Solar Panel Cost Guide in Alexandria, MN (2023 Update)
- Alexandria Solar Installation Cost: $14,032
- 25-Year Savings: $14,565
- Payback Period: 12.3 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Alexandria
Here's how much it might cost to switch to solar power in Alexandria.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Alexandria, the typical cost of a solar system is 2.84 per watt. Since a 7.1-kW system is needed to cover the energy usage of a typical home in Alexandria, the average price of going solar will be about $14,035 after claiming the federal solar tax credit of 30%.
Keep in mind that the numbers above are only averages. The price you'll pay for solar may look quite different based on your household energy use, the type of equipment you want to get, your solar contractor and more. But, after you've paid the initial cost of installation, the savings for most homeowners is typically rewarding, with a net average savings of about $15,000 over 20 years on power bills.
For a customized quote from a local solar installer that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Alexandria
| Year | Return on Investment |
|---|---|
| 1 years | $-13,070 |
| 3 years | $-11,145 |
| 5 years | $-9,221 |
| 7 years | $-7,296 |
| 9 years | $-5,371 |
| 11 years | $-3,447 |
| 13 years | $-1,522 |
| 15 years | $402 |
| 17 years | $2,327 |
| 19 years | $4,252 |
| 21 years | $6,176 |
| 23 years | $8,101 |
| 25 years | $10,025 |
Top Solar Installers in Alexandria
Although it's possible to install solar panels yourself, it requires extra effort and knowledge. Because of that, the majority of homeowners choose to hire a solar panel installer. Also, companies with an outstanding reputation that are more expensive upfront could actually save you money in the long term because of their warranties, repair services and expert design.
You can work with a local solar installer to get a free estimate on how much solar panels could cost for your home. Here are some nearby:
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
Even though the average cost of a solar system in Alexandria is $14,035, your final cost may differ. There are several factors that can have a sizable impact on the cost of a residential solar panel installation. Below are some of the more important things to consider.
Solar Equipment
One of the most important factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more energy your household consumes, the larger your system will likely need to be. You can expect to pay around $2,840 per kilowatt in Alexandria. There are a lot of different solar panel brands and the one you choose also changes the cost. Generally, the brands that are more efficient tend to also cost more. Additionally, the type of equipment you choose can affect your total cost. If you just need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Most solar installers in Alexandria have solar loans, which reduce the initial cost of installing solar. Though solar loans make going solar more accessible for Alexandria homeowners, they can also increase the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. 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 remaining significant cost factor you should take into consideration is the installer you choose. Given the booming popularity of renewable energy solutions in Alexandria, you'll have lots of options to choose from, but each comes at various price points for labor and equipment. Larger national companies usually have lower costs, but some local companies compete with them by offering sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or add-on services like electric car charger installation, they might be cheaper overall.
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 | $11,904 | 12.8 years |
| 8 kW | $2.90 | $16,222 | $16,189 | 12.5 years |
| 10 kW | $2.84 | $19,880 | $20,634 | 12.3 years |
| 12 kW | $2.78 | $23,379 | $25,238 | 12.0 years |
| 14 kW | $2.73 | $26,719 | $30,001 | 11.8 years |
| 16 kW | $2.67 | $29,900 | $34,924 | 11.5 years |
| 18 kW | $2.61 | $32,921 | $40,005 | 11.3 years |
| 20 kW | $2.56 | $35,784 | $45,245 | 11.0 years |
How to Save on Solar Panels
Since the kind of solar panels and the installation company you choose has an impact on your costs and your system's efficiency, production, and durability, it's important to select the right ones for you. Here are some things to keep in mind to help with your decision:
- Installation Process: An important thing to understand when adopting solar power is the installation process itself. Be sure to align on any details you should know with your solar installer, such as what permits you should secure and what the project timeline is.
- Contract: Review the contract terms thoroughly to make sure you understand the overall cost, project timeline incentives and warranties.
- Warranty: A quality company stands out from other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and energy needs. Even though there are many options for which type of solar panel you can get, not every company will have access to the exact one you may want or need, so be sure to ask for their list of offerings before deciding.
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
How much does it cost to install solar panels in Alexandria?
The average cost of solar panels in Alexandria is about $14,200 for a 5-kW system and $28,400 for a 10-kW system before the ITC, but the actual 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 Alexandria?
You can't get solar panels for free in Alexandria. 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 rather own your solar panels, you can finance them with a solar loan.
Can you sell solar power back to the grid in Alexandria?
The majority of states have net metering programs of some kind. Through these, you can receive compensation for the extra power your system generates or or receive credits to put toward future energy bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.
How often do you have to replace solar panels?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger amount of energy production.
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.