Solar Panel Cost Guide in Litchfield, MN (2023 Update)
- Litchfield Solar Installation Cost: $14,127
- 25-Year Savings: $17,142
- Payback Period: 11.3 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated September 15, 2023
Why you can trust EcoWatch
Average Cost of Solar Panels in Litchfield
Let's take a look at the average cost of solar in Litchfield.
Although the national average of solar panels is $2.66 per watt, solar panels in Litchfield generally cost around 2.84. To cover the typical energy needs of the average home in Litchfield, most homeowners require a 7.1-kilowatt system. Using the figure above, a solar installation costs about $14,135, or $20,213 before the federal solar tax credit of 30% is applied.
The true cost of your system can be above or below the average in Litchfield based on a few factors, such as the model of solar panels you choose and the solar installer you hire. But, once you've paid the upfront cost of installation, the ROI for most homeowners is usually rewarding, with a net average savings of about $17,000 over 20 years on power bills.
You can click the button below to get connected with a top solar company in Litchfield for a quote for your home.
Solar savings over time in Litchfield
| Year | Return on Investment |
|---|---|
| 1 years | $-14,022 |
| 3 years | $-13,814 |
| 5 years | $-13,606 |
| 7 years | $-13,397 |
| 9 years | $-13,189 |
| 11 years | $-12,980 |
| 13 years | $-12,772 |
| 15 years | $-12,563 |
| 17 years | $-12,355 |
| 19 years | $-12,146 |
| 21 years | $-11,938 |
| 23 years | $-11,729 |
| 25 years | $-11,521 |
Top Solar Installers in Litchfield
Many homeowners opt for a solar installation company since installing solar panels by yourself can be a labor-intensive endeavor. Companies can also have access to various kinds of the best solar panels and help you decide which one will be right for your home.
If you'd like to start using solar energy but still aren't sure which solar installer to go with, here are our suggestions for providers nearby:
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 Litchfield
Factors that Affect Solar Panel Costs in Litchfield
Cost is often one of the most important factors for homeowners considering investing in solar. There are a few major factors that affect your total cost in Litchfield: 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 electricity your household consumes, the larger your system will likely need to be. You can expect to spend about $2,840 per kilowatt in Litchfield. The kind of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you get the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. On the other hand, more efficient panels could save you more over time on your electric bills. In addition, add-on products, like solar batteries, can bump up your total well above the Litchfield average.
Solar Financing Terms
If paying for a solar system in cash is difficult, solar loans are a solid choice because they cut back your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years. You'll have to consider the long-term cost of financing options, including the total interest you'll pay over the length of the loan. If you're only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the original cost. Making a larger down payment or finding a solar loan with a low interest rate could reduce your costs significantly.
Solar Panel Installation Company
The solar company you pick will play a role in your total cost to adopt solar energy. Different companies will bill different amounts for the equipment and labor. You may see national solar installers that have lower prices due to their bigger brand name and access to bulk equipment prices, or you might see small, local installation companies offering deals or specials to compete with those major players.
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
The solar installer you choose will influence not only your overall costs, but also the types of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are a few important things you should consider, including:
- Solar Panel Brands: Not all solar installers carry the same brands of solar panels, so the brand and type of panel you want can play a substantial role in the company you choose.
- Contract: Before you sign a contract with a solar company, make sure you read it through carefully so you understand the terms. Also, ask questions if you're unsure about some of the terms, such as what to do if a part breaks or malfunctions and what services you can expect from them.
- Reputation: Solar installers that have great reviews from their customers and that have been operating for many years in most cases provide high-quality solar panel installation and expertise.
- Installation Process: Homeowners should make sure they understand how exactly the installation process will be carried out, as well as important factors like the project completion timeline.
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 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 stuff like the type of solar panels you want, what size system you need and how much energy you consume.
Can you get solar panels for free in Litchfield?
A solar panel system isn't free in Litchfield, 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 can help lower the cost.
Do solar panels increase how much your home is worth?
Solar panels can increase the value of your home significantly as long as you buy or finance your panels and don't opt for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing solar panels."
How many solar panels should I get to power my home?
To figure out how many solar panels you need, you should find out how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average home will need 20 to 35 panels.
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.