Solar Panel Cost Guide in Inver Grove Heights, MN (Feb 2023)
- Inver Grove Heights Solar Installation Cost: $14,294
- 25-Year Savings: $21,492
- Payback Period: 10.0 Years
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Top Solar Installers in Inver Grove Heights
Many homeowners opt for a solar installer since trying to put up solar panels yourself can be challenging. Also, companies with a good reputation that are more expensive upfront could actually save you money in the long run with their warranties, repair services and expert design.
Working with a licensed solar company can help you make the most of your investment in solar. Here are our recommendations:
See all of the solar companies in Inver Grove Heights
Factors that Affect Solar Panel Costs in Inver Grove Heights
While the average cost of a solar system in Inver Grove Heights is $14,294, your final cost may differ. There are quite a few factors that can have a major impact on the cost of a solar system installation. Below are some of the more important things to keep in mind.
The size of the solar system you need for your household, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by about $2,840. The brand 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 cost more. 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 searching for a solar system that falls within your budget.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be challenging. Solar loans are offered by most installers in Inver Grove Heights, which can bring down, or in some cases completely eliminate, your upfront costs to make solar more affordable. It's wise to factor 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 off the loan.
Solar Panel Installation Company
The solar installer you choose will play a role in your total cost to make the switch to solar power. Different companies will charge different amounts for the equipment and labor. The company's size can sometimes play the most significant role in the installation costs. Larger national companies, like SunPro and Sunrun, often have lower prices due to access 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 discount can bring their pricing lower to compete with bigger names.
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||$17,461||10.4 years|
|8 kW||$2.90||$16,222||$23,600||10.2 years|
|10 kW||$2.84||$19,880||$29,897||10.0 years|
|12 kW||$2.78||$23,379||$36,354||9.8 years|
|14 kW||$2.73||$26,719||$42,970||9.6 years|
|16 kW||$2.67||$29,900||$49,744||9.4 years|
|18 kW||$2.61||$32,921||$56,678||9.2 years|
|20 kW||$2.56||$35,784||$63,771||9.0 years|
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Since choosing a company can be difficult, we have some tips to help you, such as:
- Contract: Look through the contract terms carefully to make sure you understand how much it will cost, project completion timeline incentives and warranties.
- Warranty: If you're concerned about the longevity of your solar panels, ensuring your company offers a 25-year, all-inclusive warranty can help put you at ease.
- Reputation: Your solar installer should have a sound reputation as a company and have demonstrated 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 previous customers.
- Solar Panel Brands: Not all solar installers offer the same brands of solar panels, so the brand and type of panel you want can play a considerable role in the company you go with.
EcoWatch's Inver Grove Heights, MN Solar Cost FAQs
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.