Solar Panel Cost Guide in Red Oak, IA (2024 Update)
- Red Oak Solar Installation Cost: $26,209
- 25-Year Savings: $24,300
- Payback Period: 15.5 Years
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Average Cost of Solar Panels in Red Oak
We break down average solar pricing in Red Oak.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Red Oak, the average cost of solar panels is 4 per watt.To account for the typical energy needs of the average home in Red Oak, most homeowners require a 9.3-kilowatt system. Using the figure above, a solar installation costs around $26,209, or $37,479 before the federal solar tax credit of 0 is applied.
These figures are just averages, and the cost of going solar for you may differ based on your specific situation and what company you go with.Despite the significant upfront cost, the average Red Oak homeowner can save around $17,000 on their electricity bills over 20 years, which is one of the benefits of solar.
You can click the button below to get connected with a pre-vetted solar company in Red Oak for a quote for your home.
Solar savings over time in Red Oak
| Year | Return on Investment |
|---|---|
| 1 years | $-25,141 |
| 3 years | $-23,006 |
| 5 years | $-20,870 |
| 7 years | $-18,734 |
| 9 years | $-16,598 |
| 11 years | $-14,463 |
| 13 years | $-12,327 |
| 15 years | $-10,191 |
| 17 years | $-8,055 |
| 19 years | $-5,919 |
| 21 years | $-3,784 |
| 23 years | $-1,648 |
| 25 years | $488 |
Top Solar Installers in Red Oak
Trying to install solar panels by yourself can be a difficult task, which is why hiring a solar installer is a good option for many homeowners. Some solar companies, particularly local ones, can help you make the most of incentives in Red Oak, optimizing your ROI.
Working with a vetted solar installer can help you make the most of your investment in solar. Here are our recommendations:
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 Red Oak
Factors that Affect Solar Panel Costs in Red Oak
Cost is typically one of the most important factors for homeowners considering investing in solar. There are a few key factors that will push your cost above or below the average in Red Oak: solar equipment and system size, financing options and the solar installation company you choose. We’ll go over each of these briefly below.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more power your household consumes, the larger your system will likely need to be. You can expect to spend about $4,010 per kilowatt in Red Oak.The brand of solar panels and equipment you get is another factor that will significantly impact costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to come at a higher price. Plus, solar equipment is more than just the solar panels themselves. You’ll also need to decide on the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when researching a solar system that falls within your budget.
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 Red Oak homeowners opt to finance their solar panel systems to make paying for solar more affordable.It’s a good idea to add the interest you’ll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and the amount of time it’ll take to pay back the loan.
Solar Panel Installation Company
Lastly, the company you hire to install your solar system can influence how much you pay. Red Oak’s solar companies all have different labor costs and add varying upcharges to equipment. Larger national companies generally have lower costs, but some local companies undercut them by promoting sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or additional services like electric car charger installation, they might be cheaper overall.
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 | $9,733 | 16.1 years |
| 8 kW | $4.09 | $22,905 | $13,427 | 15.8 years |
| 10 kW | $4.01 | $28,070 | $17,345 | 15.5 years |
| 12 kW | $3.93 | $33,010 | $21,487 | 15.1 years |
| 14 kW | $3.85 | $37,726 | $25,855 | 14.8 years |
| 16 kW | $3.77 | $42,217 | $30,446 | 14.5 years |
| 18 kW | $3.69 | $46,484 | $35,263 | 14.2 years |
| 20 kW | $3.61 | $50,526 | $40,304 | 13.9 years |
How to Save on Solar Panels
The solar installer you opt for will influence 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 some important things you should consider, such as:
- Solar Panel Brands: The model of solar panel you want plays a role in which installer you should go with, since different companies have different panels.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for sustainable energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a good reputation and is qualified to get the job done well. Another way you can research your installer’s reputation is by reading reviews.
- Contract: Review the contract terms closely to make sure you understand the overall cost, completion timeline rebates and warranties.
- Warranty: A quality company rises above other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
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 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 $20,050 for a 5-kW system and $40,100 for a 10-kW system before the ITC, but the real cost will depend on things such as the type of solar panels you want, what size system you need and how much energy you use.
Are solar panels free in Red Oak?
You can’t get solar panels for free in Red Oak. However, you may still be able to get them on a lower budget. You can lease solar panels for a low upfront cost or, if you want to own your solar panels, you can finance them with a solar loan.
Do solar panels increase how much your home is worth?
Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Red Oak is currently $107,691, so you can expect a value of about $4,415 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Red Oak is a fruitful investment.
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 the amount of energy they produce will have decreased significantly after that point. You can opt to replace them after having 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.