Solar Panel Cost Guide in Fort Madison, IA (2024 Update)
- Fort Madison Solar Installation Cost: $26,485
- 25-Year Savings: $33,656
- Payback Period: 12.7 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 Fort Madison
Find out what the average cost of installing solar panels is in Fort Madison.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Fort Madison, the average cost of a solar system is 4 per watt.To cover the typical energy usage of the average home in Fort Madison, most homeowners require a 9.4-kilowatt system. Using the per-watt figure above, a solar installation costs about $26,485, or $37,874 before the federal solar tax credit of 0 is applied.
These figures are just estimates, and how much solar costs for you will most likely look different based on the amount of energy your home requires and what company you choose to go with.But, once you've paid the initial cost of installation, the return on investment for most homeowners is quite good, with a net average savings of about $21,000 over 20 years on utility bills.
To see your potential ROI and connect with a local solar installer, click the button below.
Solar savings over time in Fort Madison
| Year | Return on Investment |
|---|---|
| 1 years | $-24,769 |
| 3 years | $-21,336 |
| 5 years | $-17,903 |
| 7 years | $-14,470 |
| 9 years | $-11,037 |
| 11 years | $-7,604 |
| 13 years | $-4,171 |
| 15 years | $-738 |
| 17 years | $2,695 |
| 19 years | $6,128 |
| 21 years | $9,561 |
| 23 years | $12,994 |
| 25 years | $16,427 |
Top Solar Installers in Fort Madison
When switching to solar energy, many homeowners decide to use a solar installation company since putting up a solar system yourself can be a challenging project. Another upside of going with a solar installer is that they can help you make the most of your return of investment by bringing down your future costs of repairs and replacements due to warranties and informing you of local incentives you can take advantage of.
If you’d like to make the switch to solar but still aren’t certain which solar panel company to go with, here are our recommendations for providers near you:
See all of the solar companies in Fort Madison
Factors that Affect Solar Panel Costs in Fort Madison
There are many factors that can play into your total installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that performs the installation.
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 spend around $4,010 per kilowatt in Fort Madison.There are many different solar panel brands and the one you pick also changes the cost. In many cases, the brands that offer higher efficiency tend to also be more expensive. Additionally, 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 in cash is out of reach, solar loans are a solid route because they cut back your upfront costs and let you pay for your system over five to seven years on average.You’ll have to consider the long-term cost of financing options, including the total 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 getting a solar loan with a low interest rate could reduce your costs significantly.
Solar Panel Installation Company
The solar company you choose to handle your switch to solar energy can play a role in your total costs. There are about 3 solar panel companies operating in Fort Madison, and each can charge varying amounts for labor and equipment.The company’s size can sometimes play the most considerable role in the cost of installation. Larger national companies, like SunPro and Sunrun, often have lower prices because of access to more resources and better pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or discount can bring their pricing down to compete with bigger companies.
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 | $15,520 | 13.3 years |
| 8 kW | $4.09 | $22,905 | $21,143 | 13.0 years |
| 10 kW | $4.01 | $28,070 | $26,990 | 12.7 years |
| 12 kW | $3.93 | $33,010 | $33,061 | 12.5 years |
| 14 kW | $3.85 | $37,726 | $39,358 | 12.2 years |
| 16 kW | $3.77 | $42,217 | $45,878 | 12.0 years |
| 18 kW | $3.69 | $46,484 | $52,624 | 11.7 years |
| 20 kW | $3.61 | $50,526 | $59,594 | 11.5 years |
How to Save on Solar Panels
Since the kind of solar panels and the installer 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 things to keep in mind to help with your decision:
- Installation Process: Homeowners should make sure they understand how exactly the installation process will go, as well as important factors like the completion timeline.
- Solar Panel Brands: The kind of solar panel you need plays a part in which company you should go with, since different companies have different panels.
- Contract: It’s important to read your solar installer’s contract fully to understand what services they will provide, what the warranty covers and what you can expect about the cost.
- Reputation: Your solar installer should have a good reputation as a company and have verifiable expertise in the field. A couple of ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has good reviews from previous customers.
EcoWatch's Fort Madison, IA Solar Cost FAQs
What is the average cost of installing solar panels in Fort Madison?
The average cost of solar panels in Fort Madison is about $20,050 for a 5-kW system and $40,100 for a 10-kW system before the ITC, but the real cost will depend on things such as the type of solar panels you want, what size system you need and how much energy you consume.
Should I lease or buy solar panels in Fort Madison?
Leasing solar panels can be an appealing choice, as it commonly comes with low or $0 upfront payments. The drawback 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 incentives and your home value won’t increase. Buying solar panels is a better way to go if you want to maximize your savings.
Can you sell solar power back to the grid in Fort Madison?
Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just give you credit toward your future energy bills.
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 should be disposed of at that time. What this means is the amount of 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 continue to use 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.