Solar Panel Cost Guide in Inver Grove Heights, MN (2024 Update)
- Inver Grove Heights Solar Installation Cost: $20,281
- 25-Year Savings: $21,494
- Payback Period: 14.2 Years
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Average Cost of Solar Panels in Inver Grove Heights
We go over average solar pricing in Inver Grove Heights.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Inver Grove Heights, the average cost of solar panels is 4 per watt.Using this figure, a typical 7.2-kW system would cost about $20,281 before the 0 federal solar tax credit is applied.
How much you pay can be above or below the average in Inver Grove Heights based on several factors, such as the kind of solar panels you choose and the solar company you hire.With typical savings of about $19,000 on energy bills over 20 years, many homeowners in Inver Grove Heights find installing solar panels can be quite rewarding.
For a free quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Inver Grove Heights
| Year | Return on Investment |
|---|---|
| 1 years | $-19,001 |
| 3 years | $-16,442 |
| 5 years | $-13,883 |
| 7 years | $-11,324 |
| 9 years | $-8,766 |
| 11 years | $-6,207 |
| 13 years | $-3,648 |
| 15 years | $-1,089 |
| 17 years | $1,470 |
| 19 years | $4,029 |
| 21 years | $6,588 |
| 23 years | $9,147 |
| 25 years | $11,706 |
Top Solar Installers in Inver Grove Heights
Do-it-yourself solar panel installation is a choice some homeowners opt for, but it's an undertaking that can take a lot of hard work. Taking advantage of a solar panel installer can make swapping over to solar power much easier. Another upside of utilizing a solar installer is that they can help you optimize your investment by bringing down your future costs of repairs and replacements because of warranties and helping you learn about local incentives you can take advantage of.
If you’d like to start using solar energy but still aren’t sure which solar system company to go with, here are our suggestions for providers near you:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- 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
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 Inver Grove Heights
Factors that Affect Solar Panel Costs in Inver Grove Heights
Cost is often one of the most important factors for homeowners considering investing in solar. There are a few key factors that affect your total cost in Inver Grove Heights: solar equipment and system size, financing options and the solar installation company you choose. We’ll cover each of these briefly below.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of installing solar panels. That’s why it’s crucial to accurately ascertain the size of the solar energy system needed for your home by figuring out your energy needs.The kind of solar panels and equipment you want is another factor that will substantially influence costs. Solar panels that are more efficient, like monocrystalline panels, tend to be more pricey. 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 looking for a solar system that’s in 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 totally eliminate, your upfront costs to make solar more affordable.Though solar loans make going solar more accessible for Inver Grove Heights homeowners, they can also increase the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you put down a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The solar company you go with to handle your switch to sustainable energy can play a role in your total costs. There are about 3 solar installation companies in Inver Grove Heights, and each can charge varying amounts for labor and equipment.You may see 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 larger companies.
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 | $12,263 | 14.7 years |
| 8 kW | $4.11 | $23,019 | $16,803 | 14.5 years |
| 10 kW | $4.03 | $28,210 | $21,567 | 14.2 years |
| 12 kW | $3.95 | $33,175 | $26,558 | 13.9 years |
| 14 kW | $3.87 | $37,914 | $31,774 | 13.6 years |
| 16 kW | $3.79 | $42,428 | $37,216 | 13.3 years |
| 18 kW | $3.71 | $46,716 | $42,884 | 13.0 years |
| 20 kW | $3.63 | $50,778 | $48,777 | 12.8 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you pick the right company for you, here are some tips to keep in mind:
- Warranty: Companies typically offer different types of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and energy needs. Even though 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 peruse their list of offerings before deciding.
- Reputation: Companies that have been in business for many years likely have a good reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide adequate aftercare and customer service, such as part repairs and replacements.
- Installation Process: When going solar, it’s important to keep an open line of communication with your solar panel company. Confirm that you understand how the installation process works and the project timeline.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- 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
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 Inver Grove Heights, MN Solar Cost FAQs
How much does it cost to install solar panels in Inver Grove Heights?
This is a tough question to answer exactly, because the cost depends on a few different factors. Broadly 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 extra solar equipment or higher quality panels, or if you have higher-than-average energy needs. On the flip side, you can spend less if you go with a smaller solar panel system or less efficient solar panels.
Are solar panels free in Inver Grove Heights?
You can’t get solar panels for free in Inver Grove Heights. However, you may still be able to install them on a lower budget. You can lease solar panels for a low upfront cost or, if you’d prefer to own your solar panels, you can finance them with a solar loan.
Can you sell solar power back to the grid in Inver Grove Heights?
Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just offer you credit toward your future electricity bills.
How long do solar panels last in Inver Grove Heights?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can replace them after having them for that long or you can continue to use them at a lower efficiency.
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.