Solar Panel Cost Guide in Grand Rapids, MN (2023 Update)
- Grand Rapids Solar Installation Cost: $15,032
- 25-Year Savings: $20,073
- Payback Period: 10.7 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Grand Rapids
Find out what the average cost of solar panel installation is in Grand Rapids.
In Grand Rapids, solar panels cost about 2.84 per watt on average. To account for the typical energy needs of the average home in Grand Rapids, most homeowners require a 7.6-kilowatt system. Using the figure above, a solar installation costs around $15,029, or $21,491 before the federal solar tax credit of 30% is applied.
Bear in mind that the figures above are only estimates based on the average energy use of Grand Rapids homeowners. The cost of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor. Many homeowners find going solar is a solid investment. The average homeowner in Grand Rapids can save around $18,000 on their energy bills over 20 years.
To calculate your potential savings and connect with a local solar company, click the button below.
Solar savings over time in Grand Rapids
| Year | Return on Investment |
|---|---|
| 1 years | $-14,915 |
| 3 years | $-14,681 |
| 5 years | $-14,447 |
| 7 years | $-14,213 |
| 9 years | $-13,979 |
| 11 years | $-13,744 |
| 13 years | $-13,510 |
| 15 years | $-13,276 |
| 17 years | $-13,042 |
| 19 years | $-12,808 |
| 21 years | $-12,574 |
| 23 years | $-12,340 |
| 25 years | $-12,106 |
Top Solar Installers in Grand Rapids
When going solar, many homeowners decide to go with a solar company since DIY solar panel installation can be a challenging project. The expertise that solar companies offer can be helpful as well, especially if you aren't sure what kind of solar equipment you need.
If you're on the hunt for a solar company in Grand Rapids, the EcoWatch team has put together 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 Grand Rapids
Factors that Affect Solar Panel Costs in Grand Rapids
The cost of installing a solar system in Grand Rapids can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The most significant one is your system size, and other factors include the equipment you choose, financing options and the solar installer you choose.
Solar Equipment
The size of the solar panel system you need for your home, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by nearly $2,840. There are a lot of different solar panel brands and the one you choose also affects the cost. Generally, the brands that are more efficient tend to also cost more. Additionally, the type of equipment you want to install can affect your total cost. If you just need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Many homeowners find the average cost of solar in Grand Rapids to be too steep, even if the investment pays off over time. Fortunately, nearly every solar company in the area provides access to financing options. Solar loans substantially decrease upfront costs in most cases, but they also lead to higher prices over time due to interest. 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 can only get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or finding a solar loan with a low interest rate could reduce your costs considerably.
Solar Panel Installation Company
A final consideration when trying to figure out the cost of solar for your home or business in Grand Rapids is the company you choose to install your solar panel system. Similar to choosing a company to install new cabinets, for example, there's no shortage of solar installers that offer a range of services at different costs. Larger national companies usually have lower costs, but some local companies compete with them by offering sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or additional services like electric vehicle charger installation, they might be cheaper overall.
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 | $15,451 | 11.1 years |
| 8 kW | $2.90 | $16,222 | $20,919 | 10.9 years |
| 10 kW | $2.84 | $19,880 | $26,547 | 10.7 years |
| 12 kW | $2.78 | $23,379 | $32,333 | 10.5 years |
| 14 kW | $2.73 | $26,719 | $38,279 | 10.3 years |
| 16 kW | $2.67 | $29,900 | $44,383 | 10.1 years |
| 18 kW | $2.61 | $32,921 | $50,647 | 9.8 years |
| 20 kW | $2.56 | $35,784 | $57,070 | 9.6 years |
How to Save on Solar Panels
Since the kind of solar panels and the installation company you choose has an impact on your costs and your system's durability and efficiency, it's important to pick the right ones for you. Here are some things to keep in mind to help with your decision:
- Solar Panel Brands: Each solar panel brand and model offers varying levels of quality, longevity and energy efficiency. They will come at different prices as well. The company you choose impacts which solar panel brands you have access to.
- Installation Process: Homeowners should understand how exactly the installation process will go, as well as important factors like the project completion timeline.
- Contract: Review the contract terms thoroughly to make sure you understand how much it will cost, project completion timeline incentives and warranties.
- Reputation: Long-standing companies 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 quality aftercare and customer service, such as part repairs and replacements.
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 Grand Rapids, MN Solar Cost FAQs
How much does it cost to install solar panels in Grand Rapids?
The average cost of solar panels in Grand Rapids 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 stuff like the model of solar panels you want, what size system you need and how much energy you consume.
What other factors should I consider apart from cost when buying solar panels?
Cost is definitely one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Does Grand Rapids have a net metering program?
Most states have net metering programs of some kind. Through these, you can either receive compensation for the extra power your system generates or or receive credits to put toward future energy bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.
How often do you have to replace solar panels?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger amount 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.