Solar Panel Cost Guide in Spirit Lake, IA (2023 Update)
- Spirit Lake Solar Installation Cost: $18,847
- 25-Year Savings: $28,046
- Payback Period: 10.0 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Spirit Lake
Find out what the average cost of a solar system is in Spirit Lake.
While the national average of solar panels is $2.66 per watt, solar panels in Spirit Lake generally cost around 2.77. Using this figure, a typical 9.7-kW system would cost about $18,847 before the 30% federal solar tax credit is applied.
Remember that the numbers above are only averages. The price you'll end up paying for solar may look quite different based on your household energy consumption, the type of equipment you choose, your solar contractor and more. For many homeowners, the upfront investment in solar is worth paying. On average you could be looking at about $18,000 in savings on utility bills over 20 years.
For a free quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Spirit Lake
| Year | Return on Investment |
|---|---|
| 1 years | $-16,971 |
| 3 years | $-13,220 |
| 5 years | $-9,468 |
| 7 years | $-5,717 |
| 9 years | $-1,965 |
| 11 years | $1,786 |
| 13 years | $5,538 |
| 15 years | $9,289 |
| 17 years | $13,041 |
| 19 years | $16,792 |
| 21 years | $20,543 |
| 23 years | $24,295 |
| 25 years | $28,046 |
Top Solar Installers in Spirit Lake
Many homeowners choose to hire a solar panel installer since trying to put up solar panels on your own can be a labor-intensive endeavor. Also, companies with a good reputation that are more expensive upfront could actually save you money in the long run with their warranties, repair services and expert design.
There are several licensed solar professionals that can install solar panels for you. Here are our suggestions:
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
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 Spirit Lake
Factors that Affect Solar Panel Costs in Spirit Lake
The cost of installing a solar system in Spirit Lake can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The largest one is the size of the system your household 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 cost of a solar system in Spirit Lake, 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 consumption, which you can figure out by looking at past energy bills. Your total cost can increase by about $2,770 for each additional kilowatt you need. There are many different solar panel brands and the one you pick also changes the cost. In many cases, the brands that have better efficiency tend to also be more expensive. Additionally, the type of equipment you want to install can affect your total cost. If you just 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 solar panels in cash is difficult, solar loans are a solid choice because they lower your upfront costs and let you pay for your system over five to seven years on average. It's wise 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 off the loan.
Solar Panel Installation Company
The solar panel installer you choose will affect your total cost to make the switch to solar energy. Different companies will bill different amounts for the equipment and labor. The company's size sometimes plays the most significant role in the installation costs. Larger national companies, like SunPro and Sunrun, often have lower prices due to access to more resources and bulk pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or discount can bring their pricing down to compete with bigger names.
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 | $16,853 | 10.4 years |
| 8 kW | $2.83 | $15,822 | $22,781 | 10.2 years |
| 10 kW | $2.77 | $19,390 | $28,864 | 10.0 years |
| 12 kW | $2.71 | $22,803 | $35,102 | 9.8 years |
| 14 kW | $2.66 | $26,060 | $41,495 | 9.6 years |
| 16 kW | $2.60 | $29,163 | $48,043 | 9.4 years |
| 18 kW | $2.55 | $32,110 | $54,747 | 9.2 years |
| 20 kW | $2.49 | $34,902 | $61,606 | 9.0 years |
How to Save on Solar Panels
There are a large number of companies available in Spirit Lake, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be difficult, so here are some tips to help you decide:
- Solar Panel Brands: Homeowners will have different preferences for panels based on their roof configurations and how much efficiency they need. Although there are many options for which type of solar panel you can get, not every company will have the exact one you may want or need, so make sure you ask for their list of options before making your decision.
- Installation Process: When making the switch to solar power, it's crucial to keep an open line of communication with your solar panel company. Confirm that you understand how the installation process will go and the project timeline.
- Contract: Review the contract terms closely to make sure you understand the cost breakdown, project timeline incentives and warranties.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for sustainable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a good reputation and is qualified to install your solar system. Another way you can check your installer's reputation is by reading reviews.
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
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 Spirit Lake, IA Solar Cost FAQs
What is the average cost of installing solar panels in Spirit Lake?
This is a tough question to answer precisely, because the cost depends on many factors. Generally speaking, it costs about $13,850 for a 5-kW system and $27,700 for a 10-kW system after the ITC is applied. You can expect to pay more if you want extra solar equipment or more efficient panels, or if you have above-average energy usage. On the other hand, you can spend less if you choose a smaller solar panel system or less efficient solar panels.
Is cost the most important thing to keep in mind when buying solar panels?
Cost is certainly one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
Is switching to solar power worth it?
Solar panels can be a fruitful investment for a majority of homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your electricity bills are already reasonably low, solar panels might not be for you.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy needs and the amount of sunlight your roof gets. You can take a look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to install between 20 and 35 panels to account for their typical energy usage.
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.