Solar Panel Cost Guide in Hermantown, MN (2023 Update)
- Hermantown Solar Installation Cost: $15,142
- 25-Year Savings: $16,763
- Payback Period: 11.9 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Hermantown
We break down average solar pricing in Hermantown.
In Hermantown, solar panels cost about 2.84 per watt on average. The average solar panel system size in Hermantown is around 7.6 kilowatts, meaning a cost of about $15,149 for a solar installation, or $21,663 before the 30% federal solar tax credit is applied.
Keep in mind that the figures above are only estimates based on the average energy use of Hermantown homeowners. The price of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor. Despite the significant initial cost, the average Hermantown homeowner can save about $16,000 on their power bills over 20 years, which is one of the benefits of solar.
To receive a free estimate from a pre-vetted solar company in Hermantown, you can click the button below.
Solar savings over time in Hermantown
| Year | Return on Investment |
|---|---|
| 1 years | $-15,036 |
| 3 years | $-14,823 |
| 5 years | $-14,611 |
| 7 years | $-14,398 |
| 9 years | $-14,185 |
| 11 years | $-13,972 |
| 13 years | $-13,760 |
| 15 years | $-13,547 |
| 17 years | $-13,334 |
| 19 years | $-13,122 |
| 21 years | $-12,909 |
| 23 years | $-12,696 |
| 25 years | $-12,484 |
Top Solar Installers in Hermantown
Putting up solar panels on your own can be a challenging undertaking, which is why getting a solar installer is a good option for many homeowners. Plus, warranties and repairs from your solar panel company can protect your investment and reduce the cost of maintenance over the lifespan of your panels.
There are several 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 Hermantown
Factors that Affect Solar Panel Costs in Hermantown
For many Hermantown homeowners, the decision to go solar rests on cost. However, the range of solar installation costs can be quite wide in Hermantown, with typical prices between $20,000 to $40,000. There are numerous factors that greatly influence the price you'll pay, which we'll go over below.
Solar Equipment
The size of the solar energy 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 about $2,840. Some solar panel brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer better efficiency. In a city like Hermantown, where sunlight isn't as abundant, efficiency can quickly pay off. Plus, if you have a small roof or limited space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be difficult. Solar loans are offered by most installers in Hermantown, which can bring down, or in some cases eliminate, your upfront costs to make solar more affordable. It's a good idea to factor the interest you'll pay in your final cost estimate. If you can afford to pay a larger down payment, you can reduce your total costs and the amount of time it'll take to pay off the loan.
Solar Panel Installation Company
Finally, the company you get to install your solar system can affect the cost. Hermantown's solar companies all have different labor costs and add varying upcharges to equipment. You may come across national solar installers that have lower prices due to their bigger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or promotions to compete with those major players.
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 | $12,728 | 12.3 years |
| 8 kW | $2.90 | $16,222 | $17,288 | 12.1 years |
| 10 kW | $2.84 | $19,880 | $22,008 | 11.9 years |
| 12 kW | $2.78 | $23,379 | $26,887 | 11.6 years |
| 14 kW | $2.73 | $26,719 | $31,925 | 11.4 years |
| 16 kW | $2.67 | $29,900 | $37,121 | 11.2 years |
| 18 kW | $2.61 | $32,921 | $42,477 | 10.9 years |
| 20 kW | $2.56 | $35,784 | $47,992 | 10.7 years |
How to Save on Solar Panels
Since the brand of solar panels and the installer you choose has an impact on your costs and your system's efficiency, production, and durability, it's important to pick the right ones for you. Here are some tips 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 efficiency. They will come at different prices as well. The company you choose plays a role in which solar panel brands you have access to.
- Installation Process: When going solar, it's essential to keep an open line of communication with your solar installer. Confirm that you understand how the installation process will go and the project completion timeline.
- Contract: When reading over your solar installer's contract, ask for clarification about any terms you're not sure of and be sure you understand what happens in scenarios such as a system part breaking or the company going out of business.
- Warranty: If you're concerned about the longevity of your solar panels, making sure your company offers a 25-year, all-inclusive warranty can give you some peace of mind.
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 Hermantown, MN Solar Cost FAQs
What is the average cost of installing solar panels in Hermantown?
This is a difficult question to answer precisely, because the cost depends on a few different factors. Generally 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 consumption. Conversely, you can spend less if you want a smaller solar panel system or less efficient solar panels.
Is it better to lease or buy solar panels in Hermantown?
Leasing solar panels can be an appealing choice, because it usually comes with low or $0 upfront payments. The downside 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 tax rebates and credits and your home value won't increase. Buying solar panels is a better way to go if you want to maximize your savings.
Can you sell solar power back to the grid in Hermantown?
The majority of states offer 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.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy consumption and the average daily sunlight your roof gets. You can look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to install between 20 and 35 panels to account for their typical energy usage.
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.