Solar Panel Cost Guide in Fergus Falls, MN (2023 Update)
- Fergus Falls Solar Installation Cost: $14,191
- 25-Year Savings: $14,766
- Payback Period: 12.3 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Fergus Falls
Let's take a look at the average cost of solar panels in Fergus Falls.
The average cost of a solar panel system in Fergus Falls is 2.84 per watt. The average Fergus Falls homeowner needs a 7.1-kilowatt system, which would cost about $14,194 with the federal tax credit, or $20,297 before the 30% tax credit is applied.
Bear in mind that the figures above are only estimates based on the average Fergus Falls homeowner. The price of a solar system for your home may look different depending on factors unique to your situation, like your household energy use and solar contractor. With typical savings of about $15,000 on energy bills over 20 years, many homeowners in Fergus Falls find going solar can be quite rewarding.
To receive a free estimate from a vetted solar installation company in Fergus Falls, you can click the button below.
Solar savings over time in Fergus Falls
| Year | Return on Investment |
|---|---|
| 1 years | $-13,139 |
| 3 years | $-11,035 |
| 5 years | $-8,932 |
| 7 years | $-6,828 |
| 9 years | $-4,724 |
| 11 years | $-2,621 |
| 13 years | $-517 |
| 15 years | $1,587 |
| 17 years | $3,690 |
| 19 years | $5,794 |
| 21 years | $7,897 |
| 23 years | $10,001 |
| 25 years | $12,105 |
Top Solar Installers in Fergus Falls
Do-it-yourself solar panel installation is a way to cut costs, but it's an undertaking that can be a pain. Hiring a solar panel installer can make switching to solar power much easier. Also, companies with a good reputation that are more expensive upfront could actually save you money in the long term due to their warranties, repair services and expert design.
There are a number of licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
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 Fergus Falls
Factors that Affect Solar Panel Costs in Fergus Falls
The cost of installing a solar system in Fergus Falls can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The biggest one is the size of the system your home needs, and other factors include equipment choices, financing options and the solar installer you choose.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of installing solar panels. Because of that, it's important to accurately ascertain the size of the solar energy system needed for your home by figuring out your average energy use. The kind 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. On the other hand, more efficient panels could save you more in the long run on your electric bills. Additionally, add-on products, such as solar batteries, can bring your total well above the Fergus Falls average.
Solar Financing Terms
Most solar installers in Fergus Falls provide solar loans, which reduce the initial cost of installing a solar system. Even though solar loans make adopting solar energy more accessible for Fergus Falls homeowners, they can also add to 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
Lastly, the company you get to install your solar system can influence your pricing. Fergus Falls' solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Fergus Falls know more about local solar incentives and can help you make good use of additional rebates or tax exemptions. However, they may charge more for that service. Even if they cost more upfront, they could help you save 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 | $11,935 | 12.7 years |
| 8 kW | $2.90 | $16,222 | $16,231 | 12.5 years |
| 10 kW | $2.84 | $19,880 | $20,686 | 12.3 years |
| 12 kW | $2.78 | $23,379 | $25,301 | 12.0 years |
| 14 kW | $2.73 | $26,719 | $30,074 | 11.8 years |
| 16 kW | $2.67 | $29,900 | $35,007 | 11.5 years |
| 18 kW | $2.61 | $32,921 | $40,098 | 11.3 years |
| 20 kW | $2.56 | $35,784 | $45,349 | 11.0 years |
How to Save on Solar Panels
There are a large number of companies to choose from in Fergus Falls, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be tough, so here are some tips to help you decide:
- Warranty: If you're worried about the endurance of your solar system, verifying that your company offers a 25-year, all-inclusive warranty can help put you at ease.
- Reputation: Your solar installer should have a good reputation as a company and have proven expertise in the field. Two ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has satisfied reviews from previous customers.
- Solar Panel Brands: Not all solar installers offer the same brands of solar panels, so the brand and type of panel you want can play a big role in the company you go with.
- Contract: It's important to read your solar installer's contract fully to understand what services they will provide, what the warranty covers and what you can expect about the installation process.
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 Fergus Falls, MN Solar Cost FAQs
What is the average cost of installing solar panels in Fergus Falls?
The average cost of solar panels in Fergus Falls is about $14,200 for a 5-kW system and $28,400 for a 10-kW system before the ITC, but the actual cost will depend on certain factors like the kind of solar panels you want, what size system you need and how much energy you use.
Can you get solar panels for free in Fergus Falls?
You can't get solar panels for free in Fergus Falls. However, you may still be able to install them on a lower budget. You can lease solar panels for a low upfront cost or, if you want to own your solar panels, you can finance them with a solar loan.
How much can I save on energy bills after switching to solar?
It is possible to eradicate your electricity bills with solar panels, but for most homeowners throughout Fergus Falls, that will require at least a 10-kW system. Not all homes will have the roof space for that size system, so you'll want to check with a local solar installer to see how many panels can fit on your roof.
How often do you have to replace solar panels?
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 higher 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.