Solar Panels Cost 8.1k-19k in Ankeny, IA | October, 2024

Solar Panels Cost $8.1k-$19k in Ankeny, IA | October, 2024

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How much do solar panels cost in Ankeny, IA in 2024?

It costs about $3.89/W to go solar in October, 2024 in Ankeny, IA.

For every 1000 watts (1 kW) your solar system can produce, you will need to invest, on average, $3,890 to have it installed. In Ankeny, the cost of a 5 kW panel install is typically $13,615, after a 30% federal tax credit. In accordance with your energy consumption, your home might need a larger system.

Select your county from the menu on the left to view the average roof size and maximum residential solar capacity for homes in your area. Below, you can see a full breakdown of the price, payback period, and 20-year average savings for a 5 kW system in your county.

Average out-of-pocket cost for a 5 kW system The upfront amount spent to buy and install solar.
Ankeny: $13,615US Average: $12,562
Average Payback Period The number of years until you break even on the solar investment.
Ankeny: 12 yearsUS Average: 7 years
Average Net 20-year savings The total amount of money saved over 20 years minus the out-of-pocket cost.
Ankeny: $2,666US Average: $15,784

Solar Potential in Ankeny

Estimated system size and solar electricity production per median viable roof in
Ankeny.

Roof size 661sq. ft.
Capacity 9.25kW DC
Electricity 10.9kkWh AC per yr.

Electricity Costs in Ankeny, IA & What that Means for Your Solar Panel Pricing

The average monthly electric bill for a Ankeny energy consumer is $92.15, based on an typical usage of 814 kWh. Keep in mind, this statistic includes smaller residential units such as apartments, which generally have reduced energy consumption.

As of October 2024, the mean rate for electricity per kWh in Ankeny, IA is 11.32¢.

Average electricity users in Ankeny will require a solar power system of 7 kW or higher to take care of all of their electricity requirements. The initial cost for a 7 kW setup amounts to $27,230, but with a 30% tax credit, your cost is reduced to $19,061.

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Average solar panel costs by system size in Ankeny

On the left side below, you can find a detailed cost breakdown for different solar panel system sizes installed in Ankeny. A bigger solar array will obviously cost more, but it will also offer more significant electricity savings and more substantial income tax credits.

The solar panel cost calculator down and to the right details costs and benefits, based on an average $92.15 electric bill in Ankeny If you want tailored results, modify the $92.15 to your average electricity bill amount.

System Size 3kW
Roof Size Min. space required
215 ft²
Electricity Value Annual Production $491 a year
Est. Price
$8,169
Savings from a 3kWthis system
  • Est. yearly production 4,467 kWh
  • Est. monthly savings $41
  • Full payback in 7 years
Environmental Impacts
  • Reduces CO2 emissions by 2.02 tons a year
  • Equivalent to planting 93 trees a year
  • Equivalent to driving 5,006 mi less a year
System Size 4kW
Roof Size Min. space required
286 ft²
Electricity Value Annual Production $655 a year
Est. Price
$10,892
Savings from a 4kWthis system
  • Est. yearly production 5,955 kWh
  • Est. monthly savings $55
  • Full payback in 10 years
Environmental Impacts
  • Reduces CO2 emissions by 2.7 tons a year
  • Equivalent to planting 124 trees a year
  • Equivalent to driving 6,675 mi less a year
System Size 5kW
Roof Size Min. space required
358 ft²
Electricity Value Annual Production $819 a year
Est. Price
$13,615
Savings from a 5kWthis system
  • Est. yearly production 7,444 kWh
  • Est. monthly savings $68
  • Full payback in 12 years
Environmental Impacts
  • Reduces CO2 emissions by 3.37 tons a year
  • Equivalent to planting 155 trees a year
  • Equivalent to driving 8,344 mi less a year
System Size 6kW
Roof Size Min. space required
429 ft²
Electricity Value Annual Production $983 a year
Est. Price
$16,338
Savings from a 6kWthis system
  • Est. yearly production 8,933 kWh
  • Est. monthly savings $82
  • Full payback in 15 years
Environmental Impacts
  • Reduces CO2 emissions by 4.05 tons a year
  • Equivalent to planting 186 trees a year
  • Equivalent to driving 10,012 mi less a year
System Size 7kW
Roof Size Min. space required
501 ft²
Electricity Value Annual Production $1,146 a year
Est. Price
$19,061
Savings from a 7kWthis system
  • Est. yearly production 10,422 kWh
  • Est. monthly savings $92
  • Full payback in 17 years
Environmental Impacts
  • Reduces CO2 emissions by 4.54 tons a year
  • Equivalent to planting 209 trees a year
  • Equivalent to driving 11,249 mi less a year

