Solar Panel Cost Guide in East Grand Forks, MN (2024 Update)
- East Grand Forks Solar Installation Cost: $20,405
- 25-Year Savings: $18,040
- Payback Period: 15.7 Years
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Average Cost of Solar Panels in East Grand Forks
See how much it might cost to install solar panels in East Grand Forks.
In East Grand Forks, solar panels cost about 4 per watt on average.To cover the typical energy usage of the average home in East Grand Forks, most homeowners require a 7.2-kilowatt system. Using the per-watt figure above, a solar installation costs about $20,405, or $29,179 before the federal solar tax credit of 0 is applied.
The prices above are just estimates to give you an idea of how much a solar energy system could cost. The exact cost of going solar can vary quite a bit depending on multiple factors, such as how many panels you need, your energy consumption and what installation company you go with.Many homeowners find adopting solar power is a solid investment. The average homeowner in East Grand Forks can save about $17,000 on their energy bills over 20 years.
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 East Grand Forks
| Year | Return on Investment |
|---|---|
| 1 years | $-19,246 |
| 3 years | $-16,929 |
| 5 years | $-14,613 |
| 7 years | $-12,296 |
| 9 years | $-9,979 |
| 11 years | $-7,662 |
| 13 years | $-5,345 |
| 15 years | $-3,028 |
| 17 years | $-711 |
| 19 years | $1,606 |
| 21 years | $3,923 |
| 23 years | $6,240 |
| 25 years | $8,557 |
Top Solar Installers in East Grand Forks
Although you can install solar panels on your own, it involves extra time and knowledge. That's why most homeowners choose to hire a solar panel installer. The expertise that solar installers offer can be invaluable as well, especially if you aren’t sure what type of solar equipment you need.
If you're looking for a solar installer in East Grand Forks, the EcoWatch team has compiled a list of our top suggestions here:
Best National Provider
SunPower
- 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
- 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 East Grand Forks
Factors that Affect Solar Panel Costs in East Grand Forks
Cost is typically one of the most important factors for homeowners who are considering investing in solar. There are a few major factors that will push your cost above or below the average in East Grand Forks: solar equipment and system size, financing options and the solar installation company you choose. We’ll go over each of these briefly below.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to some different factors. One of the key factors is the system size, which is measured in kilowatts (kW). Solar power systems with higher efficiency or power generation use better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $4,030.Some solar panel brands — like Maxeon from SunPower — are more costly upfront but also tend to offer better efficiency. In a city like East Grand Forks, where sunlight isn’t as abundant, efficiency can quickly pay off. In addition, if you have a small roof or limited space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
If paying for solar panels out of pocket is out of reach, solar loans are an affordable choice because they lower your upfront costs and let you pay for your system over five to seven years on average.However, the interest on solar loans also increases your overall costs, so it’s important to consider that as well. You can always lower the total you pay in interest and sometimes even your APR by putting more money down.
Solar Panel Installation Company
Lastly, the company you opt for to install your solar system can impact how much you pay. East Grand Forks’s solar companies all have different labor costs and add varying upcharges to equipment. The size of the company can sometimes play the most significant role in your total costs. Larger national companies, like SunPro and Sunrun, often have lower prices due to access to greater resources and better pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or promotion can bring their pricing down to compete with bigger names.
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 | $9,289 | 16.4 years |
| 8 kW | $4.11 | $23,019 | $12,837 | 16.0 years |
| 10 kW | $4.03 | $28,210 | $16,610 | 15.7 years |
| 12 kW | $3.95 | $33,175 | $20,609 | 15.4 years |
| 14 kW | $3.87 | $37,914 | $24,834 | 15.1 years |
| 16 kW | $3.79 | $42,428 | $29,284 | 14.8 years |
| 18 kW | $3.71 | $46,716 | $33,960 | 14.5 years |
| 20 kW | $3.63 | $50,778 | $38,862 | 14.2 years |
How to Save on Solar Panels
There are many companies to choose from in East Grand Forks, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be challenging, so here are some tips to help you decide:
- Reputation: Solar system installers that have great reviews from their customers and that have been in business for many years likely offer good-quality solar panel installation and expertise.
- Solar Panel Brands: The brand of solar panel you’d like plays a role in which company you should go with, since different companies have access to different panels.
- Contract: When reading over your solar installer’s contract, ask questions about any terms you’re not sure of and be sure you understand what happens in scenarios such as a system component breaking or if the company goes out of business.
- Warranty: Warranties that cover panel repairs and maintenance over a long period of time such as 25 years are the best you can get in the business, and offering that kind of warranty is one mark of a quality company.
Best National Provider
SunPower
- 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
- 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 East Grand Forks, MN Solar Cost FAQs
What is the average cost of installing solar panels in East Grand Forks?
This is a difficult question to answer precisely, because the cost depends on a few different factors. Broadly 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 cost more if you want additional solar equipment or higher quality panels, or if you have above-average energy usage. On the flip side, you can spend less if you go with a smaller solar panel system or cheaper solar panels.
Is it better to lease or buy solar panels in East Grand Forks?
Leasing solar panels can be an appealing choice, because it often comes with low or $0 upfront payments. The drawback is that you won’t be able to save as much. If you lease, you don’t own the system, so you can’t claim any incentives and your home value won’t increase. Buying solar panels is a better option if you want to get the most savings.
How much can I save on power bills after installing solar panels?
Solar panels can potentially eliminate your electricity bills depending on your location and the efficiency of your system. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $896.40 per year.
How often do you have to replace solar panels?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher level of energy production.
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.