Solar Panel Cost Guide in Big Lake, MN (2023 Update)
- Big Lake Solar Installation Cost: $14,234
- 25-Year Savings: $20,301
- Payback Period: 10.3 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Big Lake
We go over average solar pricing in Big Lake.
The national average cost of solar panels is $2.66 per watt, but in Big Lake it's 2.84 per watt. To cover the typical energy needs of the average home in Big Lake, most homeowners require a 7.2-kilowatt system. Using the figure above, a solar installation costs around $14,234, or $20,355 before the federal solar tax credit of 30% is applied.
These figures are just averages, and the cost of going solar for you may look different based on your energy needs and what company you choose to go with. But, after you've paid the upfront cost of installation, the savings for most homeowners is quite rewarding, with a net average savings of about $18,000 over 20 years on utility bills.
You can click the button below to get connected with a pre-vetted solar company in Big Lake for a quote for your home.
Solar savings over time in Big Lake
| Year | Return on Investment |
|---|---|
| 1 years | $-12,853 |
| 3 years | $-10,090 |
| 5 years | $-7,327 |
| 7 years | $-4,564 |
| 9 years | $-1,801 |
| 11 years | $962 |
| 13 years | $3,724 |
| 15 years | $6,487 |
| 17 years | $9,250 |
| 19 years | $12,013 |
| 21 years | $14,776 |
| 23 years | $17,539 |
| 25 years | $20,301 |
Top Solar Installers in Big Lake
Do-it-yourself solar panel installation is a way to cut costs, but it's an undertaking that can be a headache. Going with a solar panel installer can make converting to solar power much easier. The expertise that solar companies offer can be valuable as well, particularly if you aren't sure what brand of solar equipment would be right for your home.
You can get a free estimate from a local solar installer on how much solar panels could cost for your home. Here are some near you:
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
The cost of installing a solar system in Big Lake can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The largest one is the size of the system your home needs, and other factors include equipment choices, financing options and the solar company you choose.
Solar Equipment
When it comes to estimating the cost of a solar panel system in Big Lake, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are mainly based on your home's energy usage, which you can gauge by looking at past electricity bills. Your overall cost can increase by about $2,840 for each additional kilowatt you need. The kind of solar equipment you choose can bring your price up or down 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, higher efficiency could save you more in the long run on your electric bills. In addition, extra products, like solar batteries, can bring your total well above the Big Lake average.
Solar Financing Terms
Solar panels can save you money on energy bills over time, but they can also be a big investment. That's why many Big Lake homeowners decide to finance their solar panel systems to make going solar more affordable. It's a good idea to add 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 how long it'll take to pay back the loan.
Solar Panel Installation Company
Finally, the company you hire to install your solar system can impact how much it costs. Big Lake's solar companies all have different labor costs and add varying upcharges to equipment. The company's size can sometimes play the most considerable role in your total costs. Larger national companies, like SunPro and Sunrun, often have lower pricing due to access to greater 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 discount 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 | $2.95 | $12,405 | $16,535 | 10.7 years |
| 8 kW | $2.90 | $16,222 | $22,365 | 10.5 years |
| 10 kW | $2.84 | $19,880 | $28,354 | 10.3 years |
| 12 kW | $2.78 | $23,379 | $34,502 | 10.1 years |
| 14 kW | $2.73 | $26,719 | $40,809 | 9.9 years |
| 16 kW | $2.67 | $29,900 | $47,275 | 9.7 years |
| 18 kW | $2.61 | $32,921 | $53,900 | 9.5 years |
| 20 kW | $2.56 | $35,784 | $60,684 | 9.3 years |
How to Save on Solar Panels
The solar installer you choose will impact not only your overall costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are several important things you should keep in mind, including:
- Reputation: Make sure your solar installer has a good reputation by confirming it has certifications and licenses, checking its work history and reading reviews by past customers and solar experts like the EcoWatch team.
- Solar Panel Brands: The type of solar panel you need to get plays a part in which company you should opt for, since different companies offer different panels.
- Contract: Review the contract terms carefully to make sure you understand the cost breakdown, project timeline rebates and warranties.
- Installation Process: Make sure you're aligned with the installer in regard to how the installation process will go and what you need to do before your solar panel system is installed, such as repairing your electrical system or roof.
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 $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 model of solar panels you want, what size system you need and how much energy you consume.
Is it better to lease or buy solar panels in Big Lake?
Leasing solar panels can be an option if you can't pay upfront or secure a solar loan, but since you don't own the system, you can't take advantage of many solar incentives. Also your home value won't increase, so you'll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most financial benefits from going solar.
Can you sell solar power back to the grid in Big Lake?
Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just give you credit toward your future energy bills.
How often do you have to replace solar panels?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher amount of energy production.
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.