.01 | $28,070 | $21,211 | 14.2 years |
| 12 kW | $3.93 | $33,010 | $26,127 | 14.0 years |
| 14 kW | $3.85 | $37,726 | $31,267 | 13.7 years |
| 16 kW | $3.77 | $42,217 | $36,632 | 13.4 years |
| 18 kW | $3.69 | $46,484 | $42,222 | 13.1 years |
| 20 kW | $3.61 | $50,526 | $48,036 | 12.8 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 decide on the right company for you, here are some tips to keep in mind:
- Contract: Before signing a contract with a solar company, make sure to look it over fully so you understand the terms. Also, ask questions if you’re unsure about some of the terms, such as what to do if a part breaks or malfunctions and what services you can expect from them.
- Warranty: If you’re concerned about the longevity of your solar panel system, ensuring your company offers a 25-year, all-inclusive warranty can help put you at ease.
- Reputation: Companies that have been operating for many years likely have a solid 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.
- Installation Process: Make sure you’re aligned with the installer in regard to how the installation process will go and what needs to be done before your solar system is installed, such as updating or replacing your electrical system or roof.
Best National Provider
SunPower
- 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
- 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 Oelwein, IA Solar Cost FAQs
What is the average cost of installing solar panels in Oelwein?
The average cost of solar panels in Oelwein is about $20,050 for a 5-kW system and $40,100 for a 10-kW system before the ITC, but the actual cost will depend on certain factors like the kind of solar panels you want, what size system you need and how much energy you use.
What other factors should I consider apart from cost when buying solar panels?
Cost is a crucial factor to consider, but whether it’s the most important for you depends on your reasons for going solar. In areas where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to keep in mind are the quality and durability of your solar panels.
How will having solar panels impact the value of my home?
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 Oelwein is currently $100,723, so you can look forward to a value of about $4,130 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Oelwein is a fruitful investment.
How often do you have to replace solar panels?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher 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.