Solar Panel Cost Guide in Inver Grove Heights, MN (2023 Update)
- Inver Grove Heights Solar Installation Cost: $14,292
- 25-Year Savings: $21,494
- Payback Period: 10.0 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Inver Grove Heights
Find out how much it might cost to switch to solar power 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 2.84 per watt. The average Inver Grove Heights homeowner needs a 7.2-kilowatt system, which would cost about $14,294 with the federal tax credit, or $20,440 before the 30% tax credit is applied.
The true cost of your system can be higher or lower than the average in Inver Grove Heights depending on a variety of factors, such as the model of solar panels you choose and the solar installer you hire. With average savings of about $19,000 on energy bills over 20 years, many homeowners in Inver Grove Heights find investing in solar can pay off big.
To get a free estimate from a vetted solar installer in Inver Grove Heights, you can click the button below.
Solar savings over time in Inver Grove Heights
| Year | Return on Investment |
|---|---|
| 1 years | $-14,173 |
| 3 years | $-13,934 |
| 5 years | $-13,696 |
| 7 years | $-13,457 |
| 9 years | $-13,218 |
| 11 years | $-12,980 |
| 13 years | $-12,741 |
| 15 years | $-12,503 |
| 17 years | $-12,264 |
| 19 years | $-12,026 |
| 21 years | $-11,787 |
| 23 years | $-11,548 |
| 25 years | $-11,310 |
Top Solar Installers in Inver Grove Heights
When switching to solar energy, many homeowners decide to go with a solar installation company since putting up a solar system yourself can be a challenging project. Also, companies with a high reputation that are more expensive upfront could actually save you money in the long run because of their warranties, repair services and expert design.
There are several licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
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 who want to invest in solar. There are a few major factors that will push your cost above or below the average in Inver Grove Heights: solar equipment and system size, financing options and the solar installation company you choose. We'll go over each of these briefly below.
Solar Equipment
One of the most important factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more power your household uses, the larger your system will likely need to be. You can expect to spend around $2,840 per kilowatt in Inver Grove Heights. The brand and kind of equipment you choose for your solar system can increase or decrease the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these are often more expensive than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have a small roof or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to more savings over time. Plus, if you want add-ons like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
Most solar companies in Inver Grove Heights provide solar loans, which reduce your upfront costs of installing solar. Though solar loans make going solar more accessible for Inver Grove Heights homeowners, they can also increase the total you pay for your system due to interest. If you put down a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The solar installer you hire to handle your switch to clean energy can have an effect on your total costs. There are about 3 solar installation companies in Inver Grove Heights, and each can charge varying amounts for labor and equipment. The size of the company sometimes plays the most considerable role in the installation costs. Larger national companies, like SunPro and Sunrun, often have lower prices due to access to greater resources and bulk 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 companies.
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
There are numerous companies to choose from in Inver Grove Heights, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be difficult, so here are some tips to help you decide:
- Solar Panel Brands: Different companies will have various brands and types of panels. If you know you want a specific brand, make sure the solar panel installer you're considering has it.
- Warranty: Companies typically offer different kinds of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Contract: When reading through your solar company's contract, ask for clarification about any terms you're not sure of and be sure you understand what happens in scenarios such as a system part breaking or if the company goes out of business.
- Reputation: Make sure your solar installer has a good reputation by verifying it has certifications and licenses, checking its number of years in business and reading reviews by past customers and solar experts like EcoWatch.
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?
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 actual cost will depend on things like the kind of solar panels you want, what size system you need and how much energy you consume.
Are solar panels free in Inver Grove Heights?
Solar panels aren't free in Inver Grove Heights, 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.
How will installing solar panels impact my property value?
Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Inver Grove Heights is currently $250,312, so you can expect a value of about $10,263 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Inver Grove Heights is a worthwhile investment.
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 should be disposed of 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 once you've had them for that long or you can keep using 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.