Solar Panel Cost Guide in Spencer, IA (Jan 2023)
- Spencer Solar Installation Cost: $18,770
- 25-Year Savings: $25,889
- Payback Period: 10.5 Years
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Top Solar Installers in Spencer
Trying to put up solar panels yourself can be a challenging project, which is why hiring a solar installation company is a good option for many homeowners. The payback period of solar panels will vary depending on factors like your location and energy use, but working with a solar company can shorten it. Your provider will be able to help you apply for incentives available in your area.
Working with a vetted solar installer can make going solar easier. Here are our recommendations:
See all of the solar companies in Spencer
Factors that Affect Solar Panel Costs in Spencer
For many Spencer homeowners, the decision to go solar depends on cost. However, the range of solar installation costs can be quite wide in Spencer, with typical prices between $20,000 to $40,000. There are a number of factors that significantly influence the price you'll pay, which we'll go over below.
System size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of installing solar panels. Because of that, it's crucial to accurately assess the size of the solar energy system needed for your home by figuring out your energy needs. The kind of solar panels and equipment you choose is another factor that will considerably affect costs. Solar panels that are more efficient, like monocrystalline panels, tend to cost more. Further, solar equipment consists of more than just the solar panels themselves. You'll also need to think about the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when searching for a solar system that's in your budget.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be challenging. Solar loans are offered by most installers in Spencer, which can lower, or in some cases totally eliminate, your upfront costs to make solar more affordable. It's wise to factor 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 how long it'll take to pay off the loan.
Solar Panel Installation Company
A final consideration when trying to evaluate the cost of solar for your home or business in Spencer is the company you hire to install your solar panel system. Similar to choosing a company to install new cabinets, for instance, there are plenty of solar installers that provide a range of services for different budgets. Additionally, some companies in Spencer 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 end up saving you 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||$15,572||10.9 years|
|8 kW||$2.83||$15,822||$21,073||10.7 years|
|10 kW||$2.77||$19,390||$26,729||10.5 years|
|12 kW||$2.71||$22,803||$32,540||10.3 years|
|14 kW||$2.66||$26,060||$38,506||10.1 years|
|16 kW||$2.60||$29,163||$44,628||9.9 years|
|18 kW||$2.55||$32,110||$50,904||9.7 years|
|20 kW||$2.49||$34,902||$57,336||9.5 years|
How to Save on Solar Panels
Since the model of solar panels and the company you choose greatly influences your costs and your system's efficiency, production, and durability, it's important to pick the right ones for you. Here are some things to keep in mind to help with your decision:
- Contract: It's important to look over your solar installer's contract carefully to understand what services they will provide, what the warranty covers and what you can expect about the installation process.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their roof configurations and energy needs. While there are many options for which model of solar panel you can get, not every company will have access to the exact one you may want or need, so be sure to peruse their list of offerings before deciding.
- Reputation: Solar system installers that have great reviews from their customers and that have been in business for many years in most cases provide good-quality solar panel installation and expertise.
- Warranty: A comprehensive, long-term warranty can help keep your solar panels running for years to come and save you money on part replacement and repairs.
EcoWatch's Spencer, IA Solar Cost FAQs
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.