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

  • Chisholm Solar Installation Cost: $21,487
  • 25-Year Savings: $23,478
  • Payback Period: 13.9 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 Chisholm

Find out what the average cost of solar panels are in Chisholm.

The national average cost of solar panels is $2.66 per watt, but in Chisholm it’s 4 per watt.The average solar panel system size in Chisholm is around 7.6 kilowatts, meaning a cost of about $21,487 for a solar installation, or $30,726 before the 0 federal solar tax credit is applied.

Remember that the numbers above are only averages. The price you’ll pay for solar will differ based on your household energy use, the type of solar panels you choose, your solar contractor and more.But, once you've paid the initial cost of installation, the return on investment for most homeowners is typically rewarding, with a net average savings of about $19,000 over 20 years on power bills.

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

Solar savings over time in Chisholm

Year Return on Investment
1 years $-20,095
3 years $-17,310
5 years $-14,525
7 years $-11,740
9 years $-8,956
11 years $-6,171
13 years $-3,386
15 years $-601
17 years $2,184
19 years $4,969
21 years $7,753
23 years $10,538
25 years $13,323

Top Solar Installers in Chisholm

Many homeowners decide to hire a solar panel installer since figuring out how to install solar panels yourself can be hard. Plus, if you’re not certain what type of solar panels and equipment you need, a solar expert can help you find the right equipment for you after a site survey and consultation.

You can work with a local solar installer to get a free estimate on how much solar panels could cost for your home. Here are some near you:

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 Chisholm

Factors that Affect Solar Panel Costs in Chisholm

Cost is usually one of the most important factors for homeowners wanting to invest in solar. There are a few key factors that affect your total cost in Chisholm: solar equipment and system size, financing options and the solar installation company you choose. We’ll go over each of these briefly below.

Solar Equipment

The size of the solar panel system you need to offset your energy usage, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, your total will most likely 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 brand name like Tesla or SunPower, these are often more expensive 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. Plus, if you want additional equipment like an electric vehicle charger or solar batteries, this will also raise the cost.

Solar Financing Terms

Solar panels can save you money on power bills over time, but they can also be a significant investment. That’s why many Chisholm homeowners choose to finance their solar panel systems to make paying for solar more affordable.Although solar loans make going solar more accessible for Chisholm homeowners, they can also raise the total you pay for your system, depending on your interest rate. If you put down a larger down payment, though, you can cut back on how much interest you have to pay.

Solar Panel Installation Company

The solar company you choose to handle your switch to renewable energy can play a part in your total costs. There are about 3 solar installation companies operating throughout Chisholm, and each can charge different amounts for labor and equipment.You may come across national solar installers that have lower prices because of their larger 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 $4.19 $17,603 $12,819 14.5 years
8 kW $4.11 $23,019 $17,544 14.2 years
10 kW $4.03 $28,210 $22,494 13.9 years
12 kW $3.95 $33,175 $27,670 13.6 years
14 kW $3.87 $37,914 $33,071 13.4 years
16 kW $3.79 $42,428 $38,698 13.1 years
18 kW $3.71 $46,716 $44,551 12.8 years
20 kW $3.63 $50,778 $50,629 12.5 years

How to Save on Solar Panels

The solar panel company you go with will influence not only your total costs, but also the types of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are a few important things you should take into account, including:

  • Reputation: Make sure your solar company has a good reputation by verifying it has certifications and licenses, checking its work history and reading reviews by previous customers and solar experts like EcoWatch.
  • Contract: It’s important to read your solar installer’s contract fully to understand what services they will provide, what the warranty covers and what expectations you should have about your solar system’s energy production.
  • Warranty: A comprehensive, 25-year warranty can help keep your solar panels running for a long time and save you money on part replacement and repairs.
  • Installation Process: Get detailed information from your solar company about the installation process and what to expect, including when the site survey will be done and how long it will take.

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 Chisholm, MN Solar Cost FAQs

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

This is a tough question to answer precisely, because the cost depends on a few different factors. Generally speaking, it costs about $20,150 for a 5-kW system and $40,300 for a 10-kW system after the ITC is applied. It will cost more if you want extra solar equipment or more efficient panels, or if you have above-average energy consumption. On the other hand, you can spend less if you choose a smaller solar panel system or cheaper solar panels.

Are solar panels free in Chisholm?

Solar panels aren’t free in Chisholm, 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.

Do solar panels increase your property value?

Installing solar panels on your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Chisholm is currently $101,211, which means you could be looking at a value of about $4,150 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Chisholm is a fruitful 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 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 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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