Solar Panel Cost Guide in Credit River, MN (Jan 2023)
- Credit River Solar Installation Cost: $14,234
- 25-Year Savings: $19,699
- Payback Period: 10.5 Years
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Top Solar Installers in Credit River
Although it's possible to install solar panels by yourself, it takes extra time and expertise. That's why almost all homeowners choose a solar panel installer. The expertise that solar installers offer can be useful as well, particularly if you aren't sure what kind of solar equipment would be right for your home.
There are various licensed solar professionals that can help you install your solar system. Here are our suggestions:
See all of the solar companies in Credit River
Factors that Affect Solar Panel Costs in Credit River
For many Credit River homeowners, the decision to install solar panels rests on cost. However, the range of solar installation costs can be quite wide in Credit River, with typical prices between $20,000 to $40,000. There are numerous factors that considerably influence the price you'll pay, which we'll go over below.
The size of the solar panel system you need to offset your energy usage, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, your total will most likely increase by nearly $2,840. The type of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you get the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. On the other hand, more efficient panels could save you more over time on your power bills. In addition, add-on products, like solar batteries, can bump up your total well above the Credit River average.
Solar Financing Terms
Most solar companies in Credit River offer solar loans, which reduce your upfront costs of installing a solar system. It's a good idea to factor 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 the amount of time it'll take to pay back the loan.
Solar Panel Installation Company
Lastly, the company you hire to install your solar panel system can affect the cost. Credit River's solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Credit River have more knowledge about local solar incentives and can help you make good use of additional rebates or tax exemptions. Though, they may charge more for that service. 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||$16,034||10.9 years|
|8 kW||$2.90||$16,222||$21,696||10.7 years|
|10 kW||$2.84||$19,880||$27,518||10.5 years|
|12 kW||$2.78||$23,379||$33,499||10.3 years|
|14 kW||$2.73||$26,719||$39,639||10.1 years|
|16 kW||$2.67||$29,900||$45,938||9.9 years|
|18 kW||$2.61||$32,921||$52,396||9.6 years|
|20 kW||$2.56||$35,784||$59,012||9.4 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 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:
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for sustainable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a good reputation and is qualified to install your solar system. Another way you can look into your installer's reputation is by reading reviews.
- Solar Panel Brands: Each solar panel brand and model offers varying levels of quality, longevity and energy efficiency. They will come at different price points as well. The company you choose has an impact on which solar panel brands you have access to.
- Contract: Even though reading through a contract can take a lot of time, it's important to do it thoroughly so you can be sure you understand what services your solar company will provide and the terms of the warranty.
- Warranty: A comprehensive, 25-year warranty can help keep your solar panels running smoothly and save you money on part replacement and repairs.
EcoWatch's Credit River, MN Solar Cost FAQs
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.