Solar Panel Cost Guide in Carver, MN (2024 Update)

  • Carver Solar Installation Cost: $20,100
  • 25-Year Savings: $18,757
  • Payback Period: 15.3 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated February 03, 2024

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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 Carver

We break down average solar pricing in Carver.

Currently, the national average cost of solar panels is $2.66 per watt. However, in Carver, the typical cost of a solar system is 4 per watt.The average solar panel system size in Carver is around 7.1 kilowatts, meaning a cost of about $20,100 for a solar installation, or $28,743 before the 0 federal solar tax credit is applied.

The prices above are just estimates to give you an idea of how much a solar energy system could cost. The exact cost of going solar can vary depending on a few factors, such as what size system you need, your energy consumption and what installation company you go with.For many homeowners, the upfront investment in solar panels is worth paying. On average you could be looking at about $18,000 in savings on electricity bills over 20 years.

To get a free estimate from a top solar company in Carver, you can click the button below.

Solar savings over time in Carver

Year Return on Investment
1 years $-18,821
3 years $-16,262
5 years $-13,703
7 years $-11,144
9 years $-8,585
11 years $-6,026
13 years $-3,467
15 years $-908
17 years $1,650
19 years $4,209
21 years $6,768
23 years $9,327
25 years $11,886

Top Solar Installers in Carver

Do-it-yourself solar panel installation is a way to cut costs, but it's an undertaking that can use up a lot of your time and energy. Taking advantage of a solar company can make converting to solar power much easier. In addition, if you’d like to maximize your investment in solar, going with a solar company can help with that too. Different providers can offer repairs, expertise on solar panel installation and sometimes even information on local incentives.

There are a number of licensed solar professionals that can help you install your solar panels. 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 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

Best Technology

Tesla Energy

★★★★★
3.2

  • 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 Carver

Factors that Affect Solar Panel Costs in Carver

While the average cost of a solar system in Carver is $20,100, your final cost may be above or below the average. There are several factors that can have a sizable impact on the cost of a solar system installation. Below are some of the more crucial things to consider.

Solar Equipment

The size of the solar system you need for your household, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by about $4,030. The brand and kind of equipment you want for your solar system can increase or decrease the price quite significantly. If you prefer a trusted 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 a small roof or just want maximum energy production, you will be looking at 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

For some homeowners, paying for solar panels out of pocket can be financially overwhelming. Solar loans are provided by most installers in Carver, which can lower, or in some cases eliminate, your upfront costs to make solar more affordable.You’ll have to consider the long-term cost of financing options, including the amount of 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 more than the original cost. Making a larger down payment or finding a solar loan with a low interest rate could reduce your costs remarkably.

Solar Panel Installation Company

A final factor to consider when trying to estimate the cost of solar for your home or business in Carver is the company you hire to install your PV system. As with choosing a company to renovate your kitchen, for instance, you’ll have no shortage of solar installers that offer a range of services at different costs.Some companies only sell high-quality, high-efficiency and high-price products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come at a higher cost. It’s best to do some research and find a company that provides the products, warranties and services you’re looking for and also fits within your budget.

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 $10,120 15.9 years
8 kW $4.11 $23,019 $13,945 15.6 years
10 kW $4.03 $28,210 $17,995 15.3 years
12 kW $3.95 $33,175 $22,271 15.0 years
14 kW $3.87 $37,914 $26,773 14.7 years
16 kW $3.79 $42,428 $31,500 14.3 years
18 kW $3.71 $46,716 $36,453 14.0 years
20 kW $3.63 $50,778 $41,632 13.7 years

How to Save on Solar Panels

There are many solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you decide on the right company for you, here are some tips to keep in mind:

  • Contract: Before signing a contract with a solar company, make sure you look it over 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 what services you can expect from them.
  • Installation Process: Get detailed information from your solar company about the installation process and what to expect, such as when the site survey will be completed and how long it will take.
  • Warranty: A comprehensive, 25-year warranty can help keep your solar panels running for years to come and save you money on repairs and maintenance.
  • Solar Panel Brands: The type of solar panel you’d like to get plays a role in which company you should go with, since different companies offer different panels.

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 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

Best Technology

Tesla Energy

★★★★★
3.2

  • 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 Carver, MN Solar Cost FAQs

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

The average cost of solar panels in Carver is about $20,150 for a 5-kW system and $40,300 for a 10-kW system before the ITC, but the real cost will depend on stuff like the model of solar panels you want, what size system you need and how much energy you consume.

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

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.

How much can I save on electricity bills after switching to solar?

Solar panels can potentially eliminate your electricity bills depending on your location and the efficiency of your system. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $924.10 per year.

How long do solar panels last in Carver?

On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases 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.

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