Solar Panel Cost Guide in Ottumwa, IA (2024 Update)
- Ottumwa Solar Installation Cost: $26,703
- 25-Year Savings: $30,311
- Payback Period: 13.7 Years
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Average Cost of Solar Panels in Ottumwa
Find out what the average cost of a solar system is in Ottumwa.
The average cost of solar panels in Ottumwa is 4 per watt.The average Ottumwa homeowner needs a 9.5-kilowatt system, which would cost about $26,703 with the federal tax credit, or $38,185 before the 0 tax credit is applied.
How much you pay can go higher or lower than the average in Ottumwa based on a variety of factors, such as the type of solar panels you choose and the solar contractor you hire.With average savings of about $19,000 on electricity bills over 20 years, many homeowners in Ottumwa find going solar has a decent ROI.
You can click the button below to get connected with a vetted solar installer in Ottumwa that can help you get a more accurate cost estimate for your home.
Solar savings over time in Ottumwa
| Year | Return on Investment |
|---|---|
| 1 years | $-24,987 |
| 3 years | $-21,554 |
| 5 years | $-18,121 |
| 7 years | $-14,688 |
| 9 years | $-11,255 |
| 11 years | $-7,822 |
| 13 years | $-4,389 |
| 15 years | $-956 |
| 17 years | $2,477 |
| 19 years | $5,910 |
| 21 years | $9,343 |
| 23 years | $12,776 |
| 25 years | $16,209 |
Top Solar Installers in Ottumwa
Although you can install solar panels by yourself, it requires extra effort and handiness. For that reason, the majority of homeowners choose a solar panel installer. The expertise that solar installers provide can be valuable as well, especially if you don’t quite know what type of solar equipment would be right for your home.
If you’d like to switch to solar energy but still aren’t sure which solar company to go with, here are our recommendations for providers nearby:
See all of the solar companies in Ottumwa
Factors that Affect Solar Panel Costs in Ottumwa
The cost of installing a solar system in Ottumwa can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The most significant one is the size of the system your home needs, and other factors include the equipment you choose, financing options and the solar installer you choose.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of going solar. That’s why it’s a priority to accurately assess the size of the solar energy system needed for your home by figuring out your energy needs.There are many different solar panel brands and the one you pick also affects the cost. In general, the brands that offer higher efficiency tend to also be more expensive. In addition, the type of equipment you want to install 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 a solar system out of pocket is out of reach, solar loans are an affordable route because they cut back your upfront costs and allow you to pay for your system over five to seven years on average.Though solar loans make switching to solar energy more accessible for Ottumwa homeowners, they can also raise the total you pay for your system due to interest. If you put down a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
The solar company you hire to handle your switch to renewable energy can play a part in your total costs. There are about 3 solar panel companies in Ottumwa, and each can charge different amounts for labor and equipment.Some companies only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come at a higher cost. It’s best to do some research and go with the company that has the products, warranties and services you want and also fits within your budget.
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 | $13,236 | 14.2 years |
| 8 kW | $4.09 | $22,905 | $18,097 | 14.0 years |
| 10 kW | $4.01 | $28,070 | $23,182 | 13.7 years |
| 12 kW | $3.93 | $33,010 | $28,492 | 13.4 years |
| 14 kW | $3.85 | $37,726 | $34,027 | 13.1 years |
| 16 kW | $3.77 | $42,217 | $39,786 | 12.9 years |
| 18 kW | $3.69 | $46,484 | $45,770 | 12.6 years |
| 20 kW | $3.61 | $50,526 | $51,978 | 12.3 years |
How to Save on Solar Panels
The solar panel company you go with will impact not only your overall costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are several important things you should consider, including:
- Warranty: An all-inclusive, long-term warranty can help keep your solar panels running for years to come and save you money on repairs and maintenance.
- Contract: Even though reading through a contract can take a lot of time, it’s important to do it fully so you can make sure you understand what services your solar company will provide and how part repairs and replacements will be handled.
- Installation Process: Make sure you’re aligned with the installer in regard to how the installation process will go and what you need to do before your solar system is installed, such as repairing your electrical system or roof.
- Reputation: Your solar installer should have a good reputation as a company and have demonstrated expertise in the field. Two ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from past customers.
EcoWatch's Ottumwa, IA Solar Cost FAQs
What is the average cost of installing solar panels in Ottumwa?
This is a hard question to answer exactly, because the cost depends on many factors. Generally speaking, it costs about $20,050 for a 5-kW system and $40,100 for a 10-kW system after the ITC is applied. It will cost more if you want extra solar equipment or higher quality panels, or if you have higher-than-average energy usage. On the flip side, you can spend less if you want a smaller solar panel system or cheaper solar panels.
What other factors should I consider aside from cost when buying solar panels?
The initial cost is a very important factor to consider, but whether it’s the most important for you depends on why you decided to go solar. In places where rooftop space is limited, efficiency can trump the cost. Other factors that are important to consider are the quality and durability of your solar panels.
How will 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 Ottumwa is currently $109,473, so you can expect a value of about $4,488 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Ottumwa is a rewarding investment.
How often do you have to replace solar panels?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is how much energy they produce will have decreased significantly after that point. You can decide to replace them once you've had them for that long or you can keep using 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.