Solar Panel Cost Guide in Annandale, MN (Mar 2023)
- Annandale Solar Installation Cost: $14,174
- 25-Year Savings: $17,865
- Payback Period: 11.1 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Annandale
We break down average solar pricing in Annandale.
In Annandale, solar panels cost about 2.84 per watt on average. Since a 7.1-kW system is needed to cover the energy costs of a typical home in Annandale, the average price of going solar will be about $14,174 after claiming the federal solar tax credit of 30%.
The true cost of your system can go above or below the average in Annandale depending on a few factors, such as the model of solar panels you choose and the solar installer you hire. With typical savings of about $17,000 on electricity bills over 20 years, many homeowners in Annandale find installing solar panels can pay off big.
Click the button below to get connected to a top solar installer in Annandale for a custom estimate.
Solar savings over time in Annandale
| Year | Return on Investment |
|---|---|
| 1 years | $-12,893 |
| 3 years | $-10,330 |
| 5 years | $-7,767 |
| 7 years | $-5,203 |
| 9 years | $-2,640 |
| 11 years | $-77 |
| 13 years | $2,486 |
| 15 years | $5,049 |
| 17 years | $7,612 |
| 19 years | $10,176 |
| 21 years | $12,739 |
| 23 years | $15,302 |
| 25 years | $17,865 |
Top Solar Installers in Annandale
When going solar, many homeowners prefer to hire a solar installation company since handling can be a difficult project. Plus, if you aren't sure what kind of solar panels and equipment you may need, a solar expert can help you figure that out after a site survey and consultation.
There are various licensed solar professionals that can help you install your solar system. Here are our suggestions:
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
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
See all of the solar companies in Annandale
Factors that Affect Solar Panel Costs in Annandale
The cost of installing a solar system in Annandale can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The largest one is your system size, and other factors include the equipment you choose, financing options and the solar company you choose.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of installing solar panels 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 spend about $2,840 per kilowatt in Annandale. The brand of solar panels and equipment you choose is another factor that will considerably influence costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to cost more. Furthermore, solar equipment goes beyond just the solar panels themselves. You'll also need to consider the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when researching a solar system that's in your budget.
Solar Financing Terms
Many homeowners find the average cost of solar in Annandale to be prohibitively expensive, 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 due to interest. When considering your overall cost, you should also calculate the interest you'll pay if you opt for a solar loan. Also, paying more on your down payment can lower the total interest paid over time.
Solar Panel Installation Company
The solar installation company you select will influence your total cost to adopt solar power. Different companies will bill different amounts for the equipment and labor. Larger national companies usually have lower costs, but some local companies undercut them by promoting sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or add-on services like electric vehicle 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 | $14,573 | 11.5 years |
| 8 kW | $2.90 | $16,222 | $19,748 | 11.3 years |
| 10 kW | $2.84 | $19,880 | $25,083 | 11.1 years |
| 12 kW | $2.78 | $23,379 | $30,576 | 10.8 years |
| 14 kW | $2.73 | $26,719 | $36,229 | 10.6 years |
| 16 kW | $2.67 | $29,900 | $42,041 | 10.4 years |
| 18 kW | $2.61 | $32,921 | $48,012 | 10.2 years |
| 20 kW | $2.56 | $35,784 | $54,142 | 9.9 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you decide on the right company for you, here are some tips to keep in mind:
- Installation Process: When going solar, it's necessary to maintain an open line of communication with your solar company. Confirm that you understand how the installation process will go and the project timeline.
- 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 project through, but will also provide quality aftercare and customer support, such as part repairs and replacements.
- Contract: Although reading through a contract can take a lot of time, it's important to do it fully so you can make sure you understand what services your solar company will provide and how part repairs and replacements will be handled.
- Solar Panel Brands: Different companies offer various brands and models of panels. If you know you want a specific brand, make sure the solar installer you're considering has it.
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
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
EcoWatch's Annandale, MN Solar Cost FAQs
What is the average cost of installing solar panels in Annandale?
The average cost of solar panels in Annandale 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 stuff such as the type 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.
How will installing solar panels impact the value of my home?
Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Annandale is currently $242,300, so you can expect a value of about $9,934 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Annandale is a rewarding investment.
How long do solar panels last in Annandale?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is how much energy they produce will have decreased significantly after that point. You can opt to replace them once you've had them for that long or you can keep using them at a lower efficiency.
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.