Solar Panel Cost Guide in Lino Lakes, MN (Mar 2023)
- Lino Lakes Solar Installation Cost: $14,274
- 25-Year Savings: $22,058
- Payback Period: 9.8 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Lino Lakes
Find out what the average cost of a solar system is in Lino Lakes.
In Lino Lakes, solar panels cost about 2.84 per watt on average. Since a 7.2-kW system is needed to cover the energy costs of a typical home in Lino Lakes, the average price of going solar will be about $14,274 after claiming the federal solar tax credit of 30%.
The actual price you pay can go higher or lower than the average in Lino Lakes depending on several factors, such as the brand of solar panels you choose and the solar company you hire. For most homeowners, the upfront investment in solar is worth paying. On average homeowners in Lino Lakes see about $19,000 in savings on utility bills over 20 years.
You can click the button below to get connected with a vetted solar company in Lino Lakes for a quote for your home.
Solar savings over time in Lino Lakes
| Year | Return on Investment |
|---|---|
| 1 years | $-12,821 |
| 3 years | $-9,914 |
| 5 years | $-7,007 |
| 7 years | $-4,101 |
| 9 years | $-1,194 |
| 11 years | $1,712 |
| 13 years | $4,619 |
| 15 years | $7,525 |
| 17 years | $10,432 |
| 19 years | $13,338 |
| 21 years | $16,245 |
| 23 years | $19,151 |
| 25 years | $22,058 |
Top Solar Installers in Lino Lakes
Trying to install solar panels by yourself can be a challenging project, which is why using a solar installation company is a good option for many homeowners. A solar company can also help save you money in the long run by offering warranties, repairs and part replacements.
Working with a vetted solar company 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
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
See all of the solar companies in Lino Lakes
Factors that Affect Solar Panel Costs in Lino Lakes
Although the average cost of a solar system in Lino Lakes is $14,274, your actual cost may be higher or lower than that. There are many factors that can have a sizable impact on the cost of a residential solar panel installation. Below are some of the more important things to keep in mind.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more energy your household consumes, the larger your system will likely need to be. You can expect to spend about $2,840 per kilowatt in Lino Lakes. Some solar panel brands — like Maxeon from SunPower — are more costly upfront but also tend to offer better efficiency. In a city like Lino Lakes, where sunlight isn't as abundant, efficiency can quickly pay off. Plus, if you have a small roof or you don't have a lot of space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be a challenge. Solar loans are provided by most installers in Lino Lakes, which can reduce, or in some cases eliminate, your upfront costs to make solar more affordable. However, the interest on solar loans also adds to your all-in costs, so it's crucial to include that in your estimate as well. You can always lower the total you pay in interest and possibly even your APR by making a larger down payment.
Solar Panel Installation Company
The final major cost factor you should take into consideration is the installer you choose. Given the growing popularity of sustainable energy solutions in Lino Lakes, you'll have lots of options to choose from, but each comes at various price points for labor and equipment. Additionally, some companies in Lino Lakes know more about local solar incentives and can help you learn about additional rebates or tax exemptions. Though, they may charge more for walking you through the whole process. Even if they cost more upfront, they could help you save more money in the long run.
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 | $17,961 | 10.2 years |
| 8 kW | $2.90 | $16,222 | $24,266 | 10.0 years |
| 10 kW | $2.84 | $19,880 | $30,730 | 9.8 years |
| 12 kW | $2.78 | $23,379 | $37,353 | 9.6 years |
| 14 kW | $2.73 | $26,719 | $44,135 | 9.4 years |
| 16 kW | $2.67 | $29,900 | $51,076 | 9.2 years |
| 18 kW | $2.61 | $32,921 | $58,177 | 9.0 years |
| 20 kW | $2.56 | $35,784 | $65,436 | 8.8 years |
How to Save on Solar Panels
The solar company you choose will affect not only your overall costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are some important things you should take into account, such as:
- Reputation: Make sure your solar installer has a good reputation by confirming it has certifications and licenses, checking how long it's been in business and reading reviews by previous customers and solar experts like the EcoWatch team.
- Installation Process: An important thing to understand when going solar is the installation process itself. Be sure to align on any details you need to know with your solar company, such as what permits you should secure and what the project timeline is.
- Contract: It's important to read through your solar installer's contract thoroughly to understand what services they will provide, what the warranty covers and what expectations you should have about the project timeline.
- Solar Panel Brands: Not all solar installers have the same brands of solar panels, so the brand and type of panel you want can play a large role in the company you hire.
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
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
EcoWatch's Lino Lakes, MN Solar Cost FAQs
How much does it cost to install solar panels in Lino Lakes?
The average cost of solar panels in Lino Lakes 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 stuff such as the type of solar panels you want, what size system you need and how much energy you consume.
What other factors should I consider in addition to cost when buying solar panels?
The upfront cost is a crucial factor to consider, but whether it's the most important for you depends on your reasons for going solar. In cities where rooftop space is limited, efficiency can trump the cost. Other factors that are important to consider are the quality and durability of your solar panels.
How much can I save on electricity bills after installing solar panels?
Solar panels can potentially eliminate your electricity bills depending on where you're located and how much sunlight your home gets. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $1,012.20 per year.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy consumption and the average daily sunlight your roof gets. You can take a look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to get between 20 and 35 panels to cover their typical energy usage.
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.