Solar Panel Cost Guide in Grant, MN (2023 Update)
- Grant Solar Installation Cost: $14,355
- 25-Year Savings: $21,431
- Payback Period: 10.0 Years
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Updated September 15, 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.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Grant, the typical cost of solar panels is 2.84 per watt. The average Grant homeowner needs a 7.2-kilowatt system, which would cost about $14,353 with the federal tax credit, or $20,525 before the 30% tax credit is applied.
Keep in mind that the figures above are only estimates based on the average Grant homeowner. The cost of a solar system for your home may look different depending on factors unique to you, like your household energy use and solar contractor. Despite the significant initial cost, the average Grant homeowner can save around $19,000 on their energy bills over 20 years, which is one of the benefits of solar.
Click the button below to get connected to a vetted solar panel company in Grant for a personalized estimate.
Solar savings over time in Grant
| Year | Return on Investment |
|---|---|
| 1 years | $-14,236 |
| 3 years | $-13,997 |
| 5 years | $-13,758 |
| 7 years | $-13,520 |
| 9 years | $-13,281 |
| 11 years | $-13,043 |
| 13 years | $-12,804 |
| 15 years | $-12,566 |
| 17 years | $-12,327 |
| 19 years | $-12,088 |
| 21 years | $-11,850 |
| 23 years | $-11,611 |
| 25 years | $-11,373 |
Top Solar Installers in Grant
When switching to solar energy, many homeowners prefer to use a solar installation company since handling can be a time-consuming project. Also, companies with a high 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 help you install your solar panels. 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 Grant
Factors that Affect Solar Panel Costs in Grant
For many Grant homeowners, the decision to adopt solar energy rests on cost. However, the range of solar installation costs can be quite wide in Grant, with typical prices between $20,000 to $40,000. There are various factors that greatly 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 determines the overall cost of installing solar panels. For that reason, it's a priority to accurately gauge the size of the solar energy system needed for your home by figuring out your energy needs. The type of solar panels and equipment you get is another factor that will greatly affect costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to come at a higher price. Furthermore, solar equipment goes beyond just the solar panels themselves. You'll also need to consider the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when searching for a solar system that falls within your budget.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be a challenge. Solar loans are available from most installers in Grant, which can bring down, or in some cases completely eliminate, your upfront costs to make solar more accessible. However, the interest on solar loans also increases your total costs, so it's crucial to take that into consideration as well. You can always lower the total you pay in interest and possibly even your APR by making a larger down payment.
Solar Panel Installation Company
The solar panel installer you choose will play a role in your total cost to make the switch to solar . Different companies will charge different amounts for the equipment and labor. Companies that only sell products with high efficiency and therefore a higher price point — 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 go with the company that offers the products, warranties and services you're looking for and also fits 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 | $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
The solar panel company you choose will impact not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are some important things you should consider, including:
- Solar Panel Brands: Each solar panel brand and type offers varying levels of quality, durability and energy efficiency. They will come at different price points as well. The company you choose plays a role in which solar panel brands you have access to.
- Warranty: Warranties that provide coverage for defective panels and repairs over a couple decades are the best you can get in the business, and offering that kind of warranty is one sign of a good company.
- 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.
- Contract: Before you sign a contract with a solar company, make sure to read it through fully so you understand the terms. Also, ask questions if you're not certain about some of the terms, such as what to do if a component breaks or malfunctions and what services you can expect from them.
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 Grant, MN Solar Cost FAQs
What is the average cost of installing solar panels in Grant?
The average cost of solar panels in Grant 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 things like the type of solar panels you want, what size system you need and how much energy you use.
Are solar panels free in Grant?
You can't get solar panels for free in Grant. However, you may still be able to get 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.
How will having solar panels impact how much my home is worth?
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 look forward to 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.
What solar power system size is right for my home?
To figure out how many solar panels you need, you should find out how much energy your home needs 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 house 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.