Solar Panel Cost Guide in Storm Lake, IA (2023 Update)
- Storm Lake Solar Installation Cost: $18,689
- 25-Year Savings: $24,441
- Payback Period: 10.8 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Storm Lake
Let's take a look at the average cost of solar panels in Storm Lake.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Storm Lake, the typical cost of solar panels is 2.77 per watt. Using this figure, a typical 9.6-kW system would cost about $18,692 before the 30% 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 exact cost of going solar can vary quite a bit depending on a few factors, such as how many panels you need, your energy consumption and what company you go with. Many homeowners find going solar is a rewarding investment. The average homeowner in Storm Lake can save about $17,000 on their electricity bills over 20 years.
To get a free quote from a highly rated solar installer in Storm Lake, you can click the button below.
Solar savings over time in Storm Lake
| Year | Return on Investment |
|---|---|
| 1 years | $-17,621 |
| 3 years | $-15,485 |
| 5 years | $-13,349 |
| 7 years | $-11,213 |
| 9 years | $-9,078 |
| 11 years | $-6,942 |
| 13 years | $-4,806 |
| 15 years | $-2,670 |
| 17 years | $-535 |
| 19 years | $1,601 |
| 21 years | $3,737 |
| 23 years | $5,873 |
| 25 years | $8,009 |
Top Solar Installers in Storm Lake
Although it's possible to install solar panels yourself, it takes extra effort and know-how. For that reason, most homeowners choose a solar panel installer. Also, companies with an outstanding reputation that are more expensive upfront could actually save you money in the long run due to their warranties, repair services and expert design.
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 Storm Lake:
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 considering investing in solar. There are a few key factors that determine your overall cost 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 installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more power your household consumes, the larger your system will likely need to be. You can expect to pay about $2,770 per kilowatt in Storm Lake. The kind of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you opt for the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. However, higher efficiency could save you more over time on your electric bills. In addition, add-on products, such as solar batteries, can bring your total well above the Storm Lake average.
Solar Financing Terms
If paying for a solar system out of pocket is too expensive, solar loans are a solid route because they cut back your upfront costs and let you pay for your system over a term of, on average, between five and seven years. When trying to figure out your overall cost, you should also calculate the interest you'll pay if you decide on 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 hire to handle your switch to renewable energy can play a part in your total costs. There are about 3 solar installation companies operating in Storm Lake, and each can charge different amounts for labor and equipment. Larger national companies generally have lower costs, but some local companies undercut them by offering sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or add-on services like electric car charger installation, they might be cheaper overall.
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 | $14,750 | 11.3 years |
| 8 kW | $2.83 | $15,822 | $19,976 | 11.0 years |
| 10 kW | $2.77 | $19,390 | $25,358 | 10.8 years |
| 12 kW | $2.71 | $22,803 | $30,895 | 10.6 years |
| 14 kW | $2.66 | $26,060 | $36,587 | 10.4 years |
| 16 kW | $2.60 | $29,163 | $42,435 | 10.2 years |
| 18 kW | $2.55 | $32,110 | $48,437 | 10.0 years |
| 20 kW | $2.49 | $34,902 | $54,595 | 9.7 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 select the right company for you, here are some tips to keep in mind:
- 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 solid reputation and is qualified to install your solar system. Another way you can look into your installer's reputation is by reading reviews.
- Solar Panel Brands: Different companies offer different brands and kinds of panels. If you want a specific brand, make sure the solar panel installer you're considering has it.
- Installation Process: Homeowners should make sure they know how exactly the installation process will go, as well as important factors like the project completion timeline.
- Contract: Before you sign a contract with a solar company, make sure you read it through carefully so you understand the terms. Also, ask questions if you're not certain about some of the terms, such as what the warranty covers and what services you can expect from them.
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 difficult question to answer exactly, because the cost depends on a few different 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. It will be more expensive if you want other solar equipment or more efficient panels, or if you have higher-than-average energy usage. On the flip side, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.
What other factors should I consider in addition to cost when buying solar panels?
The upfront cost is a key factor to consider, but whether it's the most important for you depends on your reasons for going solar. In places where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to take into account are the quality and durability of your solar panels.
Is it worth going solar in Storm Lake?
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 a lot of direct sunlight and/or your electricity bills are already fairly low, solar panels might not be for you.
How many solar panels should I get to power my home?
To figure out how many solar panels you need, you need to know how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can typically produce about 250 to 400 watt-hours per hour, the average home will need 20 to 35 panels.
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.