Solar Panel Cost Guide in Buffalo, MN (2024 Update)
- Buffalo Solar Installation Cost: $20,102
- 25-Year Savings: $19,518
- Payback Period: 14.9 Years
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Average Cost of Solar Panels in Buffalo
See how much it might cost to go solar in Buffalo.
The national average cost of solar panels is $2.66 per watt, but in Buffalo it’s 4 per watt.The average solar panel system size in Buffalo is around 7.1 kilowatts, meaning a cost of about $20,102 for a solar installation, or $28,746 before the 0 federal solar tax credit is applied.
These figures are only estimates, and how much solar costs for you may differ based on your specific situation and what company you choose to go with.With typical savings of about $18,000 on utility bills over 20 years, many homeowners in Buffalo find investing in solar has a decent ROI.
Click the button below to get connected to a reputable solar panel company in Buffalo for a personalized quote.
Solar savings over time in Buffalo
| Year | Return on Investment |
|---|---|
| 1 years | $-18,822 |
| 3 years | $-16,263 |
| 5 years | $-13,704 |
| 7 years | $-11,146 |
| 9 years | $-8,587 |
| 11 years | $-6,028 |
| 13 years | $-3,469 |
| 15 years | $-910 |
| 17 years | $1,649 |
| 19 years | $4,208 |
| 21 years | $6,767 |
| 23 years | $9,326 |
| 25 years | $11,884 |
Top Solar Installers in Buffalo
Although it's possible to install solar panels yourself, it takes extra effort and handiness. That's one of the reasons most homeowners choose to hire a solar panel installer. Plus, if you’re not certain what kind of solar panels and equipment you need, a solar expert can help you figure that out after a site survey and consultation.
Working with a vetted solar installer can help your solar project go smoothly. Here are our recommendations:
See all of the solar companies in Buffalo
Factors that Affect Solar Panel Costs in Buffalo
There are many criteria that can influence your solar system 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
Solar system size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of going solar. That’s why it’s crucial to accurately assess the size of the solar energy system needed for your home by figuring out your energy needs.The brand and type of equipment you choose for your solar system can raise or lower the price quite significantly. If you prefer a brand name like Tesla or SunPower, these are often more expensive than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have limited roof space or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to more savings over time. Plus, if you want add-ons like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Buffalo to be too steep, even if the investment pays off over time. Thankfully, almost every solar installer in the area offers financing options. Solar loans substantially decrease upfront costs for most homeowners, but they also lead to paying more over time due to interest.It’s a good idea to factor 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 the amount of time it’ll take to pay back the loan.
Solar Panel Installation Company
The solar installer you go with to handle your switch to clean energy can play a role in your total costs. There are about 3 solar installation companies in Buffalo, and each can charge varying amounts for labor and equipment.Larger national companies typically have lower costs, but some local companies compete with them by offering sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or additional services like electric vehicle 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 | $10,759 | 15.5 years |
| 8 kW | $4.11 | $23,019 | $14,797 | 15.2 years |
| 10 kW | $4.03 | $28,210 | $19,061 | 14.9 years |
| 12 kW | $3.95 | $33,175 | $23,550 | 14.6 years |
| 14 kW | $3.87 | $37,914 | $28,265 | 14.3 years |
| 16 kW | $3.79 | $42,428 | $33,206 | 14.0 years |
| 18 kW | $3.71 | $46,716 | $38,372 | 13.7 years |
| 20 kW | $3.63 | $50,778 | $43,764 | 13.4 years |
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Because choosing a company can be a challenge, we have some tips to help you, such as:
- Contract: Before you sign a contract with a solar installer, be sure to read it through carefully so you understand the terms. Also, ask questions if you aren’t sure about some of the terms, such as what the warranty covers and if there are any guarantees about energy production.
- Reputation: Companies that have been operating for many years likely have a good reputation. This is important because it ensures that it will not only see your solar project through, but will also provide adequate aftercare and customer service, such as part repairs and replacements.
- Warranty: An all-inclusive, 25-year warranty can help keep your solar system running for a long time and save you money on part replacement and repairs.
- Installation Process: Make sure you’re on the same page with the installer regarding how the installation process will go and what you need to do before your solar panels are installed, such as repairing your electrical system or roof.
EcoWatch's Buffalo, MN Solar Cost FAQs
What is the average cost of installing solar panels in Buffalo?
This is a difficult question to answer exactly, because the cost depends on many factors. Broadly 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 extra solar equipment or higher quality panels, or if you have above-average energy usage. On the flip side, you can spend less if you choose a smaller solar panel system or cheaper solar panels.
What other factors should I consider apart from cost when buying solar panels?
The upfront cost is a key factor to consider, but whether it’s the most important for you depends on your goals for going solar. In areas where rooftop space is limited, efficiency can trump the cost. Other factors that are important to think about are the quality and durability of your solar panels.
Is switching to solar power worth it?
Solar panels can be a great 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 energy bills are already reasonably low, solar panels might not be for you.
How often do you have to replace solar panels?
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 larger 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.