Solar Panel Cost Guide in Oelwein, IA (Mar 2023)
- Oelwein Solar Installation Cost: $19,002
- 25-Year Savings: $29,275
- Payback Period: 9.8 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Oelwein
We go over average solar pricing in Oelwein.
The average cost of solar panels in Oelwein is 2.77 per watt. Using this figure, a typical 9.8-kW system would cost about $19,002 before the 30% federal solar tax credit is applied.
Remember that the numbers above are only averages. The price you'll end up paying for solar will differ based on your household energy needs, the type of solar panels you want, your solar contractor and more. For many homeowners, the upfront investment in solar panels is worth paying. On average homeowners in Oelwein see about $19,000 in savings on electricity bills over 20 years.
To calculate your potential savings and connect with a local solar company, click the button below.
Solar savings over time in Oelwein
| Year | Return on Investment |
|---|---|
| 1 years | $-17,071 |
| 3 years | $-13,209 |
| 5 years | $-9,347 |
| 7 years | $-5,485 |
| 9 years | $-1,622 |
| 11 years | $2,240 |
| 13 years | $6,102 |
| 15 years | $9,964 |
| 17 years | $13,826 |
| 19 years | $17,688 |
| 21 years | $21,550 |
| 23 years | $25,413 |
| 25 years | $29,275 |
Top Solar Installers in Oelwein
Although it's possible to install solar panels on your own, it takes extra time and know-how. Because of that, almost all homeowners choose to hire a solar panel installer. A solar company can also help save you money in the long run by offering warranties, repairs and component replacements.
Working with a licensed solar installer can help your solar project go smoothly. Here are our recommendations:
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
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
See all of the solar companies in Oelwein
Factors that Affect Solar Panel Costs in Oelwein
The cost of installing a solar system in Oelwein can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The most significant one is the size of the system your household needs, and other factors include the equipment you choose, financing options and the solar installer you choose.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a variety of factors. One of the main factors is the system size, which is measured in kilowatts (kW). Solar power systems with greater efficiency or power generation need better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $2,770. There are several different solar panel brands and the one you pick also changes the cost. Usually, the brands that have better efficiency tend to also cost more. In addition, 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
If paying for solar panels in cash is out of reach, solar loans are a popular choice because they reduce your upfront costs and allow you to pay for your system over five to seven years on average. You'll have to consider the long-term cost of loans, including the amount of interest you'll pay over the length of the loan. If you're only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or getting a solar loan with a low APR could reduce your costs remarkably.
Solar Panel Installation Company
The remaining significant cost factor you should take into consideration is the installer you choose. Given the growing popularity of sustainable energy solutions in Oelwein, you'll have a great number of options to choose from, but each comes at different price points for labor and equipment. Additionally, some companies in Oelwein know more about local solar incentives and can help you make good use of additional rebates or tax exemptions. Though, 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 | $17,469 | 10.2 years |
| 8 kW | $2.83 | $15,822 | $23,602 | 10.0 years |
| 10 kW | $2.77 | $19,390 | $29,891 | 9.8 years |
| 12 kW | $2.71 | $22,803 | $36,334 | 9.6 years |
| 14 kW | $2.66 | $26,060 | $42,933 | 9.4 years |
| 16 kW | $2.60 | $29,163 | $49,687 | 9.2 years |
| 18 kW | $2.55 | $32,110 | $56,596 | 9.0 years |
| 20 kW | $2.49 | $34,902 | $63,660 | 8.9 years |
How to Save on Solar Panels
Since the type of solar panels and the company you choose has an impact on your costs and your system's efficiency, production, and durability, it's important to select the right ones for you. Here are some tips to keep in mind to help with your decision:
- Installation Process: When going solar, it's necessary to keep an open line of communication with your solar company. See to it that you understand how the installation process will go and the project completion timeline.
- Solar Panel Brands: The type of solar panel you want plays a part in which company you should go with, since different companies have different panels.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a solid reputation and is qualified to do the job well. Another way you can check your installer's reputation is by reading reviews.
- Contract: Before signing a contract with a solar installer, make sure you read it through completely so you understand the terms. Also, ask questions if you're not certain about some of the terms, such as what the warranty covers and if there are any guarantees about energy production.
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
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
EcoWatch's Oelwein, IA Solar Cost FAQs
How much does it cost to install solar panels in Oelwein?
The average cost of solar panels in Oelwein 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 things like the kind of solar panels you want, what size system you need and how much energy you use.
Are solar panels free in Oelwein?
A solar panel system isn't free in Oelwein, but there are some options that can make getting them more affordable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that you can take advantage of.
How will solar panels impact how much my home is worth?
Installing solar panels on 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 $93,400, which means you can look forward to a value of about $3,829 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Oelwein is a worthwhile investment.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy needs and the average daily 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 install between 20 and 35 panels to cover 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.