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
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Average Cost of Solar Panels in Marion
We break down average solar pricing in Marion.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Marion, the typical cost of solar panels is 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.
The prices above are just estimates to give you an idea of the cost of a solar panel system. The exact cost of making the switch to solar can vary depending on multiple factors, such as how many panels you need, your energy usage and what company you go with.Even with the significant initial cost, the average Marion homeowner can save around $20,000 on their power bills over 20 years, which is one of the benefits of solar.
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
Trying to put up solar panels by yourself can be a time-consuming task, which is why hiring a solar installer is a good option for many homeowners. Also, companies with a good reputation that are more expensive upfront could actually save you money in the long run with their warranties, repair services and expert design.
If you’d like to make the switch to solar but still aren’t sure which solar system company to go with, here are our suggestions for providers near you:
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
Though the average cost of a solar system in Marion is $20,342, your final cost may be higher or lower than that. There are quite a few factors that can have a sizable impact on the cost of a residential solar panel installation. Below are some of the more important things to take into consideration.
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 energy your household consumes, the larger your system will likely need to be. You can expect to spend around $4,030 per kilowatt in Marion.Some solar panel brands — like Maxeon from SunPower — are more costly upfront but also tend to offer better efficiency. In a city like Marion, where sunlight isn’t as abundant, efficiency can quickly pay off. Plus, if you have a small roof or limited space for your panels, higher efficiency options will be a better option. 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 Marion to be too steep, even if the investment pays off over time. Thankfully, almost every solar company in the area provides access to financing options. Solar loans drastically decrease upfront costs for most homeowners, but they also lead to a higher cost over time because of interest.Although solar loans make adopting solar energy more accessible for Marion homeowners, they can also add to the total you pay for your system due to interest. If you make a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The solar installer you opt for to handle your switch to green energy can play a role in your total costs. There are about 3 solar installation companies in Marion, and each can charge different amounts for labor and equipment.Some companies only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally cost more. It’s best to do some research and find a company that offers the products, warranties and services you want and also is within your budget.
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
Since the model of solar panels and the company you choose has an impact on your costs and your system’s durability and efficiency, it’s important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- Installation Process: When making the switch to solar, it’s crucial to keep an open line of communication with your solar installer. Confirm that you understand how the installation process will go and the completion timeline.
- Warranty: If you’re concerned about the durability of your solar panel system, checking if your company offers a 25-year, all-inclusive warranty can help put you at ease.
- Solar Panel Brands: Each solar panel brand and kind offers varying levels of quality, durability and energy efficiency. They will come at different costs as well. The company you choose plays a role in which solar panel brands you have access to.
- Reputation: Solar system installers that have great reviews from their customers and that have been operating for many years most likely offer quality solar panel installation and expertise.
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 hard question to answer exactly, because the cost depends on a variety of factors. Broadly speaking, it costs about $20,150 for a 5-kW system and $40,300 for a 10-kW system after the ITC is applied. It will cost more if you want other solar equipment or higher quality panels, or if you have above-average energy needs. On the other hand, you can spend less if you opt for a smaller solar panel system or less efficient solar panels.
Should I lease or buy solar panels in Marion?
Leasing solar panels can be an appealing choice, because it often 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 your home value?
Installing solar panels on your home 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, which means you can expect 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 worthwhile investment.
How often do you have to replace solar panels?
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 decide to replace them after having them for that long or you can keep using 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.