Ankeny Solar Panel Installation Incentives & Rebates | 2024

The REAP Grant can potentially cover between 80% and 100% of the installation costs for solar energy or wind turbines for rural small businesses and agricultural businesses. If you feel you might be eligible, try our REAP Grant eligibility tool to confirm your qualification.

Homeowners can benefit from a 30% federal income tax credit for installing residential solar panels, making solar power a feasible option in much of the country. A number of state and local programs are set up to enhance the adoption of solar energy.

There are 5 solar incentive and rebate programs in Iowa, provided by different utilities and governmental agencies.

Solar Energy Systems Tax Credit (Personal)

Value:Up to $5,000

Iowa residents who purchase and use solar energy devices may be entitled to an individual tax credit in place of the Iowa Production Tax Credit. The total credit a taxpayer may claim equals 50% of the equivalent federal credit up to $5,000. The Department of Revenue will carry over excess credits for a maximum of ten years. Applicants should submit paperwork for this credit only after the system is installed and operational. Credits are offered on a first-come, first-served basis. Additional information is available from the Iowa Department of Revenue website.

Solar Energy Systems Tax Credit (Corporate)

Value:Up to $20,000

Iowa businesses that purchase and use solar energy devices may be entitled to a corporate tax credit in place of the Iowa Production Tax Credit. The total credit a commercial entity may claim equals 50% of the equivalent federal credit up to $20,000. The Department of Revenue will carry over excess credits for a maximum of ten years. Applicants should submit paperwork for this credit only after the system is installed and operational. Credits are offered on a first-come, first-served basis. Additional information is available from the Iowa Department of Revenue website.

Mandatory Utility Green Power Option

Value:Varies

By Iowa law, all electric utilities operating within the state must offer green or renewable energy options when customers request a line extension or first connect to the electrical grid. The Iowa Utilities Board (IUB) keeps track of each utility's options and distributed energy tariff programs. Additional information is available from the IUB website.

IADG Energy Bank Revolving Loan Program

Value:Varies

The Iowa Area Development Group, together with the Iowa Economic Development Authority, manages a revolving loan fund for businesses within the state to install renewable energy systems or make energy efficiency improvements. Loans are available at no interest and will be serviced by IADG or one of the fund's lending partners. Projects funded by these loans should be geared toward cost-efficacy and productivity for the business and job creation for the state. Additional information is available from the IADG website.

Renewable Energy Equipment Exemption

Value:Varies

Solar PV, hydro, and wind energy devices in Iowa are exempt from state sales tax. All solar and hydro system equipment qualifies by default; for wind systems, system, manufacturing, and installation costs are all exempt. Additional information is available from the Iowa Department of Revenue website.

Are solar panels worth it in Iowa?

For those expecting to remain in their homes after the solar system's payback period, adding solar panels is a clear choice in Ankeny. Over a 20 year period, a 5 kW solar system in Ankeny, IA could save you approximately $8,501, with the average break even time being 12 years.

The cost of not having solar panels in Ankeny, IA

In addition to missing out on the savings mentioned previously, not installing solar panels or another form of backup power leaves you completely dependent on your electric utility. Full reliance on your utility isn't always the best scenario as the news has recently highlighted.

Each year, the average number of outages per customer in Ankeny is about 0.87. Outages typically last for an average of 87.82 minutes. Major occurrences like thunderstorms, planned maintenance, or aging infrastructure can lead to a significant rise in these time frames.

