Solar Panel Cost Guide in Carver, MN (2023 Update)
- Carver Solar Installation Cost: $14,174
- 25-Year Savings: $18,748
- Payback Period: 10.8 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated March 14, 2023
Why you can trust EcoWatch
Average Cost of Solar Panels in Carver
See how much it might cost to go solar in Carver.
The national average cost of solar panels is $2.66 per watt, but in Carver it's 2.84 per watt. The average Carver homeowner needs a 7.1-kilowatt system, which would cost about $14,174 with the federal tax credit, or $20,269 before the 30% tax credit is applied.
Bear in mind that the figures above are only estimates based on the average energy use of Carver homeowners. The price of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor. With typical savings of about $18,000 on energy bills over 20 years, many homeowners in Carver find going solar has a decent ROI.
You can click the button below to get connected with a pre-vetted solar company in Carver for a quote for your home.
Solar savings over time in Carver
| Year | Return on Investment |
|---|---|
| 1 years | $-12,858 |
| 3 years | $-10,224 |
| 5 years | $-7,590 |
| 7 years | $-4,956 |
| 9 years | $-2,322 |
| 11 years | $311 |
| 13 years | $2,945 |
| 15 years | $5,579 |
| 17 years | $8,213 |
| 19 years | $10,846 |
| 21 years | $13,480 |
| 23 years | $16,114 |
| 25 years | $18,748 |
Top Solar Installers in Carver
DIY solar panel installation is a way to cut costs, 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. Plus, if you're not certain what kind of solar panels and equipment you may need, a solar expert can help you figure that out after a site survey and consultation.
There are a number of licensed solar professionals that can install solar panels for you. Here are our suggestions:
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 Carver
Factors that Affect Solar Panel Costs in Carver
Although the average cost of a solar system in Carver is $14,174, your final cost may be above or below the average. There are quite a few factors that can have a significant impact on the cost of a residential solar panel installation. Below are some of the more crucial things to keep in mind.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of going solar. For that reason, it's a priority to accurately assess the size of the solar energy system needed for your home by figuring out your typical energy use. The solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you choose the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. However, higher efficiency could save you more over time on your electric bills. In addition, extra products, like solar batteries, can bump up your total well above the Carver average.
Solar Financing Terms
If paying for a solar system out of pocket is difficult, solar loans are an affordable option because they lower your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years. However, the interest on solar loans also adds to your overall costs, so it's important to consider that as well. You can always lower the total you pay in interest and sometimes even your APR by making a larger down payment.
Solar Panel Installation Company
The final key cost factor you should keep in mind is the installer you choose. Given the growing popularity of clean energy solutions in Carver, you'll have lots of options to choose from, but each comes at varying price points for labor and equipment. Additionally, some companies in Carver have more knowledge about local solar incentives and can help you take advantage of additional rebates or tax exemptions. However, they may charge more for that service. 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 | $15,318 | 11.2 years |
| 8 kW | $2.90 | $16,222 | $20,742 | 11.0 years |
| 10 kW | $2.84 | $19,880 | $26,325 | 10.8 years |
| 12 kW | $2.78 | $23,379 | $32,067 | 10.5 years |
| 14 kW | $2.73 | $26,719 | $37,968 | 10.3 years |
| 16 kW | $2.67 | $29,900 | $44,028 | 10.1 years |
| 18 kW | $2.61 | $32,921 | $50,248 | 9.9 years |
| 20 kW | $2.56 | $35,784 | $56,626 | 9.7 years |
How to Save on Solar Panels
There are a lot of companies to choose from in Carver, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be challenging, so here are some tips to help you decide:
- Solar Panel Brands: The model of solar panel you need to install plays a role in which company you should choose, since different companies have different panels.
- Warranty: If you care about the endurance of your solar energy system, making sure your installer offers a 25-year, all-inclusive warranty can help put you at ease.
- Reputation: Companies that have been operating for many years likely have a high 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 support, such as part repairs and replacements.
- Contract: Look through the contract terms closely to make sure you understand the cost breakdown, project completion timeline rebates and warranties.
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 Carver, MN Solar Cost FAQs
How much does it cost to install solar panels in Carver?
This is a difficult question to answer exactly, 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 other solar equipment or more efficient panels, or if you have above-average energy needs. On the flip side, you can spend less if you choose a smaller solar panel system or cheaper solar panels.
Is cost the most important thing to keep in mind when buying solar panels?
Cost is certainly one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
How much can I save on electricity bills after installing solar panels?
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.
What solar power system size is right for my home?
To figure out how many solar panels you need, you need to know how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can generally produce about 250 to 400 watt-hours per hour, the average house will need 20 to 35 panels.
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.