Solar Panel Cost Guide in Coon Rapids, MN (Sep 2022)

  • Coon Rapids Solar Installation Cost: $14,274
  • 25-Year Savings: $20,045
  • Payback Period: 10.4 Years

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EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 9/16/2022

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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 $3 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 $10,563 after 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 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

The Green Panel

★★★★★
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 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 Size

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. 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

Solar Incentives in Coon Rapids

Name Solar Energy Sales Tax Exemption
Incentive Amount 100% exemption
More Info Click here

Name Wind and Solar-Electric (PV) Systems Exemption
More Info Click here

Name Xcel Energy - Solar*Rewards Program
Website Visit here
More Info Click here

Name Wind Energy Sales Tax Exemption
Incentive Amount 100% of sales tax
More Info Click here

Name Xcel Energy (Electric and Gas) - Residential Energy Efficiency Rebate Program
Website Visit here
More Info Click here

Name Brainerd Public Utilities - Residential Energy Efficiency Rebate Program
Website Visit here
More Info Click here

Name Xcel Energy - Renewable Development Fund Grants
Incentive Amount Varies
Website Visit here
More Info Click here

Name Connexus Energy - Residential Energy Efficiency Loan Program
Website Visit here
More Info Click here

Name Connexus Energy - Residential Energy Efficiency Rebate Program
Website Visit here
More Info Click here

Name Great River Energy (28 Member Cooperatives) - Energy Wise Residential Efficiency Rebates
Website Visit here
More Info Click here

Name Wright-Hennepin Cooperative Electric Association - Residential Energy Efficiency Rebate Program
Website Visit here
More Info Click here

Name Home Energy Loan Program
Incentive Amount $20,000
Website Visit here
More Info Click here

Name Fix-Up Loan
Website Visit here
More Info Click here

Name Renewable Energy Production Incentive
Website Visit here
More Info Click here

Name Residential Renewable Energy Tax Credit
Website Visit here
More Info Click here

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 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

The Green Panel

★★★★★
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 Coon Rapids, MN Solar Cost FAQs

What is the average cost of installing solar panels in Coon Rapids?

This is a tough question to answer exactly, because the cost depends on a few different factors. Broadly speaking, it costs about $14,200 for a 5-kW system and $28,400 for a 10-kW system after the ITC is applied. It will be more expensive if you want additional solar equipment or more efficient panels, or if you have higher-than-average energy needs. Conversely, you can spend less if you go with a smaller solar panel system or cheaper solar panels.

Can you get solar panels for free in Coon Rapids?

Solar panels aren't free in Coon Rapids, but there are some options that can make getting them more affordable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can help lower the cost.

Is it worth going solar in Coon Rapids?

Solar panels can be a fruitful investment for a majority of homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your energy bills are already reasonably low, solar panels might not be for you.

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 usually 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.

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