Solar Panel Cost Guide in Hastings, MN (2023 Update)
- Hastings Solar Installation Cost: $14,323
- 25-Year Savings: $20,212
- Payback Period: 10.4 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Hastings
We go over average solar pricing in Hastings.
While the national average of solar panels is $2.66 per watt, solar panels in Hastings typically cost around 2.84. To cover the typical energy needs of the average home in Hastings, most homeowners require a 7.2-kilowatt system. Using the figure above, a solar installation costs around $14,314, or $20,469 before the federal solar tax credit of 30% is applied.
These figures are just estimates, and your own solar costs will differ based on the amount of energy your home requires and what company you want to go with. Despite the significant upfront cost, the average Hastings homeowner can save around $18,000 on their energy bills over 20 years, which is one of the positives of solar.
For a customized quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Hastings
| Year | Return on Investment |
|---|---|
| 1 years | $-14,208 |
| 3 years | $-13,978 |
| 5 years | $-13,748 |
| 7 years | $-13,518 |
| 9 years | $-13,287 |
| 11 years | $-13,057 |
| 13 years | $-12,827 |
| 15 years | $-12,597 |
| 17 years | $-12,366 |
| 19 years | $-12,136 |
| 21 years | $-11,906 |
| 23 years | $-11,676 |
| 25 years | $-11,445 |
Top Solar Installers in Hastings
Although it's possible to install solar panels on your own, it requires extra time and expertise. For that reason, the majority of homeowners choose a solar panel installer. A solar company can also help save you money over time by providing warranties, repairs and component replacements.
If you'd like to switch to solar energy but still aren't sure which solar panel installer to go with, here are our suggestions for providers near you:
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 Hastings
Factors that Affect Solar Panel Costs in Hastings
For many Hastings homeowners, the decision to install solar panels depends on cost. However, the range of solar installation costs can be quite wide in Hastings, with typical prices between $20,000 to $40,000. There are various factors that considerably influence the price you'll pay, which we'll go over below.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of going solar. That's why it's important to accurately gauge the size of the solar energy system needed for your home by figuring out your energy needs. The model of solar panels and equipment you choose is another factor that will substantially impact costs. Solar panels that are more efficient, like monocrystalline panels, tend to cost more. Further, 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 researching a solar system that's in your budget.
Solar Financing Terms
Most solar installers in Hastings provide solar loans, which reduce the initial cost of installing solar panels. 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're only able to 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 getting a solar loan with a low APR could reduce your costs considerably.
Solar Panel Installation Company
A final factor to keep in mind when trying to evaluate the cost of solar for your home or business in Hastings is the company you choose to install your solar system. Similar to choosing a company to install new cabinets, for instance, there are plenty of solar installers that offer a range of services for different budgets. The company's size can sometimes play the most considerable role in your total costs. Larger national companies, like SunPro and Sunrun, often have lower pricing because they have access to more resources and bulk pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or discount can bring their pricing lower to compete with bigger companies.
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 | $16,354 | 10.8 years |
| 8 kW | $2.90 | $16,222 | $22,124 | 10.6 years |
| 10 kW | $2.84 | $19,880 | $28,052 | 10.4 years |
| 12 kW | $2.78 | $23,379 | $34,140 | 10.2 years |
| 14 kW | $2.73 | $26,719 | $40,386 | 10.0 years |
| 16 kW | $2.67 | $29,900 | $46,792 | 9.7 years |
| 18 kW | $2.61 | $32,921 | $53,357 | 9.5 years |
| 20 kW | $2.56 | $35,784 | $60,080 | 9.3 years |
How to Save on Solar Panels
There are many companies to choose from in Hastings, 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: Different companies offer various brands and types of panels. If you want a specific brand, make sure the solar company you're considering has it.
- Reputation: Make sure your solar panel installer has a good reputation by verifying it has certifications and licenses, checking how long it's been in business and reading reviews by previous customers and solar experts like EcoWatch.
- Warranty: A comprehensive, 25-year warranty can help keep your solar system running for years to come and save you money on part replacement and repairs.
- 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 such as a system part breaking or if the company goes out of business.
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 Hastings, MN Solar Cost FAQs
How much does it cost to install solar panels in Hastings?
The average cost of solar panels in Hastings 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 kind of solar panels you want, what size system you need and how much energy you use.
Are solar panels free in Hastings?
Solar panels aren't free in Hastings, but there are some options that can make getting them more affordable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that you can take advantage of.
Does Hastings have a net metering program?
Most states have net metering programs of some kind. Through these, you can either be compensated for the extra power your system produces 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 long do solar panels last in Hastings?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can opt to replace them once you've had them for that long or you can continue to use 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.