Solar Panel Cost Guide in Mound, MN (2024 Update)
- Mound Solar Installation Cost: $20,316
- 25-Year Savings: $18,714
- Payback Period: 15.4 Years
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Average Cost of Solar Panels in Mound
See how much it might cost to switch to solar power in Mound.
In Mound, solar panels cost about 4 per watt on average.Using this figure, a typical 7.2-kW system would cost about $20,316 before the 0 federal solar tax credit is applied.
Keep in mind that the numbers above are only averages. The price you’ll end up paying for solar will differ based on your household energy consumption, the type of solar panels you want to get, your solar contractor and more.Many homeowners find adopting solar power is a sound investment. The average homeowner in Mound can save about $17,000 on their electricity bills over 20 years.
To get a free estimate from a highly rated solar installation company in Mound, you can click the button below.
Solar savings over time in Mound
| Year | Return on Investment |
|---|---|
| 1 years | $-19,094 |
| 3 years | $-16,650 |
| 5 years | $-14,206 |
| 7 years | $-11,762 |
| 9 years | $-9,317 |
| 11 years | $-6,873 |
| 13 years | $-4,429 |
| 15 years | $-1,985 |
| 17 years | $459 |
| 19 years | $2,903 |
| 21 years | $5,348 |
| 23 years | $7,792 |
| 25 years | $10,236 |
Top Solar Installers in Mound
Many homeowners choose to hire a solar panel installer since figuring out how to install solar panels by yourself can be hard. Another great thing about going with a reputable solar installer is that it'll usually provide warranties and free repairs, which help protect your investment.
There are various licensed solar professionals that can help you install your solar system. Here are our suggestions:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- 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
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 Mound
Factors that Affect Solar Panel Costs in Mound
Cost is typically 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 Mound: solar equipment and system size, financing options and the solar installation company you choose. We’ll discuss each of these briefly below.
Solar Equipment
The size of the solar 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, your total will most likely increase by around $4,030. Some solar brands — like Maxeon from SunPower — cost more upfront but also tend to offer higher efficiency. In a city like Mound, 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
Most solar installers in Mound offer solar loans, which reduce your upfront costs of installing solar.When figuring out your overall cost, you should also calculate the interest you’ll pay if you decide on a solar loan. Also, paying a higher down payment can reduce the total interest paid over time.
Solar Panel Installation Company
The solar installer you go with to handle your switch to green energy can have an effect on your total costs. There are about 3 solar panel companies operating in Mound, and each can charge different amounts for labor and equipment.Additionally, some companies in Mound are more knowledgeable about local solar incentives and can help you learn about additional rebates or tax exemptions. Though, they may charge more for that service. Even if they cost more upfront, they could help you save 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 | $4.19 | $17,603 | $9,916 | 16.0 years |
| 8 kW | $4.11 | $23,019 | $13,672 | 15.7 years |
| 10 kW | $4.03 | $28,210 | $17,655 | 15.4 years |
| 12 kW | $3.95 | $33,175 | $21,863 | 15.1 years |
| 14 kW | $3.87 | $37,914 | $26,296 | 14.8 years |
| 16 kW | $3.79 | $42,428 | $30,956 | 14.5 years |
| 18 kW | $3.71 | $46,716 | $35,841 | 14.1 years |
| 20 kW | $3.63 | $50,778 | $40,951 | 13.8 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you decide on the right company for you, here are some tips to keep in mind:
- Warranty: A high-quality company stands out from other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Installation Process: An important thing to understand when adopting solar energy is the installation process itself. Be sure to align on any details you should know with your solar company, such as what permits you should secure and how long the project will take.
- Reputation: Make sure your solar company has a good reputation by confirming it has certifications and licenses, checking its number of years in business and reading reviews by past customers and solar experts like EcoWatch.
- Solar Panel Brands: The type of solar panel you need to get plays a role in which company you should choose, since different companies provide different panels.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- 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
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 Mound, MN Solar Cost FAQs
How much does it cost to install solar panels in Mound?
The average cost of solar panels in Mound is about $20,150 for a 5-kW system and $40,300 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 use.
Is it better to lease or buy solar panels in Mound?
Leasing solar panels can be an option if you can’t pay upfront or secure a solar loan, but since you don’t own the system, you don’t have access to many solar incentives. Also your home value won’t increase, so you’ll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most bang for your buck from going solar.
How much can I save on energy bills after installing solar panels?
It is possible to eliminate your electricity bills with solar panels, but for most homeowners throughout Mound, that will require at least a 10-kW system. Not all homes can accommodate that size system, so you’ll want to contact a local solar installer to see how many panels can fit on your roof.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy consumption 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 get 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.