Solar Panel Cost Guide in Lindstrom, MN (2024 Update)
- Lindstrom Solar Installation Cost: $20,377
- 25-Year Savings: $22,793
- Payback Period: 13.7 Years
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Average Cost of Solar Panels in Lindstrom
Here’s how much it might cost to switch to solar power in Lindstrom.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Lindstrom, the average cost of solar panels is 4 per watt.The average solar panel system size in Lindstrom is around 7.2 kilowatts, meaning a cost of about $20,377 for a solar installation, or $29,139 before the 0 federal solar tax credit is applied.
The prices above are just estimates to give you an idea of the cost of solar panels. The true cost of going solar can vary depending on several factors, such as what size system you need, your energy usage and what solar installer you go with.Even with the high upfront cost, the average Lindstrom homeowner can save about $20,000 on their power bills over 20 years, which is one of the benefits of solar.
To see your potential ROI and connect with a local solar company, click the button below.
Solar savings over time in Lindstrom
| Year | Return on Investment |
|---|---|
| 1 years | $-19,098 |
| 3 years | $-16,539 |
| 5 years | $-13,980 |
| 7 years | $-11,421 |
| 9 years | $-8,862 |
| 11 years | $-6,304 |
| 13 years | $-3,745 |
| 15 years | $-1,186 |
| 17 years | $1,373 |
| 19 years | $3,932 |
| 21 years | $6,491 |
| 23 years | $9,050 |
| 25 years | $11,609 |
Top Solar Installers in Lindstrom
Many homeowners decide to use a solar panel company since trying to install solar panels on your own can be hard. A solar company can also help save you money over the lifespan of your system by providing warranties, repairs and component replacements.
Working with a vetted solar installer can help your solar project go smoothly. Here are our recommendations:
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 Lindstrom
Factors that Affect Solar Panel Costs in Lindstrom
Cost is often one of the most important factors for homeowners wanting to invest in solar. There are a few major factors that determine your overall cost in Lindstrom: solar equipment and system size, financing options and the solar installation company you choose. We’ll discuss each of these briefly below.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a variety of factors. One of the notable factors is the system size, which is measured in kilowatts (kW). Solar power systems that have greater efficiency or power generation use better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $4,030.The model of solar panels and equipment you get is another factor that will largely affect costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to come at a higher price. Plus, solar equipment consists of more than 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’s in your budget.
Solar Financing Terms
Solar panels can save you money on power bills over time, but they can also be a big investment. That’s why many Lindstrom homeowners opt to finance their solar panel systems to make paying for solar more affordable.You’ll have to consider the long-term cost of financing options, including the amount of interest you’ll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or getting a solar loan with a low interest rate could reduce your costs significantly.
Solar Panel Installation Company
Lastly, the company you choose to install your solar system can influence the cost. Lindstrom’s solar companies all have different labor costs and add varying upcharges to equipment. Some companies only sell high-quality, high-efficiency and high-price products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come with an above-average cost. It’s best to do some research and choose a company that provides the products, warranties and services you want and also is within your budget.
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 | $13,257 | 14.3 years |
| 8 kW | $4.11 | $23,019 | $18,128 | 14.0 years |
| 10 kW | $4.03 | $28,210 | $23,224 | 13.7 years |
| 12 kW | $3.95 | $33,175 | $28,546 | 13.4 years |
| 14 kW | $3.87 | $37,914 | $34,093 | 13.2 years |
| 16 kW | $3.79 | $42,428 | $39,866 | 12.9 years |
| 18 kW | $3.71 | $46,716 | $45,865 | 12.6 years |
| 20 kW | $3.63 | $50,778 | $52,089 | 12.3 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 select the right company for you, here are some tips to keep in mind:
- Installation Process: An important thing to understand when adopting solar energy is the installation process itself. Be sure to clarify any details you should know with your solar company, such as what permits you should acquire and what the project timeline is.
- Warranty: A quality company rises above other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Contract: It’s important to look over your solar installer’s contract closely to understand what services they will provide, what the warranty covers and what you can expect about the installation process.
- Solar Panel Brands: The kind of solar panel you want to get plays a part in which company you should go with, since different companies offer different panels.
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 Lindstrom, MN Solar Cost FAQs
What is the average cost of installing solar panels in Lindstrom?
The average cost of solar panels in Lindstrom is about $20,150 for a 5-kW system and $40,300 for a 10-kW system before the ITC, but the actual cost will depend on certain factors like the model of solar panels you want, what size system you need and how much energy you use.
Is cost the most important consideration when buying solar panels?
The upfront cost is a crucial factor to consider, but whether it’s the most important for you depends on why you decided to go solar. In areas where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to keep in mind are the quality and durability of your solar panels.
Can solar panels significantly reduce my energy bills?
It is possible to eradicate your electricity bills with solar panels, but for most homeowners in Lindstrom, that will require at least a 10-kW system. Not all homes will have roofs that can accommodate that size system, so you’ll want to check with a local solar installer to see how many panels can fit on your roof.
How often do you have to replace solar panels?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher amount of energy production.
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.