Solar Panels Cost 7.5k-17k in Coralville, IA | October, 2024

Solar Panels Cost $7.5k-$17k in Coralville, IA | October, 2024

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

You'll pay about $3.6/W to get a solar system in October, 2024 in Coralville, IA.

Based on this price per watt, you can conclude that for every 1000 watts (1 kW) your solar system can generate, you will have to spend $3,600 for its installation. After receiving the 30% federal tax credit, a 5 kW panel install in Coralville will cost around $12,600. Your electricity use habits may need a larger system.

Select your county from the menu on the left to view the typical roof size and maximum solar panel capacity for homes in your area. Additionally, you can also see a breakdown of the costs, payback period and 20 year average savings for a 5 kW system in your county below.

Average out-of-pocket cost for a 5 kW system The upfront amount spent to buy and install solar.
Coralville: $12,600US Average: $12,562
Average Payback Period The number of years until you break even on the solar investment.
Coralville: 10 yearsUS Average: 7 years
Average Net 20-year savings The total amount of money saved over 20 years minus the out-of-pocket cost.
Coralville: $6,612US Average: $15,784

Solar Potential in Coralville

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

Roof size 661sq. ft.
Capacity 9.25kW DC
Electricity 10.3kkWh AC per yr.

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

The standard kWh usage for Coralville residents is 832 monthly, with an average electric bill of $102.55. It’s worth remembering that this number includes apartments and other smaller living spaces that generally have lower energy use.

In October 2024, the electricity rate in Coralville, IA is on average 12.33¢ per kWh.

If your household uses an average amount of electricity in Coralville, you will want a solar system of 7 kW or larger to fully take care of your entire power needs. Presently, a 7 kW solar panel system will have an upfront cost of about $25,200, but the federal tax credit reduces the price by 30%, making it $17,640.

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Average solar panel costs by system size in Coralville

To your left, there is a comprehensive price breakdown for the multiple solar panel system sizes installed in Coralville. Of course, with a bigger solar system, there will be a higher upfront cost, but the advantages consist of more electricity savings and larger income tax credits.

In the solar panel cost calculator located to the right and below, you can see a cost and benefit breakdown to match an average $102.55electric bill in Coralville. For custom results, change the $102.55 to whatever your average electricity bill is.

System Size 3kW
Roof Size Min. space required
215 ft²
Electricity Value Annual Production $536 a year
Est. Price
$7,560
Savings from a 3kWthis system
  • Est. yearly production 4,467 kWh
  • Est. monthly savings $45
  • Full payback in 6 years
Environmental Impacts
  • Reduces CO2 emissions by 2.03 tons a year
  • Equivalent to planting 93 trees a year
  • Equivalent to driving 5,017 mi less a year
System Size 4kW
Roof Size Min. space required
286 ft²
Electricity Value Annual Production $715 a year
Est. Price
$10,080
Savings from a 4kWthis system
  • Est. yearly production 5,955 kWh
  • Est. monthly savings $60
  • Full payback in 8 years
Environmental Impacts
  • Reduces CO2 emissions by 2.7 tons a year
  • Equivalent to planting 124 trees a year
  • Equivalent to driving 6,689 mi less a year
System Size 5kW
Roof Size Min. space required
358 ft²
Electricity Value Annual Production $893 a year
Est. Price
$12,600
Savings from a 5kWthis system
  • Est. yearly production 7,444 kWh
  • Est. monthly savings $74
  • Full payback in 10 years
Environmental Impacts
  • Reduces CO2 emissions by 3.38 tons a year
  • Equivalent to planting 155 trees a year
  • Equivalent to driving 8,362 mi less a year
System Size 6kW
Roof Size Min. space required
429 ft²
Electricity Value Annual Production $1,072 a year
Est. Price
$15,120
Savings from a 6kWthis system
  • Est. yearly production 8,933 kWh
  • Est. monthly savings $89
  • Full payback in 12 years
Environmental Impacts
  • Reduces CO2 emissions by 4.05 tons a year
  • Equivalent to planting 186 trees a year
  • Equivalent to driving 10,034 mi less a year
System Size 7kW
Roof Size Min. space required
501 ft²
Electricity Value Annual Production $1,251 a year
Est. Price
$17,640
Savings from a 7kWthis system
  • Est. yearly production 10,422 kWh
  • Est. monthly savings $103
  • Full payback in 14 years
Environmental Impacts
  • Reduces CO2 emissions by 4.67 tons a year
  • Equivalent to planting 215 trees a year
  • Equivalent to driving 11,569 mi less a year

