Solar Panel Cost Guide in Grant, MN (Mar 2023)
- Grant Solar Installation Cost: $14,353
- 25-Year Savings: $21,433
- Payback Period: 10.0 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Grant
Find out what the average cost of a solar system is in Grant.
While the national average of solar panels is $2.66 per watt, solar panels in Grant typically cost around 2.84. Because a 7.2-kW system is needed to cover the energy consumption of a typical home in Grant, the average price of going solar will be about $14,353 after claiming the federal solar tax credit of 30%.
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 quite a bit based on several factors, such as how many panels you need, your energy consumption and what installation company you go with. With typical savings of about $19,000 on energy bills over 20 years, many homeowners in Grant find investing in solar can be quite rewarding.
To get a free estimate from a highly rated solar installation company in Grant, you can click the button below.
Solar savings over time in Grant
| Year | Return on Investment |
|---|---|
| 1 years | $-12,922 |
| 3 years | $-10,059 |
| 5 years | $-7,196 |
| 7 years | $-4,333 |
| 9 years | $-1,470 |
| 11 years | $1,392 |
| 13 years | $4,255 |
| 15 years | $7,118 |
| 17 years | $9,981 |
| 19 years | $12,844 |
| 21 years | $15,707 |
| 23 years | $18,570 |
| 25 years | $21,433 |
Top Solar Installers in Grant
Putting up solar panels on your own can be a time-consuming project, which is why getting a solar installation company is a good option for many homeowners. A solar company can also help save you money over the lifespan of your system by providing warranties, repairs and system component replacements.
You can get a free quote from a local solar installer on the cost of solar panels for your home. Here are some nearby:
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 Grant
Factors that Affect Solar Panel Costs in Grant
There are many criteria that can affect your solar panel installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar system.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a few different factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems that have greater efficiency or power generation need better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $2,840. There are several different solar panel brands and the one you pick also changes the cost. In general, the brands that offer higher efficiency tend to also be more expensive. In addition, the type of equipment you're looking to install can affect your total cost. If you only need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be a challenge. Solar loans are provided by most installers in Grant, which can lower, or in some cases totally eliminate, your upfront costs to make solar more accessible. You'll have to consider the long-term cost of financing options, including the amount of 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 significantly.
Solar Panel Installation Company
A final consideration when trying to estimate the cost of solar for your home or business in Grant is the company you choose to install your solar system. Similar to choosing a company to renovate your kitchen, for instance, there's no shortage of solar installers that offer a range of services for different budgets. Additionally, some companies in Grant have more knowledge 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 | $17,331 | 10.4 years |
| 8 kW | $2.90 | $16,222 | $23,426 | 10.2 years |
| 10 kW | $2.84 | $19,880 | $29,680 | 10.0 years |
| 12 kW | $2.78 | $23,379 | $36,093 | 9.8 years |
| 14 kW | $2.73 | $26,719 | $42,665 | 9.6 years |
| 16 kW | $2.67 | $29,900 | $49,396 | 9.4 years |
| 18 kW | $2.61 | $32,921 | $56,286 | 9.2 years |
| 20 kW | $2.56 | $35,784 | $63,335 | 9.0 years |
How to Save on Solar Panels
There are numerous companies available in Grant, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be difficult, so here are some tips to help you decide:
- Reputation: Make sure your solar installer has a good reputation by confirming it has certifications and licenses, checking its number of years in business and reading reviews by previous customers and solar experts like the EcoWatch team.
- Warranty: Companies typically offer different kinds of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Solar Panel Brands: Different companies have different brands and models of panels. If you want a specific brand, make sure the solar panel installer you're considering has it.
- Contract: When looking over your solar installer's contract, ask for clarification about any terms you're not sure of and make sure you understand what happens in scenarios like a system part breaking or if the company goes out of business.
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 Grant, MN Solar Cost FAQs
What is the average cost of installing solar panels in Grant?
This is a tough question to answer exactly, because the cost depends on a variety of factors. Broadly speaking, it costs about $14,200 for a 5-kW system and $28,400 for a 10-kW system after the ITC is applied. You can expect to pay more if you want additional solar equipment or higher quality panels, or if you have higher-than-average energy usage. On the flip side, you can spend less if you want a smaller solar panel system or less expensive solar panels.
Should I lease or buy solar panels in Grant?
Leasing solar panels can be an attractive choice, as it typically comes with low or $0 upfront payments. The drawback 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 option if you want to maximize your savings.
Do solar panels increase the value of your home?
Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Grant is currently $301,359, so you can expect a value of about $12,356 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Grant is a worthwhile investment.
How many solar panels should I get to power my home?
To figure out how many solar panels you need, you need to know how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average household will need 20 to 35 panels.
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.