Solar Panel Cost Guide in Byron, MN (Mar 2023)

  • Byron Solar Installation Cost: $14,333
  • 25-Year Savings: $22,160
  • Payback Period: 9.8 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated March 14, 2023

Why you can trust EcoWatch

We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Byron

Find out how much it might cost to go solar in Byron.

In Byron, solar panels cost about 2.84 per watt on average. To account for the typical energy needs of the average home in Byron, most homeowners require a 7.2-kilowatt system. Using the figure above, a solar installation costs about $14,333, or $20,496 before the federal solar tax credit of 30% is applied.

These figures are only estimates, and the cost of going solar for you may look different based on factors unique to your home and what company you want to go with. Even with the significant upfront cost, the average Byron homeowner can save around $19,000 on their energy bills over 20 years, which is one of the benefits of solar.

You can click the button below to get connected with a vetted solar company in Byron that can help you get a more accurate cost estimate for your home.

Solar savings over time in Byron

Year Return on Investment
1 years $-12,874
3 years $-9,954
5 years $-7,035
7 years $-4,115
9 years $-1,196
11 years $1,723
13 years $4,643
15 years $7,562
17 years $10,482
19 years $13,401
21 years $16,321
23 years $19,240
25 years $22,160

Top Solar Installers in Byron

DIY solar panel installation is a choice some homeowners opt for, but it's an undertaking that can be a pain. Taking advantage of a solar company can make swapping over to solar power much easier. A solar company can also help save you money over the lifespan of your system by providing warranties, repairs and system component replacements.

There are various licensed solar professionals that can take care of your solar installation project. Here are our suggestions:

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Technology

Tesla Energy

★★★★★
4.5

  • 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

★★★★★
4.0

  • 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 Byron

Factors that Affect Solar Panel Costs in Byron

Cost is usually one of the most important factors for homeowners considering investing in solar. There are a few major factors that determine your overall cost in Byron: 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

Solar system size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of installing solar panels. Because of that, it's important to accurately gauge the size of the solar energy system needed for your home by figuring out your energy needs. Some solar brands — like Maxeon from SunPower — are more costly upfront but also tend to offer better efficiency. In a city like Byron, where sunlight isn't as abundant, efficiency can quickly pay off. In addition, if you have a small roof or limited space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.

Solar Financing Terms

If paying for solar panels in cash is difficult, solar loans are an affordable choice because they reduce your upfront costs and allow you to pay for your system over five to seven years on average. When estimating your overall cost, you should also calculate the interest you'll pay if you opt for a solar loan. Also, paying more on your down payment can reduce the total interest paid over time.

Solar Panel Installation Company

A final consideration when trying to evaluate the cost of solar for your home or business in Byron is the company you choose to install your PV system. As with choosing a company to renovate your kitchen, for instance, there's no shortage of solar installers that provide a range of services at different costs. Larger national companies generally 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 add-on 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 $2.95 $12,405 $17,959 10.2 years
8 kW $2.90 $16,222 $24,264 10.0 years
10 kW $2.84 $19,880 $30,728 9.8 years
12 kW $2.78 $23,379 $37,350 9.6 years
14 kW $2.73 $26,719 $44,132 9.4 years
16 kW $2.67 $29,900 $51,073 9.2 years
18 kW $2.61 $32,921 $58,172 9.0 years
20 kW $2.56 $35,784 $65,431 8.8 years

How to Save on Solar Panels

There are a lot of companies available in Byron, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be tough, so here are some tips to help you decide:

  • Warranty: An all-inclusive, 25-year warranty can help keep your solar system running for a long time and save you money on repairs and maintenance.
  • Solar Panel Brands: Each solar panel brand and type offers varying levels of quality, longevity and efficiency. They will come at different costs as well. The company you choose plays a role in which solar panel brands you have access to.
  • Contract: It's important to read your solar installer's contract well to understand what services they will provide, what the warranty covers and what expectations you should have about the installation process.
  • Installation Process: When going solar, it's essential to keep an open line of communication with your solar installer. Confirm that you understand how the installation process works and the project timeline.

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Technology

Tesla Energy

★★★★★
4.5

  • 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

★★★★★
4.0

  • Expansive service area
  • Makes charitable contributions
  • Certified B Corp
  • No leases or PPAs
  • Quality of installation may vary by location

EcoWatch's Byron, MN Solar Cost FAQs

What is the average cost of installing solar panels in Byron?

This is a tough question to answer precisely, because the cost depends on many factors. Broadly speaking, it costs about $14,200 for a 5-kW system and $28,400 for a 10-kW system after the ITC is applied. It will cost more if you want additional solar equipment or more efficient panels, or if you have above-average energy usage. Conversely, you can spend less if you want a smaller solar panel system or less efficient solar panels.

Is it better to lease or buy solar panels in Byron?

Leasing solar panels can be an attractive choice, because it commonly comes with low or $0 upfront payments. The drawback is that you won't be able to save as much. If you lease, you don't own the system, so you can't claim any tax rebates and credits and your home value won't increase. Buying solar panels is a better option if you want to get the most savings.

Can solar panels eliminate my electricity bills?

It is possible to eliminate your electricity bills with solar panels, but for most homeowners in Byron, that will require at least a 10-kW system. Not all homes will have roofs that can accommodate that size system, so you'll want to contact a local solar installer to see how many panels can fit on your roof.

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 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.

Follow us