Solar Panel Cost Guide in Credit River, MN (2024 Update)
- Credit River Solar Installation Cost: $20,196
- 25-Year Savings: $19,701
- Payback Period: 14.9 Years
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Average Cost of Solar Panels in Credit River
Find out what the average cost of solar panels are in Credit River.
The national average cost of solar panels is $2.66 per watt, but in Credit River it’s 4 per watt.Because a 7.2-kW system is needed to cover the energy consumption of a typical home in Credit River, the average price of going solar will be about $20,196 after claiming the federal solar tax credit of 0.
These figures are just estimates, and how much solar costs for you may vary based on your specific situation and what company you want to go with.With average savings of about $18,000 on power bills over 20 years, many homeowners in Credit River find investing in solar can pay off big.
You can click the button below to get connected with a vetted solar company in Credit River for a quote for your home.
Solar savings over time in Credit River
| Year | Return on Investment |
|---|---|
| 1 years | $-18,916 |
| 3 years | $-16,357 |
| 5 years | $-13,799 |
| 7 years | $-11,240 |
| 9 years | $-8,681 |
| 11 years | $-6,122 |
| 13 years | $-3,563 |
| 15 years | $-1,004 |
| 17 years | $1,555 |
| 19 years | $4,114 |
| 21 years | $6,673 |
| 23 years | $9,231 |
| 25 years | $11,790 |
Top Solar Installers in Credit River
Although it's possible to install solar panels yourself, it involves extra energy and expertise. For that reason, almost all homeowners choose a solar panel installer. Plus, if you aren’t sure what type of solar panels and equipment you need, a solar company can help you figure that out after a site survey and consultation.
If you’d like to switch to solar energy but still aren’t sure which solar company to go with, here are our suggestions for providers nearby:
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 Credit River
Factors that Affect Solar Panel Costs in Credit River
The cost of installing a solar system in Credit River can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The most significant one is the size of the system you need, and other factors include the equipment you choose, financing options and the solar installer you choose.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of going solar. That’s why it’s crucial to accurately gauge the size of the solar energy system needed for your home by figuring out your average energy use.There are a lot of different solar panel brands and the one you choose also changes the cost. In many cases, the brands that have better efficiency tend to also cost more. Plus, the type of equipment you’re looking to get can affect your total cost. If you just need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Solar panels can save you money on energy bills over many years, but they can also be a significant investment. That’s why many Credit River homeowners opt to finance their solar panel systems to make paying for solar more affordable.It’s a good idea to add the interest you’ll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and how long it’ll take to pay back the loan.
Solar Panel Installation Company
The solar company you hire to handle your switch to renewable energy can have an effect on your total costs. There are about 3 solar panel companies operating in Credit River, and each can charge different amounts for labor and equipment.The company’s size can sometimes play the most significant role in the installation costs. Larger national companies, like SunPro and Sunrun, often have lower prices because they have more resources and bulk pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or discount can bring their pricing down to compete with bigger 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 | $10,836 | 15.5 years |
| 8 kW | $4.11 | $23,019 | $14,899 | 15.2 years |
| 10 kW | $4.03 | $28,210 | $19,188 | 14.9 years |
| 12 kW | $3.95 | $33,175 | $23,703 | 14.6 years |
| 14 kW | $3.87 | $37,914 | $28,443 | 14.3 years |
| 16 kW | $3.79 | $42,428 | $33,409 | 14.0 years |
| 18 kW | $3.71 | $46,716 | $38,601 | 13.7 years |
| 20 kW | $3.63 | $50,778 | $44,018 | 13.4 years |
How to Save on Solar Panels
Since the type of solar panels and the installation company you choose has an impact on your costs and your system’s efficiency, production, and durability, it’s important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for clean energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a good reputation and is qualified to get the job done well. Another way you can verify your installer’s reputation is by reading reviews.
- Warranty: Warranties that provide coverage for replacement parts and repairs over a couple decades are the gold standard in the business, and offering that kind of warranty is one mark of a good company.
- Installation Process: An important thing to understand when going solar is the installation process itself. Be sure to align on any details you need to know with your solar company, such as what permits you should secure and what the project timeline is.
- Contract: It’s important to read through your solar installer’s contract thoroughly to understand what services they will provide, what the warranty covers and what expectations you should have about your solar system’s energy production.
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 Credit River, MN Solar Cost FAQs
How much does it cost to install solar panels in Credit River?
The average cost of solar panels in Credit River is about $20,150 for a 5-kW system and $40,300 for a 10-kW system before the ITC, but the actual cost will depend on stuff like the type of solar panels you want, what size system you need and how much energy you consume.
What other factors should I consider apart from cost when buying solar panels?
Cost is certainly one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
Can you sell solar power back to the grid in Credit River?
Most states have net metering programs of some kind. Through these, you can get paid for the extra power your system produces or or receive credits to put toward future electricity bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.
What solar power system size is right for my home?
To figure out how many solar panels you need, you need to know how much energy your home needs 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.