Solar Panel Cost Guide in Goodview, MN (2023 Update)
- Goodview Solar Installation Cost: $14,435
- 25-Year Savings: $22,141
- Payback Period: 9.9 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Goodview
Find out what the average cost of installing solar panels is in Goodview.
The national average cost of solar panels is $2.66 per watt, but in Goodview it's 2.84 per watt. The average Goodview homeowner needs a 7.3-kilowatt system, which would cost about $14,433 with the federal tax credit, or $20,639 before the 30% tax credit is applied.
Bear in mind that the figures above are only estimates based on the average energy use of Goodview homeowners. The price of a solar system for your home may be different depending on factors unique to your situation, like your household energy use and solar contractor. With average savings of about $19,000 on electricity bills over 20 years, many homeowners in Goodview find investing in solar has a decent ROI.
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 Goodview
| Year | Return on Investment |
|---|---|
| 1 years | $-13,155 |
| 3 years | $-10,596 |
| 5 years | $-8,037 |
| 7 years | $-5,478 |
| 9 years | $-2,919 |
| 11 years | $-361 |
| 13 years | $2,198 |
| 15 years | $4,757 |
| 17 years | $7,316 |
| 19 years | $9,875 |
| 21 years | $12,434 |
| 23 years | $14,993 |
| 25 years | $17,552 |
Top Solar Installers in Goodview
DIY solar panel installation is a possibility, but it's an undertaking that can be a pain. Taking advantage of a solar company can make your swap to solar power much easier. A solar installer can also help save you money in the long run by offering warranties, repairs and component replacements.
Working with a licensed solar installer can help your solar project go smoothly. Here are our recommendations:
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 Goodview
Factors that Affect Solar Panel Costs in Goodview
For many Goodview homeowners, the decision to go solar rests on cost. However, the range of solar installation costs can be quite wide in Goodview, with typical prices between $20,000 to $40,000. There are a few factors that considerably influence the price you'll pay, which we'll go over below.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a variety of factors. One of the key factors is the system size, which is measured in kilowatts (kW). Solar power systems that have better efficiency or power generation require better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $2,840. The brand and type of equipment you choose for your solar system can raise or lower the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often come at a higher price than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have limited roof space 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 extra equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
Most solar companies in Goodview offer solar loans, which reduce the initial cost of installing solar. Even though solar loans make going solar more accessible for Goodview homeowners, they can also raise the total you pay for your system, depending on your interest rate. If you put down a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
Lastly, the company you choose to install your solar panel system can impact how much you pay. Goodview's solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Goodview know more about local solar incentives and can help you make good use of 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 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 | $17,819 | 10.3 years |
| 8 kW | $2.90 | $16,222 | $24,076 | 10.1 years |
| 10 kW | $2.84 | $19,880 | $30,493 | 9.9 years |
| 12 kW | $2.78 | $23,379 | $37,069 | 9.7 years |
| 14 kW | $2.73 | $26,719 | $43,804 | 9.5 years |
| 16 kW | $2.67 | $29,900 | $50,698 | 9.3 years |
| 18 kW | $2.61 | $32,921 | $57,750 | 9.1 years |
| 20 kW | $2.56 | $35,784 | $64,962 | 8.9 years |
How to Save on Solar Panels
There are a large number of companies available in Goodview, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be challenging, so here are some tips to help you decide:
- Solar Panel Brands: Homeowners will have different preferences for panels based on their roof configurations and energy needs. Although there are many options for which brand of solar panel you can get, not every company will have access to the exact one you may want or need, so make sure you take a look at their list of offerings before making your decision.
- Reputation: Solar companies that have great reviews from their customers and that have been in business for many years likely provide quality solar panel installation and expertise.
- Contract: Although reading through a contract can be tedious, it's important to do it carefully so you can be sure you understand what services your solar company will provide and how part repairs and replacements will be handled.
- Installation Process: One of the most important things to understand when adopting solar power is the installation process itself. Be sure to align on any details you need to know with your solar company, such as what permits you should acquire and what the project timeline is.
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 Goodview, MN Solar Cost FAQs
What is the average cost of installing solar panels in Goodview?
The average cost of solar panels in Goodview 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.
Is it better to lease or buy solar panels in Goodview?
Leasing solar panels can be an attractive choice, as it commonly comes with low or $0 upfront payments. The downside is that you won't be able to save as much. If you lease, you don't own the system, so you can't claim any incentives and your home value won't increase. Buying solar panels is a better way to go if you want to get the most savings.
Do solar panels increase the value of your home?
Solar panels can increase your property's value remarkably as long as you buy or finance your panels and don't choose a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% with a solar installation."
How often do you have to replace solar panels?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of 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.