Solar Panel Cost Guide in Farmington, MN (2023 Update)
- Farmington Solar Installation Cost: $14,292
- 25-Year Savings: $20,405
- Payback Period: 10.3 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Farmington
Let's have a look at the average cost of solar panels in Farmington.
Although the national average of solar panels is $2.66 per watt, solar panels in Farmington generally cost about 2.84. Since a 7.2-kW system is needed to cover the energy costs of a typical home in Farmington, the average price of going solar will be about $14,294 after claiming the federal solar tax credit of 30%.
The true cost of your system can go higher or lower than the average in Farmington depending on several factors, such as the model of solar panels you choose and the solar installer you hire. For most homeowners, the upfront investment in solar power is worth paying. On average homeowners in Farmington see about $18,000 in savings on energy bills over 20 years.
For a personalized quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Farmington
| Year | Return on Investment |
|---|---|
| 1 years | $-14,176 |
| 3 years | $-13,945 |
| 5 years | $-13,714 |
| 7 years | $-13,482 |
| 9 years | $-13,251 |
| 11 years | $-13,020 |
| 13 years | $-12,788 |
| 15 years | $-12,557 |
| 17 years | $-12,326 |
| 19 years | $-12,094 |
| 21 years | $-11,863 |
| 23 years | $-11,632 |
| 25 years | $-11,401 |
Top Solar Installers in Farmington
Trying to install solar panels by yourself can be a stressful task, which is why getting a solar installation company is a good option for many homeowners. The expertise that solar installers offer can be valuable as well, especially if you don't quite know what brand of solar equipment would be right for your home.
If you're on the hunt for a solar installer in Farmington, we've compiled a list of our top suggestions here:
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 Farmington
Factors that Affect Solar Panel Costs in Farmington
For many Farmington homeowners, the decision to install a solar energy system depends on cost. However, the range of solar installation costs can be quite wide in Farmington, with typical prices between $20,000 to $40,000. There are various factors that considerably influence the price you'll pay, which we'll go over below.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of installing solar panels. That's why it's a priority to accurately ascertain the size of the solar energy system needed for your home by figuring out your average energy use. The type of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you choose the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. However, higher efficiency could save you more over time on your energy bills. Additionally, add-on products, such as solar batteries, can bring your total well above the Farmington average.
Solar Financing Terms
Most solar installers in Farmington provide solar loans, which reduce the initial cost of installing solar. You'll have to consider the long-term cost of financing options, including the total interest you'll pay over the length of the loan. If you're only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the principal cost. Making a larger down payment or getting a solar loan with a low APR could reduce your costs significantly.
Solar Panel Installation Company
The solar company you go with to handle your switch to renewable energy can play a part in your total costs. There are about 3 solar panel companies operating in Farmington, and each can charge varying amounts for labor and equipment. Companies that only sell high-efficiency and high-priced products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally cost more. It's best to do some research and choose a company that offers 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 | $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
The solar panel company you choose will impact not only your total costs, but also the types of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are several important things you should consider, including:
- Reputation: Solar companies that have great reviews from their customers and that have been in business for many years in most cases offer quality solar panel installation and expertise.
- Contract: Read the contract terms closely to make sure you understand the overall cost, project timeline rebates and warranties.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their roof configurations and how much efficiency they need. Even though there are many options for which kind of solar panel you can get, not every company will have the exact one you may want or need, so make sure you take a look at their list of offerings before deciding.
- Installation Process: Get detailed information from your solar installer about the installation process and what to expect, such as when the site survey will be completed and how long it will take.
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 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 things such as the type of solar panels you want, what size system you need and how much energy you consume.
Can you get solar panels for free in Farmington?
You can't get solar panels for free in Farmington. 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 prefer to own your solar panels, you can finance them with a solar loan.
Is it worth going solar in Farmington?
Whether or not solar panels are worth it depends on some different factors like how much you pay for electricity and the amount of direct sunlight your roof gets.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy needs and the average daily 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 account for 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.