Solar Panel Cost Guide in Waverly, IA (2023 Update)
- Waverly Solar Installation Cost: $18,956
- 25-Year Savings: $28,881
- Payback Period: 9.9 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Waverly
Here's how much it might cost to go solar in Waverly.
The average cost of solar panels in Waverly is 2.77 per watt. Because a 9.8-kW system is needed to cover the energy costs of a typical home in Waverly, the average price of going solar will be about $18,963 after claiming the federal solar tax credit of 30%.
The prices above are just estimates to give you an idea of how much a solar panel system could cost. The true cost of making the switch to solar can vary based on several factors, such as how many panels you need, your energy usage and what solar installer you go with. For many homeowners, the upfront cost of solar is worth paying. On average you could be looking at about $19,000 in savings on energy bills over 20 years.
You can click the button below to get connected with a pre-vetted solar company in Waverly for a quote for your home.
Solar savings over time in Waverly
| Year | Return on Investment |
|---|---|
| 1 years | $-17,239 |
| 3 years | $-13,806 |
| 5 years | $-10,373 |
| 7 years | $-6,940 |
| 9 years | $-3,507 |
| 11 years | $-74 |
| 13 years | $3,359 |
| 15 years | $6,792 |
| 17 years | $10,225 |
| 19 years | $13,658 |
| 21 years | $17,091 |
| 23 years | $20,524 |
| 25 years | $23,957 |
Top Solar Installers in Waverly
Installing solar panels on your own can be a time-consuming undertaking, which is why getting a solar installer is a good option for many homeowners. A solar installer can also help save you money in the long run by providing warranties, repairs and part replacements.
If you're looking for a solar company in Waverly, the EcoWatch team has organized a list of our top suggestions here:
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 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 dependent on several factors. The biggest one is the size of the system your household needs, and other factors include equipment choices, financing options and the solar company you choose.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of installing solar panels. Because of that, it's important to accurately assess the size of the solar energy system needed for your home by figuring out your typical energy use. Some solar brands — like Maxeon from SunPower — are more costly upfront but also tend to offer higher efficiency. In a city like Waverly, where sunlight is relatively abundant, efficiency can quickly pay off. Plus, if you have a small roof or you don't have a lot of 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 difficult, solar loans are an affordable option 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. Though solar loans make adopting solar energy more accessible for Waverly homeowners, they can also add to the total you pay for your system, depending on your interest rate. If you put down a larger down payment, though, you can avoid paying as much in interest.
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. Additionally, some companies in Waverly have more knowledge about local solar incentives and can help you learn about additional rebates or tax exemptions. However, they may charge more for that service. Even if they cost more upfront, they could help you save 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 | $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 installer you go with will influence 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 keep in mind, such as:
- 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 offers varying levels of quality, durability and efficiency. They will come at different prices as well. The company you choose has an impact on which solar panel brands you have access to.
- Reputation: Solar installers that have great reviews from their customers and that have been operating for many years most likely provide good-quality solar panel installation and expertise.
- Contract: Before you sign a contract with a solar company, make sure you read it through completely so you understand the terms. Also, ask questions if you're unsure 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 Waverly, IA Solar Cost FAQs
What is the average cost of installing solar panels in Waverly?
This is a difficult question to answer exactly, because the cost depends on a variety of factors. Broadly 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 additional solar equipment or more efficient panels, or if you have above-average energy needs. On the other hand, you can spend less if you choose a smaller solar panel system or less efficient solar panels.
Can you get solar panels for free in Waverly?
Solar panels aren't free in Waverly, but there are some options that can make getting them more affordable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can help lower the cost.
Is switching to solar power worth it?
Whether or not solar panels are worth it depends on a variety of factors like how much you pay for electricity and how much direct sunlight your roof gets.
What solar power system size is right for 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 house 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.