Solar Panel Cost Guide in Anoka, MN (2024 Update)
- Anoka Solar Installation Cost: $20,251
- 25-Year Savings: $19,448
- Payback Period: 15.0 Years
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Average Cost of Solar Panels in Anoka
Find out what the average cost of solar panels are in Anoka.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Anoka, the typical cost of solar panels is 4 per watt.To account for the typical energy needs of the average home in Anoka, most homeowners require a 7.2-kilowatt system. Using the per-watt figure above, a solar installation costs around $20,251, or $28,959 before the federal solar tax credit of 0 is applied.
Bear in mind that the figures above are only estimates based on the average energy use of Anoka homeowners. The price of a solar system for your home may look different depending on factors unique to your situation, like your household energy use and solar contractor.For most homeowners, the upfront investment in solar power is worth paying. On average homeowners in Anoka see about $18,000 in savings on utility bills over 20 years.
To see your potential savings and connect with a local solar expert, click the button below.
Solar savings over time in Anoka
| 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 Anoka
Many homeowners decide to use a solar installation company since trying to put up solar panels yourself can be challenging. Solar installers provide key benefits that can help you get the most out of your investment, like warranties, monitoring and free repairs.
If you're searching for a solar installer in Anoka, we've put together a list of our top suggestions here:
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 Anoka
Factors that Affect Solar Panel Costs in Anoka
The cost of installing a solar system in Anoka can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The biggest one is the size of the system your household needs, and other factors include equipment choices, financing options and the solar company you choose.
Solar Equipment
When it comes to estimating the price of solar panels in Anoka, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home’s energy usage, which you can figure out by looking at past electricity bills. Your overall cost can increase by around $4,030 for each additional kilowatt you need.Some solar panel brands — like Maxeon from SunPower — cost more upfront but also tend to offer better efficiency. In a city like Anoka, where sunlight isn’t as abundant, efficiency can quickly pay off. Also, if you have a small roof or you don’t have a lot of space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Anoka to be too expensive, even if the investment pays off over time. Thankfully, nearly every solar company in the area offers financing options. Solar loans drastically decrease upfront costs in most cases, but they also lead to higher prices over time because of interest.However, the interest on solar loans also adds to your total costs, so it’s important to consider that as well. You can always bring down the total you pay in interest and in some cases even your APR by making a larger down payment.
Solar Panel Installation Company
Finally, the company you choose to install your solar system can play a role in determining your pricing. Anoka’s solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Anoka have more knowledge about local solar incentives and can help you make good use of additional rebates or tax exemptions. Though, they may charge more for that service. Even if they cost more upfront, they could end up saving you more money in the long run.
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
There are a lot of 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:
- Solar Panel Brands: Not all solar companies carry the same brands of solar panels, so the brand and type of panel you want can play a considerable role in the company you go with.
- Contract: It’s important to look over your solar installer’s contract carefully to understand what services they will provide, what the warranty covers and what you can expect about the cost.
- Installation Process: Homeowners should understand how exactly the installation process will be carried out, as well as important factors like the project timeline.
- Warranty: A quality company rises above other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
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 Anoka, MN Solar Cost FAQs
How much does it cost to install solar panels in Anoka?
The average cost of solar panels in Anoka is about $20,150 for a 5-kW system and $40,300 for a 10-kW system before the ITC, but the actual 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 cost the most important consideration when buying solar panels?
Cost is without a doubt one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Does Anoka have a net metering program?
The majority of states have net metering programs of some kind. Through these, you can get paid 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.
What solar power system size is right for my home?
To figure out how many solar panels you need, you need to know 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 home 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.