Solar Panel Cost Guide in Eden Prairie, MN (2024 Update)
- Eden Prairie Solar Installation Cost: $20,316
- 25-Year Savings: $20,843
- Payback Period: 14.4 Years
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Average Cost of Solar Panels in Eden Prairie
Find out what the average cost of installing solar panels is in Eden Prairie.
The national average cost of solar panels is $2.66 per watt, but in Eden Prairie it’s 4 per watt.The average solar panel system size in Eden Prairie is around 7.2 kilowatts, meaning a cost of about $20,316 for a solar installation, or $29,052 before the 0 federal solar tax credit is applied.
Remember that the numbers above are only averages. The price you’ll pay for solar will differ based on your household energy use, the type of solar system you want, your solar contractor and more.For most homeowners, the upfront investment in solar panels is worth paying. On average homeowners in Eden Prairie see about $19,000 in savings on utility bills over 20 years.
To receive a free quote from a top solar installation company in Eden Prairie, you can click the button below.
Solar savings over time in Eden Prairie
| 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 Eden Prairie
Installing solar panels on your own can be a challenging project, which is why hiring a solar installation company is a good option for many homeowners. The expertise that solar companies offer can be helpful as well, particularly if you don’t quite know what brand of solar equipment would be right for your home.
If you’d like to start using solar energy but still aren’t certain which solar panel company to go with, here are our recommendations for providers near you:
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 Eden Prairie
Factors that Affect Solar Panel Costs in Eden Prairie
For many Eden Prairie homeowners, the decision to adopt solar energy rests on cost. However, the range of solar installation costs can be quite wide in Eden Prairie, with typical prices between $20,000 to $40,000. There are several factors that considerably influence the price you’ll pay, which we'll go over below.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a variety of factors. One of the notable factors is the system size, which is measured in kilowatts (kW). Solar power systems with better efficiency or power production need better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $4,030.The type of solar panels and equipment you get is another factor that will considerably impact costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to come at a higher price. Further, solar equipment consists of more than just the solar panels themselves. You’ll also need to make decisions about 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 into a solar system that’s in your budget.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be difficult. Solar loans are offered by most installers in Eden Prairie, which can lower, or in some cases completely eliminate, your upfront costs to make solar more affordable.However, the interest on solar loans also adds to your all-in costs, so it’s vital to keep that in mind as well. You can always reduce the total you pay in interest and sometimes even your APR by making a larger down payment.
Solar Panel Installation Company
Lastly, the company you get to install your solar panel system can play a role in determining the cost. Eden Prairie’s solar companies all have different labor costs and add varying upcharges to equipment. You may notice national solar installers that have lower prices due to their larger 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 | $4.19 | $17,603 | $11,690 | 15.0 years |
| 8 kW | $4.11 | $23,019 | $16,038 | 14.7 years |
| 10 kW | $4.03 | $28,210 | $20,611 | 14.4 years |
| 12 kW | $3.95 | $33,175 | $25,411 | 14.2 years |
| 14 kW | $3.87 | $37,914 | $30,436 | 13.9 years |
| 16 kW | $3.79 | $42,428 | $35,686 | 13.6 years |
| 18 kW | $3.71 | $46,716 | $41,163 | 13.3 years |
| 20 kW | $3.63 | $50,778 | $46,865 | 13.0 years |
How to Save on Solar Panels
There are a large number of companies available in Eden Prairie, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be challenging, so here are some tips to help you decide:
- Contract: Before you sign a contract with a solar installer, be sure to look it over fully so you understand the terms. Also, ask questions if you’re not sure about some of the terms, such as what to do if a component breaks or malfunctions and what services you can expect from them.
- Solar Panel Brands: Not all solar installers carry the same brands of solar panels, so the brand and type of panel you want can play a considerable role in the company you go with.
- Reputation: Companies that have been in business for many years likely have a high reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide quality aftercare and customer service, such as part repairs and replacements.
- Installation Process: An important thing to understand when adopting solar energy is the installation process itself. Be sure to align on any details you should know with your solar company, such as what permits you should acquire and what the project timeline is.
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 Eden Prairie, MN Solar Cost FAQs
How much does it cost to install solar panels in Eden Prairie?
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 other solar equipment or higher quality panels, or if you have above-average energy usage. Conversely, you can spend less if you choose a smaller solar panel system or cheaper solar panels.
Is it better to lease or buy solar panels in Eden Prairie?
Leasing solar panels can be an option if you are unable to pay upfront or get a solar loan, but since you don’t own the system, you don’t have access to many solar incentives. Also your property value won’t increase, so you’ll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most savings from going solar.
Can you sell solar power back to the grid in Eden Prairie?
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 utility bills.
How many solar panels do I need to power my home?
The exact number of solar panels you need depends on your household energy consumption and how much 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 install between 20 and 35 panels to cover 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.