Solar Panel Cost Guide in Iowa Colony, TX (Mar 2023)
- Iowa Colony Solar Installation Cost: $13,746
- 25-Year Savings: $23,442
- Payback Period: 9.2 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Iowa Colony
We break down average solar pricing in Iowa Colony.
In Iowa Colony, solar panels cost about 2.69 per watt on average. The average Iowa Colony homeowner needs a 7.3-kilowatt system, which would cost about $13,746 with the federal tax credit, or $19,657 before the 30% tax credit is applied.
The prices above are just estimates to give you an idea of how much solar panels could cost. The true cost of installing solar panels can vary based on a few factors, such as how many panels you need, your energy consumption and what solar installer you go with. Many homeowners find installing solar panels is a fruitful investment. The average homeowner in Iowa Colony can save around $20,000 on their energy bills over 20 years.
To get a free estimate from a highly rated solar company in Iowa Colony, you can click the button below.
Solar savings over time in Iowa Colony
| Year | Return on Investment |
|---|---|
| 1 years | $-12,258 |
| 3 years | $-9,283 |
| 5 years | $-6,308 |
| 7 years | $-3,333 |
| 9 years | $-358 |
| 11 years | $2,617 |
| 13 years | $5,592 |
| 15 years | $8,567 |
| 17 years | $11,542 |
| 19 years | $14,517 |
| 21 years | $17,492 |
| 23 years | $20,467 |
| 25 years | $23,442 |
Top Solar Installers in Iowa Colony
Many homeowners opt for a solar panel installer since installing solar panels by yourself can be a lot of work. Plus, if you're unsure what type of solar panels and equipment you want, a solar company can help you find the right equipment for you after a site survey and consultation.
If you'd like to start using solar energy but still aren't certain which solar system company to go with, here are our recommendations for providers nearby:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
See all of the solar companies in Iowa Colony
Factors that Affect Solar Panel Costs in Iowa Colony
Though the average cost of a solar system in Iowa Colony is $13,746, your actual cost may be higher or lower than that. There are several factors that can have a major impact on the cost of a residential solar panel installation. Below are some of the more important things to consider.
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 electricity your household uses, the larger your system will likely need to be. You can expect to pay about $2,690 per kilowatt in Iowa Colony. There are many different solar panel brands and the one you pick also affects the cost. Generally, the brands that are more efficient tend to also cost more. In addition, the type of equipment you're looking to install can affect your total cost. If you just need panels, your system will be much 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 Iowa Colony to be too expensive, even if the investment pays off over time. Thankfully, nearly every solar installer in the area offers financing options. Solar loans drastically decrease upfront costs for most homeowners, but they also result in a higher cost over time due to interest. You'll have to consider the long-term cost of financing options, including the amount of interest you'll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the principal cost. Making a larger down payment or securing a solar loan with a low APR could reduce your costs remarkably.
Solar Panel Installation Company
The remaining key cost factor you should take into consideration is the installer you choose. Given the massive popularity of green energy solutions in Iowa Colony, you'll have lots of options to choose from, but each comes at various price points for labor and equipment. Larger national companies typically have lower costs, but some local companies compete with them by offering sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or additional 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 | $2.80 | $11,750 | $18,820 | 9.6 years |
| 8 kW | $2.74 | $15,365 | $25,395 | 9.4 years |
| 10 kW | $2.69 | $18,830 | $32,120 | 9.2 years |
| 12 kW | $2.64 | $22,144 | $38,996 | 9.1 years |
| 14 kW | $2.58 | $25,308 | $46,022 | 8.9 years |
| 16 kW | $2.53 | $28,320 | $53,199 | 8.7 years |
| 18 kW | $2.47 | $31,182 | $60,527 | 8.5 years |
| 20 kW | $2.42 | $33,894 | $68,006 | 8.3 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Because choosing a company can be difficult, we have some tips to help you, such as:
- Warranty: A comprehensive, long-term warranty can help keep your solar system running for years to come and save you money on repairs and maintenance.
- Solar Panel Brands: The type of solar panel you'd like to get plays a role in which company you should choose, since different companies have different panels.
- Contract: It's important to look over your solar installer's contract closely to understand what services they will provide, what the warranty covers and what you can expect about the cost.
- Reputation: Companies that have been operating for many years likely have a good reputation. This is important because it ensures that it will not only see your solar project through, but will also provide quality aftercare and customer support, such as part repairs and replacements.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
EcoWatch's Iowa Colony, TX Solar Cost FAQs
How much does it cost to install solar panels in Iowa Colony?
The average cost of solar panels in Iowa Colony is about $13,450 for a 5-kW system and $26,900 for a 10-kW system before the ITC, but the real cost will depend on stuff like the kind of solar panels you want, what size system you need and how much energy you use.
Can you get solar panels for free in Iowa Colony?
You can't get solar panels for free in Iowa Colony. However, you may still be able to install them on a lower budget. You can lease solar panels for a low upfront cost or, if you'd rather own your solar panels, you can finance them with a solar loan.
Can you sell solar power back to the grid in Iowa Colony?
Most states have net metering programs of some kind. Through these, you can either get paid for the extra power your system generates or or receive credits to put toward future utility bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.
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 how much 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 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.