Solar Panel Cost Guide in Red Oak, IA (2024 Update)
- Red Oak Solar Installation Cost: $26,209
- 25-Year Savings: $24,300
- Payback Period: 15.5 Years
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Average Cost of Solar Panels in Red Oak
We break down average solar pricing in Red Oak.
The national average cost of solar panels is $2.66 per watt, but in Red Oak it’s 4 per watt.Because a 9.3-kW system is needed to cover the energy needs of a typical home in Red Oak, the average price of going solar will be about $26,209 after claiming the federal solar tax credit of 0.
These figures are just averages, and how much solar costs for you may vary based on your specific situation and what company you want to go with.Many homeowners find installing a solar system is a sound investment. The average homeowner in Red Oak can save around $17,000 on their electricity bills over 20 years.
To see your potential ROI and connect with a local solar installer, click the button below.
Solar savings over time in Red Oak
| Year | Return on Investment |
|---|---|
| 1 years | $-25,141 |
| 3 years | $-23,006 |
| 5 years | $-20,870 |
| 7 years | $-18,734 |
| 9 years | $-16,598 |
| 11 years | $-14,463 |
| 13 years | $-12,327 |
| 15 years | $-10,191 |
| 17 years | $-8,055 |
| 19 years | $-5,919 |
| 21 years | $-3,784 |
| 23 years | $-1,648 |
| 25 years | $488 |
Top Solar Installers in Red Oak
DIY solar panel installation is a way to cut costs, but it's an undertaking that can use up a lot of your time and energy. Using a solar company can make switching to solar power much easier. Another advantage of working with a solar company is that they can help you maximize your investment by lowering your future costs of repairs and replacements due to warranties and informing you of local incentives you can take advantage of.
You can get a free estimate from a local solar installer on the cost of solar panels for your home. Here are some near you:
See all of the solar companies in Red Oak
Factors that Affect Solar Panel Costs in Red Oak
Although the average cost of a solar system in Red Oak is $26,209, your actual cost may differ. There are quite a few factors that can have a significant impact on the cost of a solar panel installation. Below are some of the more crucial things to take into consideration.
Solar Equipment
The size of the solar system you need for your household, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by around $4,010. Some solar brands — like Maxeon from SunPower — cost more upfront but also tend to offer higher efficiency. In a city like Red Oak, 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 more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Red Oak to be too steep, even if the investment pays off over time. Fortunately, nearly every solar company in the area provides access to financing options. Solar loans drastically decrease upfront costs for most homeowners, but they also result in paying more over time because of interest.When estimating your overall cost, you should also calculate the interest you’ll pay if you opt for a solar loan. Also, paying a higher down payment can reduce the total interest paid over time.
Solar Panel Installation Company
Finally, the company you get to install your solar system can play a part in determining your pricing. Red Oak’s solar companies all have different labor costs and add varying upcharges to equipment. Companies that only sell products with high efficiency and therefore a higher price point — 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 provides the products, warranties and services you’re looking for and also is 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 | $9,733 | 16.1 years |
| 8 kW | $4.09 | $22,905 | $13,427 | 15.8 years |
| 10 kW | $4.01 | $28,070 | $17,345 | 15.5 years |
| 12 kW | $3.93 | $33,010 | $21,487 | 15.1 years |
| 14 kW | $3.85 | $37,726 | $25,855 | 14.8 years |
| 16 kW | $3.77 | $42,217 | $30,446 | 14.5 years |
| 18 kW | $3.69 | $46,484 | $35,263 | 14.2 years |
| 20 kW | $3.61 | $50,526 | $40,304 | 13.9 years |
How to Save on Solar Panels
Since the model of solar panels and the installer you choose significantly impacts your costs and your system’s durability and efficiency, it’s important to select the right ones for you. Here are some tips to keep in mind to help with your decision:
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and how much efficiency they need. Even though there are many options for which type of solar panel you can get, not every company will have the exact one you may want or need, so be sure to take a look at their list of options before deciding.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for clean energy professionals. If your solar panel installer is NABCEP-certified, it likely has a solid reputation and is qualified to get the job done well. Another way you can research your installer’s reputation is by reading reviews.
- Contract: Review the contract terms closely to make sure you understand the cost breakdown, project timeline rebates and warranties.
- Warranty: Many companies offer different types of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
EcoWatch's Red Oak, IA Solar Cost FAQs
How much does it cost to install solar panels in Red Oak?
This is a difficult question to answer exactly, because the cost depends on a variety of factors. Broadly speaking, it costs about $20,050 for a 5-kW system and $40,100 for a 10-kW system after the ITC is applied. You can expect to pay more if you want extra solar equipment or higher quality panels, or if you have above-average energy usage. On the other hand, you can spend less if you want a smaller solar panel system or cheaper solar panels.
Are solar panels free in Red Oak?
You can’t get solar panels for free in Red Oak. However, you may still be able to afford them on a lower budget. You can lease solar panels for a low upfront cost or, if you’d prefer to own your solar panels, you can finance them with a solar loan.
How will installing solar panels impact my home value?
Solar panels can increase your home value remarkably as long as you buy or finance your panels and don’t opt for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing a solar system."
How often do you have to replace solar panels?
Although 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 how much energy they produce will have decreased significantly after that point. You can opt 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.