Solar Panel Cost Guide in Alexandria, MN (2024 Update)
- Alexandria Solar Installation Cost: $19,912
- 25-Year Savings: $14,565
- Payback Period: 17.4 Years
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Average Cost of Solar Panels in Alexandria
Here’s how much it might cost to make the switch to solar in Alexandria.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Alexandria, the typical cost of solar panels is 4 per watt.Using this figure, a typical 7.1-kW system would cost about $19,912 before the 0 federal solar tax credit is applied.
Keep in mind that the figures above are only estimates based on the average energy use of Alexandria homeowners. The price of a solar system for your home may be different depending on factors unique to your situation, like your household energy use and solar contractor.For most homeowners, the upfront investment in solar is worth paying. On average homeowners in Alexandria see about $15,000 in savings on electricity bills over 20 years.
For a free quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Alexandria
| Year | Return on Investment |
|---|---|
| 1 years | $-18,950 |
| 3 years | $-17,025 |
| 5 years | $-15,100 |
| 7 years | $-13,176 |
| 9 years | $-11,251 |
| 11 years | $-9,327 |
| 13 years | $-7,402 |
| 15 years | $-5,477 |
| 17 years | $-3,553 |
| 19 years | $-1,628 |
| 21 years | $297 |
| 23 years | $2,221 |
| 25 years | $4,146 |
Top Solar Installers in Alexandria
Many homeowners opt for a solar panel company since trying to put up solar panels on your own can be hard. Since solar panels are exposed to rain, snow, hail and wind, depending on the climate, warranties and repairs from your solar company can help you get the most out of your investment in solar panels by reducing potential costs down the line.
There are a number of licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
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 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 Alexandria
Factors that Affect Solar Panel Costs in Alexandria
Cost is typically one of the most important factors for homeowners who are considering investing in solar. There are a few key factors that determine your overall cost in Alexandria: 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
System size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of installing solar panels. Because of that, it’s important to accurately ascertain the size of the solar energy system needed for your home by figuring out your average energy use.The brand and kind of equipment you get for your solar system can raise or lower the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these are often more expensive than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have limited roof space or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to more savings over time. Plus, if you want additional equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Alexandria to be prohibitively steep, even if the investment pays off over time. Thankfully, nearly every solar company in the area provides access to financing options. Solar loans remarkably decrease upfront costs in most cases, but they also lead to higher prices over time because of interest.Even though solar loans make going solar more accessible for Alexandria homeowners, they can also raise the total you pay for your system, depending on your interest rate. If you put down a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
The solar installation company you select will influence your total cost to make the switch to solar . Different companies will bill different amounts for the equipment and labor.The size of the company sometimes plays the most considerable role in the cost. Larger national companies, like SunPro and Sunrun, often have lower pricing because of access to more resources and better pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or promotion can bring their pricing down to compete with bigger names.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $4.19 | $17,603 | $6,706 | 18.1 years |
| 8 kW | $4.11 | $23,019 | $9,392 | 17.8 years |
| 10 kW | $4.03 | $28,210 | $12,304 | 17.4 years |
| 12 kW | $3.95 | $33,175 | $15,442 | 17.1 years |
| 14 kW | $3.87 | $37,914 | $18,806 | 16.7 years |
| 16 kW | $3.79 | $42,428 | $22,395 | 16.4 years |
| 18 kW | $3.71 | $46,716 | $26,210 | 16.0 years |
| 20 kW | $3.63 | $50,778 | $30,251 | 15.7 years |
How to Save on Solar Panels
The solar installer you opt for will influence not only your total costs, but also the types of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are a few important things you should consider, including:
- Reputation: Companies that have been operating for many years likely have a solid reputation. This is important because it ensures that it will not only see your solar project through, but will also provide adequate aftercare and customer support, such as part repairs and replacements.
- Contract: When reading through your solar company’s contract, ask for clarification about any terms you’re not sure of and make sure you understand what happens in scenarios like a system part breaking or the company going out of business.
- Warranty: A high-quality company stands out from other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Installation Process: Get detailed information from your solar installer about the installation process and what to expect, such as when the site survey will be completed and what the project timeline is.
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 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 Alexandria, MN Solar Cost FAQs
What is the average cost of installing solar panels in Alexandria?
The average cost of solar panels in Alexandria is about $20,150 for a 5-kW system and $40,300 for a 10-kW system before the ITC, but the real cost will depend on stuff such as the model of solar panels you want, what size system you need and how much energy you use.
Is cost the most important consideration when buying solar panels?
Cost is definitely one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Is it worth going solar in Alexandria?
Solar panels can be a beneficial investment for many homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your energy bills are already reasonably low, solar panels might not be for you.
How many solar panels should I get to power my home?
To figure out how many solar panels you need, you should find out how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can usually 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.