Solar Panel Cost Guide in Minneapolis, MN (Dec 2022)

  • Minneapolis Solar Installation Cost: $14,314
  • 25-Year Savings: $21,285
  • Payback Period: 10.1 Years

See cost of a solar system near you:

EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 11/09/2022

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Average Cost of Solar Panels in Minneapolis

Find out what the average cost of solar panel installation is in Minneapolis.

While the national average of solar panels is $2.66 per watt, solar panels in Minneapolis typically cost around $3. The average solar panel system size in Minneapolis is around 7.2 kilowatts, meaning a cost of about $14,314 for a solar installation, or $10,592 after the 30% federal solar tax credit is applied.

The prices above are just estimates to give you an idea of the cost of a solar energy system. The exact cost of installing solar panels can vary quite a bit depending on several factors, such as how many panels you need, your energy usage and what solar installer you go with. Even with the significant initial cost, the average Minneapolis homeowner can save around $19,000 on their electricity bills over 20 years, which is one of the positives of solar.

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

Solar savings over time in Minneapolis

Year Return on Investment
1 years $-12,890
3 years $-10,042
5 years $-7,194
7 years $-4,346
9 years $-1,498
11 years $1,350
13 years $4,197
15 years $7,045
17 years $9,893
19 years $12,741
21 years $15,589
23 years $18,437
25 years $21,285

Top Solar Installers in Minneapolis

DIY solar panel installation is a way to cut costs, but it's an undertaking that can take a lot of hard work. Using a solar panel installer can make converting to solar power much easier. The expertise that solar companies provide can be invaluable as well, especially if you aren't sure what brand of solar equipment you need.

If you'd like to switch to solar energy but still aren't sure which solar installer to go with, here are our suggestions for providers in Minneapolis:

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 Technology

Tesla Energy

★★★★★
4.5

  • 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

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

See all of the solar companies in Minneapolis

Factors that Affect Solar Panel Costs in Minneapolis

For many Minneapolis homeowners, the decision to install a solar energy system rests on cost. However, the range of solar installation costs can be quite wide in Minneapolis, with typical prices between $20,000 to $40,000. There are various factors that significantly influence the price you'll pay, which we'll go over below.

Solar Equipment

The size of the solar panel system you need to offset your energy usage is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by around $2,840. The brand and kind of equipment you want for your solar system can raise or lower the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these are often more expensive than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have a small roof or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to greater savings over time. Also, if you want add-ons like an electric vehicle charger or solar batteries, this will also raise the cost.

Solar Financing Terms

Most solar installers in Minneapolis have solar loans, which reduce your upfront costs of installing solar panels. Although solar loans make adopting solar energy more accessible for Minneapolis homeowners, they can also add to the total you pay for your system, depending on your interest rate. If you make 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 hire to install your solar panels can play a part in determining how much it costs. Minneapolis' solar companies all have different labor costs and add varying upcharges to equipment. Larger national companies usually have lower costs, but some local companies keep up with them by promoting sales and discounts. While the smaller companies might not have 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 $17,252 10.5 years
8 kW $2.90 $16,222 $23,321 10.3 years
10 kW $2.84 $19,880 $29,549 10.1 years
12 kW $2.78 $23,379 $35,936 9.9 years
14 kW $2.73 $26,719 $42,482 9.7 years
16 kW $2.67 $29,900 $49,187 9.5 years
18 kW $2.61 $32,921 $56,051 9.3 years
20 kW $2.56 $35,784 $63,074 9.0 years

How to Save on Solar Panels

Since the kind of solar panels and the installation company you choose has an impact on your costs and your system's durability and efficiency, it's important to select the right ones for you. Here are some tips to keep in mind to help with your decision:

  • Solar Panel Brands: The type of solar panel you need to install plays a role in which company you should opt for, since different companies have different panels.
  • Reputation: Solar system installers that have great reviews from their customers and that have been operating for many years likely offer quality solar panel installation and expertise.
  • Contract: Before signing a contract with a solar installer, make sure you look it over fully so you understand the terms. Also, ask questions if you're not sure about some of the terms, such as what the warranty covers and what services you can expect from them.
  • Warranty: If you're worried about the endurance of your solar system, verifying your installer offers a 25-year, all-inclusive warranty can help put you at ease.

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 Technology

Tesla Energy

★★★★★
4.5

  • 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

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

EcoWatch's Minneapolis, MN Solar Cost FAQs

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

This is a tough question to answer precisely, because the cost depends on many 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 extra solar equipment or more efficient panels, or if you have above-average energy consumption. On the flip side, you can spend less if you choose a smaller solar panel system or cheaper solar panels.

Are solar panels free in Minneapolis?

You can't get solar panels for free in Minneapolis. However, you may still be able to get them on a lower budget. You can lease solar panels for a low upfront cost or, if you'd rather own your solar panels, you can finance them with a solar loan.

Is it worth going solar in Minneapolis?

Whether or not solar panels are worth it depends on some different factors like local electricity rates and the amount of direct sunlight your roof gets.

What solar power system size is right for my home?

To figure out what solar panel system size you need, you should find out how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can typically produce about 250 to 400 watt-hours per hour, the average home will need 20 to 35 panels.

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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