Solar Panel Cost Guide in Maple Grove, MN (2023 Update)
- Maple Grove Solar Installation Cost: $14,314
- 25-Year Savings: $19,942
- Payback Period: 10.4 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Maple Grove
Find out what the average cost of solar panels are in Maple Grove.
The national average cost of solar panels is $2.66 per watt, but in Maple Grove it's 2.84 per watt. The average solar panel system size in Maple Grove is around 7.2 kilowatts, meaning a cost of about $14,314 for a solar installation, or $20,469 before the 30% federal solar tax credit is applied.
The prices above are just estimates to give you an idea of the cost of solar panels. The exact cost of installing solar panels can vary quite a bit depending on several factors, such as what size system you need, your energy usage and what company you go with. But, once you've paid the upfront cost of installation, the return on investment for most homeowners is typically good, with a net average savings of about $18,000 over 20 years on power bills.
To get a free estimate from a highly rated solar installation company in Maple Grove, you can click the button below.
Solar savings over time in Maple Grove
| Year | Return on Investment |
|---|---|
| 1 years | $-12,943 |
| 3 years | $-10,203 |
| 5 years | $-7,462 |
| 7 years | $-4,722 |
| 9 years | $-1,982 |
| 11 years | $759 |
| 13 years | $3,499 |
| 15 years | $6,240 |
| 17 years | $8,980 |
| 19 years | $11,721 |
| 21 years | $14,461 |
| 23 years | $17,201 |
| 25 years | $19,942 |
Top Solar Installers in Maple Grove
Many homeowners opt for a solar installer since trying to install solar panels by yourself can be hard. Companies can also have access to a large variety of the best solar panels and help you pick which one will be right for your home.
You can get a free estimate from a local solar installer on the cost of solar panels for your home. Here are some in Maple Grove:
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 Maple Grove
Factors that Affect Solar Panel Costs in Maple Grove
Although the average cost of a solar system in Maple Grove is $14,314, your actual cost may differ. There are quite a few factors that can have a sizable impact on the cost of a solar panel installation. Below are some of the more crucial things to consider.
Solar Equipment
One of the most important 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 electricity your household consumes, the larger your system will likely need to be. You can expect to spend about $2,840 per kilowatt in Maple Grove. The type of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you choose 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 power bills. Additionally, extra products, like solar batteries, can bring your total well above the Maple Grove average.
Solar Financing Terms
Many homeowners find the average cost of solar in Maple Grove to be too costly, even if the investment pays off over time. Thankfully, nearly every solar company in the area provides access to financing options. Solar loans substantially decrease upfront costs for most homeowners, but they also result in paying more over time due to interest. While solar loans make switching to solar energy more accessible for Maple Grove homeowners, they can also raise the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you make a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The solar installer you go with to handle your switch to renewable energy can have an effect on your total costs. There are about 3 solar panel companies in Maple Grove, and each can charge different amounts for labor and equipment. Larger national companies generally 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 | $16,134 | 10.9 years |
| 8 kW | $2.90 | $16,222 | $21,830 | 10.7 years |
| 10 kW | $2.84 | $19,880 | $27,685 | 10.4 years |
| 12 kW | $2.78 | $23,379 | $33,699 | 10.2 years |
| 14 kW | $2.73 | $26,719 | $39,872 | 10.0 years |
| 16 kW | $2.67 | $29,900 | $46,204 | 9.8 years |
| 18 kW | $2.61 | $32,921 | $52,695 | 9.6 years |
| 20 kW | $2.56 | $35,784 | $59,346 | 9.4 years |
How to Save on Solar Panels
The solar company you opt for will be a major factor in determining not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are some important things you should take into account, such as:
- 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 likely has a good reputation and is qualified to do the job well. Another way you can look into your installer's reputation is by reading reviews.
- Installation Process: One of the most important things to understand when going solar is the installation process itself. Be sure to align on any details you should know with your solar company, such as what permits you should secure and what the project timeline is.
- Contract: When reading through your solar installer's contract, ask questions about any terms you're not sure of and be sure you understand what happens in scenarios such as a system part breaking or if the company goes out of business.
- Solar Panel Brands: Different companies will carry various brands and kinds of panels. If you want a specific brand, make sure the solar company you're considering has it.
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 Maple Grove, MN Solar Cost FAQs
What is the average cost of installing solar panels in Maple Grove?
This is a hard question to answer exactly, because the cost depends on a variety of factors. Broadly speaking, it costs about $14,200 for a 5-kW system and $28,400 for a 10-kW system after the ITC is applied. You can expect to pay more if you want additional solar equipment or higher quality panels, or if you have above-average energy needs. Conversely, you can spend less if you go with a smaller solar panel system or cheaper solar panels.
Should I lease or buy solar panels in Maple Grove?
Leasing solar panels can be an attractive choice, as it commonly comes with low or $0 upfront payments. The drawback is that you won't be able to save as much. If you lease, you don't own the system, so you can't claim any incentives and your home value won't increase. Buying solar panels is a better option if you want to get the most savings.
Do solar panels increase how much your home is worth?
Solar panels can increase the value of your home remarkably as long as you buy or finance your panels and don't go for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% with a solar installation."
How long do solar panels last in Maple Grove?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher amount of energy production.
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.