Solar Panel Cost Guide in Marion, MN (2024 Update)

  • Marion Solar Installation Cost: $20,342
  • 25-Year Savings: $22,987
  • Payback Period: 13.6 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated February 03, 2024

Why you can trust EcoWatch

We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Marion

We break down average solar pricing in Marion.

The national average cost of solar panels is $2.66 per watt, but in Marion it’s 4 per watt.The average Marion homeowner needs a 7.2-kilowatt system, which would cost about $20,342 with the federal tax credit, or $29,089 before the 0 tax credit is applied.

These figures are only averages, and how much solar costs for you will most likely differ based on the amount of energy your home requires and what company you want to go with.With typical savings of about $20,000 on utility bills over 20 years, many homeowners in Marion find going solar has a decent ROI.

You can click the button below to get connected with a top solar company in Marion for a quote for your home.

Solar savings over time in Marion

Year Return on Investment
1 years $-18,967
3 years $-16,216
5 years $-13,465
7 years $-10,714
9 years $-7,963
11 years $-5,213
13 years $-2,462
15 years $289
17 years $3,040
19 years $5,791
21 years $8,541
23 years $11,292
25 years $14,043

Top Solar Installers in Marion

Many homeowners choose to hire a solar installer since installing solar panels yourself can be time-consuming. The expertise that solar installers provide can be invaluable as well, particularly if you don’t quite know what kind of solar equipment would be right for your home.

You can get a free quote from a local solar installer on how much solar panels could cost for your home. Here are some near you:

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Social Impact

Palmetto Solar

★★★★★
4.0

  • Expansive service area
  • Makes charitable contributions
  • Certified B Corp
  • No leases or PPAs
  • Quality of installation may vary by location

Best Technology

Tesla Energy

★★★★★
3.2

  • 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

Though the average cost of a solar system in Marion is $20,342, your actual cost may be higher or lower than that. There are many factors that can have a significant impact on the cost of a residential solar panel installation. Below are some of the more crucial things to consider.

Solar Equipment

The cost of solar panel systems varies by thousands of dollars due to a few different factors. One of the notable factors is the system size, which is measured in kilowatts (kW). Solar power systems with higher efficiency or power generation require better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $4,030.There are a lot of different solar panel brands and the one you choose also affects the cost. In many cases, the brands that offer higher efficiency tend to also cost more. Additionally, the type of equipment you choose can affect your total cost. If you just need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.

Solar Financing Terms

If paying for a solar system out of pocket is out of reach, solar loans are an affordable option because they lower your upfront costs and let you pay for your system over five to seven years on average.While solar loans make switching to solar energy more accessible for Marion homeowners, they can also raise the total you pay for your system, depending on your interest rate. If you put down a larger down payment, though, you can cut back on how much interest you have to pay.

Solar Panel Installation Company

Lastly, the company you choose to install your solar panel system can impact how much it costs. Marion’s solar companies all have different labor costs and add varying upcharges to equipment. The company’s size sometimes plays the most considerable role in the cost. Larger national companies, like SunPro and Sunrun, often have lower prices because they have more 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 promotion can bring their pricing lower to compete with bigger companies.

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 $13,451 14.2 years
8 kW $4.11 $23,019 $18,386 13.9 years
10 kW $4.03 $28,210 $23,547 13.6 years
12 kW $3.95 $33,175 $28,934 13.4 years
14 kW $3.87 $37,914 $34,546 13.1 years
16 kW $3.79 $42,428 $40,384 12.8 years
18 kW $3.71 $46,716 $46,447 12.5 years
20 kW $3.63 $50,778 $52,737 12.3 years

How to Save on Solar Panels

The company that does your solar panel installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Since selecting a company can be a challenge, we have some tips to help you, such as:

  • Installation Process: When making the switch to solar power, it’s crucial to keep an open line of communication with your solar panel installer. See to it that you understand how the installation process will go and the project timeline.
  • Warranty: A comprehensive, long-term warranty can help keep your solar panels running for years to come and save you money on repairs and maintenance.
  • Solar Panel Brands: Different companies have various brands and kinds of panels. If you know you want a specific brand, make sure the solar installer you’re considering has it.
  • Reputation: Solar companies that have great reviews from their customers and that have been operating for many years likely offer high-quality solar panel installation and expertise.

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Social Impact

Palmetto Solar

★★★★★
4.0

  • Expansive service area
  • Makes charitable contributions
  • Certified B Corp
  • No leases or PPAs
  • Quality of installation may vary by location

Best Technology

Tesla Energy

★★★★★
3.2

  • 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

How much does it cost to install solar panels in Marion?

The average cost of solar panels in Marion is about $20,150 for a 5-kW system and $40,300 for a 10-kW system before the ITC, but the actual cost will depend on stuff such as the type of solar panels you want, what size system you need and how much energy you use.

Should I lease or buy solar panels in Marion?

Leasing solar panels can be an appealing choice, because it commonly comes with low or $0 upfront payments. The downside 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 way to go if you want to get the most savings.

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 $326,707, so you could be looking at a value of about $13,395 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Marion is a rewarding investment.

How long do solar panels last in Marion?

Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is how much energy they produce will have decreased significantly after that point. You can 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.

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