Solar Panel Cost Guide in Hastings, MN (2024 Update)

  • Hastings Solar Installation Cost: $20,325
  • 25-Year Savings: $20,212
  • Payback Period: 14.7 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated February 03, 2024

Why you can trust EcoWatch

We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Hastings

Find out what the average cost of a solar system is in Hastings.

Although the national average of solar panels is $2.66 per watt, solar panels in Hastings generally cost around 4.Because a 7.2-kW system is needed to cover the energy consumption of a typical home in Hastings, the average price of going solar will be about $20,325 after claiming the federal solar tax credit of 0.

Keep in mind that the numbers above are only averages. The price you’ll pay for solar will differ based on your household energy use, the type of solar system you want, your solar contractor and more.With typical savings of about $18,000 on utility bills over 20 years, many homeowners in Hastings find installing solar panels can pay off big.

For a free quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.

Solar savings over time in Hastings

Year Return on Investment
1 years $-19,046
3 years $-16,487
5 years $-13,928
7 years $-11,369
9 years $-8,810
11 years $-6,251
13 years $-3,692
15 years $-1,133
17 years $1,426
19 years $3,984
21 years $6,543
23 years $9,102
25 years $11,661

Top Solar Installers in Hastings

When making the switch to solar, many homeowners prefer to hire a solar installer since installing a solar system yourself can be a difficult project. Solar warranties and repairs are usually included in the cost of installation when you sign a contract with a solar contractor too, which can save you more money after your initial investment.

If you’d like to switch to solar energy but still aren’t certain which solar panel company to go with, here are our suggestions for providers near you:

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Social Impact

Palmetto Solar

★★★★★
4.0

  • Expansive service area
  • Makes charitable contributions
  • Certified B Corp
  • No leases or PPAs
  • Quality of installation may vary by location

Best Technology

Tesla Energy

★★★★★
3.2

  • 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

The cost of installing a solar system in Hastings can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The largest one is your system size, and other factors include equipment choices, financing options and the solar company you choose.

Solar Equipment

Solar system size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of installing solar panels. For that reason, it’s crucial to accurately assess 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 want is another factor that will substantially impact costs. Solar panels that are more efficient, like monocrystalline panels, tend to be more costly. Moreover, solar equipment goes beyond just the solar panels themselves. You’ll also need to decide on the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when looking into a solar system that’s in your budget.

Solar Financing Terms

Solar panels can save you money on power bills over many years, but they can also be a big investment. That’s why many Hastings homeowners decide to finance their solar panel systems to make going solar more affordable.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 remarkably.

Solar Panel Installation Company

Finally, the company you choose to install your solar panels can affect how much you pay. Hastings’s solar companies all have different labor costs and add varying upcharges to equipment. The size of the company can sometimes play the most considerable role in the cost. Larger national companies, like SunPro and Sunrun, often have lower pricing due to greater resources and better pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or promotion can bring their pricing down 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 $4.19 $17,603 $11,156 15.3 years
8 kW $4.11 $23,019 $15,326 15.0 years
10 kW $4.03 $28,210 $19,722 14.7 years
12 kW $3.95 $33,175 $24,344 14.4 years
14 kW $3.87 $37,914 $29,191 14.1 years
16 kW $3.79 $42,428 $34,264 13.8 years
18 kW $3.71 $46,716 $39,562 13.5 years
20 kW $3.63 $50,778 $45,086 13.2 years

How to Save on Solar Panels

The company that does your solar panel installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because selecting a company can be a tough decision, we have some tips to help you, such as:

  • Warranty: Many companies offer different kinds of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
  • Reputation: Make sure your solar panel installer has a good reputation by confirming it has certifications and licenses, checking how long it's been in business and reading reviews by past customers and solar experts like EcoWatch.
  • Installation Process: Make sure you’re aligned with the installer in regard to how the installation process will go and what needs to be done before your solar panels are installed, such as repairing your electrical system or roof.
  • Solar Panel Brands: Different companies offer different brands and types of panels. If you prefer a specific brand, make sure the solar company you’re considering has it.

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Social Impact

Palmetto Solar

★★★★★
4.0

  • Expansive service area
  • Makes charitable contributions
  • Certified B Corp
  • No leases or PPAs
  • Quality of installation may vary by location

Best Technology

Tesla Energy

★★★★★
3.2

  • 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?

This is a tough question to answer exactly, because the cost depends on many factors. Generally speaking, it costs about $20,150 for a 5-kW system and $40,300 for a 10-kW system after the ITC is applied. You can expect to pay more if you want other solar equipment or more efficient panels, or if you have above-average energy usage. On the flip side, you can spend less if you want a smaller solar panel system or cheaper solar panels.

Should I lease or buy solar panels in Hastings?

Leasing solar panels can be an option if you can’t afford to pay upfront or secure a solar loan, but since you don’t own the system, you don’t have access to many solar incentives. Also your home value won’t increase, so you’ll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most financial benefits from going solar.

Can you sell solar power back to the grid in Hastings?

Most states offer net metering programs of some kind. Through these, you can either receive compensation for the extra power your system produces or or receive credits to put toward future electricity 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 stop working completely at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can choose to replace them once you've had 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.

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