Solar Panel Cost Guide in Waverly, IA (Mar 2023)
- Waverly Solar Installation Cost: $18,963
- 25-Year Savings: $28,873
- Payback Period: 9.9 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated March 14, 2023
Why you can trust EcoWatch
Average Cost of Solar Panels in Waverly
We break down average solar pricing in Waverly.
Although the national average of solar panels is $2.66 per watt, solar panels in Waverly generally cost around 2.77. To account for the typical energy usage of the average home in Waverly, most homeowners require a 9.8-kilowatt system. Using the per-watt figure above, a solar installation costs around $18,963, or $27,117 before the federal solar tax credit of 30% is applied.
The prices above are just estimates to give you an idea of the cost of solar panels. The true cost of making the switch to solar can vary quite a bit depending on several factors, such as how many panels you need, your energy usage and what company you go with. With typical savings of about $19,000 on utility bills over 20 years, many homeowners in Waverly find going solar can be quite rewarding.
To receive a free estimate from a top solar company in Waverly, you can click the button below.
Solar savings over time in Waverly
| Year | Return on Investment |
|---|---|
| 1 years | $-17,050 |
| 3 years | $-13,223 |
| 5 years | $-9,396 |
| 7 years | $-5,569 |
| 9 years | $-1,742 |
| 11 years | $2,085 |
| 13 years | $5,911 |
| 15 years | $9,738 |
| 17 years | $13,565 |
| 19 years | $17,392 |
| 21 years | $21,219 |
| 23 years | $25,046 |
| 25 years | $28,873 |
Top Solar Installers in Waverly
When switching to solar energy, many homeowners decide to use a solar company since DIY solar panel installation can be a time-consuming project. A solar installer can also help save you money in the long run by offering warranties, repairs and component replacements.
Working with a professional solar company can help your solar project go smoothly. Here are our recommendations:
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
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
See all of the solar companies in Waverly
Factors that Affect Solar Panel Costs in Waverly
The cost of installing a solar system in Waverly can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The most significant one is the size of the system your home needs, and other factors include equipment choices, financing options and the solar installer you choose.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a few different factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems that have higher efficiency or power generation use better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $2,770. There are many different solar panel brands and the one you pick also affects the cost. Generally, the brands that offer higher efficiency tend to also cost more. In addition, the type of equipment you're looking to install can affect your total cost. If you only need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
If paying for a solar system out of pocket is out of reach, solar loans are an affordable choice because they reduce your upfront costs and let you pay for your system over five to seven years on average. It's a good idea 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 the amount of time it'll take to pay off the loan.
Solar Panel Installation Company
Finally, the company you opt for to install your solar panel system can affect your pricing. Waverly's solar companies all have different labor costs and add varying upcharges to equipment. You may come across national solar installers that have lower prices because of their bigger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or specials to compete with those larger companies.
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 | $17,260 | 10.3 years |
| 8 kW | $2.83 | $15,822 | $23,323 | 10.1 years |
| 10 kW | $2.77 | $19,390 | $29,542 | 9.9 years |
| 12 kW | $2.71 | $22,803 | $35,916 | 9.7 years |
| 14 kW | $2.66 | $26,060 | $42,445 | 9.5 years |
| 16 kW | $2.60 | $29,163 | $49,129 | 9.3 years |
| 18 kW | $2.55 | $32,110 | $55,968 | 9.1 years |
| 20 kW | $2.49 | $34,902 | $62,962 | 8.9 years |
How to Save on Solar Panels
The solar panel company you opt for will impact not only your total costs, but also the types of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are several important things you should take into account, including:
- Solar Panel Brands: Different companies offer different brands and types of panels. If you want a specific brand, make sure the solar installer you're considering has it.
- Reputation: Make sure your solar installer has a good reputation by verifying it has certifications and licenses, checking its work history and reading reviews by previous customers and solar experts like EcoWatch.
- Warranty: Warranties that provide coverage for replacement parts and repairs over around 25 years are the best you can get in the business, and offering such a warranty is one indication of a quality company.
- Contract: Although reading through a contract can be tedious, it's important to do it thoroughly so you can make sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
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
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
EcoWatch's Waverly, IA Solar Cost FAQs
How much does it cost to install solar panels in Waverly?
The average cost of solar panels in Waverly is about $13,850 for a 5-kW system and $27,700 for a 10-kW system before the ITC, but the real cost will depend on stuff like the model of solar panels you want, what size system you need and how much energy you use.
Is cost the most important consideration when buying solar panels?
Cost is definitely one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Is it worth going solar in Waverly?
Solar panels can be a great investment for most 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 pretty low, solar panels might not be for you.
How long do solar panels last in Waverly?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger level of energy production.
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.