Solar Panel Cost Guide in Eden Prairie, MN (Mar 2023)
- Eden Prairie Solar Installation Cost: $14,314
- 25-Year Savings: $20,847
- Payback Period: 10.2 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Eden Prairie
We go over average solar pricing in Eden Prairie.
While the national average of solar panels is $2.66 per watt, solar panels in Eden Prairie generally cost around 2.84. The average Eden Prairie homeowner needs a 7.2-kilowatt system, which would cost about $14,314 with the federal tax credit, or $20,469 before the 30% tax credit is applied.
How much you pay can go above or below the average in Eden Prairie based on several factors, such as the type of solar panels you choose and the solar installer you hire. But, once you've paid the upfront cost of installation, the payback for most homeowners is typically good, with a net average savings of about $19,000 over 20 years on energy bills.
To calculate your potential savings and connect with a local solar installer, click the button below.
Solar savings over time in Eden Prairie
| Year | Return on Investment |
|---|---|
| 1 years | $-12,907 |
| 3 years | $-10,094 |
| 5 years | $-7,281 |
| 7 years | $-4,469 |
| 9 years | $-1,656 |
| 11 years | $1,157 |
| 13 years | $3,970 |
| 15 years | $6,783 |
| 17 years | $9,596 |
| 19 years | $12,408 |
| 21 years | $15,221 |
| 23 years | $18,034 |
| 25 years | $20,847 |
Top Solar Installers in Eden Prairie
When going solar, many homeowners opt to use a solar installer since overseeing your solar installation yourself can be a challenging project. Companies can also provide access to a large variety of the best solar panels and help you decide which one will be right for your family.
Working with a professional solar company can make going solar easier. Here are our recommendations:
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
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
See all of the solar companies in Eden Prairie
Factors that Affect Solar Panel Costs in Eden Prairie
There are many criteria that can influence your installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar panels.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of going solar. That's why it's a priority to accurately assess the size of the solar energy system needed for your home by figuring out your average energy use. There are many different solar panel brands and the one you pick also changes the cost. Typically, the brands that are more efficient tend to also cost more. Plus, the type of equipment you're looking to install can affect your total cost. If you just need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Solar panels can save you money on power bills over time, but they can also be a big investment. That's why many Eden Prairie homeowners choose to finance their solar panel systems to make paying for solar more affordable. Though solar loans make adopting solar energy more accessible for Eden Prairie homeowners, they can also raise the total you pay for your system due to interest. If you put down a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
The last significant cost factor you should take into consideration is the installer you choose. Given the growing popularity of sustainable energy solutions in Eden Prairie, you'll have a great number of options to choose from, but each comes at different price points for labor and equipment. Additionally, some companies in Eden Prairie are more knowledgeable about local solar incentives and can help you learn about additional rebates or tax exemptions. Though, they may charge more for walking you through the whole process. Even if they cost more upfront, they could end up saving you more money in the long run.
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 | $16,888 | 10.6 years |
| 8 kW | $2.90 | $16,222 | $22,835 | 10.4 years |
| 10 kW | $2.84 | $19,880 | $28,941 | 10.2 years |
| 12 kW | $2.78 | $23,379 | $35,207 | 10.0 years |
| 14 kW | $2.73 | $26,719 | $41,631 | 9.8 years |
| 16 kW | $2.67 | $29,900 | $48,215 | 9.6 years |
| 18 kW | $2.61 | $32,921 | $54,957 | 9.4 years |
| 20 kW | $2.56 | $35,784 | $61,859 | 9.2 years |
How to Save on Solar Panels
Since the brand 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 pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- Reputation: Solar companies 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 type of solar panel you want plays a role in which installer you should go with, since different companies have different panels.
- Installation Process: When making the switch to solar energy, it's necessary to maintain an open line of communication with your solar panel company. Make sure you understand how the installation process works and the project completion timeline.
- Contract: When reading through your solar company's contract, ask for clarification about any terms you're not sure of and make sure you understand what happens in scenarios like a system part breaking or if the company goes out of business.
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
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
EcoWatch's Eden Prairie, MN Solar Cost FAQs
What is the average cost of installing solar panels in Eden Prairie?
This is a hard question to answer exactly, because the cost depends on a variety of factors. Generally 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 needs. On the flip side, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.
Can you get solar panels for free in Eden Prairie?
You can't get solar panels for free in Eden Prairie. 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 Eden Prairie have a net metering program?
The majority of states have net metering programs of some kind. Through these, you can receive compensation for the extra power your system generates or or receive credits to put toward future utility bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.
How long do solar panels last in Eden Prairie?
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 larger 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.