Solar Panel Cost Guide in Big Lake, MN (2024 Update)
- Big Lake Solar Installation Cost: $20,198
- 25-Year Savings: $20,301
- Payback Period: 14.6 Years
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Average Cost of Solar Panels in Big Lake
We break down average solar pricing in Big Lake.
While the national average of solar panels is $2.66 per watt, solar panels in Big Lake generally cost around 4.The average solar panel system size in Big Lake is around 7.2 kilowatts, meaning a cost of about $20,198 for a solar installation, or $28,883 before the 0 federal solar tax credit is applied.
The true price you pay can be above or below the average in Big Lake depending on a variety of factors, such as the model of solar panels you choose and the solar installer you hire.Many homeowners find installing a solar system is a sound investment. The average homeowner in Big Lake can save around $18,000 on their power bills over 20 years.
For a personalized quote from a local solar installer that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Big Lake
| Year | Return on Investment |
|---|---|
| 1 years | $-18,919 |
| 3 years | $-16,360 |
| 5 years | $-13,801 |
| 7 years | $-11,242 |
| 9 years | $-8,683 |
| 11 years | $-6,124 |
| 13 years | $-3,565 |
| 15 years | $-1,006 |
| 17 years | $1,552 |
| 19 years | $4,111 |
| 21 years | $6,670 |
| 23 years | $9,229 |
| 25 years | $11,788 |
Top Solar Installers in Big Lake
Although you can install solar panels yourself, it requires extra time and handiness. Because of that, most people choose a solar panel installer. Another good thing about going with a vetted solar installer is that it'll usually provide warranties and free repairs, which help protect your investment.
Working with a licensed solar company can make going solar easier. Here are our recommendations:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- 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
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 Big Lake
Factors that Affect Solar Panel Costs in Big Lake
There are many factors that can affect your installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that performs the installation.
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 power your household consumes, the larger your system will likely need to be. You can expect to pay about $4,030 per kilowatt in Big Lake.The type of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you choose the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. On the other hand, more efficient panels could save you more over time on your electric bills. Additionally, add-on products, such as solar batteries, can bring your total well above the Big Lake average.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be challenging. Solar loans are available from most installers in Big Lake, which can lower, or in some cases eliminate, your upfront costs to make solar more affordable.You’ll have to consider the long-term cost of loans, including the total interest you’ll pay over the length of the loan. If you’re only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the principal cost. Making a larger down payment or securing a solar loan with a low interest rate could reduce your costs significantly.
Solar Panel Installation Company
The remaining significant cost factor you should take into consideration is the installer you choose. Given the growing popularity of clean energy solutions in Big Lake, you’ll have a great number of options to choose from, but each comes at different price points for labor and equipment.The size of the company can sometimes play the most significant role in the installation costs. Larger national companies, like SunPro and Sunrun, often have lower prices because of more resources and bulk 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 lower 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 | $4.19 | $17,603 | $11,337 | 15.2 years |
| 8 kW | $4.11 | $23,019 | $15,568 | 14.9 years |
| 10 kW | $4.03 | $28,210 | $20,024 | 14.6 years |
| 12 kW | $3.95 | $33,175 | $24,706 | 14.3 years |
| 14 kW | $3.87 | $37,914 | $29,613 | 14.0 years |
| 16 kW | $3.79 | $42,428 | $34,747 | 13.7 years |
| 18 kW | $3.71 | $46,716 | $40,105 | 13.5 years |
| 20 kW | $3.63 | $50,778 | $45,690 | 13.2 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 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:
- Contract: Though reading through a contract can be tedious, it’s important to do it fully so you can make sure you understand what services your solar company will provide and how part repairs and replacements will be handled.
- Installation Process: Get details from your solar installer about the installation process and what to expect, such as when the site survey will be done and how long it will take.
- Reputation: Well-established companies likely have a high 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.
- Solar Panel Brands: The type of solar panel you’d like to get plays a part in which company you should go with, since different companies have access to different panels.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- 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
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 Big Lake, MN Solar Cost FAQs
What is the average cost of installing solar panels in Big Lake?
The average cost of solar panels in Big Lake 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 such as the type of solar panels you want, what size system you need and how much energy you use.
Can you get solar panels for free in Big Lake?
You can’t get solar panels for free in Big Lake. However, you may still be able to afford them on a lower budget. You can lease solar panels for a low upfront cost or, if you’d rather own your solar panels, you can finance them with a solar loan.
Can you sell solar power back to the grid in Big Lake?
The majority of states have net metering programs of some kind. Through these, you can get paid for the extra power your system produces 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 what solar panel system size you need, you should find out how much energy your home needs 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 household 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.