Solar Panel Cost Guide in Algona, IA (2024 Update)
- Algona Solar Installation Cost: $27,196
- 25-Year Savings: $32,770
- Payback Period: 13.2 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Why you can trust EcoWatch
Average Cost of Solar Panels in Algona
Let’s take a look at the average cost of solar in Algona.
The national average cost of solar panels is $2.66 per watt, but in Algona it’s 4 per watt.The average Algona homeowner needs a 9.7-kilowatt system, which would cost about $27,196 with the federal tax credit, or $38,890 before the 0 tax credit is applied.
These figures are just averages, and how much solar costs for you will most likely look different based on your specific situation and what company you want to go with.For many homeowners, the upfront cost of solar power is worth paying. On average Algona homeowners see about $20,000 in savings on electricity bills over 20 years.
Click the button below to get connected to a top solar company in Algona for a custom quote.
Solar savings over time in Algona
| Year | Return on Investment |
|---|---|
| 1 years | $-25,480 |
| 3 years | $-22,047 |
| 5 years | $-18,614 |
| 7 years | $-15,181 |
| 9 years | $-11,748 |
| 11 years | $-8,315 |
| 13 years | $-4,882 |
| 15 years | $-1,449 |
| 17 years | $1,984 |
| 19 years | $5,417 |
| 21 years | $8,850 |
| 23 years | $12,283 |
| 25 years | $15,716 |
Top Solar Installers in Algona
When switching to solar energy, many homeowners prefer to hire a solar installer since handling can be a challenging project. The expertise that solar companies provide can be helpful as well, particularly if you don’t quite know what type of solar equipment you need.
If you're searching for a solar company in Algona, the EcoWatch team has put together 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 Algona
Factors that Affect Solar Panel Costs in Algona
Cost is usually one of the most important factors for homeowners who want to invest in solar. There are a few major factors that will push your cost above or below the average in Algona: solar equipment and system size, financing options and the solar installation company you choose. We’ll go over each of these briefly below.
Solar Equipment
When it comes to estimating the price of a solar energy system in Algona, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are primarily based on your home’s energy consumption, which you can figure out by looking at past energy bills. Your total cost can increase by around $4,010 for each additional kilowatt you need.The brand and kind of equipment you want for your solar system can raise or lower the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these often come at a higher price than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have limited roof space or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to more savings over time. Also, if you want additional equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Solar panels can save you money on utility bills over time, but they can also be a big investment. That’s why many Algona homeowners opt to finance their solar panel systems to offset upfront costs.While solar loans make adopting solar energy more accessible for Algona homeowners, they can also increase 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
Lastly, the company you opt for to install your solar panel system can impact the cost. Algona’s solar companies all have different labor costs and add varying upcharges to equipment. Companies that only sell high-quality, high-efficiency and high-price products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally cost more. It’s best to do some research and decide on the company that offers the products, warranties and services you want 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 | $14,411 | 13.7 years |
| 8 kW | $4.09 | $22,905 | $19,664 | 13.5 years |
| 10 kW | $4.01 | $28,070 | $25,142 | 13.2 years |
| 12 kW | $3.93 | $33,010 | $30,844 | 12.9 years |
| 14 kW | $3.85 | $37,726 | $36,771 | 12.7 years |
| 16 kW | $3.77 | $42,217 | $42,922 | 12.4 years |
| 18 kW | $3.69 | $46,484 | $49,297 | 12.1 years |
| 20 kW | $3.61 | $50,526 | $55,898 | 11.9 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 picking a company can be a challenge, we have some tips to help you, such as:
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a solid reputation and is qualified to do the job well. Another way you can check your installer’s reputation is by reading reviews.
- Solar Panel Brands: Each solar panel brand and type offers varying levels of quality, longevity and energy efficiency. They will come at different price points as well. The company you choose has an impact on which solar panel brands you have access to.
- Contract: Though reading through a contract can take a lot of time, it’s important to do it thoroughly so you can be sure you understand what services your solar company will provide and how part repairs and replacements will be handled.
- Warranty: Warranties that cover panel repairs and maintenance over around 25 years are the gold standard in the business, and offering that kind of warranty is one indication of a quality company.
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 Algona, IA Solar Cost FAQs
What is the average cost of installing solar panels in Algona?
This is a tough question to answer exactly, 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 be more expensive if you want additional solar equipment or higher quality panels, or if you have above-average energy consumption. On the other hand, you can spend less if you choose a smaller solar panel system or cheaper solar panels.
Should I lease or buy solar panels in Algona?
Leasing solar panels can be an appealing choice, as it typically comes with low or $0 upfront payments. The downside is that you won’t be able to save as much. If you lease, you don’t own the system, so you can’t claim any tax rebates and credits and your home value won’t increase. Buying solar panels is a better option if you want to get the most savings.
Is making the switch to solar worth it?
Whether or not solar panels are worth it depends on a variety of factors like how much you pay for electricity and the amount of direct sunlight your roof gets.
How long do solar panels last in Algona?
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 higher amount 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.