A solar panel system, with or without a backup battery, could help mitigate the effects of future outages you might encounter.

Power Outages

Currently, 0 customers are being tracked in Polk County.

Learn more

Customers Out:

0

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What impacts the cost of solar panels in Ankeny, IA?

Your Energy Needs - Even though larger solar panel systems are more expensive initially, the average price per watt reduces as the system size increases. Consumers often find that setting up a solar system to fully cover their electric bill is a smart choice, leading to the most savings.

Make & Model - There are a variety of makes and models of solar panels. The contractor’s preference for brand makes it essential to select a recommended installer. Better makes and models typically provide an enhanced long-term experience for the buyer.

Solar Panel Type - There's a good reason why monocrystalline panels are now considered the industry standard. They have a higher price, but they produce more energy. Many solar panel installers prefer this type of material.

Your Property - No two properties or homes are identical. Rough terrain, trees, or additional considerations can increase the difficulty of the installation. Solar installers today frequently utilize satellite imagery to evaluate your home and factor in these factors into the preliminary cost estimate.

Labor Rates - Various wages are offered to employees by various companies, and these costs are transferred to the consumers. Higher wages often lead to businesses getting better reviews for their services and customer service.

Permitting & Interconnection - Local permitting and utility level interconnection fees differ by area and will affect your final install price. That said, reputable local installers will be able to incorporate these numbers into your initial quotes so there are no surprises.

See what solar panels cost in other IA cities

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Who are the best solar installers in Ankeny?

SunPro Solar

Mandeville, LA(866) 599-3643

Services

  • Installation of solar arrays.
  • Consulting on all things solar related.
  • Solar systems for selling electricity back to the grid.
  • Monitoring of independent energy generation.
  • Expertise in consulting on advantageous financing for solar.
  • Installation of batteries for energy storage.
  • Auditing of energy requirements for independent energy generation.

Eagle Point Solar

Dubuque, IA(563) 582-4044

Services

  • Expertise in consulting on advantageous financing for solar.
  • Installation of solar arrays.
  • Reparation of solar arrays.

SunPower Corporation

San Jose, CA(800) 786-7693

Services

  • Expertise in consulting on advantageous financing for solar.
  • Consulting on all things solar related.
  • Installation of solar arrays.
  • Reparation of solar arrays.
  • Installation of batteries for energy storage.
  • Monitoring of independent energy generation.
  • Solar systems for selling electricity back to the grid.

Harvest Solar

Jackson, MI(888) 907-6527

Services

  • Installation of solar arrays.
  • Consulting on all things solar related.
  • Expertise in consulting on advantageous financing for solar.

GRNE Solar

Palatine, IL(312) 859-3417

Services

  • Installation of batteries for energy storage.
  • Installation of solar arrays.
  • Expertise in consulting on advantageous financing for solar.
  • Consulting on all things solar related.

Entegrity

Little Rock, AR(800) 700-1414

Services

  • Expertise in consulting on advantageous financing for solar.
  • Installation of solar arrays.

Ideal Energy

Fairfield, IA(800) 634-4454

Services

  • Installation of batteries for energy storage.
  • Installation of solar arrays.
  • Expertise in consulting on advantageous financing for solar.
  • Reparation of solar arrays.

Ankeny, IA Solar Panel Cost FAQs

  • As of October, 2024, the average per-watt cost for solar panels in Ankeny, IA is $3.89/W. In Ankeny, IA, the cost of installing a 5 kW solar panel system is approximately $13,615 after applying the federal tax credit.

  • At present, there are 5 rebates and incentives available to Iowa residents from various utility and government programs. Moreover, nearly everyone is eligible for the 30% federal income tax credit.

  • Choosing to pay cash offers the most savings, but today there are numerous financing options for solar panels that are also financially advantageous. Your preliminary quotes will usually contain financing options available through installers.

  • Yes, in Ankeny, IA, the average payback period for 5 kW solar panels is 12 years, resulting in average electricity savings of $8,501 over 20 years.
Matt Hope
Last Reviewed By: Matt Hope
Published: 2024-10-01