Solar Panel Cost Guide in Independence, MN (2024 Update)
- Independence Solar Installation Cost: $20,316
- 25-Year Savings: $18,938
- Payback Period: 15.3 Years
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Average Cost of Solar Panels in Independence
Find out what the average cost of solar panel installation is in Independence.
In Independence, solar panels cost about 4 per watt on average.Because a 7.2-kW system is needed to cover the energy usage of a typical home in Independence, the average price of going solar will be about $20,316 after claiming the federal solar tax credit of 0.
Keep in mind that the figures above are only estimates based on the average Independence homeowner. 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 Independence homeowner can save around $18,000 on their energy bills over 20 years, which is one of the advantages of solar.
To receive a free estimate from a top solar company in Independence, you can click the button below.
Solar savings over time in Independence
| Year | Return on Investment |
|---|---|
| 1 years | $-19,037 |
| 3 years | $-16,478 |
| 5 years | $-13,919 |
| 7 years | $-11,360 |
| 9 years | $-8,801 |
| 11 years | $-6,242 |
| 13 years | $-3,684 |
| 15 years | $-1,125 |
| 17 years | $1,434 |
| 19 years | $3,993 |
| 21 years | $6,552 |
| 23 years | $9,111 |
| 25 years | $11,670 |
Top Solar Installers in Independence
Installing solar panels yourself can be a challenging project, which is why getting a solar installation company is a good option for many homeowners. Also, companies with a good reputation that are more expensive upfront could actually save you money in the long term with their warranties, repair services and expert design.
If you're looking for a solar company in Independence, we've put together a list of our top suggestions here:
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 Independence
Factors that Affect Solar Panel Costs in Independence
For many Independence homeowners, the decision to install a solar energy system depends on cost. However, the range of solar installation costs can be quite wide in Independence, with typical prices between $20,000 to $40,000. There are a number of factors that considerably influence the price you’ll pay, which we'll go over below.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a variety of factors. One of the major factors is the system size, which is measured in kilowatts (kW). Solar power systems with higher efficiency or power generation require better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $4,030.There are many different solar panel brands and the one you choose also changes the cost. Typically, the brands that are more efficient tend to also be more expensive. Plus, the type of equipment you’re looking to get can affect your total cost. If you just need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be financially overwhelming. Solar loans are provided by most installers in Independence, which can reduce, or in some cases completely eliminate, your upfront costs to make solar more affordable.However, the interest on solar loans also increases your total costs, so it’s important to keep that in mind as well. You can always bring down the total you pay in interest and possibly even your APR by putting more money down.
Solar Panel Installation Company
The last significant cost factor you should keep in mind is the installer you choose. Given the growing popularity of renewable energy solutions in Independence, you’ll have a great number of options to choose from, but each comes at varying price points for labor and equipment.Larger national companies generally have lower costs, but some local companies undercut them by promoting sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or additional services like electric car charger installation, they might be cheaper overall.
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 | $10,102 | 15.9 years |
| 8 kW | $4.11 | $23,019 | $13,921 | 15.6 years |
| 10 kW | $4.03 | $28,210 | $17,965 | 15.3 years |
| 12 kW | $3.95 | $33,175 | $22,235 | 15.0 years |
| 14 kW | $3.87 | $37,914 | $26,731 | 14.7 years |
| 16 kW | $3.79 | $42,428 | $31,452 | 14.4 years |
| 18 kW | $3.71 | $46,716 | $36,400 | 14.1 years |
| 20 kW | $3.63 | $50,778 | $41,572 | 13.7 years |
How to Save on Solar Panels
There are a lot of companies available in Independence, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be challenging, so here are some tips to help you decide:
- Reputation: Your solar installer should have a sound reputation as a company and have proven expertise in the field. A couple of ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has good reviews from previous customers.
- Contract: It’s important to read your solar installer’s contract carefully to understand what services they will provide, what the warranty covers and what you can expect about the project timeline.
- Installation Process: An important thing to understand when adopting solar energy is the installation process itself. Be sure to align on any details you should know with your solar installer, such as what permits you should secure and what the project timeline is.
- Warranty: If you care about the longevity of your solar panel system, checking if your company offers a 25-year, all-inclusive warranty can help put you at ease.
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 Independence, MN Solar Cost FAQs
How much does it cost to install solar panels in Independence?
This is a hard question to answer precisely, because the cost depends on a few different 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 additional solar equipment or more efficient panels, or if you have above-average energy needs. On the flip side, you can spend less if you choose a smaller solar panel system or less expensive solar panels.
Are solar panels free in Independence?
Solar panels aren’t free in Independence, 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 Independence have a net metering program?
The majority of states offer 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 electricity bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.
How many solar panels should I get to power my home?
The exact number of solar panels you need depends on your household energy needs and the amount of 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 buy 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.