Solar Panel Cost Guide in Deephaven, MN (2023 Update)
- Deephaven Solar Installation Cost: $14,314
- 25-Year Savings: $19,177
- Payback Period: 10.7 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Deephaven
See how much it might cost to switch to solar power in Deephaven.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Deephaven, the typical cost of a solar system is 2.84 per watt. Because a 7.2-kW system is needed to cover the energy costs of a typical home in Deephaven, the average price of going solar will be about $14,314 after claiming the federal solar tax credit of 30%.
The true cost of your system can go above or below the average in Deephaven based on several factors, such as the model of solar panels you choose and the solar installer you hire. With typical savings of about $18,000 on electricity bills over 20 years, many homeowners in Deephaven find going solar can be quite rewarding.
To see your potential ROI and connect with a local solar expert, click the button below.
Solar savings over time in Deephaven
| Year | Return on Investment |
|---|---|
| 1 years | $-12,974 |
| 3 years | $-10,295 |
| 5 years | $-7,616 |
| 7 years | $-4,936 |
| 9 years | $-2,257 |
| 11 years | $422 |
| 13 years | $3,101 |
| 15 years | $5,781 |
| 17 years | $8,460 |
| 19 years | $11,139 |
| 21 years | $13,818 |
| 23 years | $16,497 |
| 25 years | $19,177 |
Top Solar Installers in Deephaven
Although it's possible to install solar panels by yourself, it requires extra labor and handiness. That's why the majority of homeowners choose a solar panel installer. Some solar companies, especially local ones, can help you make the most of incentives in Deephaven, therefore optimizing your ROI.
There are several licensed solar professionals that can help you install your solar panels. 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
While the average cost of a solar system in Deephaven is $14,314, your final cost may be higher or lower than that. There are many factors that can have a significant impact on the cost of a solar system installation. Below are some of the more important things to take into consideration.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of installing solar panels. Because of that, it's crucial to accurately assess the size of the solar energy system needed for your home by figuring out your energy needs. The brand of solar panels and equipment you choose is another factor that will considerably influence costs. Solar panels that are more efficient, like monocrystalline panels, tend to come at a higher price. Moreover, solar equipment goes beyond just the solar panels themselves. You'll also need to decide on the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when looking for a solar system that falls within your budget.
Solar Financing Terms
Many homeowners find the average cost of solar in Deephaven to be prohibitively expensive, even if the investment pays off over time. Fortunately, almost every solar installer in the area offers financing options. Solar loans greatly decrease upfront costs for most homeowners, but they also result in higher prices over time due to interest. It's wise 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 last major cost factor you should take into consideration is the installer you choose. Given the growing popularity of renewable energy solutions in Deephaven, you'll have lots of options to choose from, but each comes at varying price points for labor and equipment. You may notice national solar installers that have lower prices because of their bigger brand name and access to bulk prices, or you might see small, local installation companies offering deals or promotions to compete with those major players.
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 | $15,496 | 11.1 years |
| 8 kW | $2.90 | $16,222 | $20,980 | 10.9 years |
| 10 kW | $2.84 | $19,880 | $26,622 | 10.7 years |
| 12 kW | $2.78 | $23,379 | $32,424 | 10.5 years |
| 14 kW | $2.73 | $26,719 | $38,384 | 10.3 years |
| 16 kW | $2.67 | $29,900 | $44,504 | 10.0 years |
| 18 kW | $2.61 | $32,921 | $50,783 | 9.8 years |
| 20 kW | $2.56 | $35,784 | $57,220 | 9.6 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because choosing a company can be a tough decision, we have some tips to help you, such as:
- Solar Panel Brands: The model of solar panel you'd like to install plays a part in which company you should choose, since different companies have different panels.
- Reputation: Solar system installers that have great reviews from their customers and that have been in business for many years most likely offer high-quality solar panel installation and expertise.
- Contract: Before signing a contract with a solar installer, make sure you read it through completely so you understand the terms. Also, ask questions if you're unsure about some of the terms, such as what the warranty covers and what services you can expect from them.
- Warranty: Warranties that provide coverage for replacement parts and repairs over a long period of time such as 25 years are the gold standard in the business, and offering that kind of warranty is one sign of a good company.
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 difficult question to answer precisely, because the cost depends on a variety of factors. Broadly speaking, it costs about $14,200 for a 5-kW system and $28,400 for a 10-kW system after the ITC is applied. It will cost more if you want extra solar equipment or higher quality panels, or if you have above-average energy usage. 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?
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'd rather own your solar panels, you can finance them with a solar loan.
Does Deephaven have a net metering program?
Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just offer you credit toward your future electricity bills.
What solar power system size is right for my home?
To figure out how many solar panels you need, you should find out how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can usually 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.