Solar Panel Cost Guide in Litchfield, MN (2023 Update)
- Litchfield Solar Installation Cost: $14,135
- 25-Year Savings: $17,134
- Payback Period: 11.3 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Litchfield
Find out what the average cost of solar panels are in Litchfield.
The average cost of solar panels in Litchfield is 2.84 per watt. To cover the typical energy needs of the average home in Litchfield, most homeowners require a 7.1-kilowatt system. Using the per-watt figure above, a solar installation costs about $14,135, or $20,213 before the federal solar tax credit of 30% is applied.
These figures are only estimates, and the cost of going solar for you will look different based on your energy needs and what company you go with. But, after you've paid the initial cost of installation, the return on investment for most homeowners is usually fruitful, with a net average savings of about $17,000 over 20 years on electricity bills.
For a personalized quote from a local solar installer that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Litchfield
| Year | Return on Investment |
|---|---|
| 1 years | $-12,884 |
| 3 years | $-10,382 |
| 5 years | $-7,881 |
| 7 years | $-5,380 |
| 9 years | $-2,878 |
| 11 years | $-377 |
| 13 years | $2,125 |
| 15 years | $4,626 |
| 17 years | $7,128 |
| 19 years | $9,629 |
| 21 years | $12,131 |
| 23 years | $14,632 |
| 25 years | $17,134 |
Top Solar Installers in Litchfield
Although you can install solar panels by yourself, it requires extra time and handiness. For that reason, most people choose to hire a solar panel installer. Companies can also provide access to quality options of the best solar panels and help you choose which one will be right for your family.
If you're searching for a solar installer in Litchfield, we've compiled a list of our top suggestions here:
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 Litchfield
Factors that Affect Solar Panel Costs in Litchfield
Though the average cost of a solar system in Litchfield is $14,135, your actual cost may be higher or lower than that. There are several factors that can have a major impact on the cost of a residential solar panel installation. Below are some of the more important things to take into consideration.
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 power your household consumes, the larger your system will likely need to be. You can expect to spend around $2,840 per kilowatt in Litchfield. The brand and kind of equipment you choose for your solar system can raise or lower 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 extra equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Litchfield to be too steep, even if the investment pays off over time. Thankfully, nearly every solar company in the area provides financing options. Solar loans remarkably decrease upfront costs in most cases, but they also lead to higher prices over time because of interest. It's a good idea to add the interest you'll pay in your final cost estimate. If you can afford to pay a larger down payment, you can reduce your total costs and how long it'll take to pay back the loan.
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 panel companies in Litchfield, and each can charge different amounts for labor and equipment. Larger national companies usually have lower costs, but some local companies keep up with them by promoting sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or additional services like electric car charger installation, they might be cheaper overall.
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 | $13,996 | 11.7 years |
| 8 kW | $2.90 | $16,222 | $18,980 | 11.5 years |
| 10 kW | $2.84 | $19,880 | $24,122 | 11.3 years |
| 12 kW | $2.78 | $23,379 | $29,424 | 11.1 years |
| 14 kW | $2.73 | $26,719 | $34,885 | 10.8 years |
| 16 kW | $2.67 | $29,900 | $40,504 | 10.6 years |
| 18 kW | $2.61 | $32,921 | $46,283 | 10.4 years |
| 20 kW | $2.56 | $35,784 | $52,221 | 10.2 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 brands and price points. To help you pick the right company for you, here are some tips to keep in mind:
- Solar Panel Brands: The model of solar panel you want to install plays a role in which installer you should opt for, since different companies offer different panels.
- Installation Process: An important thing to understand when going solar is the installation process itself. Be sure to align on any details you should know with your solar installer, such as what permits you should secure and what the project timeline is.
- Reputation: Companies that have been operating for many years likely have a good reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide adequate aftercare and customer support, such as part repairs and replacements.
- Contract: Read the contract terms carefully to make sure you understand the cost breakdown, project completion timeline rebates and warranties.
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 Litchfield, MN Solar Cost FAQs
What is the average cost of installing solar panels in Litchfield?
The average cost of solar panels in Litchfield 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 like the kind of solar panels you want, what size system you need and how much energy you consume.
Is cost the most important thing to think about when buying solar panels?
Cost is a key 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 be more important than the cost. Other factors that are important to think about are the quality and durability of your solar panels.
Does Litchfield have a net metering program?
The majority of states have net metering programs of some kind. Through these, you can receive compensation for the extra power your system produces or or receive credits to put toward future electricity bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.
How many solar panels do I need to power my home?
The exact number of solar panels you need depends on your household energy needs 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 install 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.