Solar Panel Cost Guide in Andover, MN (2024 Update)
- Andover Solar Installation Cost: $20,251
- 25-Year Savings: $19,448
- Payback Period: 15.0 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Why you can trust EcoWatch
Average Cost of Solar Panels in Andover
We break down average solar pricing in Andover.
In Andover, solar panels cost about 4 per watt on average.Since a 7.2-kW system is needed to cover the energy needs of a typical home in Andover, the average price of going solar will be about $20,251 after claiming the federal solar tax credit of 0.
Bear in mind that the figures above are only estimates based on the average energy use of Andover homeowners. The price of a solar system for your home may look different depending on factors unique to you, like your household energy use and solar contractor.With typical savings of about $18,000 on power bills over 20 years, many homeowners in Andover find investing in solar has a decent ROI.
To get a free estimate from a highly rated solar installation company in Andover, you can click the button below.
Solar savings over time in Andover
| Year | Return on Investment |
|---|---|
| 1 years | $-18,989 |
| 3 years | $-16,464 |
| 5 years | $-13,939 |
| 7 years | $-11,414 |
| 9 years | $-8,888 |
| 11 years | $-6,363 |
| 13 years | $-3,838 |
| 15 years | $-1,313 |
| 17 years | $1,212 |
| 19 years | $3,737 |
| 21 years | $6,262 |
| 23 years | $8,787 |
| 25 years | $11,312 |
Top Solar Installers in Andover
Trying to install solar panels on your own can be a dangerous task, which is why using a solar installer is a good option for many homeowners. Plus, warranties and repairs from your solar panel company can protect your investment and lower the cost of maintenance over time.
You can work with a local solar installer to get a free quote on how much your investment in solar could cost for your home. Here are some near you:
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 Andover
Factors that Affect Solar Panel Costs in Andover
Though the average cost of a solar system in Andover is $20,251, your final cost may be higher or lower than that. There are many factors that can have a major impact on the cost of a solar system installation. Below are some of the more crucial things to take into consideration.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to some different factors. One of the key factors is the system size, which is measured in kilowatts (kW). Solar power systems with higher efficiency or power generation 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 $4,030.The brand of solar panels and equipment you get is another factor that will significantly influence costs. Solar panels that are more efficient, like monocrystalline panels, tend to cost more. Moreover, solar equipment is more than just the solar panels themselves. You’ll also need to decide on 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 falls within your budget.
Solar Financing Terms
Most solar companies in Andover offer solar loans, which reduce the initial cost of installing solar panels.It’s wise to include the interest you’ll pay in your final cost estimate. If you can afford to pay a larger down payment, you can reduce your total costs and the amount of time it’ll take to pay off the loan.
Solar Panel Installation Company
Lastly, the company you hire to install your solar system can play a part in determining the cost. Andover’s solar companies all have different labor costs and add varying upcharges to equipment. You may come across national solar installers that have lower prices due to their bigger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or specials to compete with those larger companies.
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 | $10,579 | 15.6 years |
| 8 kW | $4.11 | $23,019 | $14,557 | 15.3 years |
| 10 kW | $4.03 | $28,210 | $18,761 | 15.0 years |
| 12 kW | $3.95 | $33,175 | $23,190 | 14.7 years |
| 14 kW | $3.87 | $37,914 | $27,845 | 14.4 years |
| 16 kW | $3.79 | $42,428 | $32,726 | 14.1 years |
| 18 kW | $3.71 | $46,716 | $37,832 | 13.8 years |
| 20 kW | $3.63 | $50,778 | $43,164 | 13.5 years |
How to Save on Solar Panels
Since the brand of solar panels and the installation company you choose considerably influences your costs and your system’s efficiency, production, and durability, it’s important to select the right ones for you. Here are some tips to keep in mind to help with your decision:
- Reputation: Solar system installers that have great reviews from their customers and that have been in business for many years likely offer high-quality solar panel installation and expertise.
- Contract: Even though reading through a contract can take a lot of time, it’s important to do it carefully so you can be sure you understand how much the equipment and services will cost and the terms of the warranty.
- Solar Panel Brands: The type of solar panel you want to install plays a part in which installer you should go with, since different companies have access to different panels.
- Installation Process: When making the switch to solar power, it’s crucial to maintain an open line of communication with your solar panel installer. See to it that you understand how the installation process will go and the completion timeline.
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 Andover, MN Solar Cost FAQs
How much does it cost to install solar panels in Andover?
This is a tough question to answer exactly, because the cost depends on a few different factors. Broadly speaking, it costs about $20,150 for a 5-kW system and $40,300 for a 10-kW system after the ITC is applied. It will be more expensive if you want extra solar equipment or more efficient panels, or if you have higher-than-average energy consumption. On the flip side, you can spend less if you opt for a smaller solar panel system or less efficient solar panels.
What other factors should I consider in addition to cost when buying solar panels?
Cost is without a doubt one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
How much can I save on electricity bills after switching to solar?
It is possible to erase your electricity bills with solar panels, but for most homeowners throughout Andover, that will require at least a 10-kW system. Not all homes can accommodate that size system, so you’ll want to check with a local solar installer to see how many panels can fit on your roof.
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 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.