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

  • Montevideo Solar Installation Cost: $19,852
  • 25-Year Savings: $16,405
  • Payback Period: 16.3 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

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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 Montevideo

Here’s how much it might cost to go solar in Montevideo.

Currently, the national average cost of solar panels is $2.66 per watt. However, in Montevideo, the typical cost of solar panels is 4 per watt.The average Montevideo homeowner needs a 7.0-kilowatt system, which would cost about $19,852 with the federal tax credit, or $28,388 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 actual cost of installing solar panels can vary depending on a few factors, such as what size system you need, your energy usage and what installation company you go with.But, once you've paid the initial cost of installation, the return on investment for most homeowners is typically fruitful, with a net average savings of about $16,000 over 20 years on utility bills.

To calculate your potential savings and connect with a local solar installer, click the button below.

Solar savings over time in Montevideo

Year Return on Investment
1 years $-18,572
3 years $-16,013
5 years $-13,455
7 years $-10,896
9 years $-8,337
11 years $-5,778
13 years $-3,219
15 years $-660
17 years $1,899
19 years $4,458
21 years $7,017
23 years $9,575
25 years $12,134

Top Solar Installers in Montevideo

When making the switch to solar, many homeowners prefer to go with a solar installation company since installing solar panels yourself can be a difficult project. Another great thing about going with a reliable solar installer is that it'll provide warranties and free repairs, which help protect your solar investment.

There are several licensed solar professionals that can help you install your solar system. Here are our suggestions:

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 Montevideo

Factors that Affect Solar Panel Costs in Montevideo

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

Solar Equipment

When it comes to estimating the price of a solar energy system in Montevideo, one of the most crucial 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 consumption, 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.The kind of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you opt for the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. On the other hand, higher efficiency could save you more in the long run on your power bills. Additionally, extra products, such as solar batteries, can bring your total well above the Montevideo average.

Solar Financing Terms

Solar panels can save you money on utility bills over time, but they can also be a significant investment. That’s why many Montevideo homeowners decide to finance their solar panel systems to offset upfront costs.Though solar loans make adopting solar energy more accessible for Montevideo 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 avoid paying as much in interest.

Solar Panel Installation Company

The solar installer you go with to handle your switch to sustainable energy can play a role in your total costs. There are about 3 solar panel companies operating in Montevideo, and each can charge different amounts for labor and equipment.You may come across national solar installers that have lower prices because of their bigger brand name and access to bulk equipment prices, or you might see small, local installation companies offering deals or promotions to compete with those larger 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 $8,312 17.0 years
8 kW $4.11 $23,019 $11,534 16.7 years
10 kW $4.03 $28,210 $14,982 16.3 years
12 kW $3.95 $33,175 $18,655 16.0 years
14 kW $3.87 $37,914 $22,554 15.7 years
16 kW $3.79 $42,428 $26,679 15.3 years
18 kW $3.71 $46,716 $31,030 15.0 years
20 kW $3.63 $50,778 $35,606 14.7 years

How to Save on Solar Panels

There are many solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you select the right company for you, here are some tips to keep in mind:

  • Solar Panel Brands: Different companies will carry different brands and types of panels. If you know you want a specific brand, make sure the solar installer you’re considering has it.
  • Installation Process: When making the switch to solar energy, it’s important to maintain an open line of communication with your solar panel installer. Confirm that you understand how the installation process will go and the completion timeline.
  • Contract: Though reading through a contract can be tedious, it’s important to do it thoroughly so you can make sure you understand how much the equipment and services will cost and the terms of the warranty.
  • Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for sustainable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a good reputation and is qualified to install your solar system. Another way you can research your installer’s reputation is by reading reviews.

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 Montevideo, MN Solar Cost FAQs

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

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

Is cost the most important thing to consider when buying solar panels?

The upfront cost is a crucial factor to consider, but whether it’s the most important for you depends on your reasons for going solar. In areas where rooftop space is limited, efficiency can trump the cost. Other factors that are important to take into account are the quality and durability of your solar panels.

How will solar panels impact my property value?

Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Montevideo is currently $199,794, which means you can look forward to a value of about $8,192 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Montevideo is a rewarding investment.

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 needs 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 household 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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