Solar Panel Cost Guide in Collegeville, MN (2023 Update)
- Collegeville Solar Installation Cost: $14,129
- 25-Year Savings: $18,100
- Payback Period: 11.0 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Collegeville
We break down average solar pricing in Collegeville.
In Collegeville, solar panels cost about 2.84 per watt on average. To account for the typical energy usage of the average home in Collegeville, most homeowners require a 7.1-kilowatt system. Using the per-watt figure above, a solar installation costs around $14,135, or $20,213 before the federal solar tax credit of 30% is applied.
The true cost of your system can be higher or lower than the average in Collegeville depending on several factors, such as the brand of solar panels you choose and the solar installer you hire. Even with the significant initial cost, the average Collegeville homeowner can save around $17,000 on their power bills over 20 years, which is one of the positives of solar.
Click the button below to get connected to a reputable solar company in your area for a customized quote.
Solar savings over time in Collegeville
| Year | Return on Investment |
|---|---|
| 1 years | $-14,022 |
| 3 years | $-13,807 |
| 5 years | $-13,592 |
| 7 years | $-13,377 |
| 9 years | $-13,162 |
| 11 years | $-12,947 |
| 13 years | $-12,733 |
| 15 years | $-12,518 |
| 17 years | $-12,303 |
| 19 years | $-12,088 |
| 21 years | $-11,873 |
| 23 years | $-11,658 |
| 25 years | $-11,443 |
Top Solar Installers in Collegeville
DIY solar panel installation is a choice some homeowners opt for, but it's an undertaking that can take a lot of hard work. Taking advantage of a solar company can make your switch to solar power much easier. Some solar installers, especially local ones, can help you make the most of incentives in Collegeville, thereby optimizing your ROI.
There are various licensed solar professionals that can install solar panels for you. Here are our suggestions:
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
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
See all of the solar companies in Collegeville
Factors that Affect Solar Panel Costs in Collegeville
Even though the average cost of a solar system in Collegeville is $14,135, your actual 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 solar system installation. Below are some of the more important things to consider.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household uses, the larger your system will likely need to be. You can expect to pay about $2,840 per kilowatt in Collegeville. The model of solar panels and equipment you want is another factor that will significantly influence costs. Solar panels that are more efficient, like monocrystalline panels, tend to be more costly. Furthermore, 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 researching a solar system that falls within your budget.
Solar Financing Terms
Most solar companies in Collegeville have solar loans, which reduce your upfront costs of installing solar panels. When trying to figure out 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 installation company you select will impact your total cost to go solar. Different companies will bill different amounts for the equipment and labor. Companies that only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come with an above-average cost. It's best to do some research and go with the 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 | $2.95 | $12,405 | $14,803 | 11.4 years |
| 8 kW | $2.90 | $16,222 | $20,055 | 11.2 years |
| 10 kW | $2.84 | $19,880 | $25,467 | 11.0 years |
| 12 kW | $2.78 | $23,379 | $31,037 | 10.7 years |
| 14 kW | $2.73 | $26,719 | $36,766 | 10.5 years |
| 16 kW | $2.67 | $29,900 | $42,655 | 10.3 years |
| 18 kW | $2.61 | $32,921 | $48,702 | 10.1 years |
| 20 kW | $2.56 | $35,784 | $54,909 | 9.9 years |
How to Save on Solar Panels
The solar panel company you choose will impact not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are several important things you should consider, including:
- Reputation: Make sure your solar system installer has a good reputation by verifying it has certifications and licenses, checking its number of years in business and reading reviews by past customers and solar experts like EcoWatch.
- Solar Panel Brands: The brand of solar panel you want plays a role in which company you should opt for, since different companies provide different panels.
- Contract: When looking through your solar installer's contract, ask questions about any terms you're not sure of and be sure you understand what happens in scenarios such as a system part breaking or if the company goes out of business.
- Warranty: An all-inclusive, 25-year warranty can help keep your solar panels running smoothly and save you money on repairs and maintenance.
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
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
EcoWatch's Collegeville, MN Solar Cost FAQs
How much does it cost to install solar panels in Collegeville?
The average cost of solar panels in Collegeville 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 stuff like the kind of solar panels you want, what size system you need and how much energy you use.
Should I lease or buy solar panels in Collegeville?
Leasing solar panels can be an attractive choice, because it usually comes with low or $0 upfront payments. The downside 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 maximize your savings.
Can solar panels completely eradicate my power bills?
Solar panels can potentially eliminate your electricity bills depending on your location and how much sunlight your home gets. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $906.93 per year.
How long do solar panels last in Collegeville?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher amount 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.