Solar Panel Cost Guide in Bradford, MN (Jan 2023)
- Bradford Solar Installation Cost: $14,254
- 25-Year Savings: $23,720
- Payback Period: 9.4 Years
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Updated January 20, 2023
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Average Cost of Solar Panels in Bradford
Find out what the average cost of solar panel installation is in Bradford.
The average cost of solar panels in Bradford is $3 per watt. To cover the typical energy usage of the average home in Bradford, most homeowners require a 7.2-kilowatt system. Using the per-watt figure above, a solar installation costs about $14,254, or $10,548 after the federal solar tax credit of 30% is applied.
The true cost of your system can go higher or lower than the average in Bradford based on a few factors, such as the brand of solar panels you choose and the solar installer you hire. Many homeowners find going solar is a sound investment. The average homeowner in Bradford can save around $20,000 on their power bills over 20 years.
To see your potential ROI and connect with a local solar expert, click the button below.
Solar savings over time in Bradford
| Year | Return on Investment |
|---|---|
| 1 years | $-12,735 |
| 3 years | $-9,697 |
| 5 years | $-6,659 |
| 7 years | $-3,621 |
| 9 years | $-583 |
| 11 years | $2,454 |
| 13 years | $5,492 |
| 15 years | $8,530 |
| 17 years | $11,568 |
| 19 years | $14,606 |
| 21 years | $17,644 |
| 23 years | $20,682 |
| 25 years | $23,720 |
Top Solar Installers in Bradford
Many homeowners opt for a solar panel company since trying to install solar panels by yourself can be hard. Companies can also offer access to quality options of the best solar panels and help you choose which one will be right for you.
If you'd like to go solar but still aren't sure which solar system installer to go with, here are our recommendations for providers nearby:
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 Bradford
Factors that Affect Solar Panel Costs in Bradford
Cost is usually one of the most important factors for homeowners who are considering investing in solar. There are a few primary factors that affect your total cost in Bradford: solar equipment and system size, financing options and the solar installation company you choose. We'll go over each of these briefly below.
Solar Equipment
One of the most important factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more power your household uses, the larger your system will likely need to be. You can expect to pay about $2,840 per kilowatt in Bradford. The kind of solar panels and equipment you want is another factor that will greatly influence costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to come at a higher price. Furthermore, solar equipment goes beyond just the solar panels themselves. You'll also need to think about the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when looking into a solar system that falls within your budget.
Solar Financing Terms
Many homeowners find the average cost of solar in Bradford to be too steep, even if the investment pays off over time. Fortunately, nearly every solar company in the area provides access to financing options. Solar loans remarkably decrease upfront costs for most homeowners, but they also lead to a higher cost over time because of interest. You'll have to consider the long-term cost of financing options, 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 above the equipment and labor cost. Making a larger down payment or getting a solar loan with a low APR could reduce your costs remarkably.
Solar Panel Installation Company
The final major cost factor you should consider is the installer you choose. Given the growing popularity of clean energy solutions in Bradford, you'll have a great number of options to choose from, but each comes at different price points for labor and equipment. You may notice national solar installers that have lower prices because of their larger brand name and access to bulk prices, or you might see small, local installation companies offering deals or specials to compete with those larger 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 | $19,368 | 9.8 years |
| 8 kW | $2.90 | $16,222 | $26,142 | 9.6 years |
| 10 kW | $2.84 | $19,880 | $33,075 | 9.4 years |
| 12 kW | $2.78 | $23,379 | $40,167 | 9.2 years |
| 14 kW | $2.73 | $26,719 | $47,418 | 9.0 years |
| 16 kW | $2.67 | $29,900 | $54,828 | 8.8 years |
| 18 kW | $2.61 | $32,921 | $62,398 | 8.6 years |
| 20 kW | $2.56 | $35,784 | $70,126 | 8.4 years |
How to Save on Solar Panels
The solar panel company you opt for will influence not only your overall costs, but also the types of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are several important things you should consider, such as:
- Contract: Before you sign a contract with a solar installer, make sure to look it over completely so you understand the terms. Also, ask questions if you're not sure about some of the terms, such as what the warranty covers and what services you can expect from them.
- Reputation: Companies that have been operating for many years 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 service, such as part repairs and replacements.
- Solar Panel Brands: The brand of solar panel you'd like to install plays a part in which installer you should choose, since different companies offer different panels.
- 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.
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 Bradford, MN Solar Cost FAQs
How much does it cost to install solar panels in Bradford?
The average cost of solar panels in Bradford is about $14,200 for a 5-kW system and $28,400 for a 10-kW system before the ITC, but the actual cost will depend on certain factors like the kind of solar panels you want, what size system you need and how much energy you use.
Is cost the most important consideration when buying solar panels?
Cost is without a doubt one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
Is making the switch to solar worth it?
Solar panels can be a fruitful investment for lots of homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your electricity bills are already reasonably low, solar panels might not be for you.
How long do solar panels last in Bradford?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher level 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.