Solar Panel Cost Guide in Grinnell, IA (2024 Update)
- Grinnell Solar Installation Cost: $26,869
- 25-Year Savings: $29,488
- Payback Period: 14.0 Years
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Average Cost of Solar Panels in Grinnell
Find out what the average cost of solar panels are in Grinnell.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Grinnell, the typical cost of solar panels is 4 per watt.Since a 9.6-kW system is needed to cover the energy consumption of a typical home in Grinnell, the average price of going solar will be about $26,869 after claiming the federal solar tax credit of 0.
These figures are just estimates, and the cost of going solar for you will most likely vary based on the amount of energy your home requires and what company you choose to go with.For most homeowners, the upfront investment in solar panels is worth paying. On average homeowners in Grinnell see about $19,000 in savings on electricity bills over 20 years.
For a personalized quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Grinnell
| Year | Return on Investment |
|---|---|
| 1 years | $-25,153 |
| 3 years | $-21,720 |
| 5 years | $-18,287 |
| 7 years | $-14,854 |
| 9 years | $-11,421 |
| 11 years | $-7,988 |
| 13 years | $-4,555 |
| 15 years | $-1,122 |
| 17 years | $2,311 |
| 19 years | $5,744 |
| 21 years | $9,177 |
| 23 years | $12,610 |
| 25 years | $16,043 |
Top Solar Installers in Grinnell
Although it's possible to install solar panels yourself, it requires extra labor and knowledge. That's why most people choose to go with a solar panel installer. Also, companies with a high reputation that are more expensive upfront could actually save you money in the long run with their warranties, repair services and expert design.
If you’d like to go solar but still aren’t certain which solar system company to go with, here are our suggestions for providers in Grinnell:
See all of the solar companies in Grinnell
Factors that Affect Solar Panel Costs in Grinnell
For many Grinnell homeowners, the decision to go solar comes down to cost. However, the range of solar installation costs can be quite wide in Grinnell, with typical prices between $20,000 to $40,000. There are a few factors that significantly influence the price you’ll pay, which we'll go over below.
Solar Equipment
One of the most important factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more power your household consumes, the larger your system will likely need to be. You can expect to pay about $4,010 per kilowatt in Grinnell.The solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you get the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. On the other hand, more efficient panels could save you more in the long run on your electric bills. Additionally, extra products, like solar batteries, can bring your total well above the Grinnell average.
Solar Financing Terms
Many homeowners find the average cost of solar in Grinnell to be too expensive, even if the investment pays off over time. Fortunately, almost every solar installer in the area provides access to financing options. Solar loans substantially decrease upfront costs in most cases, but they also result in a higher cost over time due to interest.When considering your overall cost, you should also calculate the interest you’ll pay if you choose to go with a solar loan. Also, paying more upfront can reduce the total interest paid over time.
Solar Panel Installation Company
The solar installer you hire to handle your switch to green energy can have an effect on your total costs. There are about 3 solar installation companies in Grinnell, and each can charge different amounts for labor and equipment.Companies that only sell high-efficiency and high-priced products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come at a higher cost. It’s best to do some research and choose a company that offers the products, warranties and services you’re looking for and also fits within 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 | $12,601 | 14.5 years |
| 8 kW | $4.09 | $22,905 | $17,251 | 14.3 years |
| 10 kW | $4.01 | $28,070 | $22,125 | 14.0 years |
| 12 kW | $3.93 | $33,010 | $27,224 | 13.7 years |
| 14 kW | $3.85 | $37,726 | $32,547 | 13.4 years |
| 16 kW | $3.77 | $42,217 | $38,095 | 13.1 years |
| 18 kW | $3.69 | $46,484 | $43,867 | 12.9 years |
| 20 kW | $3.61 | $50,526 | $49,864 | 12.6 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Since picking a company can be a challenge, we have some tips to help you, such as:
- Solar Panel Brands: Different companies have different brands and kinds of panels. If you know you want a specific brand, make sure the solar panel company you’re considering has it.
- Installation Process: Get detailed information from your solar company about the installation process and what to expect, such as when the site survey will be done and what the project timeline is.
- Contract: Review the contract terms thoroughly to make sure you understand the total cost, project completion timeline incentives and warranties.
- Warranty: Many companies offer different kinds of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
EcoWatch's Grinnell, IA Solar Cost FAQs
What is the average cost of installing solar panels in Grinnell?
The average cost of solar panels in Grinnell 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 stuff such as the model of solar panels you want, what size system you need and how much energy you use.
Is it better to lease or buy solar panels in Grinnell?
Leasing solar panels can be an appealing choice, as it often 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 way to go if you want to get the most savings.
Can solar panels significantly reduce my electricity bills?
Solar panels can potentially eliminate your electricity bills depending on where you’re located and how much sunlight your home gets. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $1,003.90 per year.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy needs and the amount of sunlight your roof gets. You can look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to buy between 20 and 35 panels to account for their typical energy usage.
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.