Solar Panel Cost Guide in Moorhead, MN (2023 Update)
- Moorhead Solar Installation Cost: $14,254
- 25-Year Savings: $18,838
- Payback Period: 10.8 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Moorhead
See how much it might cost to install solar panels in Moorhead.
Although the national average of solar panels is $2.66 per watt, solar panels in Moorhead generally cost about 2.84. Using this figure, a typical 7.2-kW system would cost about $14,254 before the 30% federal solar tax credit is applied.
How much you pay can go above or below the average in Moorhead based on a variety of factors, such as the type of solar panels you choose and the solar installer you hire. Many homeowners find installing a solar system is a solid investment. The average homeowner in Moorhead can save about $18,000 on their energy bills over 20 years.
For a customized quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Moorhead
| Year | Return on Investment |
|---|---|
| 1 years | $-12,930 |
| 3 years | $-10,283 |
| 5 years | $-7,636 |
| 7 years | $-4,988 |
| 9 years | $-2,341 |
| 11 years | $306 |
| 13 years | $2,954 |
| 15 years | $5,601 |
| 17 years | $8,248 |
| 19 years | $10,896 |
| 21 years | $13,543 |
| 23 years | $16,190 |
| 25 years | $18,838 |
Top Solar Installers in Moorhead
Although it's possible to install solar panels by yourself, it involves extra effort and handiness. That's why almost all homeowners choose to hire a solar panel installer. Because solar panels are exposed to rain, snow, hail and wind, depending on the climate, warranties and repairs from your solar company can help you get the most out of your investment in solar panels by reducing potential costs down the line.
Working with a licensed solar company can help you make the most of your investment in solar. Here are our recommendations:
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 Moorhead
Factors that Affect Solar Panel Costs in Moorhead
For many Moorhead homeowners, the decision to go solar rests on cost. However, the range of solar installation costs can be quite wide in Moorhead, with typical prices between $20,000 to $40,000. There are a number of factors that greatly influence the price you'll pay, which we'll go over below.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to some different factors. One of the main factors is the system size, which is measured in kilowatts (kW). Solar power systems that have better efficiency or power generation require better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $2,840. Some solar panel brands — like Maxeon from SunPower — are more costly upfront but also tend to offer higher efficiency. In a city like Moorhead, 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
For some homeowners, paying for solar panels out of pocket can be difficult. Solar loans are available from most installers in Moorhead, which can lower, or in some cases totally eliminate, your upfront costs to make solar more affordable. While solar loans make adopting solar energy more accessible for Moorhead homeowners, they can also increase the total you pay for your system, depending on your interest rate. If you put down a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
The solar installer you choose to handle your switch to clean energy can play a part in your total costs. There are about 3 solar installation companies in Moorhead, and each can charge varying amounts for labor and equipment. Larger national companies usually have lower costs, but some local companies undercut them by promoting sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or add-on services like electric vehicle 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 | $2.95 | $12,405 | $15,269 | 11.2 years |
| 8 kW | $2.90 | $16,222 | $20,677 | 11.0 years |
| 10 kW | $2.84 | $19,880 | $26,244 | 10.8 years |
| 12 kW | $2.78 | $23,379 | $31,970 | 10.6 years |
| 14 kW | $2.73 | $26,719 | $37,855 | 10.3 years |
| 16 kW | $2.67 | $29,900 | $43,899 | 10.1 years |
| 18 kW | $2.61 | $32,921 | $50,102 | 9.9 years |
| 20 kW | $2.56 | $35,784 | $56,464 | 9.7 years |
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Because picking a company can be a challenge, we have some tips to help you, such as:
- Installation Process: Get detailed information from your solar company about the installation process and what to expect, such as when the site survey will be completed and how long it will take.
- Solar Panel Brands: Not all solar companies carry the same brands of solar panels, so the brand and type of panel you want can play a large role in the company you opt for.
- Contract: Look through the contract terms carefully to make sure you understand the overall cost, project timeline rebates and warranties.
- Reputation: Solar installers that have great reviews from their customers and that have been in business for many years likely provide quality solar panel installation and expertise.
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 Moorhead, MN Solar Cost FAQs
How much does it cost to install solar panels in Moorhead?
This is a tough question to answer precisely, because the cost depends on a few different factors. Broadly speaking, it costs about $14,200 for a 5-kW system and $28,400 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 higher-than-average energy usage. Conversely, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.
What other factors should I consider apart from cost when buying solar panels?
Cost is without a doubt one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Is it worth going solar in Moorhead?
Solar panels can be a beneficial investment for a majority of homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your power bills are already pretty low, solar panels might not be for you.
How long do solar panels last in Moorhead?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger amount of energy production.
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.