Solar Panel Cost Guide in Andover, MN (Sep 2022)

  • Andover Solar Installation Cost: $14,274
  • 25-Year Savings: $19,446
  • Payback Period: 10.6 Years

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EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 9/16/2022

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Average Cost of Solar Panels in Andover

Find out what the average cost of a solar system is in Andover.

In Andover, solar panels cost about $3 per watt on average. Using this figure, a typical 7.2 would cost about $14,274 before the 30% federal solar tax credit is applied.

Remember that the numbers above are only averages. The price you'll pay for solar will differ based on your household energy use, the type of solar system you want, your solar contractor and more. But, after you've paid the upfront cost of installation, the savings for most homeowners is usually good, with a net average savings of about $18,000 over 20 years on electricity bills.

For a customized quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.

Solar savings over time in Andover

Year Return on Investment
1 years $-12,925
3 years $-10,228
5 years $-7,530
7 years $-4,832
9 years $-2,135
11 years $563
13 years $3,260
15 years $5,958
17 years $8,655
19 years $11,353
21 years $14,051
23 years $16,748
25 years $19,446

Top Solar Installers in Andover

DIY solar panel installation is a choice some homeowners opt for, but it's an undertaking that can take a lot of hard work. Going with a solar company can make swapping over to solar power much easier. 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.

Working with a professional solar company can make going solar easier. Here are our recommendations:

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Technology

The Green Panel

★★★★★
4.5

  • 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

Best Social Impact

Palmetto Solar

★★★★★
4.0

  • Expansive service area
  • Makes charitable contributions
  • Certified B Corp
  • No leases or PPAs
  • Quality of installation may vary by location

See all of the solar companies in Andover

Factors that Affect Solar Panel Costs in Andover

For many Andover homeowners, the decision to install solar panels depends on cost. However, the range of solar installation costs can be quite wide in Andover, with typical prices between $20,000 to $40,000. There are a few factors that greatly influence the price you'll pay, which we'll go over below.

Solar Equipment Size

The cost of solar panels varies by thousands of dollars due to a variety of factors. One of the major factors is the system size. Solar power systems that have greater efficiency or power generation require better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $2,840. The type of solar panels and equipment you choose is another factor that will significantly impact costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to come at a higher price. Furthermore, solar equipment is more than just the solar panels themselves. You'll also need to think 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 looking for a solar system that falls within your budget.

Solar Financing Terms

Solar panels can save you money on power bills over time, but they can also be a big investment. That's why many Andover homeowners decide to finance their solar panel systems to make going solar more affordable. You'll have to consider the long-term cost of loans, including the total interest you'll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or securing a solar loan with a low interest rate could reduce your costs significantly.

Solar Panel Installation Company

A final factor to consider when trying to estimate the cost of solar for your home or business in Andover is the company you hire to install your solar system. As with choosing a company to renovate your kitchen, for instance, there are plenty of solar installers that provide a range of services at different price points. You may notice national solar installers that have lower prices due to their bigger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or specials to compete with those major players.

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 $15,777 11.0 years
8 kW $2.90 $16,222 $21,355 10.8 years
10 kW $2.84 $19,880 $27,091 10.6 years
12 kW $2.78 $23,379 $32,986 10.4 years
14 kW $2.73 $26,719 $39,041 10.2 years
16 kW $2.67 $29,900 $45,254 9.9 years
18 kW $2.61 $32,921 $51,626 9.7 years
20 kW $2.56 $35,784 $58,158 9.5 years

Solar Incentives in Andover

Name Solar Energy Sales Tax Exemption
Incentive Amount 100% exemption
More Info Click here

Name Wind and Solar-Electric (PV) Systems Exemption
More Info Click here

Name Wind Energy Sales Tax Exemption
Incentive Amount 100% of sales tax
More Info Click here

Name Brainerd Public Utilities - Residential Energy Efficiency Rebate Program
Website Visit here
More Info Click here

Name Connexus Energy - Residential Energy Efficiency Loan Program
Website Visit here
More Info Click here

Name Connexus Energy - Residential Energy Efficiency Rebate Program
Website Visit here
More Info Click here

Name Great River Energy (28 Member Cooperatives) - Energy Wise Residential Efficiency Rebates
Website Visit here
More Info Click here

Name Wright-Hennepin Cooperative Electric Association - Residential Energy Efficiency Rebate Program
Website Visit here
More Info Click here

Name Home Energy Loan Program
Incentive Amount $20,000
Website Visit here
More Info Click here

Name Fix-Up Loan
Website Visit here
More Info Click here

Name Renewable Energy Production Incentive
Website Visit here
More Info Click here

Name Residential Renewable Energy Tax Credit
Website Visit here
More Info Click here

How to Save on Solar Panels

Since the brand of solar panels and the installer you choose greatly influences your costs and your system's durability and efficiency, it's important to select the right ones for you. Here are some tips to keep in mind to help with your decision:

  • Reputation: Companies that have been operating for many years likely have a high reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide adequate aftercare and customer support, such as part repairs and replacements.
  • Installation Process: An important thing to understand when going solar is the installation process itself. Be sure to align on any details you should know with your solar company, such as what permits you should acquire and what the project timeline is.
  • Contract: When looking 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 component breaking or the company going out of business.
  • Solar Panel Brands: Not all solar companies have the same brands of solar panels, so the brand and type of panel you want can play a significant role in the company you hire.

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Technology

The Green Panel

★★★★★
4.5

  • 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

Best Social Impact

Palmetto Solar

★★★★★
4.0

  • Expansive service area
  • Makes charitable contributions
  • Certified B Corp
  • No leases or PPAs
  • Quality of installation may vary by location

EcoWatch's Andover, MN Solar Cost FAQs

How much does it cost to install solar panels in Andover?

The average cost of solar panels in Andover 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 stuff like the type of solar panels you want, what size system you need and how much energy you consume.

Is it better to lease or buy solar panels in Andover?

Leasing solar panels can be an option if you can't afford to pay upfront or secure a solar loan, but since you don't own the system, you don't have access to many solar incentives. Also your home value won't increase, so you'll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most savings from going solar.

Does Andover have a net metering program?

The majority of states offer net metering programs of some kind. Through these, you can be compensated for the extra power your system produces 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 many solar panels do I need to power my home?

To figure out what solar panel system size you need, you should find out how much energy your home uses 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.

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