Solar Panel Cost Guide in Deephaven, MN (2024 Update)
- Deephaven Solar Installation Cost: $20,316
- 25-Year Savings: $19,173
- Payback Period: 15.2 Years
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Average Cost of Solar Panels in Deephaven
Find out how much it might cost to make the switch to solar in Deephaven.
In Deephaven, solar panels cost about 4 per watt on average.The average Deephaven homeowner needs a 7.2-kilowatt system, which would cost about $20,316 with the federal tax credit, or $29,052 before the 0 tax credit is applied.
These figures are only estimates, and how much solar costs for you will differ based on your energy needs and what company you go with.With typical savings of about $18,000 on utility bills over 20 years, many homeowners in Deephaven find going solar can be quite rewarding.
To receive a free estimate from a top solar installation company in Deephaven, you can click the button below.
Solar savings over time in Deephaven
| Year | Return on Investment |
|---|---|
| 1 years | $-19,037 |
| 3 years | $-16,478 |
| 5 years | $-13,919 |
| 7 years | $-11,360 |
| 9 years | $-8,801 |
| 11 years | $-6,242 |
| 13 years | $-3,684 |
| 15 years | $-1,125 |
| 17 years | $1,434 |
| 19 years | $3,993 |
| 21 years | $6,552 |
| 23 years | $9,111 |
| 25 years | $11,670 |
Top Solar Installers in Deephaven
Although it's possible to install solar panels by yourself, it involves extra energy and knowledge. For that reason, most people choose to hire a solar panel installer. Another good thing about using a reputable solar installer is that it'll provide warranties and free repairs, which help protect your solar system over time.
There are several licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
Best Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
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 Deephaven
Factors that Affect Solar Panel Costs in Deephaven
For many Deephaven homeowners, the decision to install a solar energy system rests on cost. However, the range of solar installation costs can be quite wide in Deephaven, with typical prices between $20,000 to $40,000. There are various factors that considerably influence the price you’ll pay, which we'll go over below.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of installing solar panels. For that reason, it’s crucial to accurately gauge the size of the solar energy system needed for your home by figuring out your energy needs.The brand and type of equipment you get for your solar system can increase or decrease the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these are often more expensive than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have limited roof space or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to greater savings over time. Also, if you want additional equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
If paying for a solar system out of pocket is too expensive, solar loans are a popular choice because they cut back your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years.However, the interest on solar loans also adds to your total costs, so it’s vital 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 company you pick will influence your total cost to make the switch to solar power. Different companies will charge different amounts for the equipment and labor.Companies that only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally cost more. It’s best to do some research and go with the company that provides the products, warranties and services you’re looking for and also fit into your budget.
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 | $10,298 | 15.8 years |
| 8 kW | $4.11 | $23,019 | $14,182 | 15.5 years |
| 10 kW | $4.03 | $28,210 | $18,292 | 15.2 years |
| 12 kW | $3.95 | $33,175 | $22,628 | 14.9 years |
| 14 kW | $3.87 | $37,914 | $27,189 | 14.6 years |
| 16 kW | $3.79 | $42,428 | $31,976 | 14.3 years |
| 18 kW | $3.71 | $46,716 | $36,988 | 14.0 years |
| 20 kW | $3.63 | $50,778 | $42,226 | 13.6 years |
How to Save on Solar Panels
Since the model of solar panels and the company you choose has an impact on your costs and your system’s efficiency, production, and durability, it’s important to select the right ones for you. Here are some things to keep in mind to help with your decision:
- Installation Process: Make sure you’re aligned with the company regarding how the installation process will go and what needs to be done before your solar panels are installed, such as repairing your electrical system or roof.
- Contract: Before signing a contract with a solar company, make sure you read it through completely so you understand the terms. Also, ask questions if you’re not certain about some of the terms, such as what the warranty covers and what services you can expect from them.
- Warranty: A quality company stands out from other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Reputation: Make sure your solar panel installer has a good reputation by confirming it has certifications and licenses, checking its number of years in business and reading reviews by past customers and solar experts like EcoWatch.
Best Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
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 Deephaven, MN Solar Cost FAQs
What is the average cost of installing solar panels in Deephaven?
This is a tough question to answer precisely, because the cost depends on a few different factors. Generally speaking, it costs about $20,150 for a 5-kW system and $40,300 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 Deephaven?
A solar panel system isn’t free in Deephaven, 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 you can take advantage of.
How will solar panels impact my property value?
Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Deephaven is currently $947,305, so you could be looking at a value of about $38,840 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Deephaven is a fruitful investment.
How long do solar panels last in Deephaven?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is their energy production will have decreased significantly after that point. You can opt to replace them after having them for that long or you can continue to use them at a lower efficiency.
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.