Solar Panel Cost Guide in Waverly, IA (2024 Update)
- Waverly Solar Installation Cost: $27,441
- 25-Year Savings: $28,881
- Payback Period: 14.3 Years
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Average Cost of Solar Panels in Waverly
See how much it might cost to go solar in Waverly.
The average cost of a solar panel system in Waverly is 4 per watt.Using this figure, a typical 9.8-kW system would cost about $27,441 before the 0 federal solar tax credit is applied.
Remember that the numbers above are only averages. The price you’ll pay for solar will differ based on your household energy consumption, the type of equipment you want, your solar contractor and more.For most homeowners, the upfront cost of solar is worth paying. On average Waverly homeowners see about $19,000 in savings on utility bills over 20 years.
To receive a free quote from a pre-vetted solar company in Waverly, you can click the button below.
Solar savings over time in Waverly
| Year | Return on Investment |
|---|---|
| 1 years | $-25,725 |
| 3 years | $-22,292 |
| 5 years | $-18,859 |
| 7 years | $-15,426 |
| 9 years | $-11,993 |
| 11 years | $-8,560 |
| 13 years | $-5,127 |
| 15 years | $-1,694 |
| 17 years | $1,739 |
| 19 years | $5,172 |
| 21 years | $8,605 |
| 23 years | $12,038 |
| 25 years | $15,471 |
Top Solar Installers in Waverly
DIY solar panel installation is a way to cut costs, but it's an undertaking that can be a headache. Using a solar company can make swapping over to solar power much easier. The expertise that solar installers offer can be valuable as well, particularly if you aren’t sure what brand of solar equipment you need.
There are several licensed solar professionals that can install solar panels for you. Here are our suggestions:
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 your system size, 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 some different factors. One of the key factors is the system size, which is measured in kilowatts (kW). Solar power systems that have higher efficiency or power production 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 $4,010.There are several different solar panel brands and the one you choose also affects the cost. In general, the brands that offer higher efficiency tend to also cost more. Plus, the type of equipment you’re looking to install can affect your total cost. If you only need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Many homeowners find the average cost of solar in Waverly to be prohibitively steep, even if the investment pays off over time. Thankfully, almost every solar company in the area provides access to financing options. Solar loans drastically decrease upfront costs for most homeowners, but they also result in higher prices over time because of interest.However, the interest on solar loans also adds to your overall costs, so it’s vital to take that into consideration as well. You can always reduce the total you pay in interest and sometimes even your APR by putting more money down.
Solar Panel Installation Company
The last key cost factor you should consider is the installer you choose. Given the booming popularity of green energy solutions in Waverly, you’ll have many options to choose from, but each comes at different price points for labor and equipment.Companies that only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come with an above-average cost. It’s best to do some research and decide on the company that has the products, warranties and services you’re looking for and also fit into your budget.
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 | $11,844 | 14.9 years |
| 8 kW | $4.09 | $22,905 | $16,241 | 14.6 years |
| 10 kW | $4.01 | $28,070 | $20,862 | 14.3 years |
| 12 kW | $3.93 | $33,010 | $25,708 | 14.1 years |
| 14 kW | $3.85 | $37,726 | $30,779 | 13.8 years |
| 16 kW | $3.77 | $42,217 | $36,074 | 13.5 years |
| 18 kW | $3.69 | $46,484 | $41,594 | 13.2 years |
| 20 kW | $3.61 | $50,526 | $47,338 | 12.9 years |
How to Save on Solar Panels
Since the brand 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: Solar panel companies that have great reviews from their customers and that have been in business for many years in most cases provide quality solar panel installation and expertise.
- Contract: When reading over your solar installer’s contract, ask questions about any terms you’re not sure of and be sure you understand what happens in scenarios such as a system part breaking or the company going out of business.
- Warranty: Many companies offer different kinds of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and how much efficiency they need. While there are many options for which type of solar panel you can get, not every company will have access to the exact one you may want or need, so be sure to ask for their list of offerings before making your decision.
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 precisely, because the cost depends on a variety of factors. Generally 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 cost more if you want extra solar equipment or more efficient panels, or if you have higher-than-average energy needs. On the flip side, you can spend less if you choose a smaller solar panel system or less expensive solar panels.
What other factors should I consider apart from cost when buying solar panels?
Cost is definitely one of the most important things to bear 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 good investment for many homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your power bills are already fairly low, solar panels might not be for you.
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 are completely unusable at that time. What this means is their energy production will have decreased significantly after that point. You can decide to replace them once you've had them for that long or you can keep using 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.