Solar Panel Cost Guide in Cannon Falls, MN (Mar 2023)
- Cannon Falls Solar Installation Cost: $14,353
- 25-Year Savings: $20,182
- Payback Period: 10.4 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Cannon Falls
Find out what the average cost of solar panels are in Cannon Falls.
The national average cost of solar panels is $2.66 per watt, but in Cannon Falls it's 2.84 per watt. To cover the typical energy needs of the average home in Cannon Falls, most homeowners require a 7.2-kilowatt system. Using the figure above, a solar installation costs around $14,353, or $20,525 before the federal solar tax credit of 30% is applied.
The prices above are just estimates to give you an idea of the cost of a solar panel system. The actual cost of going solar can vary quite a bit depending on several factors, such as how many panels you need, your energy usage and what solar installer you go with. Many homeowners find adopting solar power is a solid investment. The average homeowner in Cannon Falls can save around $18,000 on their energy 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 Cannon Falls
| Year | Return on Investment |
|---|---|
| 1 years | $-12,972 |
| 3 years | $-10,209 |
| 5 years | $-7,446 |
| 7 years | $-4,684 |
| 9 years | $-1,921 |
| 11 years | $842 |
| 13 years | $3,605 |
| 15 years | $6,368 |
| 17 years | $9,130 |
| 19 years | $11,893 |
| 21 years | $14,656 |
| 23 years | $17,419 |
| 25 years | $20,182 |
Top Solar Installers in Cannon Falls
Trying to install solar panels by yourself can be a dangerous undertaking, which is why getting a solar installer is a good option for many homeowners. A solar installer can also help save you money over time by offering warranties, repairs and system component replacements.
If you'd like to switch to solar energy but still aren't certain which solar company to go with, here are our recommendations for providers near you:
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 Cannon Falls
Factors that Affect Solar Panel Costs in Cannon Falls
Though the average cost of a solar system in Cannon Falls is $14,353, your actual cost may be above or below the average. There are several factors that can have a major impact on the cost of a residential solar panel installation. Below are some of the more crucial things to consider.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a variety of factors. One of the key factors is the system size, which is measured in kilowatts (kW). Solar power systems with better efficiency or power production need better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $2,840. The brand and kind of equipment you want for your solar system can raise or lower the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often have a higher price tag 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 greater savings over time. Also, if you want additional equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Cannon Falls to be too costly, even if the investment pays off over time. Thankfully, nearly every solar company in the area offers financing options. Solar loans drastically decrease upfront costs in most cases, but they also lead to a higher cost over time due to interest. When considering your overall cost, you should also calculate the interest you'll pay if you go with a solar loan. Also, paying a higher 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 Cannon Falls is the company you hire to install your solar system. Similar to choosing a company to renovate your kitchen, for example, there are plenty of solar installers that provide a range of services for different budgets. You may come across national solar installers that have lower prices because of their bigger brand name and access to bulk equipment prices, or you might see small, local installation companies offering deals or promotions to compete with those major players.
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
The company that does your solar system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Since selecting a company can be a tough decision, we have some tips to help you, such as:
- Contract: It's important to look over your solar installer's contract closely to understand what services they will provide, what the warranty covers and what you can expect about the installation process.
- Installation Process: Homeowners should make sure they know how exactly the installation process will go, as well as important factors like the completion timeline.
- 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.
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 Cannon Falls, MN Solar Cost FAQs
What is the average cost of installing solar panels in Cannon Falls?
This is a hard question to answer precisely, because the cost depends on many factors. Generally 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 higher-than-average energy consumption. On the flip side, you can spend less if you want a smaller solar panel system or less efficient solar panels.
Are solar panels 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 viable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that you can take advantage of.
How will having solar panels impact the value of my home?
Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Cannon Falls is currently $254,600, which means you could be looking at a value of about $10,439 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Cannon Falls is a rewarding investment.
How many solar panels should I get to power my home?
The exact number of solar panels you need depends on your household energy usage and how much sunlight your roof gets. You can take a 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 install between 20 and 35 panels to account for 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.