Solar Panel Cost Guide in Edina, MN (Mar 2023)
- Edina Solar Installation Cost: $14,314
- 25-Year Savings: $21,472
- Payback Period: 10.0 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Edina
Find out what the average cost of solar panels are in Edina.
In Edina, solar panels cost about 2.84 per watt on average. The average solar panel system size in Edina is around 7.2 kilowatts, meaning a cost of about $14,314 for a solar installation, or $20,469 before the 30% federal solar tax credit is applied.
Keep in mind that the numbers above are only averages. The price you'll pay for solar may vary based on your household energy needs, the type of solar system you want, your solar contractor and more. For most homeowners, the upfront investment in solar power is worth paying. On average you could be looking at about $19,000 in savings on utility bills over 20 years.
To receive a free quote from a pre-vetted solar installation company in Edina, you can click the button below.
Solar savings over time in Edina
| Year | Return on Investment |
|---|---|
| 1 years | $-12,882 |
| 3 years | $-10,019 |
| 5 years | $-7,156 |
| 7 years | $-4,294 |
| 9 years | $-1,431 |
| 11 years | $1,432 |
| 13 years | $4,295 |
| 15 years | $7,158 |
| 17 years | $10,021 |
| 19 years | $12,884 |
| 21 years | $15,747 |
| 23 years | $18,610 |
| 25 years | $21,472 |
Top Solar Installers in Edina
Do-it-yourself solar panel installation is a possibility, but it's an undertaking that can be a headache. Going with a solar company can make your switch to solar power much easier. Plus, if you're not certain what kind of solar panels and equipment you want, a solar company can help you figure that out after a site survey and consultation.
There are various licensed solar professionals that can install solar panels for you. Here are our suggestions:
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 Edina
Factors that Affect Solar Panel Costs in Edina
Even though the average cost of a solar system in Edina is $14,314, your actual cost may differ. There are several factors that can have a significant impact on the cost of a solar panel installation. Below are some of the more crucial things to consider.
Solar Equipment
The size of the solar system you need for your household, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by nearly $2,840. The brand and type of equipment you get for your solar system can raise or lower the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these are often more expensive than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have a small roof or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to greater savings over time. Plus, if you want add-ons like an electric vehicle charger or solar batteries, this 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 Edina homeowners opt to finance their solar panel systems to make going solar more affordable. It's wise to include the interest you'll pay in your final cost estimate. If you can afford to pay a higher down payment, you can reduce your total costs and the amount of time it'll take to pay off the loan.
Solar Panel Installation Company
The final key cost factor you should take into consideration is the installer you choose. Given the growing popularity of clean energy solutions in Edina, you'll have plenty of options to choose from, but each comes at various price points for labor and equipment. Some companies only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come with an above-average cost. It's best to do some research and choose a company that has the products, warranties and services you're looking for and also is within your budget.
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 | $17,409 | 10.4 years |
| 8 kW | $2.90 | $16,222 | $23,530 | 10.2 years |
| 10 kW | $2.84 | $19,880 | $29,810 | 10.0 years |
| 12 kW | $2.78 | $23,379 | $36,249 | 9.8 years |
| 14 kW | $2.73 | $26,719 | $42,847 | 9.6 years |
| 16 kW | $2.67 | $29,900 | $49,604 | 9.4 years |
| 18 kW | $2.61 | $32,921 | $56,520 | 9.2 years |
| 20 kW | $2.56 | $35,784 | $63,596 | 9.0 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you decide on the right company for you, here are some tips to keep in mind:
- Contract: Although reading through a contract can take a lot of time, it's important to do it thoroughly so you can make sure you understand how much the equipment and services will cost and the terms of the warranty.
- Solar Panel Brands: The model of solar panel you'd like to install plays a role in which installer you should choose, since different companies provide different panels.
- Warranty: If you're worried about the longevity of your solar panel system, making sure your company offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Reputation: Make sure your solar panel installer has a good reputation by verifying it has certifications and licenses, checking its work history and reading reviews by past customers and solar experts like the EcoWatch team.
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 Edina, MN Solar Cost FAQs
How much does it cost to install solar panels in Edina?
The average cost of solar panels in Edina is about $14,200 for a 5-kW system and $28,400 for a 10-kW system before the ITC, but the real cost will depend on certain factors like the model of solar panels you want, what size system you need and how much energy you use.
Are solar panels free in Edina?
Solar panels aren't free in Edina, but there are some options that can make getting them more viable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that you can take advantage of.
Is switching to solar power worth it?
Whether or not solar panels are worth it depends on a variety of factors like local electricity rates and the amount of direct sunlight your roof gets.
How often do you have to replace solar panels?
Although 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 how much energy they produce will have decreased significantly after that point. You can decide to replace them after having them for that long or you can keep using 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.