Solar Panel Cost Guide in Baxter, MN (2024 Update)
- Baxter Solar Installation Cost: $20,390
- 25-Year Savings: $16,453
- Payback Period: 16.5 Years
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Average Cost of Solar Panels in Baxter
Find out what the average cost of solar panels are in Baxter.
Although the national average of solar panels is $2.66 per watt, solar panels in Baxter typically cost around 4.The average solar panel system size in Baxter is around 7.2 kilowatts, meaning a cost of about $20,390 for a solar installation, or $29,158 before the 0 federal solar tax credit is applied.
Keep in mind that the figures above are only estimates based on the average energy use of Baxter homeowners. The cost of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor.But, after you've paid the initial cost of installation, the payback for most homeowners is quite good, with a net average savings of about $16,000 over 20 years on power bills.
Click the button below to get connected to a vetted solar panel company in Baxter for a personalized quote.
Solar savings over time in Baxter
| Year | Return on Investment |
|---|---|
| 1 years | $-19,348 |
| 3 years | $-17,266 |
| 5 years | $-15,183 |
| 7 years | $-13,100 |
| 9 years | $-11,017 |
| 11 years | $-8,934 |
| 13 years | $-6,851 |
| 15 years | $-4,768 |
| 17 years | $-2,685 |
| 19 years | $-603 |
| 21 years | $1,480 |
| 23 years | $3,563 |
| 25 years | $5,646 |
Top Solar Installers in Baxter
Although you can install solar panels by yourself, it requires extra time and expertise. For that reason, almost all homeowners choose to go with a solar panel installer. Since solar panels are exposed to temperature swings and extreme weather, warranties and repairs from your solar installer can help you get the most out of your investment in solar panels by reducing potential costs down the line.
If you’d like to go solar but still aren’t certain which solar system installer to go with, here are our recommendations for providers 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 Baxter
Factors that Affect Solar Panel Costs in Baxter
While the average cost of a solar system in Baxter is $20,390, your final cost may differ. There are quite a few factors that can have a sizable impact on the cost of a solar panel installation. Below are some of the more crucial things to consider.
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 electricity your household consumes, the larger your system will likely need to be. You can expect to pay around $4,030 per kilowatt in Baxter.The kind of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you opt for the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. However, more efficient panels could save you more in the long run on your power bills. In addition, add-on products, such as solar batteries, can bump up your total well above the Baxter average.
Solar Financing Terms
If paying for solar panels in cash is difficult, solar loans are a popular option because they cut back your upfront costs and let you pay for your system over a term of, on average, between five and seven years.It’s a good idea 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
The solar company you choose will play a role in your total cost to go solar. Different companies will bill different amounts for the equipment and labor.Additionally, some companies in Baxter know more 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 | $7,983 | 17.2 years |
| 8 kW | $4.11 | $23,019 | $11,096 | 16.9 years |
| 10 kW | $4.03 | $28,210 | $14,434 | 16.5 years |
| 12 kW | $3.95 | $33,175 | $17,997 | 16.2 years |
| 14 kW | $3.87 | $37,914 | $21,787 | 15.9 years |
| 16 kW | $3.79 | $42,428 | $25,802 | 15.5 years |
| 18 kW | $3.71 | $46,716 | $30,043 | 15.2 years |
| 20 kW | $3.63 | $50,778 | $34,509 | 14.9 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 brands and price points. To help you pick the right company for you, here are some tips to keep in mind:
- Contract: It’s important to read your solar installer’s contract well to understand what services they will provide, what the warranty covers and what expectations you should have about the cost.
- Solar Panel Brands: Each solar panel brand and kind offers varying levels of quality, longevity and energy efficiency. They will come at different prices as well. The company you choose has an impact on which solar panel brands you have access to.
- Reputation: Long-running companies likely have a high reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide quality aftercare and customer support, such as part repairs and replacements.
- Installation Process: Homeowners should understand how exactly the installation process will be carried out, as well as important factors like the project 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 Baxter, MN Solar Cost FAQs
How much does it cost to install solar panels in Baxter?
This is a tough question to answer precisely, 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. You can expect to pay more if you want extra solar equipment or more efficient panels, or if you have higher-than-average energy usage. Conversely, you can spend less if you want a smaller solar panel system or cheaper solar panels.
What other factors should I consider aside from cost when buying solar panels?
The initial cost is a crucial factor to consider, but whether it’s the most important for you depends on why you decided to go solar. In cities where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to consider are the quality and durability of your solar panels.
Do solar panels increase how much your home is worth?
Installing solar panels on your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Baxter is currently $343,397, so you could be looking at a value of about $14,079 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Baxter is a fruitful investment.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy needs and the average daily sunlight your roof gets. You can 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.