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

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated January 20, 2023

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We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Credit River

We break down average solar pricing in Credit River.

The average cost of solar panels in Credit River is $3 per watt. Since a 7.2-kW system is needed to cover the energy needs of a typical home in Credit River, the average price of going solar will be about $14,234 before claiming the federal solar tax credit of 30%.

Remember that the numbers above are only averages. The price you'll end up paying for solar will differ based on your household energy use, the type of solar system you want to get, your solar contractor and more. For many homeowners, the upfront cost of solar is worth paying. On average homeowners in Credit River see about $18,000 in savings on electricity bills over 20 years.

Click the button below to get connected to a vetted solar panel company in your area for a personalized estimate.

Solar savings over time in Credit River

Year Return on Investment
1 years $-12,877
3 years $-10,162
5 years $-7,447
7 years $-4,733
9 years $-2,018
11 years $696
13 years $3,411
15 years $6,126
17 years $8,840
19 years $11,555
21 years $14,270
23 years $16,984
25 years $19,699

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:

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

Tesla Energy

★★★★★
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 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.

Solar Equipment

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.

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

Tesla Energy

★★★★★
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 Credit River, MN Solar Cost FAQs

What is the average cost of installing solar panels in Credit River?

The average cost of solar panels in Credit River is about $14,200 for a 5-kW system and $28,400 for a 10-kW system before the ITC, but the actual cost will depend on certain factors like the type of solar panels you want, what size system you need and how much energy you use.

What other factors should I consider apart from cost when buying solar panels?

The initial cost is a very important factor to consider, but whether it's the most important for you depends on why you decided to go solar. In areas where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to think about are the quality and durability of your solar panels.

Is it worth going solar in Credit River?

Whether or not solar panels are worth it depends on some different factors like how much you pay for electricity and the amount of direct sunlight your roof gets.

What solar power system size is right for my home?

The exact number of solar panels you need depends on your household energy usage and the average daily sunlight your roof gets. You can take a look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to get between 20 and 35 panels to account for their typical energy usage.

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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