Solar Panel Cost Guide in Mahtomedi, MN (2024 Update)
- Mahtomedi Solar Installation Cost: $20,370
- 25-Year Savings: $21,431
- Payback Period: 14.2 Years
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Average Cost of Solar Panels in Mahtomedi
We go over average solar pricing in Mahtomedi.
In Mahtomedi, solar panels cost about 4 per watt on average.The average solar panel system size in Mahtomedi is around 7.2 kilowatts, meaning a cost of about $20,370 for a solar installation, or $29,129 before the 0 federal solar tax credit is applied.
How much you pay can be higher or lower than the average in Mahtomedi depending on several factors, such as the model of solar panels you choose and the solar contractor you hire.For many homeowners, the upfront cost of solar power is worth paying. On average homeowners in Mahtomedi see about $19,000 in savings on electricity bills over 20 years.
For a free quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Mahtomedi
| Year | Return on Investment |
|---|---|
| 1 years | $-19,090 |
| 3 years | $-16,531 |
| 5 years | $-13,973 |
| 7 years | $-11,414 |
| 9 years | $-8,855 |
| 11 years | $-6,296 |
| 13 years | $-3,737 |
| 15 years | $-1,178 |
| 17 years | $1,381 |
| 19 years | $3,940 |
| 21 years | $6,499 |
| 23 years | $9,058 |
| 25 years | $11,616 |
Top Solar Installers in Mahtomedi
Installing solar panels by yourself can be a stressful task, which is why getting a solar installer is a good option for many homeowners. Another advantage of working with a solar installer is that they can help you make the most of your return of investment by cutting back on future costs of repairs and replacements because of warranties and informing you of local incentives you can take advantage of.
If you're on the hunt for a solar installer in Mahtomedi, we've put together a list of our top suggestions here:
See all of the solar companies in Mahtomedi
Factors that Affect Solar Panel Costs in Mahtomedi
Even though the average cost of a solar system in Mahtomedi is $20,370, your final cost may differ. There are several factors that can have a major impact on the cost of a solar panel installation. Below are some of the more important things to take into consideration.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of installing solar panels. That’s why it’s important to accurately assess the size of the solar energy system needed for your home by figuring out your average energy use.Some solar brands — like Maxeon from SunPower — are more costly upfront but also tend to offer higher efficiency. In a city like Mahtomedi, where sunlight isn’t as abundant, efficiency can quickly pay off. In addition, if you have a small roof or you don’t have a lot of space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Mahtomedi to be prohibitively steep, even if the investment pays off over time. Thankfully, almost every solar company in the area provides financing options. Solar loans greatly decrease upfront costs in most cases, but they also result in higher prices over time because of interest.It’s wise to factor 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 remaining significant cost factor you should consider is the installer you choose. Given the growing popularity of sustainable energy solutions in Mahtomedi, you’ll have plenty of options to choose from, but each comes at various price points for labor and equipment.The size of the company can sometimes play the most considerable role in the installation costs. Larger national companies, like SunPro and Sunrun, often have lower pricing due to greater resources and better pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or discount can bring their pricing down to compete with bigger names.
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 | $12,133 | 14.8 years |
| 8 kW | $4.11 | $23,019 | $16,628 | 14.5 years |
| 10 kW | $4.03 | $28,210 | $21,350 | 14.2 years |
| 12 kW | $3.95 | $33,175 | $26,297 | 13.9 years |
| 14 kW | $3.87 | $37,914 | $31,469 | 13.7 years |
| 16 kW | $3.79 | $42,428 | $36,867 | 13.4 years |
| 18 kW | $3.71 | $46,716 | $42,491 | 13.1 years |
| 20 kW | $3.63 | $50,778 | $48,341 | 12.8 years |
How to Save on Solar Panels
Since the model of solar panels and the installer you choose has an impact on your costs and your system’s efficiency, production, and durability, it’s important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- Contract: It’s important to read through your solar installer’s contract fully to understand what services they will provide, what the warranty covers and what expectations you should have about the cost.
- Warranty: Warranties that cover replacement parts and repairs over around 25 years are the gold standard in the business, and offering such a warranty is one indication of a good company.
- Solar Panel Brands: Different companies have different brands and types of panels. If you want a specific brand, make sure the solar panel company you’re considering has it.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for clean energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a solid reputation and is qualified to do the job well. Another way you can verify your installer’s reputation is by reading reviews.
EcoWatch's Mahtomedi, MN Solar Cost FAQs
How much does it cost to install solar panels in Mahtomedi?
The average cost of solar panels in Mahtomedi is about $20,150 for a 5-kW system and $40,300 for a 10-kW system before the ITC, but the real cost will depend on certain factors such as the model of solar panels you want, what size system you need and how much energy you use.
Are solar panels free in Mahtomedi?
You can’t get solar panels for free in Mahtomedi. However, you may still be able to install them on a lower budget. You can lease solar panels for a low upfront cost or, if you want to own your solar panels, you can finance them with a solar loan.
Can solar panels significantly reduce my power bills?
It is possible to erase your electricity bills with solar panels, but for most homeowners in Mahtomedi, 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 long do solar panels last in Mahtomedi?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can choose to replace them after having them for that long or you can continue to use them at a lower efficiency.
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.