Solar Panel Cost Guide in Albert Lea, MN (2023 Update)
- Albert Lea Solar Installation Cost: $14,151
- 25-Year Savings: $19,898
- Payback Period: 10.4 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Albert Lea
See how much it might cost to install solar panels in Albert Lea.
In Albert Lea, solar panels cost about 2.84 per watt on average. Since a 7.1-kW system is needed to cover the energy usage of a typical home in Albert Lea, the average price of going solar will be about $14,155 after claiming the federal solar tax credit of 30%.
How much you pay can be above or below the average in Albert Lea based on a few factors, such as the type of solar panels you choose and the solar installer you hire. But, once you've paid the upfront cost of installation, the savings for most homeowners is typically rewarding, with a net average savings of about $18,000 over 20 years on energy bills.
For a free quote from a local solar installer that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Albert Lea
| Year | Return on Investment |
|---|---|
| 1 years | $-12,871 |
| 3 years | $-10,313 |
| 5 years | $-7,754 |
| 7 years | $-5,195 |
| 9 years | $-2,636 |
| 11 years | $-77 |
| 13 years | $2,482 |
| 15 years | $5,041 |
| 17 years | $7,600 |
| 19 years | $10,159 |
| 21 years | $12,718 |
| 23 years | $15,276 |
| 25 years | $17,835 |
Top Solar Installers in Albert Lea
Many homeowners decide to hire a solar panel installer since installing solar panels on your own can be a labor-intensive endeavor. The expertise that solar companies provide can be useful as well, particularly if you aren't sure what kind of solar equipment would be right for your home.
There are a number of licensed solar professionals that can help you install your solar panels. Here are our suggestions:
Best Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
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 Albert Lea
Factors that Affect Solar Panel Costs in Albert Lea
Although the average cost of a solar system in Albert Lea is $14,155, your actual cost may differ. There are quite a few factors that can have a major impact on the cost of a solar system installation. Below are some of the more important things to consider.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a few different factors. One of the notable factors is the system size, which is measured in kilowatts (kW). Solar power systems that have better efficiency or power production need better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $2,840. The brand of solar panels and equipment you choose is another factor that will largely influence costs. Solar panels that are more efficient, like monocrystalline panels, tend to cost more. Moreover, solar equipment consists of more than just the solar panels themselves. You'll also need to make decisions about the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when searching for a solar system that's in your budget.
Solar Financing Terms
Many homeowners find the average cost of solar in Albert Lea to be prohibitively costly, even if the investment pays off over time. Fortunately, almost every solar company in the area provides access to financing options. Solar loans greatly decrease upfront costs in most cases, but they also lead to a higher cost over time because of interest. It's a good idea to factor the interest you'll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and how long it'll take to pay off the loan.
Solar Panel Installation Company
The solar installer you hire to handle your switch to clean energy can play a part in your total costs. There are about 3 solar panel companies in Albert Lea, and each can charge different amounts for labor and equipment. Some companies 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 cost more. It's best to do some research and decide on the company that has the products, warranties and services you're looking for and also fit into 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 | $2.95 | $12,405 | $16,295 | 10.8 years |
| 8 kW | $2.90 | $16,222 | $22,045 | 10.6 years |
| 10 kW | $2.84 | $19,880 | $27,954 | 10.4 years |
| 12 kW | $2.78 | $23,379 | $34,022 | 10.2 years |
| 14 kW | $2.73 | $26,719 | $40,249 | 10.0 years |
| 16 kW | $2.67 | $29,900 | $46,635 | 9.8 years |
| 18 kW | $2.61 | $32,921 | $53,180 | 9.6 years |
| 20 kW | $2.56 | $35,784 | $59,884 | 9.4 years |
How to Save on Solar Panels
There are a lot of companies available in Albert Lea, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be difficult, so here are some tips to help you decide:
- Installation Process: Make sure you're on the same page with the company in regard to how the installation process will go and what you need to do before your solar panel system is installed, such as updating your electrical system or roof.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for clean energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a solid reputation and is qualified to do the job well. Another way you can look into your installer's reputation is by reading reviews.
- Solar Panel Brands: Different companies will have various brands and types of panels. If you want a specific brand, make sure the solar panel installer you're considering has it.
- Contract: Look through the contract terms closely to make sure you understand the overall cost, project timeline incentives and warranties.
Best Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
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 Albert Lea, MN Solar Cost FAQs
What is the average cost of installing solar panels in Albert Lea?
The average cost of solar panels in Albert Lea is about $14,200 for a 5-kW system and $28,400 for a 10-kW system before the ITC, but the real cost will depend on certain factors such as the type of solar panels you want, what size system you need and how much energy you use.
Are solar panels free in Albert Lea?
You can't get solar panels for free in Albert Lea. However, you may still be able to install them on a lower budget. You can lease solar panels for a low upfront cost or, if you want to own your solar panels, you can finance them with a solar loan.
Is it worth going solar in Albert Lea?
Solar panels can be a fruitful investment for a majority of homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your energy bills are already reasonably low, solar panels might not be for you.
What solar power system size is right for my home?
To figure out what solar panel system size 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.