Solar Panel Cost Guide in Spirit Lake, IA (2024 Update)

  • Spirit Lake Solar Installation Cost: $27,278
  • 25-Year Savings: $28,050
  • Payback Period: 14.5 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated February 03, 2024

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We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Spirit Lake

Here’s how much it might cost to make the switch to solar in Spirit Lake.

The average cost of a solar system in Spirit Lake is 4 per watt.To account for the typical energy usage of the average home in Spirit Lake, most homeowners require a 9.7-kilowatt system. Using the figure above, a solar installation costs around $27,278, or $39,008 before the federal solar tax credit of 0 is applied.

The actual price you pay can be higher or lower than the average in Spirit Lake based on several factors, such as the brand of solar panels you choose and the solar contractor you hire.For most homeowners, the upfront cost of solar power is worth paying. On average you could be looking at about $18,000 in savings on energy bills over 20 years.

To see your potential savings and connect with a local solar company, click the button below.

Solar savings over time in Spirit Lake

Year Return on Investment
1 years $-25,562
3 years $-22,129
5 years $-18,696
7 years $-15,263
9 years $-11,830
11 years $-8,397
13 years $-4,964
15 years $-1,531
17 years $1,902
19 years $5,335
21 years $8,768
23 years $12,201
25 years $15,634

Top Solar Installers in Spirit Lake

Do-it-yourself solar panel installation is a possibility, but it's an undertaking that can take a lot of hard work. Using an installer can make your swap to solar power much easier. Plus, warranties and repairs from your solar panel company can protect your investment and bring down the cost of maintenance over time.

You can get a free quote from a local solar installer on how much solar panels could cost for your home. Here are some in Spirit Lake:

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
3.2

  • 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

Though the average cost of a solar system in Spirit Lake is $27,278, your final cost may differ. There are quite a few factors that can have a major impact on the cost of a solar panel installation. Below are some of the more crucial things to keep in mind.

Solar Equipment

The size of the solar energy system you need, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by nearly $4,010. The brand and kind of equipment you get for your solar system can raise or lower the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often have a higher price tag than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have limited roof space 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. Plus, if you want extra equipment like an electric vehicle charger or solar batteries, this will also raise the cost.

Solar Financing Terms

Many homeowners find the average cost of solar in Spirit Lake to be prohibitively steep, even if the investment pays off over time. Fortunately, almost every solar installer in the area offers financing options. Solar loans greatly decrease upfront costs for most homeowners, but they also result in higher prices over time because of interest.It’s wise to add the interest you’ll pay in your final cost estimate. If you can afford to pay a higher down payment, you can reduce your total costs and how long it’ll take to pay off the loan.

Solar Panel Installation Company

Lastly, the company you hire to install your solar panels can influence the cost. Spirit Lake’s solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Spirit Lake have more knowledge about local solar incentives and can help you make good use of additional rebates or tax exemptions. Though, they may charge more for walking you through the whole process. 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 $4.17 $17,516 $11,437 15.1 years
8 kW $4.09 $22,905 $15,698 14.8 years
10 kW $4.01 $28,070 $20,184 14.5 years
12 kW $3.93 $33,010 $24,894 14.3 years
14 kW $3.85 $37,726 $29,829 14.0 years
16 kW $3.77 $42,217 $34,989 13.7 years
18 kW $3.69 $46,484 $40,373 13.4 years
20 kW $3.61 $50,526 $45,982 13.1 years

How to Save on Solar Panels

There are a lot of solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you decide on the right company for you, here are some tips to keep in mind:

  • Warranty: A quality company stands out from other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
  • Solar Panel Brands: Each solar panel brand and model has varying levels of quality, longevity and energy efficiency. They will come at different prices as well. The company you choose affects which solar panel brands you have access to.
  • Contract: It’s important to read your solar installer’s contract closely to understand what services they will provide, what the warranty covers and what you can expect about the cost.
  • Installation Process: Make sure you’re aligned with the company in regard to how the installation process will go and what you need to do before your solar panels are installed, such as updating your electrical system or roof.

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
3.2

  • 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

How much does it cost to install solar panels in Spirit Lake?

This is a tough question to answer exactly, because the cost depends on a variety of factors. Broadly speaking, it costs about $20,050 for a 5-kW system and $40,100 for a 10-kW system after the ITC is applied. You can expect to pay more if you want other solar equipment or higher quality panels, or if you have above-average energy needs. On the other hand, you can spend less if you opt for a smaller solar panel system or less efficient solar panels.

Is it better to lease or buy solar panels in Spirit Lake?

Leasing solar panels can be an appealing choice, because it often 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 maximize your savings.

How much can I save on power bills after switching to solar?

It is possible to eradicate your electricity bills with solar panels, but for most homeowners throughout Spirit Lake, that will require at least a 10-kW system. Not all homes will have roofs that can accommodate that size system, so you’ll want to check with a local solar installer to see how many panels can fit on your roof.

How many solar panels do I need to power 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 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.

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