Solar Panel Cost Guide in Anoka, MN (Jan 2023)
- Anoka Solar Installation Cost: $14,274
- 25-Year Savings: $19,446
- Payback Period: 10.6 Years
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Top Solar Installers in Anoka
Although it's possible to install solar panels yourself, it takes extra labor and expertise. That's one of the reasons the majority of homeowners choose to go with a solar panel installer. Also, companies with a high reputation that are more expensive upfront could actually save you money in the long run 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:
See all of the solar companies in Anoka
Factors that Affect Solar Panel Costs in Anoka
For many Anoka homeowners, the decision to adopt solar energy rests on cost. However, the range of solar installation costs can be quite wide in Anoka, with typical prices between $20,000 to $40,000. There are numerous factors that significantly influence the price you'll pay, which we'll go over below.
The cost of solar panel systems varies by thousands of dollars due to a variety of factors. One of the key factors is the system size, which is measured in kilowatts (kW). Solar power systems with higher efficiency or power production use 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 $2,840. The type of solar panels and equipment you get is another factor that will substantially influence costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to come at a higher price. Further, 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
Solar panels can save you money on power bills over time, but they can also be a significant investment. That's why many Anoka homeowners opt to finance their solar panel systems to offset upfront costs. However, the interest on solar loans also increases your total costs, so it's crucial to consider that as well. You can always bring down the total you pay in interest and sometimes even your APR by putting more money down.
Solar Panel Installation Company
The solar panel installer you pick will play a role in your total cost to go solar. Different companies will charge different amounts for the equipment and labor. Larger national companies generally have lower costs, but some local companies undercut them by offering sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or extra 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||$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|
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Since choosing a company can be difficult, we have some tips to help you, such as:
- Contract: Before signing a contract with a solar installer, make sure to read it through completely so you understand the terms. Also, ask questions if you're unsure about some of the terms, such as what to do if a component breaks or malfunctions and what services you can expect from them.
- Solar Panel Brands: Different companies will offer different brands and types of panels. If you prefer a specific brand, make sure the solar panel company you're considering has it.
- Warranty: Warranties that cover panel repairs and maintenance over a couple decades are the best you can get in the business, and offering such a warranty is one mark of a quality company.
- Reputation: Well-established companies likely have a solid 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.
EcoWatch's Anoka, MN Solar Cost FAQs
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.