Coralville Solar Panel Installation Incentives & Rebates | 2024

If you run a small business or farm in a rural area, you could receive REAP Grant support that covers 80% to 100% of your solar energy or wind turbine installation costs. To determine your eligibility, use our REAP Grant eligibility tool.

For those considering residential solar, the 30% federal income tax credit is offered to almost all homeowners, making solar power a good investment in numerous parts of the country. There are also a number of state and local efforts aimed at enhancing solar energy use.

In Iowa, 5 solar rebates and incentives are currently available from different utilities and government 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?

If your intention is to stay in your home beyond the solar payback period, installing solar panels is a wise option in Coralville. In Coralville, IA, the installation of a 5 kW solar system can save you an average of $12,012 over 20 years, with an average break even point of 10 years.

The cost of not having solar panels in Coralville, IA

In addition to missing out on the savings mentioned above, not having solar panels or an alternative backup energy source results in total reliance on your electric utility for electricity. As shown by recent news stories, complete dependence on your utility company isn't always ideal.

In recent years, customers in Coralville have typically faced 1.09 utility outages per year. The average duration of each outage is 100.2 minutes. During severe events like equipment failure, tornadoes or construction accidents, these times can grow significantly longer.

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

Power Outages

Currently, 0 customers are being tracked in Johnson County.

Learn more

Customers Out:

0

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

Your Energy Needs - The cost per watt declines with larger solar panel systems, even if the upfront cost is larger. Consumers often discover that setting up a solar system that can replace their entire electric bill is useful, resulting in significant savings.

Make & Model - Just like any other product, solar panels are available in a range of makes and models. The installer’s preference for brand makes it important to select a highly rated contractor. Superior equipment generally provide an better long-term experience for the buyer.

Solar Panel Type - Monocrystalline panels are generally accepted as the industry standard, and for valid reasons. They are pricier but produce more energy. Many professionals in solar installation utilize panels constructed from this material.

Your Property - Elements such as rough terrain, trees, or additional considerations might complicate the installation process. Solar installers now have the ability to use satellite images to evaluate your home and include these factors in the first cost estimate.

Labor Rates - Companies pay varying pay rates to their employees, which are then reflected in the prices consumers pay. It is frequently observed that companies with higher wages get superior reviews for their services and customer service.

Permitting & Interconnection - The cost of your installation will be impacted by the local permitting and utility interconnection fees, which vary depending on the area. Quality local installers will include these figures in your preliminary estimates to provide transparency.

See what solar panels cost in other IA cities

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Who are the best solar installers in Coralville?

SunPro Solar

Mandeville, LA(866) 599-3643

Services

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

Eagle Point Solar

Dubuque, IA(563) 582-4044

Services

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

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.

Coralville, IA Solar Panel Cost FAQs

  • The typical cost per watt for solar panels in Coralville, IA as of October, 2024 is $3.6/W. For a 5 kW solar panel system, the total cost in Coralville, IA after federal tax credits is around $12,600.

  • Various utility providers and government organizations in Iowa are offering 5 rebates and incentives at this time. Additionally, the vast majority qualify for the 30% federal tax credit.

  • Cash payments yield the highest savings, yet numerous financing options now available for solar panels are financially beneficial as well. Your preliminary quotes will usually include financing options available through installers.

  • Yes, on average, the return on investment for 5 kW solar panel systems in Coralville, IA is achieved in 10 years, with electricity savings amounting to $12,012 over 20 years.
Alex Zdanov
Last Reviewed By: Alex Zdanov
Published: 2024-10-01