Solar Panel Cost Guide in Bayport, MN (Mar 2023)
- Bayport Solar Installation Cost: $14,353
- 25-Year Savings: $21,433
- Payback Period: 10.0 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Bayport
Find out what the average cost of installing solar panels is in Bayport.
In Bayport, solar panels cost about 2.84 per watt on average. The average Bayport homeowner needs a 7.2-kilowatt system, which would cost about $14,353 with the federal tax credit, or $20,525 before the 30% tax credit is applied.
The prices above are just estimates to give you an idea of how much solar panels could cost. The exact cost of going solar can vary quite a bit depending on a few factors, such as how many panels you need, your energy consumption and what company you go with. For most homeowners, the upfront cost of solar is worth paying. On average Bayport homeowners see about $19,000 in savings on energy bills over 20 years.
To receive a free quote from a pre-vetted solar installer in Bayport, you can click the button below.
Solar savings over time in Bayport
| Year | Return on Investment |
|---|---|
| 1 years | $-12,922 |
| 3 years | $-10,059 |
| 5 years | $-7,196 |
| 7 years | $-4,333 |
| 9 years | $-1,470 |
| 11 years | $1,392 |
| 13 years | $4,255 |
| 15 years | $7,118 |
| 17 years | $9,981 |
| 19 years | $12,844 |
| 21 years | $15,707 |
| 23 years | $18,570 |
| 25 years | $21,433 |
Top Solar Installers in Bayport
Many homeowners decide to hire a solar panel installer since installing solar panels by yourself can be hard. A solar installer can also help save you money in the long run by providing warranties, repairs and part replacements.
There are a number of licensed solar professionals that can help you install your solar panels. 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 Bayport
Factors that Affect Solar Panel Costs in Bayport
The cost of installing a solar system in Bayport can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The most significant one is your system size, and other factors include equipment choices, financing options and the solar installer you choose.
Solar Equipment
The size of the solar system you need for your home, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, your total will most likely increase by about $2,840. There are many different solar panel brands and the one you choose also affects the cost. Generally, the brands that are more efficient tend to also cost more. Plus, the type of equipment you want to install can affect your total cost. If you only need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Many homeowners find the average cost of solar in Bayport to be too steep, even if the investment pays off over time. Fortunately, almost every solar company in the area offers financing options. Solar loans remarkably decrease upfront costs for most homeowners, but they also result in paying more over time because of interest. When trying to figure out your overall cost, you should also calculate the interest you'll pay if you decide on a solar loan. Also, paying a higher down payment can reduce the total interest paid over time.
Solar Panel Installation Company
The final key cost factor you should take into consideration is the installer you choose. Given the growing popularity of green energy solutions in Bayport, you'll have lots of options to choose from, but each comes at varying price points for labor and equipment. The size of the company can sometimes play the most significant role in your total costs. Larger national companies, like SunPro and Sunrun, often have lower pricing because of more resources and better pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or promotion can bring their pricing down to compete with bigger companies.
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 | $17,331 | 10.4 years |
| 8 kW | $2.90 | $16,222 | $23,426 | 10.2 years |
| 10 kW | $2.84 | $19,880 | $29,680 | 10.0 years |
| 12 kW | $2.78 | $23,379 | $36,093 | 9.8 years |
| 14 kW | $2.73 | $26,719 | $42,665 | 9.6 years |
| 16 kW | $2.67 | $29,900 | $49,396 | 9.4 years |
| 18 kW | $2.61 | $32,921 | $56,286 | 9.2 years |
| 20 kW | $2.56 | $35,784 | $63,335 | 9.0 years |
How to Save on Solar Panels
Since the kind of solar panels and the installer you choose greatly affects your costs and your system's efficiency, production, and durability, it's important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- Contract: Read the contract terms closely to make sure you understand the cost breakdown, project completion timeline incentives and warranties.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their roof configurations and how much efficiency they need. Although there are many options for which model of solar panel you can get, not every company will have the exact one you may want or need, so make sure you ask for their list of options before making your decision.
- Installation Process: Get detailed information from your solar company about the installation process and what to expect, such as when the site survey will be completed and what the project timeline is.
- Reputation: Make sure your solar panel installer has a good reputation by confirming it has certifications and licenses, checking how long it's been in business and reading reviews by past customers and solar experts like EcoWatch.
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 Bayport, MN Solar Cost FAQs
What is the average cost of installing solar panels in Bayport?
The average cost of solar panels in Bayport is about $14,200 for a 5-kW system and $28,400 for a 10-kW system before the ITC, but the real cost will depend on stuff such as the kind of solar panels you want, what size system you need and how much energy you consume.
Can you get solar panels for free in Bayport?
Solar panels aren't free in Bayport, 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 help lower the cost.
Do solar panels increase your property value?
Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Bayport is currently $248,900, so you can look forward to a value of about $10,205 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Bayport is a fruitful investment.
What solar power system size is right for my home?
To figure out what solar panel system size 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 usually produce about 250 to 400 watt-hours per hour, the average house 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.