Solar Panel Cost Guide in Coon Rapids, MN (2024 Update)
- Coon Rapids Solar Installation Cost: $20,251
- 25-Year Savings: $20,048
- Payback Period: 14.8 Years
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Average Cost of Solar Panels in Coon Rapids
Find out how much it might cost to make the switch to solar in Coon Rapids.
Although the national average of solar panels is $2.66 per watt, solar panels in Coon Rapids typically cost around 4.To account for the typical energy usage of the average home in Coon Rapids, most homeowners require a 7.2-kilowatt system. Using the per-watt figure above, a solar installation costs around $20,251, or $28,959 before the federal solar tax credit of 0 is applied.
These figures are just estimates, and your own solar costs will look different based on the amount of energy your home requires and what company you want to go with.For most homeowners, the upfront investment in solar is worth paying. On average you could be looking at about $18,000 in savings on electricity bills over 20 years.
To see your potential savings and connect with a local solar expert, click the button below.
Solar savings over time in Coon Rapids
| Year | Return on Investment |
|---|---|
| 1 years | $-18,977 |
| 3 years | $-16,430 |
| 5 years | $-13,882 |
| 7 years | $-11,335 |
| 9 years | $-8,787 |
| 11 years | $-6,239 |
| 13 years | $-3,692 |
| 15 years | $-1,144 |
| 17 years | $1,404 |
| 19 years | $3,951 |
| 21 years | $6,499 |
| 23 years | $9,046 |
| 25 years | $11,594 |
Top Solar Installers in Coon Rapids
DIY solar panel installation is a way to cut costs, but it's an undertaking that can take a lot of hard work. Hiring a solar panel installer can make swapping over to solar power much easier. Solar warranties and repairs are usually included in the cost of installation when you hire a solar company as well, which can save you more money over time.
If you’d like to switch to solar energy but still aren’t certain which solar installer to go with, here are our recommendations for providers near you:
See all of the solar companies in Coon Rapids
Factors that Affect Solar Panel Costs in Coon Rapids
For many Coon Rapids homeowners, the decision to install a solar energy system rests on cost. However, the range of solar installation costs can be quite wide in Coon Rapids, with typical prices between $20,000 to $40,000. There are numerous factors that significantly influence the price you’ll pay, which we'll go over below.
Solar Equipment
One of the most important factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more power your household consumes, the larger your system will likely need to be. You can expect to spend about $4,030 per kilowatt in Coon Rapids.There are many different solar panel brands and the one you pick also changes the cost. In general, the brands that are more efficient tend to also cost more. Plus, the type of equipment you choose can affect your total cost. If you only need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Most solar installers in Coon Rapids offer solar loans, which reduce the initial cost of installing solar.It’s wise to include the interest you’ll pay in your final cost estimate. If you can afford to pay a higher down payment, you can reduce your total costs and the amount of time it’ll take to pay off the loan.
Solar Panel Installation Company
The solar company you go with to handle your switch to green energy can have an effect on your total costs. There are about 3 solar panel companies operating in Coon Rapids, and each can charge different amounts for labor and equipment.You may come across 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 larger companies.
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 | $11,081 | 15.3 years |
| 8 kW | $4.11 | $23,019 | $15,225 | 15.0 years |
| 10 kW | $4.03 | $28,210 | $19,596 | 14.8 years |
| 12 kW | $3.95 | $33,175 | $24,192 | 14.5 years |
| 14 kW | $3.87 | $37,914 | $29,014 | 14.2 years |
| 16 kW | $3.79 | $42,428 | $34,062 | 13.9 years |
| 18 kW | $3.71 | $46,716 | $39,335 | 13.6 years |
| 20 kW | $3.63 | $50,778 | $44,834 | 13.3 years |
How to Save on Solar Panels
Since the brand of solar panels and the installation company you choose considerably impacts your costs and your system’s durability and efficiency, it’s important to pick the right ones for you. Here are some things to keep in mind to help with your decision:
- Contract: It’s important to look over your solar installer’s contract closely to understand what services they will provide, what the warranty covers and what expectations you should have about your solar system’s energy production.
- Solar Panel Brands: Not all solar installers have the same brands of solar panels, so the brand and type of panel you want can play a considerable role in the company you go with.
- Installation Process: Get detailed information from your solar company about the installation process and what to expect, such as when the site survey will be done and how long it will take.
- Reputation: Your solar installer should have a solid reputation as a company and have demonstrated 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 positive reviews from previous customers.
EcoWatch's Coon Rapids, MN Solar Cost FAQs
What is the average cost of installing solar panels in Coon Rapids?
The average cost of solar panels in Coon Rapids is about $20,150 for a 5-kW system and $40,300 for a 10-kW system before the ITC, but the real cost will depend on things like the model of solar panels you want, what size system you need and how much energy you use.
Is it better to lease or buy solar panels in Coon Rapids?
Leasing solar panels can be an attractive choice, as it commonly 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 way to go if you want to get the most savings.
Do solar panels increase how much your home is worth?
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 Coon Rapids is currently $318,451, which means you could be looking at a value of about $13,056 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Coon Rapids is a worthwhile investment.
What solar power system size is right for my home?
To figure out what solar panel system size you need, you need to know how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can typically produce about 250 to 400 watt-hours per hour, the average home 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.