Solar Panel Cost Guide in Cannon Falls, MN (2023 Update)
- Cannon Falls Solar Installation Cost: $14,344
- 25-Year Savings: $20,191
- Payback Period: 10.4 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Cannon Falls
We go over average solar pricing in Cannon Falls.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Cannon Falls, the typical cost of solar panels is 2.84 per watt. The average Cannon Falls homeowner needs a 7.2-kilowatt system, which would cost about $14,353 with the federal tax credit, or $20,525 before the 30% tax credit is applied.
How much you pay can be higher or lower than the average in Cannon Falls depending on a variety of factors, such as the type of solar panels you choose and the solar installer you hire. Even with the high upfront cost, the average Cannon Falls homeowner can save about $18,000 on their electricity bills over 20 years, which is one of the perks of solar.
You can click the button below to get connected with a top solar company in Cannon Falls for a quote for your home.
Solar savings over time in Cannon Falls
| Year | Return on Investment |
|---|---|
| 1 years | $-14,229 |
| 3 years | $-13,998 |
| 5 years | $-13,768 |
| 7 years | $-13,538 |
| 9 years | $-13,308 |
| 11 years | $-13,077 |
| 13 years | $-12,847 |
| 15 years | $-12,617 |
| 17 years | $-12,387 |
| 19 years | $-12,156 |
| 21 years | $-11,926 |
| 23 years | $-11,696 |
| 25 years | $-11,466 |
Top Solar Installers in Cannon Falls
Although you can install solar panels yourself, it takes extra effort and handiness. That's one of the reasons the majority of homeowners choose a solar panel installer. A solar company can also help save you money over the lifespan of your system by providing warranties, repairs and part replacements.
If you're on the hunt for a solar company in Cannon Falls, the EcoWatch team has compiled a list of our top suggestions here:
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 Cannon Falls
Factors that Affect Solar Panel Costs in Cannon Falls
There are many criteria that can play into your solar panel installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar panels.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of installing solar panels. That's why it's a priority to accurately gauge the size of the solar energy system needed for your home by figuring out your typical energy use. Some solar panel brands — like Maxeon from SunPower — cost more upfront but also tend to offer better efficiency. In a city like Cannon Falls, where sunlight isn't as abundant, efficiency can quickly pay off. Plus, if you have a small roof or limited space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Solar panels can save you money on energy bills over time, but they can also be a significant investment. That's why many Cannon Falls homeowners opt to finance their solar panel systems to make paying for solar more affordable. Though solar loans make going solar more accessible for Cannon Falls homeowners, they can also add to the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you put down a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The solar company you go with to handle your switch to renewable energy can play a part in your total costs. There are about 3 solar installation companies operating throughout Cannon Falls, and each can charge varying amounts for labor and equipment. Additionally, some companies in Cannon Falls know more about local solar incentives and can help you learn about additional rebates or tax exemptions. However, they may charge more for walking you through the whole process. Even if they cost more upfront, they could help you save more money in the long run.
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 | $16,313 | 10.8 years |
| 8 kW | $2.90 | $16,222 | $22,069 | 10.6 years |
| 10 kW | $2.84 | $19,880 | $27,984 | 10.4 years |
| 12 kW | $2.78 | $23,379 | $34,058 | 10.2 years |
| 14 kW | $2.73 | $26,719 | $40,291 | 10.0 years |
| 16 kW | $2.67 | $29,900 | $46,683 | 9.8 years |
| 18 kW | $2.61 | $32,921 | $53,234 | 9.6 years |
| 20 kW | $2.56 | $35,784 | $59,944 | 9.3 years |
How to Save on Solar Panels
Since the kind of solar panels and the installer you choose has an impact on your costs and your system's durability and efficiency, it's important to select the right ones for you. Here are some things to keep in mind to help with your decision:
- Installation Process: An important thing to understand when adopting solar energy is the installation process itself. Be sure to align on any details you need to know with your solar company, such as what permits you should acquire and how long the project will take.
- Solar Panel Brands: Each solar panel brand and kind offers varying levels of quality, durability and efficiency. They will come at different prices as well. The company you choose has an impact on which solar panel brands you have access to.
- Reputation: Your solar installer should have a solid reputation as a company and have proven expertise in the field. Two ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has satisfied reviews from previous customers.
- Contract: Before signing a contract with a solar installer, be sure to look it over carefully so you understand the terms. Also, ask questions if you're not certain about some of the terms, such as what the warranty covers and what services you can expect from them.
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 Cannon Falls, MN Solar Cost FAQs
What is the average cost of installing solar panels in Cannon Falls?
The average cost of solar panels in Cannon Falls 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 things like the type of solar panels you want, what size system you need and how much energy you use.
Can you get solar panels for free in Cannon Falls?
A solar panel system isn't free in Cannon Falls, but there are some options that can make getting them more feasible, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that you can take advantage of.
Can solar panels eliminate my power bills?
Solar panels can potentially eliminate your electricity bills depending on your location and how much sunlight your home gets. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $957.28 per year.
How many solar panels do I need to power my home?
The exact number of solar panels you need depends on your household energy needs and the amount of sunlight your roof gets. You can look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to get between 20 and 35 panels to cover their typical energy usage.
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.