Solar Panel Cost Guide in Big Lake, MN (2025 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.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Big Lake, the average cost of a solar system is 4 per watt.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.
Keep in mind that the figures above are only estimates based on the average Big Lake homeowner. The cost of a solar system for your home may be different depending on factors unique to your situation, like your household energy use and solar contractor.But, once you've paid the upfront cost of installation, the savings for most homeowners is quite fruitful, 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 top solar company in Big Lake that can help you get a more accurate cost estimate for your home.
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
When making the switch to solar, many homeowners choose to hire a solar installation company since handling can be a challenging project. Another great thing about going with a reliable solar installer is that it'll likely provide warranties and free repairs, which help protect your investment.
You can get a free quote from a local solar installer on how much your investment in solar could cost for your home. Here are some near you:
See all of the solar companies in Big Lake
Factors that Affect Solar Panel Costs in Big Lake
For many Big Lake homeowners, the decision to go solar comes down to cost. However, the range of solar installation costs can be quite wide in Big Lake, with typical prices between $20,000 to $40,000. There are several factors that greatly influence the price you’ll pay, which we'll go over below.
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 largely based on your home’s energy consumption, which you can figure out by looking at past energy bills. Your overall cost can increase by about $4,030 for each additional kilowatt you need.The model of solar panels and equipment you want is another factor that will substantially impact costs. Solar panels that are more efficient, like monocrystalline panels, tend to come at a higher price. Moreover, solar equipment is more than just the solar panels themselves. You’ll also need to consider the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when researching a solar system that’s in your budget.
Solar Financing Terms
Most solar installers in Big Lake offer solar loans, which reduce your upfront costs of installing solar.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
A final factor to keep in mind when trying to estimate the cost of solar for your home or business in Big Lake is the company you get to install your solar panel system. Similar to choosing a company to build a deck or pool, for example, there are plenty of solar installers that provide a range of services for different budgets.Larger national companies generally have lower costs, but some local companies keep up with them by offering sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or extra services like electric car charger installation, they might be cheaper overall.
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
The company that does your solar panel installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Since picking a company can be difficult, we have some tips to help you, such as:
- Contract: Even though reading through a contract can take a lot of time, it’s important to do it carefully so you can be sure you understand how much the equipment and services will cost and the terms of the warranty.
- Installation Process: One of the most important things to understand when going solar is the installation process itself. Be sure to clarify any details you should know with your solar company, such as what permits you should secure and what the project timeline is.
- Reputation: Make sure your solar company has a good reputation by confirming it has certifications and licenses, checking its number of years in business and reading reviews by past customers and solar experts like the EcoWatch team.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their roof configurations and how much efficiency they need. While there are many options for which kind of solar panel you can get, not every company will have access to the exact one you may want or need, so be sure to take a look at their list of offerings before deciding.
EcoWatch's Big Lake, MN Solar Cost FAQs
How much does it cost to install solar panels in Big Lake?
This is a tough question to answer exactly, because the cost depends on a variety of factors. Generally speaking, it costs about $20,150 for a 5-kW system and $40,300 for a 10-kW system after the ITC is applied. It will cost more if you want additional solar equipment or higher quality panels, or if you have above-average energy needs. On the flip side, you can spend less if you go with a smaller solar panel system or less efficient solar panels.
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 prefer to own your solar panels, you can finance them with a solar loan.
Does Big Lake have a net metering program?
Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just give you credit toward your future electricity bills.
How many solar panels should I get to power my home?
To figure out how many solar panels 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 typically produce about 250 to 400 watt-hours per hour, the average home 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.