Solar Panel Cost Guide in Minnetonka, MN (2025 Update)
- Minnetonka Solar Installation Cost: $20,316
- 25-Year Savings: $20,551
- Payback Period: 14.6 Years
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Average Cost of Solar Panels in Minnetonka
We break down average solar pricing in Minnetonka.
The national average cost of solar panels is $2.66 per watt, but in Minnetonka it’s 4 per watt.The average solar panel system size in Minnetonka is around 7.2 kilowatts, meaning a cost of about $20,316 for a solar installation, or $29,052 before the 0 federal solar tax credit is applied.
These figures are just estimates, and your own solar costs will look different based on factors unique to your home and what company you want to go with.With average savings of about $18,000 on electricity bills over 20 years, many homeowners in Minnetonka find investing in solar can be quite rewarding.
For a free quote from a local solar installer that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Minnetonka
| Year | Return on Investment |
|---|---|
| 1 years | $-19,037 |
| 3 years | $-16,478 |
| 5 years | $-13,919 |
| 7 years | $-11,360 |
| 9 years | $-8,801 |
| 11 years | $-6,242 |
| 13 years | $-3,684 |
| 15 years | $-1,125 |
| 17 years | $1,434 |
| 19 years | $3,993 |
| 21 years | $6,552 |
| 23 years | $9,111 |
| 25 years | $11,670 |
Top Solar Installers in Minnetonka
Although it's possible to install solar panels on your own, it involves extra effort and knowledge. Because of that, most people choose a solar panel installer. A solar installer can also help save you money over time by offering warranties, repairs and part replacements.
You can work with a local solar installer to get a free estimate on how much solar panels could cost for your home. Here are some in Minnetonka:
See all of the solar companies in Minnetonka
Factors that Affect Solar Panel Costs in Minnetonka
Cost is usually one of the most important factors for homeowners wanting to invest in solar. There are a few primary factors that will push your cost above or below the average in Minnetonka: solar equipment and system size, financing options and the solar installation company you choose. We’ll go over each of these briefly below.
Solar Equipment
When it comes to estimating the cost of solar panels in Minnetonka, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are mainly based on your home’s energy usage, which you can gauge by looking at past energy bills. Your total cost can increase by about $4,030 for each additional kilowatt you need.There are many different solar panel brands and the one you pick also changes the cost. In many cases, the brands that offer higher efficiency tend to also cost more. Additionally, the type of equipment you want 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 a solar system out of pocket can be financially overwhelming. Solar loans are available from most installers in Minnetonka, which can bring down, or in some cases completely eliminate, your upfront costs to make solar more accessible.It’s a good idea to factor the interest you’ll pay in your final cost estimate. If you can afford to pay a larger down payment, you can reduce your total costs and how long it’ll take to pay back the loan.
Solar Panel Installation Company
The solar installer you opt for to handle your switch to clean energy can play a part in your total costs. There are about 3 solar panel companies in Minnetonka, and each can charge varying amounts for labor and equipment.Larger national companies usually have lower costs, but some local companies compete with them by promoting sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or extra 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 | $4.19 | $17,603 | $11,446 | 15.1 years |
| 8 kW | $4.11 | $23,019 | $15,712 | 14.9 years |
| 10 kW | $4.03 | $28,210 | $20,205 | 14.6 years |
| 12 kW | $3.95 | $33,175 | $24,923 | 14.3 years |
| 14 kW | $3.87 | $37,914 | $29,866 | 14.0 years |
| 16 kW | $3.79 | $42,428 | $35,036 | 13.7 years |
| 18 kW | $3.71 | $46,716 | $40,431 | 13.4 years |
| 20 kW | $3.63 | $50,778 | $46,052 | 13.1 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you pick the right company for you, here are some tips to keep in mind:
- Solar Panel Brands: Different companies will offer different brands and models of panels. If you know you want a specific brand, make sure the solar panel company you’re considering has it.
- Contract: It’s important to look over your solar installer’s contract fully to understand what services they will provide, what the warranty covers and what expectations you should have about your solar system’s energy production.
- Warranty: A high-quality company stands out from other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Installation Process: Get details from your solar installer about the installation process and what to expect, including when the site survey will be completed and how long it will take.
EcoWatch's Minnetonka, MN Solar Cost FAQs
What is the average cost of installing solar panels in Minnetonka?
This is a hard question to answer exactly, because the cost depends on a few different 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. You can expect to pay more if you want additional solar equipment or more efficient panels, or if you have above-average energy usage. On the other hand, you can spend less if you opt for a smaller solar panel system or less efficient solar panels.
Can you get solar panels for free in Minnetonka?
Solar panels aren’t free in Minnetonka, but there are some options that can make getting them more affordable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can help lower the cost.
Is it worth going solar in Minnetonka?
Whether or not solar panels are worth it depends on some different factors like the cost of electricity near you and how much direct sunlight your roof gets.
How many solar panels should I get to power my home?
The exact number of solar panels you need depends on your household energy needs and the average daily sunlight your roof gets. You can take a look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to get between 20 and 35 panels to account for their typical energy usage.
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.