Solar Panel Cost Guide in Storm Lake, IA (2024 Update)
- Storm Lake Solar Installation Cost: $27,055
- 25-Year Savings: $24,441
- Payback Period: 15.7 Years
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Average Cost of Solar Panels in Storm Lake
Find out what the average cost of solar panel installation is in Storm Lake.
The national average cost of solar panels is $2.66 per watt, but in Storm Lake it’s 4 per watt.The average solar panel system size in Storm Lake is around 9.6 kilowatts, meaning a cost of about $27,055 for a solar installation, or $38,689 before the 0 federal solar tax credit is applied.
The prices above are just estimates to give you an idea of the cost of a solar panel system. The actual cost of installing solar panels can vary depending on multiple factors, such as what size system you need, your energy consumption and what installation company you go with.For most homeowners, the upfront cost of solar is worth paying. On average you could be looking at about $17,000 in savings on electricity bills over 20 years.
To receive a free quote from a vetted solar company in Storm Lake, you can click the button below.
Solar savings over time in Storm Lake
| Year | Return on Investment |
|---|---|
| 1 years | $-25,987 |
| 3 years | $-23,851 |
| 5 years | $-21,715 |
| 7 years | $-19,579 |
| 9 years | $-17,444 |
| 11 years | $-15,308 |
| 13 years | $-13,172 |
| 15 years | $-11,036 |
| 17 years | $-8,901 |
| 19 years | $-6,765 |
| 21 years | $-4,629 |
| 23 years | $-2,493 |
| 25 years | $-357 |
Top Solar Installers in Storm Lake
When going solar, many homeowners choose to hire a solar installation company since handling can be a challenging project. In addition, if you’d like to maximize your investment in solar energy, opting for a solar company can help with that too. Different providers can offer repairs, expertise on how to install solar panels and sometimes even information on local incentives and net metering programs.
There are various licensed solar professionals that can help you install your solar system. Here are our suggestions:
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 Storm Lake
Factors that Affect Solar Panel Costs in Storm Lake
Cost is usually one of the most important factors for homeowners who want to invest in solar. There are a few major factors that will push your cost above or below the average in Storm Lake: solar equipment and system size, financing options and the solar installation company you choose. We’ll cover 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 energy your household consumes, the larger your system will likely need to be. You can expect to pay about $4,010 per kilowatt in Storm Lake.Some solar panel brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer better efficiency. In a city like Storm Lake, where sunlight is relatively abundant, efficiency can quickly pay off. Also, if you have a small roof or limited space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
If paying for a solar system in cash is too expensive, solar loans are an affordable route because they cut back your upfront costs and allow you to pay for your system over five to seven years on average.It’s wise to include 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 back the loan.
Solar Panel Installation Company
The solar company you pick will affect your total cost to make the switch to solar power. Different companies will bill different amounts for the equipment and labor.Additionally, some companies in Storm Lake know more about local solar incentives and can help you take advantage 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 | $9,333 | 16.3 years |
| 8 kW | $4.09 | $22,905 | $12,894 | 16.0 years |
| 10 kW | $4.01 | $28,070 | $16,678 | 15.7 years |
| 12 kW | $3.93 | $33,010 | $20,688 | 15.4 years |
| 14 kW | $3.85 | $37,726 | $24,922 | 15.1 years |
| 16 kW | $3.77 | $42,217 | $29,380 | 14.7 years |
| 18 kW | $3.69 | $46,484 | $34,063 | 14.4 years |
| 20 kW | $3.61 | $50,526 | $38,971 | 14.1 years |
How to Save on Solar Panels
Since the model of solar panels and the company you choose has an impact on your costs and your system’s efficiency, production, and durability, it’s important to select the right ones for you. Here are some tips to keep in mind to help with your decision:
- Reputation: Well-established companies likely have a solid reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide adequate aftercare and customer service, such as part repairs and replacements.
- Solar Panel Brands: The brand of solar panel you need plays a role in which company you should opt for, since different companies have different panels.
- Installation Process: When going solar, it’s important to keep an open line of communication with your solar company. Confirm that you understand how the installation process will go and the completion timeline.
- Warranty: A high-quality company stands out from other companies by providing 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 Storm Lake, IA Solar Cost FAQs
What is the average cost of installing solar panels in Storm Lake?
This is a hard question to answer exactly, because the cost depends on many 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. It will be more expensive if you want extra solar equipment or higher quality panels, or if you have above-average energy needs. Conversely, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.
Is it better to lease or buy solar panels in Storm Lake?
Leasing solar panels can be an option if you can’t pay upfront or secure a solar loan, but since you don’t own the system, you don’t have access to 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 savings from going solar.
Is making the switch to solar worth it?
Whether or not solar panels are worth it depends on some different factors like local electricity rates and how much direct sunlight your roof gets.
How often do you have to replace solar panels?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely 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 once you've had 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.