Solar Panel Cost Guide in Inver Grove Heights, MN (Jan 2023)

  • Inver Grove Heights Solar Installation Cost: $14,294
  • 25-Year Savings: $21,492
  • Payback Period: 10.0 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated January 20, 2023

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We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Inver Grove Heights

We go over average solar pricing in Inver Grove Heights.

In Inver Grove Heights, solar panels cost about $3 per watt on average. Using this figure, a typical 7.2 would cost about $14,294 before the 30% federal solar tax credit is applied.

These figures are just estimates, and the cost of going solar for you will vary based on your specific situation and what company you want to go with. But, once you've paid the initial cost of installation, the return on investment for most homeowners is usually good, with a net average savings of about $19,000 over 20 years on electricity bills.

To calculate your potential ROI and connect with a local solar installer, click the button below.

Solar savings over time in Inver Grove Heights

Year Return on Investment
1 years $-12,862
3 years $-9,999
5 years $-7,137
7 years $-4,274
9 years $-1,411
11 years $1,452
13 years $4,315
15 years $7,178
17 years $10,041
19 years $12,904
21 years $15,767
23 years $18,629
25 years $21,492

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:

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Technology

Tesla Energy

★★★★★
4.5

  • 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

★★★★★
4.0

  • 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 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.

Solar Equipment

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.

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Technology

Tesla Energy

★★★★★
4.5

  • 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

★★★★★
4.0

  • Expansive service area
  • Makes charitable contributions
  • Certified B Corp
  • No leases or PPAs
  • Quality of installation may vary by location

EcoWatch's Inver Grove Heights, MN Solar Cost FAQs

How much does it cost to install solar panels in Inver Grove Heights?

The average cost of solar panels in Inver Grove Heights is about $14,200 for a 5-kW system and $28,400 for a 10-kW system before the ITC, but the real cost will depend on things such as the model of solar panels you want, what size system you need and how much energy you consume.

Should I lease or buy solar panels in Inver Grove Heights?

Leasing solar panels can be an option if you can't afford to pay upfront or get a solar loan, but since you don't own the system, you can't take advantage of many solar incentives. Also your home value won't increase, so you'll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most savings from going solar.

Does Inver Grove Heights have a net metering program?

The majority of states have net metering programs of some kind. Through these, you can either receive compensation for the extra power your system generates or or receive credits to put toward future energy bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.

How often do you have to replace solar panels?

Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is how much energy they produce will have decreased significantly after that point. You can decide to 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.

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