Solar Panel Cost Guide in Minnetrista, MN (2024 Update)
- Minnetrista Solar Installation Cost: $20,316
- 25-Year Savings: $19,445
- Payback Period: 15.0 Years
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Average Cost of Solar Panels in Minnetrista
Find out what the average cost of installing solar panels is in Minnetrista.
Although the national average of solar panels is $2.66 per watt, solar panels in Minnetrista typically cost around 4.Because a 7.2-kW system is needed to cover the energy usage of a typical home in Minnetrista, the average price of going solar will be about $20,316 after claiming the federal solar tax credit of 0.
Remember that the numbers above are only averages. The price you’ll pay for solar may vary based on your household energy needs, the type of solar system you choose, your solar contractor and more.But, once you've paid the upfront cost of installation, the ROI for most homeowners is typically rewarding, with a net average savings of about $18,000 over 20 years on energy bills.
You can click the button below to get connected with a pre-vetted solar installer in Minnetrista that can help you get a more accurate cost estimate for your home.
Solar savings over time in Minnetrista
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 Minnetrista
Many homeowners opt for a solar panel installer since figuring out how to install solar panels by yourself can be time-consuming. Plus, warranties and repairs from your solar panel installer can protect your investment and lower the cost of maintenance over the lifespan of your panels.
You can get a free estimate from a local solar installer on how much your investment in solar could cost for your home. Here are some nearby:
See all of the solar companies in Minnetrista
Factors that Affect Solar Panel Costs in Minnetrista
The cost of installing a solar system in Minnetrista can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The largest one is your system size, and other factors include the equipment you choose, financing options and the solar installer you choose.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of installing solar panels. For that reason, it’s important to accurately ascertain the size of the solar energy system needed for your home by figuring out your energy needs.The brand and type of equipment you get for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often have a higher price tag 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 will be looking at 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 increase the cost.
Solar Financing Terms
Most solar installers in Minnetrista provide solar loans, which reduce your upfront costs of installing solar.You’ll have to consider the long-term cost of financing options, including the total interest you’ll pay over the length of the loan. If you’re only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the principal cost. Making a larger down payment or finding a solar loan with a low APR could reduce your costs considerably.
Solar Panel Installation Company
A final consideration when trying to evaluate the cost of solar for your home or business in Minnetrista is the company you choose to install your solar panel system. As with choosing a company to install new cabinets, for instance, there are plenty of solar installers that provide a range of services for different budgets.Companies that only sell high-quality, high-efficiency and high-price products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come at a higher cost. It’s best to do some research and find a company that offers the products, warranties and services you’re looking for 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 | $10,525 | 15.6 years |
8 kW | $4.11 | $23,019 | $14,484 | 15.3 years |
10 kW | $4.03 | $28,210 | $18,669 | 15.0 years |
12 kW | $3.95 | $33,175 | $23,080 | 14.7 years |
14 kW | $3.87 | $37,914 | $27,717 | 14.4 years |
16 kW | $3.79 | $42,428 | $32,579 | 14.1 years |
18 kW | $3.71 | $46,716 | $37,667 | 13.8 years |
20 kW | $3.63 | $50,778 | $42,981 | 13.5 years |
How to Save on Solar Panels
Since the brand of solar panels and the installer you choose significantly influences your costs and your system’s durability and efficiency, it’s important to select the right ones for you. Here are some things to keep in mind to help with your decision:
- Solar Panel Brands: Each solar panel brand and kind has varying levels of quality, longevity and energy efficiency. They will come at different costs as well. The company you choose has an impact on which solar panel brands you have access to.
- Installation Process: Get detailed information from your solar company about the installation process and what to expect, including when the site survey will be completed and what the project timeline is.
- Contract: When looking through your solar company’s contract, ask questions about any terms you’re not sure of and make sure you understand what happens in scenarios such as a system component breaking or the company going out of business.
- Warranty: Warranties that provide coverage for panel repairs and maintenance over a long period of time such as 25 years are the best you can get in the business, and offering that kind of warranty is one indication of a good company.
EcoWatch's Minnetrista, MN Solar Cost FAQs
How much does it cost to install solar panels in Minnetrista?
This is a difficult 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 be more expensive if you want extra solar equipment or more efficient panels, or if you have above-average energy usage. On the other hand, you can spend less if you go with a smaller solar panel system or cheaper solar panels.
Is it better to lease or buy solar panels in Minnetrista?
Leasing solar panels can be an option if you can’t pay upfront or get a solar loan, but since you don’t own the system, you don’t have access to many solar incentives. Also your property value won’t increase, so you’ll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most financial benefits from going solar.
Is making the switch to solar worth it?
Solar panels can be a beneficial investment for most homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your electricity bills are already reasonably low, solar panels might not be for you.
What solar power system size is right for my home?
To figure out what solar panel system size you need, you need to know how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can usually 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.