Solar Panel Cost Guide in Hutchinson, MN (2023 Update)
- Hutchinson Solar Installation Cost: $14,096
- 25-Year Savings: $18,054
- Payback Period: 11.0 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Hutchinson
Let's take a look at the average cost of solar panels in Hutchinson.
While the national average of solar panels is $2.66 per watt, solar panels in Hutchinson typically cost around 2.84. Because 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%.
Remember that the numbers above are only averages. The price you'll end up paying for solar will differ based on your household energy needs, the type of solar system you choose, your solar contractor and more. But, once you've paid the initial cost of installation, the savings for most homeowners is usually fruitful, with a net average savings of about $17,000 over 20 years on electricity bills.
For a personalized 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 | $-12,816 |
| 3 years | $-10,257 |
| 5 years | $-7,698 |
| 7 years | $-5,140 |
| 9 years | $-2,581 |
| 11 years | $-22 |
| 13 years | $2,537 |
| 15 years | $5,096 |
| 17 years | $7,655 |
| 19 years | $10,214 |
| 21 years | $12,773 |
| 23 years | $15,332 |
| 25 years | $17,891 |
Top Solar Installers in Hutchinson
When going solar, many homeowners choose to hire a solar installer since overseeing your solar installation yourself can be a difficult project. Plus, if you're not certain what type of solar panels and equipment you need, a solar installer can help you find the right equipment for you after a site survey and consultation.
Working with a licensed solar installer can help you make the most of your investment in solar. Here are our recommendations:
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 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 is determined by several factors. The largest one is the size of the system you need, and other factors include the equipment you choose, financing options and the solar installer you choose.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to some different factors. One of the key factors is the system size, which is measured in kilowatts (kW). Solar power systems with greater efficiency or power generation use 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. The kind of solar panels and equipment you get is another factor that will significantly impact costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to be more costly. Moreover, solar equipment goes beyond just the solar panels themselves. You'll also need to make decisions about 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
If paying for solar panels in cash is out of reach, solar loans are a solid route because they reduce your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years. It's wise to add the interest you'll pay in your final cost estimate. If you can afford to pay a higher down payment, you can reduce your total costs and the amount of time it'll take to pay back the loan.
Solar Panel Installation Company
Lastly, the company you opt for to install your solar system can influence the cost. Hutchinson's solar companies all have different labor costs and add varying upcharges to equipment. Companies that only sell high-quality, high-efficiency and high-price products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come with an above-average cost. It's best to do some research and go with the company that offers the products, warranties and services you want and also is 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 | $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 solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you select the right company for you, here are some tips to keep in mind:
- Installation Process: When going solar, it's necessary to maintain an open line of communication with your solar company. Confirm that you understand how the installation process works and the project timeline.
- Contract: Read the contract terms thoroughly to make sure you understand the total cost, project completion timeline incentives and warranties.
- Solar Panel Brands: Different companies have different brands and models of panels. If you prefer a specific brand, make sure the solar installer you're considering has it.
- Reputation: Your solar installer should have a good reputation as a company and have verifiable expertise in the field. Two ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has good reviews from past customers.
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 Hutchinson, MN Solar Cost FAQs
How much does it cost to install solar panels in Hutchinson?
This is a hard question to answer exactly, because the cost depends on a variety of 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. It will be more expensive if you want other solar equipment or more efficient panels, or if you have above-average energy needs. Conversely, you can spend less if you want a smaller solar panel system or less expensive solar panels.
What other factors should I consider aside from cost when buying solar panels?
Cost is without a doubt one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Is making the switch to solar worth it?
Solar panels can be a fruitful investment for most homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your power bills are already reasonably low, solar panels might not be for you.
How long do solar panels last in Hutchinson?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger level of energy production.
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.