Solar Panel Cost Guide in Red Oak, IA (Mar 2023)
- Red Oak Solar Installation Cost: $18,110
- 25-Year Savings: $24,294
- Payback Period: 10.7 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Red Oak
We go over average solar pricing in Red Oak.
In Red Oak, solar panels cost about 2.77 per watt on average. The average Red Oak homeowner needs a 9.3-kilowatt system, which would cost about $18,110 with the federal tax credit, or $25,897 before the 30% tax credit is applied.
How much you pay can go above or below the average in Red Oak depending on a few factors, such as the kind of solar panels you choose and the solar contractor you hire. But, after you've paid the upfront cost of installation, the ROI for most homeowners is usually good, with a net average savings of about $17,000 over 20 years on electricity bills.
For a personalized quote from a local solar installer that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Red Oak
| Year | Return on Investment |
|---|---|
| 1 years | $-16,414 |
| 3 years | $-13,022 |
| 5 years | $-9,629 |
| 7 years | $-6,237 |
| 9 years | $-2,845 |
| 11 years | $548 |
| 13 years | $3,940 |
| 15 years | $7,333 |
| 17 years | $10,725 |
| 19 years | $14,117 |
| 21 years | $17,510 |
| 23 years | $20,902 |
| 25 years | $24,294 |
Top Solar Installers in Red Oak
Installing solar panels on your own can be a time-consuming project, which is why using a solar installer is a good option for many homeowners. Plus, if you aren't sure what brand of solar panels and equipment you may need, a solar installer can help you figure that out after a site survey and consultation.
You can get a free quote from a local solar installer on the cost of solar panels for your home. Here are some nearby:
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 Red Oak
Factors that Affect Solar Panel Costs in Red Oak
For many Red Oak homeowners, the decision to install solar panels rests on cost. However, the range of solar installation costs can be quite wide in Red Oak, with typical prices between $20,000 to $40,000. There are numerous factors that greatly influence the price you'll pay, which we'll go over below.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of going solar. For that reason, it's important to accurately gauge the size of the solar energy system needed for your home by figuring out your energy needs. The brand and type of equipment you choose for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these are often more expensive 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 will be looking at a higher equipment cost, but this can typically lead to greater savings over time. Also, if you want additional equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be financially overwhelming. Solar loans are offered by most installers in Red Oak, which can lower, or in some cases totally eliminate, your upfront costs to make solar more accessible. When figuring out your overall cost, you should also calculate the interest you'll pay if you decide on a solar loan. Also, paying a higher down payment can reduce the total interest paid over time.
Solar Panel Installation Company
The solar panel installer you pick will affect your total cost to adopt solar energy. Different companies will charge different amounts for the equipment and labor. Some companies only sell high-efficiency and high-priced products — 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 provides the products, warranties and services you want and also fit into 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 | $2.88 | $12,099 | $15,150 | 11.1 years |
| 8 kW | $2.83 | $15,822 | $20,510 | 10.9 years |
| 10 kW | $2.77 | $19,390 | $26,025 | 10.7 years |
| 12 kW | $2.71 | $22,803 | $31,695 | 10.5 years |
| 14 kW | $2.66 | $26,060 | $37,521 | 10.2 years |
| 16 kW | $2.60 | $29,163 | $43,501 | 10.0 years |
| 18 kW | $2.55 | $32,110 | $49,637 | 9.8 years |
| 20 kW | $2.49 | $34,902 | $55,928 | 9.6 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Since selecting a company can be a tough decision, we have some tips to help you, such as:
- Installation Process: Homeowners should understand how exactly the installation process will be carried out, as well as important factors like the completion timeline.
- Solar Panel Brands: Different companies will have various brands and kinds of panels. If you want a specific brand, make sure the solar panel installer you're considering has it.
- Reputation: Solar system installers that have great reviews from their customers and that have been in business for many years in most cases offer high-quality solar panel installation and expertise.
- Contract: Before signing a contract with a solar company, be sure to look it over carefully so you understand the terms. Also, ask questions if you're not sure about some of the terms, such as what to do if a part breaks or malfunctions and what services you can expect from them.
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 Red Oak, IA Solar Cost FAQs
What is the average cost of installing solar panels in Red Oak?
The average cost of solar panels in Red Oak 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 such as the kind of solar panels you want, what size system you need and how much energy you use.
Is it better to lease or buy solar panels in Red Oak?
Leasing solar panels can be an attractive choice, because it typically 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 option if you want to get the most savings.
How will installing solar panels impact my property value?
Solar panels can increase the value of your home considerably as long as you buy or finance your panels and don't go for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing a solar system."
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 should be disposed of at that time. What this means is their energy production will have decreased significantly after that point. You can opt 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.