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

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated February 03, 2024

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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 Deephaven

Find out how much it might cost to make the switch to solar in Deephaven.

The average cost of solar panels in Deephaven is 4 per watt.Since a 7.2-kW system is needed to cover the energy usage of a typical home in Deephaven, the average price of going solar will be about $20,316 after claiming the federal solar tax credit of 0.

The prices above are just estimates to give you an idea of how much solar panels could cost. The actual cost of making the switch to solar can vary based on a few factors, such as what size system you need, your energy usage and what solar installer you go with.But, once you've paid the initial cost of installation, the ROI for most homeowners is quite fruitful, with a net average savings of about $18,000 over 20 years on utility bills.

For a free quote from a local solar company that has been pre-vetted by the EcoWatch team, 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

Putting up solar panels by yourself can be a stressful project, which is why hiring a solar installation company is a good option for many homeowners. Plus, warranties and repairs from your solar panel company can protect your investment and lower the cost of maintenance over the lifespan of your panels.

If you're looking for a solar installer in Deephaven, the EcoWatch team has compiled a list of our top suggestions here:

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 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

Best Technology

Tesla Energy

★★★★★
3.2

  • 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

Though the average cost of a solar system in Deephaven is $20,316, your actual cost may be higher or lower than that. There are many factors that can have a major impact on the cost of a residential solar panel installation. Below are some of the more important things to keep in mind.

Solar Equipment

One of the most important factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more energy your household consumes, the larger your system will likely need to be. You can expect to spend around $4,030 per kilowatt in Deephaven.Some solar panel brands — like Maxeon from SunPower — cost more upfront but also tend to offer higher efficiency. In a city like Deephaven, where sunlight isn’t as abundant, efficiency can quickly pay off. Also, if you have a small roof or you don’t have a lot of 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

Solar panels can save you money on utility bills over many years, but they can also be a big investment. That’s why many Deephaven homeowners decide to finance their solar panel systems to make going solar more affordable.However, the interest on solar loans also adds to your total costs, so it’s important to include that in your estimate as well. You can always lower the total you pay in interest and in some cases even your APR by putting more money down.

Solar Panel Installation Company

Lastly, the company you hire to install your solar system can affect how much you pay. Deephaven’s solar companies all have different labor costs and add varying upcharges to equipment. Larger national companies generally have lower costs, but some local companies keep up with them by offering sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or extra services like electric car charger installation, they might be cheaper overall.

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

The solar panel company you opt for will influence not only your total costs, but also the types of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are some important things you should keep in mind, such as:

  • Installation Process: Make sure you’re on the same page with the installer regarding how the installation process will go and what you need to do before your solar system is installed, such as updating your electrical system or roof.
  • Contract: It’s important to look over your solar installer’s contract carefully to understand what services they will provide, what the warranty covers and what you can expect about the installation process.
  • Warranty: Each company may offer different kinds of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
  • Reputation: Your solar installer should have a good reputation as a company and have demonstrated expertise in the field. A couple of ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has satisfied reviews from past customers.

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 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

Best Technology

Tesla Energy

★★★★★
3.2

  • 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

How much does it cost to install solar panels in Deephaven?

This is a difficult question to answer exactly, 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 extra solar equipment or higher quality panels, or if you have higher-than-average energy needs. On the flip side, you can spend less if you want a smaller solar panel system or less efficient solar panels.

Can you get solar panels for free in Deephaven?

You can’t get solar panels for free in Deephaven. However, you may still be able to afford them on a lower budget. You can lease solar panels for a low upfront cost or, if you want to own your solar panels, you can finance them with a solar loan.

How will installing solar panels impact my property value?

Solar panels can increase your home value remarkably as long as you buy or finance your panels and don’t opt for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing solar panels."

How long do solar panels last in Deephaven?

Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can choose 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.

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