Solar Panel Cost Guide in Mora, MN (Feb 2023)
- Mora Solar Installation Cost: $14,393
- 25-Year Savings: $21,146
- Payback Period: 10.1 Years
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Updated January 20, 2023
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Average Cost of Solar Panels in Mora
Find out what the average cost of a solar system is in Mora.
The national average cost of solar panels is $2.66 per watt, but in Mora it's $3 per watt. Using this figure, a typical 7.2 would cost about $14,393 before the 30% federal solar tax credit is applied.
The prices above are just estimates to give you an idea of how much a solar panel system could cost. The true cost of making the switch to solar can vary quite a bit depending on a few factors, such as what size system you need, your energy consumption and what solar installer you go with. With average savings of about $19,000 on power bills over 20 years, many homeowners in Mora find going solar can be quite rewarding.
Click the button below to get connected to a reputable solar company in your area for a personalized quote.
Solar savings over time in Mora
| Year | Return on Investment |
|---|---|
| 1 years | $-12,972 |
| 3 years | $-10,128 |
| 5 years | $-7,285 |
| 7 years | $-4,442 |
| 9 years | $-1,599 |
| 11 years | $1,244 |
| 13 years | $4,087 |
| 15 years | $6,930 |
| 17 years | $9,773 |
| 19 years | $12,616 |
| 21 years | $15,459 |
| 23 years | $18,303 |
| 25 years | $21,146 |
Top Solar Installers in Mora
Installing solar panels by yourself can be a challenging project, which is why using a solar installation company is a good option for many homeowners. Companies can also offer access to quality options of the best solar panels and help you choose which one will be best for you.
If you'd like to switch to solar energy but still aren't sure which solar panel installer to go with, here are our recommendations for providers nearby:
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 Mora
Factors that Affect Solar Panel Costs in Mora
For many Mora homeowners, the decision to install a solar energy system rests on cost. However, the range of solar installation costs can be quite wide in Mora, with typical prices between $20,000 to $40,000. There are numerous factors that significantly influence the price you'll pay, which we'll go over below.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a few different factors. One of the major factors is the system size, which is measured in kilowatts (kW). Solar power systems that have better efficiency or power generation need 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. The brand and kind of equipment you get for your solar system can raise or lower the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often come at a higher price 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 extra equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be difficult. Solar loans are provided by most installers in Mora, which can reduce, or in some cases eliminate, your upfront costs to make solar more accessible. You'll have to consider the long-term cost of financing options, including the amount of 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 original cost. Making a larger down payment or securing a solar loan with a low APR could reduce your costs considerably.
Solar Panel Installation Company
The solar installer you choose will affect your total cost to go solar. Different companies will charge different amounts for the equipment and labor. Additionally, some companies in Mora are more knowledgeable about local solar incentives and can help you take advantage of additional rebates or tax exemptions. Though, they may charge more for that service. Even if they cost more upfront, they could end up saving you more money in the long run.
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 | $17,056 | 10.5 years |
| 8 kW | $2.90 | $16,222 | $23,059 | 10.3 years |
| 10 kW | $2.84 | $19,880 | $29,222 | 10.1 years |
| 12 kW | $2.78 | $23,379 | $35,543 | 9.9 years |
| 14 kW | $2.73 | $26,719 | $42,024 | 9.7 years |
| 16 kW | $2.67 | $29,900 | $48,663 | 9.5 years |
| 18 kW | $2.61 | $32,921 | $55,462 | 9.3 years |
| 20 kW | $2.56 | $35,784 | $62,419 | 9.1 years |
How to Save on Solar Panels
The solar installer you go with will influence not only your overall costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are some important things you should consider, such as:
- Reputation: Your solar installer should have a sound reputation as a company and have demonstrated expertise in the field. Two ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has satisfied reviews from previous customers.
- Solar Panel Brands: The kind of solar panel you need to install plays a part in which installer you should go with, since different companies have different panels.
- Installation Process: When making the switch to solar, it's important to keep an open line of communication with your solar installer. Make sure you understand how the installation process works and the project completion timeline.
- Contract: It's important to look over your solar installer's contract fully to understand what services they will provide, what the warranty covers and what expectations you should have about the cost.
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 Mora, MN Solar Cost FAQs
What is the average cost of installing solar panels in Mora?
This is a tough question to answer exactly, because the cost depends on a few different 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 higher quality panels, or if you have higher-than-average energy needs. On the flip side, you can spend less if you go with a smaller solar panel system or less efficient solar panels.
Is cost the most important consideration 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 cities 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 home value?
Solar panels can increase your home value significantly as long as you buy or finance your panels and don't opt for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% with a solar installation."
How many solar panels do I need to power 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 house 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.