Solar Panel Cost Guide in Coon Rapids, MN (2023 Update)
- Coon Rapids Solar Installation Cost: $14,274
- 25-Year Savings: $20,045
- Payback Period: 10.4 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Coon Rapids
Find out what the average cost of a solar system is in Coon Rapids.
The average cost of solar panels in Coon Rapids is 2.84 per watt. To account for the typical energy usage of the average home in Coon Rapids, most homeowners require a 7.2-kilowatt system. Using the figure above, a solar installation costs about $14,274, or $20,412 before the federal solar tax credit of 30% is applied.
Bear in mind that the figures above are only estimates based on the average energy use of Coon Rapids homeowners. The cost of a solar system for your home may look different depending on factors unique to your situation, like your household energy use and solar contractor. For most homeowners, the upfront cost of solar power is worth paying. On average Coon Rapids homeowners see about $18,000 in savings on electricity bills over 20 years.
You can click the button below to get connected with a top solar installer in Coon Rapids that can help you get a more accurate cost estimate for your home.
Solar savings over time in Coon Rapids
| Year | Return on Investment |
|---|---|
| 1 years | $-12,901 |
| 3 years | $-10,156 |
| 5 years | $-7,410 |
| 7 years | $-4,665 |
| 9 years | $-1,919 |
| 11 years | $827 |
| 13 years | $3,572 |
| 15 years | $6,318 |
| 17 years | $9,063 |
| 19 years | $11,809 |
| 21 years | $14,554 |
| 23 years | $17,300 |
| 25 years | $20,045 |
Top Solar Installers in Coon Rapids
When going solar, many homeowners choose to go with a solar installer since handling can be a difficult project. Plus, if you're not certain what kind of solar panels and equipment you may need, a solar installer can help you find the right equipment for you after a site survey and consultation.
There are several licensed solar professionals that can take care of your solar installation project. 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 Coon Rapids
Factors that Affect Solar Panel Costs in Coon Rapids
There are many factors that can affect your solar panel installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar system.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a few different factors. One of the main factors is the system size, which is measured in kilowatts (kW). Solar power systems with higher efficiency or power generation use better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $2,840. Some solar panel brands — like Maxeon from SunPower — are more costly upfront but also tend to offer higher efficiency. In a city like Coon Rapids, where sunlight isn't as abundant, efficiency can quickly pay off. Plus, if you have a small roof or limited space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Coon Rapids to be prohibitively costly, even if the investment pays off over time. Fortunately, nearly every solar company in the area offers financing options. Solar loans remarkably decrease upfront costs in most cases, but they also lead to higher prices over time due to interest. However, the interest on solar loans also adds to your overall costs, so it's important to take that into consideration as well. You can always bring down the total you pay in interest and possibly even your APR by making a larger down payment.
Solar Panel Installation Company
The solar panel installation company you choose will play a role in your total cost to go solar. Different companies will bill different amounts for the equipment and labor. Additionally, some companies in Coon Rapids are more knowledgeable about local solar incentives and can help you take advantage of additional rebates or tax exemptions. Though, they may charge more for walking you through the whole process. 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 | $16,278 | 10.8 years |
| 8 kW | $2.90 | $16,222 | $22,023 | 10.6 years |
| 10 kW | $2.84 | $19,880 | $27,926 | 10.4 years |
| 12 kW | $2.78 | $23,379 | $33,988 | 10.2 years |
| 14 kW | $2.73 | $26,719 | $40,210 | 10.0 years |
| 16 kW | $2.67 | $29,900 | $46,590 | 9.8 years |
| 18 kW | $2.61 | $32,921 | $53,130 | 9.6 years |
| 20 kW | $2.56 | $35,784 | $59,828 | 9.4 years |
How to Save on Solar Panels
There are a lot of companies available in Coon Rapids, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be tough, so here are some tips to help you decide:
- Contract: Before signing a contract with a solar company, make sure to look it over completely so you understand the terms. Also, ask questions if you're unsure about some of the terms, such as what to do if a component breaks or malfunctions and if there are any guarantees about energy production.
- Solar Panel Brands: The brand of solar panel you want to get plays a part in which installer you should choose, since different companies have different panels.
- Reputation: Your solar installer should have a sound reputation as a company and have proven expertise in the field. A couple of ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has satisfied reviews from previous customers.
- Warranty: A comprehensive, long-term warranty can help keep your solar panel system running for a long time 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 Coon Rapids, MN Solar Cost FAQs
How much does it cost to install solar panels in Coon Rapids?
The average cost of solar panels in Coon Rapids 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 like the kind of solar panels you want, what size system you need and how much energy you use.
What other factors should I consider aside from cost when buying solar panels?
The initial cost is a key factor to consider, but whether it's the most important for you depends on your goals for going solar. In places where rooftop space is limited, efficiency can trump the cost. Other factors that are important to think about are the quality and durability of your solar panels.
Can you sell solar power back to the grid in Coon Rapids?
The majority of states have net metering programs of some kind. Through these, you can either get paid 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.
How often do you have to replace solar panels?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is how much energy they produce will have decreased significantly after that point. You can opt to replace them after having them for that long or you can keep using them at a lower efficiency.
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.