Solar Panel Cost Guide in Baldwin, MN (Jan 2023)
- Baldwin Solar Installation Cost: $14,234
- 25-Year Savings: $24,123
- Payback Period: 9.3 Years
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Updated January 20, 2023
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Average Cost of Solar Panels in Baldwin
Find out what the average cost of solar panels are in Baldwin.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Baldwin, the typical cost of a solar system is $3 per watt. Since a 7.2-kW system is needed to cover the energy costs of a typical home in Baldwin, the average price of going solar will be about $14,234 before claiming the federal solar tax credit of 30%.
These figures are only averages, and how much solar costs for you may vary based on your specific situation and what company you choose to go with. But, once you've paid the initial cost of installation, the savings for most homeowners is typically rewarding, with a net average savings of about $20,000 over 20 years on electricity bills.
Click the button below to get connected to a highly rated solar company in Baldwin for a custom estimate.
Solar savings over time in Baldwin
| Year | Return on Investment |
|---|---|
| 1 years | $-12,700 |
| 3 years | $-9,631 |
| 5 years | $-6,563 |
| 7 years | $-3,494 |
| 9 years | $-425 |
| 11 years | $2,643 |
| 13 years | $5,712 |
| 15 years | $8,780 |
| 17 years | $11,849 |
| 19 years | $14,917 |
| 21 years | $17,986 |
| 23 years | $21,055 |
| 25 years | $24,123 |
Top Solar Installers in Baldwin
Trying to put up solar panels by yourself can be a time-consuming project, which is why using a solar installation company is a good option for many homeowners. The expertise that solar installers offer can be valuable as well, especially if you aren't sure what brand of solar equipment you need.
Working with a licensed solar installer can help you make the most of your investment in solar. Here are our recommendations:
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 Baldwin
Factors that Affect Solar Panel Costs in Baldwin
While the average cost of a solar system in Baldwin is $14,234, your actual cost may be above or below the average. There are many factors that can have a significant impact on the cost of a residential solar panel installation. Below are some of the more important things to consider.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of going solar. Because of that, it's important to accurately gauge the size of the solar energy system needed for your home by figuring out your typical energy use. The solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you get the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. However, higher efficiency could save you more over time on your power bills. Additionally, add-on products, such as solar batteries, can bring your total well above the Baldwin average.
Solar Financing Terms
If paying for solar panels out of pocket is out of reach, solar loans are an affordable choice because they decrease your upfront costs and allow you to pay for your system over five to seven years on average. It's a good idea to add the interest you'll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and the amount of time it'll take to pay back the loan.
Solar Panel Installation Company
The solar company you select will affect your total cost to adopt solar energy. Different companies will charge different amounts for the equipment and labor. Additionally, some companies in Baldwin are more knowledgeable about local solar incentives and can help you take advantage 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 | $2.95 | $12,405 | $19,738 | 9.6 years |
| 8 kW | $2.90 | $16,222 | $26,635 | 9.5 years |
| 10 kW | $2.84 | $19,880 | $33,692 | 9.3 years |
| 12 kW | $2.78 | $23,379 | $40,907 | 9.1 years |
| 14 kW | $2.73 | $26,719 | $48,282 | 8.9 years |
| 16 kW | $2.67 | $29,900 | $55,815 | 8.7 years |
| 18 kW | $2.61 | $32,921 | $63,508 | 8.5 years |
| 20 kW | $2.56 | $35,784 | $71,360 | 8.3 years |
How to Save on Solar Panels
Since the model of solar panels and the installation company you choose has an impact on 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:
- Solar Panel Brands: Not all solar installers 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 opt for.
- Warranty: A comprehensive, long-term warranty can help keep your solar system running smoothly and save you money on part replacement and repairs.
- Contract: Before you sign a contract with a solar company, make sure you look it over carefully so you understand the terms. Also, ask questions if you're not sure about some of the terms, such as what the warranty covers and what services you can expect from them.
- Reputation: Long-running companies likely have a good 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.
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 Baldwin, MN Solar Cost FAQs
How much does it cost to install solar panels in Baldwin?
This is a difficult question to answer precisely, because the cost depends on many factors. Generally speaking, it costs about $14,200 for a 5-kW system and $28,400 for a 10-kW system after the ITC is applied. It will be more expensive if you want additional solar equipment or more efficient panels, or if you have higher-than-average energy consumption. Conversely, you can spend less if you want a smaller solar panel system or less expensive solar panels.
Can you get solar panels for free in Baldwin?
A solar panel system isn't free in Baldwin, but there are some options that can make getting them more feasible, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can further reduce the cost.
Is it worth going solar in Baldwin?
Whether or not solar panels are worth it depends on some different factors like the cost of electricity near you and how much direct sunlight your roof gets.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy usage and how much sunlight your roof gets. You can take a look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to get between 20 and 35 panels to account for their typical energy usage.
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.