Solar Panel Cost Guide in Montrose, MN (2023 Update)
- Montrose Solar Installation Cost: $14,174
- 25-Year Savings: $19,638
- Payback Period: 10.5 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Montrose
Let's have a look at the average cost of solar panels in Montrose.
The national average cost of solar panels is $2.66 per watt, but in Montrose it's 2.84 per watt. Using this figure, a typical 7.1-kW system would cost about $14,174 before the 30% federal solar tax credit is applied.
Keep in mind that the figures above are only estimates based on the average energy use of Montrose homeowners. The price of a solar system for your home may look different depending on factors unique to you, like your household energy use and solar contractor. For most homeowners, the upfront cost of solar is worth paying. On average you could be looking at about $18,000 in savings on energy bills over 20 years.
For a free quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Montrose
| Year | Return on Investment |
|---|---|
| 1 years | $-12,822 |
| 3 years | $-10,117 |
| 5 years | $-7,412 |
| 7 years | $-4,707 |
| 9 years | $-2,002 |
| 11 years | $703 |
| 13 years | $3,408 |
| 15 years | $6,113 |
| 17 years | $8,818 |
| 19 years | $11,523 |
| 21 years | $14,228 |
| 23 years | $16,933 |
| 25 years | $19,638 |
Top Solar Installers in Montrose
Many homeowners choose to use a solar panel company since trying to put up solar panels on your own can be a labor-intensive endeavor. Companies can also provide access to various kinds of the best solar panels and help you choose which one will be right for your family.
There are a number of licensed solar professionals that can help you install your solar system. Here are our suggestions:
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
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
See all of the solar companies in Montrose
Factors that Affect Solar Panel Costs in Montrose
Cost is often one of the most important factors for homeowners wanting to invest in solar. There are a few major factors that determine your overall cost in Montrose: solar equipment and system size, financing options and the solar installation company you choose. We'll cover each of these briefly below.
Solar Equipment
One of the most important factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more power your household uses, the larger your system will likely need to be. You can expect to pay around $2,840 per kilowatt in Montrose. Some solar panel brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer better efficiency. In a city like Montrose, 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
If paying for solar panels out of pocket is difficult, solar loans are an affordable option because they lower your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years. You'll have to consider the long-term cost of loans, including the amount of interest you'll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or finding a solar loan with a low APR could reduce your costs considerably.
Solar Panel Installation Company
The solar installer you choose to handle your switch to sustainable energy can have an effect on your total costs. There are about 3 solar panel companies in Montrose, and each can charge varying amounts for labor and equipment. You may see national solar installers that have lower prices because of their bigger brand name and access to bulk equipment pricing, 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 | $2.95 | $12,405 | $16,065 | 10.9 years |
| 8 kW | $2.90 | $16,222 | $21,738 | 10.7 years |
| 10 kW | $2.84 | $19,880 | $27,570 | 10.5 years |
| 12 kW | $2.78 | $23,379 | $33,561 | 10.3 years |
| 14 kW | $2.73 | $26,719 | $39,711 | 10.1 years |
| 16 kW | $2.67 | $29,900 | $46,021 | 9.8 years |
| 18 kW | $2.61 | $32,921 | $52,489 | 9.6 years |
| 20 kW | $2.56 | $35,784 | $59,116 | 9.4 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 select the right company for you, here are some tips to keep in mind:
- Solar Panel Brands: Each solar panel brand and type has varying levels of quality, longevity and efficiency. They will come at different costs as well. The company you choose affects which solar panel brands you have access to.
- Warranty: A high-quality company rises above other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Reputation: Long-running companies likely have a good reputation. This is important because it ensures that it will not only see your solar project through, but will also provide adequate aftercare and customer service, such as part repairs and replacements.
- Contract: Even though reading through a contract can be tedious, it's important to do it carefully so you can be sure you understand how much the equipment and services will cost and the terms of the warranty.
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
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
EcoWatch's Montrose, MN Solar Cost FAQs
How much does it cost to install solar panels in Montrose?
The average cost of solar panels in Montrose is about $14,200 for a 5-kW system and $28,400 for a 10-kW system before the ITC, but the actual 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.
What other factors should I consider other than cost when buying solar panels?
Cost is definitely one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Is making the switch to solar worth it?
Whether or not solar panels are worth it depends on a variety of factors like the cost of electricity near you and how much direct sunlight your roof gets.
How many solar panels do I need 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 buy 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.