Solar Panel Cost Guide in Monticello, IA (2024 Update)
- Monticello Solar Installation Cost: $27,281
- 25-Year Savings: $30,565
- Payback Period: 13.8 Years
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Average Cost of Solar Panels in Monticello
Let’s take a look at the average cost of solar in Monticello.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Monticello, the average cost of a solar system is 4 per watt.The average Monticello homeowner needs a 9.7-kilowatt system, which would cost about $27,281 with the federal tax credit, or $39,012 before the 0 tax credit is applied.
The actual price you pay can be higher or lower than the average in Monticello based on a few factors, such as the model of solar panels you choose and the solar contractor you hire.For most homeowners, the upfront investment in solar power is worth paying. On average homeowners in Monticello see about $19,000 in savings on utility bills over 20 years.
To calculate your potential savings and connect with a local solar installer, click the button below.
Solar savings over time in Monticello
| Year | Return on Investment |
|---|---|
| 1 years | $-25,565 |
| 3 years | $-22,132 |
| 5 years | $-18,699 |
| 7 years | $-15,266 |
| 9 years | $-11,833 |
| 11 years | $-8,400 |
| 13 years | $-4,967 |
| 15 years | $-1,534 |
| 17 years | $1,899 |
| 19 years | $5,332 |
| 21 years | $8,765 |
| 23 years | $12,198 |
| 25 years | $15,631 |
Top Solar Installers in Monticello
When going solar, many homeowners prefer to use a solar company since putting up solar panels yourself can be a challenging project. Also, companies with an outstanding reputation that are more expensive upfront could actually save you money in the long term because of their warranties, repair services and expert design.
If you’d like to start using solar energy but still aren’t sure which solar panel company to go with, here are our recommendations for providers in Monticello:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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 Monticello
Factors that Affect Solar Panel Costs in Monticello
Cost is usually one of the most important factors for homeowners considering investing in solar. There are a few primary factors that affect your total cost in Monticello: 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 solar panels in Monticello, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are chiefly based on your home’s energy usage, which you can determine by looking at past electricity bills. Your total cost can increase by around $4,010 for each additional kilowatt you need.Some solar brands — like Maxeon from SunPower — are more costly upfront but also tend to offer higher efficiency. In a city like Monticello, where sunlight is relatively abundant, efficiency can quickly pay off. Also, if you have a small roof or you don’t have a lot of space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
If paying for solar panels out of pocket is too expensive, solar loans are a solid choice because they cut back your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years.It’s a good idea to include the interest you’ll pay in your final cost estimate. If you can afford to pay a larger down payment, you can reduce your total costs and the amount of time it’ll take to pay back the loan.
Solar Panel Installation Company
The last major cost factor you should consider is the installer you choose. Given the booming popularity of renewable energy solutions in Monticello, you’ll have many options to choose from, but each comes at varying price points for labor and 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 come at a higher cost. It’s best to do some research and choose a company that has 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 | $12,987 | 14.4 years |
| 8 kW | $4.09 | $22,905 | $17,765 | 14.1 years |
| 10 kW | $4.01 | $28,070 | $22,768 | 13.8 years |
| 12 kW | $3.93 | $33,010 | $27,995 | 13.5 years |
| 14 kW | $3.85 | $37,726 | $33,447 | 13.3 years |
| 16 kW | $3.77 | $42,217 | $39,123 | 13.0 years |
| 18 kW | $3.69 | $46,484 | $45,024 | 12.7 years |
| 20 kW | $3.61 | $50,526 | $51,150 | 12.4 years |
How to Save on Solar Panels
Since the brand of solar panels and the installer you choose considerably impacts your costs and your system’s durability and efficiency, it’s important to select the right ones for you. Here are some things to keep in mind to help with your decision:
- Solar Panel Brands: The kind of solar panel you’d like to install plays a role in which company you should go with, since different companies offer different panels.
- Reputation: Make sure your solar system installer has a good reputation by confirming it has certifications and licenses, checking its work history and reading reviews by past customers and solar experts like the EcoWatch team.
- Installation Process: One of the most important things to understand when adopting solar power is the installation process itself. Be sure to align on any details you should know with your solar installer, such as what permits you should acquire and how long the project will take.
- Contract: It’s important to read through your solar installer’s contract well to understand what services they will provide, what the warranty covers and what expectations you should have about the project timeline.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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 Monticello, IA Solar Cost FAQs
How much does it cost to install solar panels in Monticello?
The average cost of solar panels in Monticello is about $20,050 for a 5-kW system and $40,100 for a 10-kW system before the ITC, but the actual cost will depend on stuff such as the kind of solar panels you want, what size system you need and how much energy you use.
Should I lease or buy solar panels in Monticello?
Leasing solar panels can be an option if you can’t afford to pay upfront or get a solar loan, but since you don’t own the system, you don’t have access to many solar incentives. Also your property value won’t increase, so you’ll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most savings from going solar.
Can solar panels completely eradicate my energy bills?
It is possible to eradicate your electricity bills with solar panels, but for most homeowners in Monticello, that will require at least a 10-kW system. Not all homes will have the roof space for that size system, so you’ll want to contact a local solar installer to see how many panels can fit on your roof.
What solar power system size is right for my home?
To figure out how many solar panels you need, you need to know how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can typically produce about 250 to 400 watt-hours per hour, the average household will need 20 to 35 panels.
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.