Solar Panel Cost Guide in Lino Lakes, MN (2023 Update)
- Lino Lakes Solar Installation Cost: $14,271
- 25-Year Savings: $22,061
- Payback Period: 9.8 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Lino Lakes
Let's take a look at the average cost of solar panels in Lino Lakes.
In Lino Lakes, solar panels cost about 2.84 per watt on average. To cover the typical energy needs of the average home in Lino Lakes, most homeowners require a 7.2-kilowatt system. Using the per-watt figure above, a solar installation costs about $14,274, or $20,412 before the federal solar tax credit of 30% is applied.
Bear in mind that the figures above are only estimates based on the average Lino Lakes homeowner. The price of a solar system for your home may look different depending on factors unique to you, like your household energy use and solar contractor. For many homeowners, the upfront investment in solar power is worth paying. On average homeowners in Lino Lakes see about $19,000 in savings on energy bills over 20 years.
You can click the button below to get connected with a pre-vetted solar installer in Lino Lakes that can help you get a more accurate cost estimate for your home.
Solar savings over time in Lino Lakes
| Year | Return on Investment |
|---|---|
| 1 years | $-14,150 |
| 3 years | $-13,908 |
| 5 years | $-13,666 |
| 7 years | $-13,424 |
| 9 years | $-13,181 |
| 11 years | $-12,939 |
| 13 years | $-12,697 |
| 15 years | $-12,455 |
| 17 years | $-12,212 |
| 19 years | $-11,970 |
| 21 years | $-11,728 |
| 23 years | $-11,486 |
| 25 years | $-11,244 |
Top Solar Installers in Lino Lakes
Installing solar panels by yourself can be a difficult undertaking, which is why using a solar installer is a good option for many homeowners. Companies can also provide access to quality options of the best solar panels and help you choose which one will be right for your home.
Working with a vetted solar installer can help your solar project go smoothly. Here are our recommendations:
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 Lino Lakes
Factors that Affect Solar Panel Costs in Lino Lakes
Cost is often one of the most important factors for homeowners wanting to invest in solar. There are a few key factors that will push your cost above or below the average in Lino Lakes: solar equipment and system size, financing options and the solar installation company you choose. We'll cover each of these briefly below.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of going solar. Because of that, it's important to accurately assess the size of the solar energy system needed for your home by figuring out your typical energy use. There are a lot of different solar panel brands and the one you choose also affects the cost. In general, the brands that have better efficiency tend to also be more expensive. In addition, the type of equipment you're looking to get can affect your total cost. If you just need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Solar panels can save you money on power bills over many years, but they can also be a significant investment. That's why many Lino Lakes homeowners opt to finance their solar panel systems to make going solar more affordable. It's wise to factor the interest you'll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and how long it'll take to pay back the loan.
Solar Panel Installation Company
A final factor to keep in mind when trying to estimate the cost of solar for your home or business in Lino Lakes is the company you get to install your solar panel system. Similar to choosing a company to renovate your kitchen, for instance, you'll have many options for solar installers that provide a range of services at different price points. Some companies only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come at a higher cost. It's best to do some research and choose a company that provides the products, warranties and services you want and also fits 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 | $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
There are a lot of companies to choose from in Lino Lakes, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be tough, so here are some tips to help you decide:
- Installation Process: Homeowners should understand how exactly the installation process will be carried out, as well as important factors like the completion timeline.
- Solar Panel Brands: The type of solar panel you want to get plays a part in which company you should choose, since different companies have different panels.
- Contract: It's important to look over 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 installation process.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for sustainable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a good reputation and is qualified to do the job well. Another way you can verify your installer's reputation is by reading reviews.
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 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 real cost will depend on certain factors like the type of solar panels you want, what size system you need and how much energy you use.
What other factors should I consider in addition to cost when buying solar panels?
The initial cost is a very important factor to consider, but whether it's the most important for you depends on your goals for going solar. In areas where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to take into account are the quality and durability of your solar panels.
Can you sell solar power back to the grid in Lino Lakes?
Most states have net metering programs of some kind. Through these, you can either be compensated 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.
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 how much sunlight your roof gets. You can 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.