Solar Panel Cost Guide in Marion, MN (2023 Update)
- Marion Solar Installation Cost: $14,333
- 25-Year Savings: $22,989
- Payback Period: 9.6 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Marion
We go over average solar pricing in Marion.
The average cost of a solar system in Marion is 2.84 per watt. Using this figure, a typical 7.2-kW system would cost about $14,333 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 actual cost of making the switch to solar can vary depending on several factors, such as what size system you need, your energy consumption and what installation company you go with. Despite the large upfront cost, the average Marion homeowner can save about $20,000 on their energy bills over 20 years, which is one of the benefits of solar.
To calculate your potential savings and connect with a local solar installer, click the button below.
Solar savings over time in Marion
| Year | Return on Investment |
|---|---|
| 1 years | $-12,841 |
| 3 years | $-9,855 |
| 5 years | $-6,869 |
| 7 years | $-3,883 |
| 9 years | $-898 |
| 11 years | $2,088 |
| 13 years | $5,074 |
| 15 years | $8,060 |
| 17 years | $11,045 |
| 19 years | $14,031 |
| 21 years | $17,017 |
| 23 years | $20,003 |
| 25 years | $22,989 |
Top Solar Installers in Marion
When making the switch to solar, many homeowners choose to go with a solar installation company since installing solar panels yourself can be a time-consuming project. Some solar companies, particularly local ones, can help you better understand incentives in Marion, therefore optimizing your ROI.
If you'd like to start using solar energy but still aren't sure which solar panel installer to go with, here are our suggestions for providers in Marion:
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 Marion
Factors that Affect Solar Panel Costs in Marion
There are many factors that can influence your installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that does the installation.
Solar Equipment
When it comes to estimating the price of solar panels in Marion, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home's energy usage, which you can gauge by looking at past power bills. Your overall cost can increase by around $2,840 for each additional kilowatt you need. There are several different solar panel brands and the one you choose also affects the cost. Generally speaking, the brands that are more efficient tend to also cost more. In addition, the type of equipment you're looking to install can affect your total cost. If you only need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be difficult. Solar loans are offered by most installers in Marion, which can lower, or in some cases eliminate, your upfront costs to make solar more affordable. It's wise to add the interest you'll pay in your final cost estimate. If you can afford to pay a higher down payment, you can reduce your total costs and the amount of time it'll take to pay back the loan.
Solar Panel Installation Company
The last key cost factor you should keep in mind is the installer you choose. Given the growing popularity of clean energy solutions in Marion, you'll have plenty of options to choose from, but each comes at varying price points for labor and equipment. Additionally, some companies in Marion have more knowledge about local solar incentives and can help you make good use of additional rebates or tax exemptions. However, they may charge more for walking you through the whole process. Even if they cost more upfront, they could end up saving you more money in the long run.
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 | $18,649 | 10.0 years |
| 8 kW | $2.90 | $16,222 | $25,184 | 9.8 years |
| 10 kW | $2.84 | $19,880 | $31,877 | 9.6 years |
| 12 kW | $2.78 | $23,379 | $38,730 | 9.4 years |
| 14 kW | $2.73 | $26,719 | $45,741 | 9.2 years |
| 16 kW | $2.67 | $29,900 | $52,912 | 9.0 years |
| 18 kW | $2.61 | $32,921 | $60,242 | 8.8 years |
| 20 kW | $2.56 | $35,784 | $67,731 | 8.6 years |
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because picking a company can be a challenge, we have some tips to help you, such as:
- Reputation: Companies that have been in business for many years likely have a high reputation. This is important because it ensures that it will not only see your solar project through, but will also provide quality aftercare and customer support, such as part repairs and replacements.
- Solar Panel Brands: Not all solar companies have the same brands of solar panels, so the brand and type of panel you want can play a significant role in the company you opt for.
- Warranty: Companies typically offer different kinds of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Contract: Before signing a contract with a solar company, make sure you read it through fully so you understand the terms. Also, ask questions if you aren't sure about some of the terms, such as what the warranty covers and what services you can expect from them.
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 Marion, MN Solar Cost FAQs
What is the average cost of installing solar panels in Marion?
This is a difficult question to answer precisely, because the cost depends on many factors. Generally speaking, it costs about $14,200 for a 5-kW system and $28,400 for a 10-kW system after the ITC is applied. It will cost more if you want extra solar equipment or more efficient panels, or if you have higher-than-average energy consumption. Conversely, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.
Can you get solar panels for free in Marion?
Solar panels aren't free in Marion, but there are some options that can make getting them more viable, 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 the value of your home?
Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Marion is currently $173,182, which means you can expect a value of about $7,100 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Marion is a worthwhile investment.
How long do solar panels last in Marion?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger 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.