Solar Panel Cost Guide in Farmington, MN (2023 Update)
- Farmington Solar Installation Cost: $14,294
- 25-Year Savings: $20,403
- Payback Period: 10.3 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Farmington
See how much it might cost to make the switch to solar in Farmington.
The average cost of a solar system in Farmington is 2.84 per watt. Using this figure, a typical 7.2-kW system would cost about $14,294 before the 30% federal solar tax credit is applied.
The prices above are just estimates to give you an idea of the cost of a solar panel system. The true cost of installing solar panels can vary depending on several factors, such as what size system you need, your energy usage and what company you go with. For many homeowners, the upfront cost of solar is worth paying. On average homeowners in Farmington see about $18,000 in savings on energy bills over 20 years.
Click the button below to get connected to a highly rated solar panel company in your area for a customized quote.
Solar savings over time in Farmington
| Year | Return on Investment |
|---|---|
| 1 years | $-12,906 |
| 3 years | $-10,130 |
| 5 years | $-7,354 |
| 7 years | $-4,579 |
| 9 years | $-1,803 |
| 11 years | $973 |
| 13 years | $3,749 |
| 15 years | $6,524 |
| 17 years | $9,300 |
| 19 years | $12,076 |
| 21 years | $14,852 |
| 23 years | $17,628 |
| 25 years | $20,403 |
Top Solar Installers in Farmington
Although you can install solar panels yourself, it takes extra energy and knowledge. That's one of the reasons most homeowners choose to hire a solar panel installer. The expertise that solar installers provide can be helpful as well, particularly if you aren't sure what brand of solar equipment would be right for your home.
Working with a licensed solar company can help you make the most of your investment in solar. 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 Farmington
Factors that Affect Solar Panel Costs in Farmington
There are many criteria that can determine your installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that does the installation.
Solar Equipment
One of the most important factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household consumes, the larger your system will likely need to be. You can expect to pay about $2,840 per kilowatt in Farmington. Some solar brands — like Maxeon from SunPower — are more costly upfront but also tend to offer higher efficiency. In a city like Farmington, 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 a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be difficult. Solar loans are available from most installers in Farmington, which can bring down, or in some cases totally eliminate, your upfront costs to make solar more accessible. It's wise to include the interest you'll pay in your final cost estimate. If you can afford to pay a larger down payment, you can reduce your total costs and how long it'll take to pay off the loan.
Solar Panel Installation Company
Finally, the company you hire to install your solar panels can impact how much you pay. Farmington's solar companies all have different labor costs and add varying upcharges to equipment. You may notice national solar installers that have lower prices because of their larger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or specials to compete with those larger companies.
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 | $16,552 | 10.7 years |
| 8 kW | $2.90 | $16,222 | $22,388 | 10.5 years |
| 10 kW | $2.84 | $19,880 | $28,383 | 10.3 years |
| 12 kW | $2.78 | $23,379 | $34,536 | 10.1 years |
| 14 kW | $2.73 | $26,719 | $40,849 | 9.9 years |
| 16 kW | $2.67 | $29,900 | $47,321 | 9.7 years |
| 18 kW | $2.61 | $32,921 | $53,952 | 9.5 years |
| 20 kW | $2.56 | $35,784 | $60,741 | 9.3 years |
How to Save on Solar Panels
Since the brand of solar panels and the company you choose greatly affects your costs and your system's efficiency, production, and durability, it's important to select the right ones for you. Here are some tips to keep in mind to help with your decision:
- Installation Process: Get detailed information from your solar company about the installation process and what to expect, such as when the site survey will be completed and what the project timeline is.
- 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 adequate aftercare and customer service, such as part repairs and replacements.
- Solar Panel Brands: Each solar panel brand and model has varying levels of quality, longevity and efficiency. They will come at different prices as well. The company you choose affects which solar panel brands you have access to.
- Contract: It's important to look over your solar installer's contract thoroughly to understand what services they will provide, what the warranty covers and what expectations you should have about your solar system's energy production.
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 Farmington, MN Solar Cost FAQs
What is the average cost of installing solar panels in Farmington?
The average cost of solar panels in Farmington 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 such as the kind of solar panels you want, what size system you need and how much energy you consume.
Is cost the most important consideration when buying solar panels?
Cost is without a doubt one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Is it worth going solar in Farmington?
Solar panels can be a great investment for lots of homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your electricity bills are already reasonably low, solar panels might not be for you.
What solar power system size is right for 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 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.