Solar Panel Cost Guide in Red Oak, IA (2023 Update)
- Red Oak Solar Installation Cost: $18,105
- 25-Year Savings: $24,300
- Payback Period: 10.7 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Red Oak
Let's take a look at the average cost of solar in Red Oak.
The national average cost of solar panels is $2.66 per watt, but in Red Oak it's 2.77 per watt. Because a 9.3-kW system is needed to cover the energy consumption of a typical home in Red Oak, the average price of going solar will be about $18,110 after claiming the federal solar tax credit of 30%.
These figures are only estimates, and the cost of going solar for you may vary based on your specific situation and what company you want to go with. For most homeowners, the upfront cost of solar panels is worth paying. On average homeowners in Red Oak see about $17,000 in savings on electricity bills over 20 years.
To receive a free quote from a pre-vetted solar installation company in Red Oak, you can click the button below.
Solar savings over time in Red Oak
| Year | Return on Investment |
|---|---|
| 1 years | $-17,963 |
| 3 years | $-17,681 |
| 5 years | $-17,398 |
| 7 years | $-17,115 |
| 9 years | $-16,833 |
| 11 years | $-16,550 |
| 13 years | $-16,267 |
| 15 years | $-15,984 |
| 17 years | $-15,702 |
| 19 years | $-15,419 |
| 21 years | $-15,136 |
| 23 years | $-14,854 |
| 25 years | $-14,571 |
Top Solar Installers in Red Oak
Installing solar panels yourself can be a time-consuming task, which is why getting a solar installer is a good option for many homeowners. Also, companies with a good reputation that are more expensive upfront could actually save you money in the long run because of their warranties, repair services and expert design.
Working with a vetted solar installer can help you make the most of your investment in solar. 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
See all of the solar companies in Red Oak
Factors that Affect Solar Panel Costs in Red Oak
The cost of installing a solar system in Red Oak can vary by more than $10,000 from home to home. Your actual cost depends 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
When it comes to estimating the price of a solar energy system in Red Oak, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home's energy usage, which you can figure out by looking at past electricity bills. Your total cost can increase by around $2,770 for each additional kilowatt you need. The model of solar panels and equipment you get is another factor that will largely influence costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to come at a higher price. Plus, solar equipment goes beyond just the solar panels themselves. You'll also need to consider the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when looking for a solar system that's in your budget.
Solar Financing Terms
If paying for solar panels in cash is difficult, solar loans are a solid route because they cut back your upfront costs and let you pay for your system over five to seven years on average. When figuring out your overall cost, you should also calculate the interest you'll pay if you opt for a solar loan. Also, paying more on your down payment can reduce the total interest paid over time.
Solar Panel Installation Company
The solar installer you opt for to handle your switch to solar energy can play a role in your total costs. There are about 3 solar panel companies operating in Red Oak, and each can charge varying amounts for labor and equipment. The size of the company can sometimes play the most significant role in your costs. Larger national companies, like SunPro and Sunrun, often have lower prices because they have more resources and better pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or promotion can bring their pricing lower to compete with bigger companies.
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 solar 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 take into account, such as:
- Reputation: Your solar installer should have a sound reputation as a company and have proven expertise in the field. A couple of 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 good reviews from past customers.
- 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 panels are installed, such as repairing your electrical system or roof.
- Solar Panel Brands: Not all solar companies carry the same brands of solar panels, so the brand and type of panel you want can play a significant role in the company you choose.
- Contract: Even though reading through a contract can take a lot of time, it's important to do it thoroughly so you can make sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
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
How much does it cost to install 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 actual cost will depend on stuff such as the model of solar panels you want, what size system you need and how much energy you consume.
Is it better to lease or buy solar panels in Red Oak?
Leasing solar panels can be an option if you are unable to pay upfront or get a solar loan, but since you don't own the system, you can't take advantage of many solar incentives. Also your home value won't increase, so you'll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most bang for your buck from going solar.
Does Red Oak have a net metering program?
Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just give you credit toward your future power bills.
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 choose to replace them after having 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.