Solar Panel Cost Guide in Montrose, MN (2023 Update)
- Montrose Solar Installation Cost: $14,166
- 25-Year Savings: $19,646
- Payback Period: 10.5 Years
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Updated September 15, 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.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Montrose, the typical cost of solar panels is 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.
How much you pay can go higher or lower than the average in Montrose based on a variety of factors, such as the model of solar panels you choose and the solar company you hire. For most homeowners, the upfront investment in solar power is worth paying. On average Montrose homeowners see about $18,000 in savings on utility bills over 20 years.
You can click the button below to get connected with a vetted solar company in Montrose that can help you get a more accurate cost estimate for your home.
Solar savings over time in Montrose
| Year | Return on Investment |
|---|---|
| 1 years | $-14,053 |
| 3 years | $-13,828 |
| 5 years | $-13,602 |
| 7 years | $-13,377 |
| 9 years | $-13,152 |
| 11 years | $-12,926 |
| 13 years | $-12,701 |
| 15 years | $-12,475 |
| 17 years | $-12,250 |
| 19 years | $-12,024 |
| 21 years | $-11,799 |
| 23 years | $-11,574 |
| 25 years | $-11,348 |
Top Solar Installers in Montrose
Many homeowners choose to hire a solar panel company since trying to install solar panels on your own can be a labor-intensive endeavor. Plus, if you're not certain what kind of solar panels and equipment you need, a solar installer can help you find the right equipment for you after a site survey and consultation.
If you'd like to go solar but still aren't certain which solar panel company to go with, here are our suggestions for providers near you:
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
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
See all of the solar companies in Montrose
Factors that Affect Solar Panel Costs in Montrose
There are several criteria that can influence your total installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that does the installation.
Solar Equipment
When it comes to estimating the cost of a solar panel system in Montrose, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home's energy usage, which you can gauge by looking at past energy bills. Your total cost can increase by around $2,840 for each additional kilowatt you need. Some solar 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. In addition, if you have a small roof or you don't have a lot of space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Solar panels can save you money on utility bills over many years, but they can also be a significant investment. That's why many Montrose homeowners choose to finance their solar panel systems to make paying for solar more affordable. However, the interest on solar loans also increases your all-in costs, so it's vital to consider that as well. You can always lower the total you pay in interest and in some cases even your APR by making a larger down payment.
Solar Panel Installation Company
The remaining major cost factor you should take into consideration is the installer you choose. Given the growing popularity of renewable energy solutions in Montrose, you'll have plenty of options to choose from, but each comes at various price points for labor and equipment. Companies that only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally cost more. It's best to do some research and go with the company that offers the products, warranties and services you want 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 | $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 brands and price points. To help you find the right company for you, here are some tips to keep in mind:
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a solid reputation and is qualified to do the job well. Another way you can look into your installer's reputation is by reading reviews.
- Warranty: Each company may offer different types of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Contract: Although reading through a contract can take a lot of time, it's important to do it thoroughly so you can make sure you understand what services your solar company will provide and the terms of the warranty.
- Solar Panel Brands: Different companies offer different brands and kinds of panels. If you want a specific brand, make sure the solar installer you're considering has it.
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
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
EcoWatch's Montrose, MN Solar Cost FAQs
What is the average cost of installing solar panels in Montrose?
This is a difficult question to answer exactly, because the cost depends on many factors. Generally 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 other solar equipment or more efficient panels, or if you have above-average energy usage. On the flip side, you can spend less if you choose a smaller solar panel system or cheaper solar panels.
Is cost the most important thing to consider when buying solar panels?
The upfront cost is a very important 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 think about are the quality and durability of your solar panels.
Do solar panels increase your property value?
Solar panels can increase the value of your home considerably as long as you buy or finance your panels and don't go for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing solar panels."
How many solar panels should I get to power my home?
To figure out how many solar panels 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.