Solar Panel Cost Guide in Chanhassen, MN (Jan 2023)

  • Chanhassen Solar Installation Cost: $14,234
  • 25-Year Savings: $19,461
  • Payback Period: 10.6 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated January 20, 2023

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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 Chanhassen

See how much it might cost to make the switch to solar in Chanhassen.

The national average cost of solar panels is $2.66 per watt, but in Chanhassen it's $3 per watt. Using this figure, a typical 7.2 would cost about $14,234 before the 30% federal solar tax credit is applied.

These figures are only estimates, and the cost of going solar for you will look different based on the amount of energy your home requires and what company you choose to go with. Even with the significant upfront cost, the average Chanhassen homeowner can save about $18,000 on their energy bills over 20 years, which is one of the benefits of solar.

Click the button below to get connected to a highly rated solar installer in your area for a custom quote.

Solar savings over time in Chanhassen

Year Return on Investment
1 years $-12,886
3 years $-10,191
5 years $-7,495
7 years $-4,800
9 years $-2,104
11 years $592
13 years $3,287
15 years $5,983
17 years $8,678
19 years $11,374
21 years $14,070
23 years $16,765
25 years $19,461

Top Solar Installers in Chanhassen

Many homeowners opt for a solar installer since installing solar panels yourself can be a lot of work. Plus, if you're unsure what type of solar panels and equipment you want, a solar installer can help you find the right equipment for you after a site survey and consultation.

If you're on the hunt for a solar installer in Chanhassen, we've compiled a list of our top suggestions here:

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 Chanhassen

Factors that Affect Solar Panel Costs in Chanhassen

Although the average cost of a solar system in Chanhassen is $14,234, your actual cost may be above or below the average. There are many factors that can have a significant impact on the cost of a solar system installation. Below are some of the more important things to take into consideration.

Solar Equipment

The cost of solar panel systems varies by thousands of dollars due to a variety of factors. One of the major factors is the system size, which is measured in kilowatts (kW). Solar power systems that have better efficiency or power production use better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $2,840. The type of solar panels and equipment you choose is another factor that will substantially affect costs. Solar panels that are more efficient, like monocrystalline panels, tend to be more expensive. Moreover, solar equipment consists of more than just the solar panels themselves. You'll also need to decide on the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when looking for a solar system that falls within your budget.

Solar Financing Terms

If paying for a solar system out of pocket is difficult, solar loans are a popular route because they decrease your upfront costs and let you pay for your system over five to seven years on average. When considering your overall cost, you should also calculate the interest you'll pay if you go with a solar loan. Also, paying more on your down payment can lower the total interest paid over time.

Solar Panel Installation Company

The solar company you opt for to handle your switch to sustainable energy can play a role in your total costs. There are about 3 solar installation companies in Chanhassen, and each can charge different amounts for labor and equipment. You may see national solar installers that have lower prices due to their bigger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or specials 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 $15,818 11.0 years
8 kW $2.90 $16,222 $21,408 10.8 years
10 kW $2.84 $19,880 $27,158 10.6 years
12 kW $2.78 $23,379 $33,066 10.4 years
14 kW $2.73 $26,719 $39,134 10.1 years
16 kW $2.67 $29,900 $45,361 9.9 years
18 kW $2.61 $32,921 $51,747 9.7 years
20 kW $2.56 $35,784 $58,292 9.5 years

How to Save on Solar Panels

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

  • Reputation: Make sure your solar company has a good reputation by confirming it has certifications and licenses, checking its work history and reading reviews by past customers and solar experts like the EcoWatch team.
  • Warranty: An all-inclusive, long-term warranty can help keep your solar panel system running smoothly and save you money on repairs and maintenance.
  • Solar Panel Brands: The type of solar panel you want plays a part in which installer you should opt for, since different companies have different panels.
  • Contract: Before you sign a contract with a solar company, be sure to read it through fully 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 if there are any guarantees about energy production.

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 Chanhassen, MN Solar Cost FAQs

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

The average cost of solar panels in Chanhassen 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 certain factors such as the type of solar panels you want, what size system you need and how much energy you consume.

Can you get solar panels for free in Chanhassen?

Solar panels aren't free in Chanhassen, 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 can further reduce the cost.

Can you sell solar power back to the grid in Chanhassen?

The majority of states have net metering programs of some kind. Through these, you can receive compensation for the extra power your system generates or or receive credits to put toward future utility bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.

What solar power system size is right for my home?

The exact number of solar panels you need depends on your household energy usage and the average daily 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 install 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.

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