Solar Panel Cost Guide in Mora, MN (2023 Update)
- Mora Solar Installation Cost: $14,389
- 25-Year Savings: $21,150
- Payback Period: 10.1 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Mora
We go over average solar pricing in Mora.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Mora, the typical cost of a solar system is 2.84 per watt. The average solar panel system size in Mora is around 7.2 kilowatts, meaning a cost of about $14,393 for a solar installation, or $20,582 before the 30% federal solar tax credit is applied.
Remember that the numbers above are only averages. The price you'll pay for solar may vary based on your household energy needs, the type of solar panels you want, your solar contractor and more. But, once you've paid the upfront cost of installation, the ROI for most homeowners is typically good, with a net average savings of about $19,000 over 20 years on electricity bills.
To see your potential ROI and connect with a local solar expert, click the button below.
Solar savings over time in Mora
| Year | Return on Investment |
|---|---|
| 1 years | $-12,991 |
| 3 years | $-10,196 |
| 5 years | $-7,402 |
| 7 years | $-4,607 |
| 9 years | $-1,812 |
| 11 years | $983 |
| 13 years | $3,778 |
| 15 years | $6,572 |
| 17 years | $9,367 |
| 19 years | $12,162 |
| 21 years | $14,957 |
| 23 years | $17,752 |
| 25 years | $20,546 |
Top Solar Installers in Mora
DIY solar panel installation is a possibility, but it's an undertaking that can be a pain. Taking advantage of a solar panel installer can make converting to solar power much easier. Plus, if you're not certain what type of solar panels and equipment you need, a solar expert can help you figure that out after a site survey and consultation.
If you're searching for a solar company in Mora, we've put together a list of our top suggestions here:
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 Mora
Factors that Affect Solar Panel Costs in Mora
There are a number of factors that can play into your solar panel installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar panels.
Solar Equipment
The size of the solar energy system you need for your home, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by around $2,840. The brand of solar panels and equipment you get is another factor that will substantially impact costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to cost more. Moreover, solar equipment consists of more than just the solar panels themselves. You'll also need to decide on the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when researching a solar system that falls within your budget.
Solar Financing Terms
Solar panels can save you money on energy bills over time, but they can also be a significant investment. That's why many Mora homeowners opt to finance their solar panel systems to make paying for solar more affordable. It's a good idea to add the interest you'll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and how long it'll take to pay off the loan.
Solar Panel Installation Company
The solar panel installation company you choose will affect your total cost to adopt solar energy. Different companies will charge different amounts for the equipment and labor. The company's size sometimes plays the most considerable role in the cost of installation. Larger national companies, like SunPro and Sunrun, often have lower prices because they have access to greater resources and better pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or promotion can bring their pricing lower to compete with bigger names.
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
There are a large number of companies to choose from in Mora, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be challenging, so here are some tips to help you decide:
- Contract: It's important to look over your solar installer's contract thoroughly to understand what services they will provide, what the warranty covers and what expectations you should have about your solar system's energy production.
- Installation Process: Make sure you're on the same page with the installer regarding how the installation process will go and what you need to do before your solar system is installed, such as repairing your electrical system or roof.
- Reputation: Long-running companies likely have a high 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.
- Solar Panel Brands: Each solar panel brand and model has varying levels of quality, longevity and energy efficiency. They will come at different price points as well. The company you choose has an impact on which solar panel brands you have access to.
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 Mora, MN Solar Cost FAQs
How much does it cost to install solar panels in Mora?
The average cost of solar panels in Mora is about $14,200 for a 5-kW system and $28,400 for a 10-kW system before the ITC, but the real cost will depend on stuff like the model of solar panels you want, what size system you need and how much energy you consume.
Is it better to lease or buy solar panels in Mora?
Leasing solar panels can be an appealing choice, as it commonly comes with low or $0 upfront payments. The drawback is that you won't be able to save as much. If you lease, you don't own the system, so you can't claim any incentives and your home value won't increase. Buying solar panels is a better way to go if you want to get the most savings.
Does Mora have a net metering program?
Most states offer net metering programs of some kind. Through these, you can get paid for the extra power your system generates or or receive credits to put toward future electricity bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.
How many solar panels do I need to power my home?
To figure out how many solar panels you need, you should find out 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.