Solar Panel Cost Guide in Hutchinson, MN (Mar 2023)
- Hutchinson Solar Installation Cost: $14,095
- 25-Year Savings: $18,055
- Payback Period: 11.0 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Hutchinson
Find out how much it might cost to make the switch to solar in Hutchinson.
The average cost of a solar panel system in Hutchinson is 2.84 per watt. Since a 7.1-kW system is needed to cover the energy consumption of a typical home in Hutchinson, the average price of going solar will be about $14,095 after claiming the federal solar tax credit of 30%.
The actual price you pay can go higher or lower than the average in Hutchinson based on a variety of factors, such as the brand of solar panels you choose and the solar company you hire. But, after you've paid the initial cost of installation, the savings for most homeowners is typically good, with a net average savings of about $17,000 over 20 years on electricity bills.
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 Hutchinson
| Year | Return on Investment |
|---|---|
| 1 years | $-12,809 |
| 3 years | $-10,237 |
| 5 years | $-7,665 |
| 7 years | $-5,093 |
| 9 years | $-2,521 |
| 11 years | $51 |
| 13 years | $2,623 |
| 15 years | $5,195 |
| 17 years | $7,767 |
| 19 years | $10,339 |
| 21 years | $12,911 |
| 23 years | $15,483 |
| 25 years | $18,055 |
Top Solar Installers in Hutchinson
DIY solar panel installation is a choice some homeowners opt for, but it's an undertaking that can use up a lot of your time and energy. Taking advantage of a solar company can make converting to solar power much easier. The expertise that solar installers offer can be valuable as well, particularly if you don't quite know what kind of solar equipment you need.
Working with a professional solar installer can help your solar project go smoothly. Here are our recommendations:
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 Hutchinson
Factors that Affect Solar Panel Costs in Hutchinson
The cost of installing a solar system in Hutchinson can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The biggest one is the size of the system your household needs, and other factors include the equipment you choose, financing options and the solar company you choose.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a few different factors. One of the major factors is the system size, which is measured in kilowatts (kW). Solar power systems with greater efficiency or power generation need better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $2,840. There are many different solar panel brands and the one you pick also changes the cost. Typically, the brands that have better 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 far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Many homeowners find the average cost of solar in Hutchinson to be prohibitively costly, even if the investment pays off over time. Thankfully, almost every solar installer in the area provides financing options. Solar loans substantially decrease upfront costs for most homeowners, but they also lead to paying more over time due to interest. Though solar loans make switching to solar energy more accessible for Hutchinson homeowners, they can also add to the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you make a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
The final significant cost factor you should consider is the installer you choose. Given the booming popularity of sustainable energy solutions in Hutchinson, you'll have many options to choose from, but each comes at varying price points for labor and equipment. The company's size sometimes plays the most considerable role in your total costs. Larger national companies, like SunPro and Sunrun, often have lower prices due to access to more resources and bulk pricing. Smaller local companies might be more costly, but they can sometimes 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 | $14,801 | 11.4 years |
| 8 kW | $2.90 | $16,222 | $20,052 | 11.2 years |
| 10 kW | $2.84 | $19,880 | $25,463 | 11.0 years |
| 12 kW | $2.78 | $23,379 | $31,033 | 10.7 years |
| 14 kW | $2.73 | $26,719 | $36,762 | 10.5 years |
| 16 kW | $2.67 | $29,900 | $42,649 | 10.3 years |
| 18 kW | $2.61 | $32,921 | $48,696 | 10.1 years |
| 20 kW | $2.56 | $35,784 | $54,902 | 9.9 years |
How to Save on Solar Panels
There are many companies to choose from in Hutchinson, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be difficult, so here are some tips to help you decide:
- Installation Process: When making the switch to solar, it's crucial to maintain an open line of communication with your solar installer. Make sure you understand how the installation process will go and the completion timeline.
- Contract: Before signing a contract with a solar installer, make sure you look it over carefully so you understand the terms. Also, ask questions if you're not sure about some of the terms, such as what to do if a component breaks or malfunctions and what services you can expect from them.
- Reputation: Solar installers that have great reviews from their customers and that have been operating for many years most likely offer quality solar panel installation and expertise.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and energy needs. While there are many options for which type of solar panel you can get, not every company will have the exact one you may want or need, so make sure you take a look at their list of options before making your decision.
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 Hutchinson, MN Solar Cost FAQs
How much does it cost to install solar panels in Hutchinson?
The average cost of solar panels in Hutchinson 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 stuff like the type of solar panels you want, what size system you need and how much energy you use.
What other factors should I consider other than cost when buying solar panels?
Cost is without a doubt one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
How will solar panels impact my home value?
Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Hutchinson is currently $164,400, which means you can look forward to a value of about $6,740 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Hutchinson is a fruitful investment.
How many solar panels should I get to power 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 typically produce about 250 to 400 watt-hours per hour, the average home 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.