Solar Panel Cost Guide in Mounds View, MN (2023 Update)
- Mounds View Solar Installation Cost: $14,353
- 25-Year Savings: $21,433
- Payback Period: 10.0 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Mounds View
See how much it might cost to install solar panels in Mounds View.
The national average cost of solar panels is $2.66 per watt, but in Mounds View it's 2.84 per watt. To account for the typical energy usage of the average home in Mounds View, most homeowners require a 7.2-kilowatt system. Using the figure above, a solar installation costs about $14,353, or $20,525 before the federal solar tax credit of 30% is applied.
Keep in mind that the numbers above are only averages. The price you'll end up paying for solar may look quite different based on your household energy needs, the type of equipment you want to get, your solar contractor and more. With typical savings of about $19,000 on electricity bills over 20 years, many homeowners in Mounds View find installing solar panels can pay off big.
To see your potential savings and connect with a local solar company, click the button below.
Solar savings over time in Mounds View
| Year | Return on Investment |
|---|---|
| 1 years | $-12,922 |
| 3 years | $-10,059 |
| 5 years | $-7,196 |
| 7 years | $-4,333 |
| 9 years | $-1,470 |
| 11 years | $1,392 |
| 13 years | $4,255 |
| 15 years | $7,118 |
| 17 years | $9,981 |
| 19 years | $12,844 |
| 21 years | $15,707 |
| 23 years | $18,570 |
| 25 years | $21,433 |
Top Solar Installers in Mounds View
Trying to put up solar panels yourself can be a difficult project, which is why hiring a solar installation company is a good option for many homeowners. A solar company can also help save you money over time by providing warranties, repairs and part replacements.
Working with a vetted 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 Mounds View
Factors that Affect Solar Panel Costs in Mounds View
For many Mounds View homeowners, the decision to install a solar energy system depends on cost. However, the range of solar installation costs can be quite wide in Mounds View, with typical prices between $20,000 to $40,000. There are various 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 key factors is the system size, which is measured in kilowatts (kW). Solar power systems that have greater efficiency or power production require better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $2,840. There are many different solar panel brands and the one you pick also changes the cost. Generally, the brands that have better efficiency tend to also be more expensive. Plus, the type of equipment you're looking to install can affect your total cost. If you only need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be a challenge. Solar loans are offered by most installers in Mounds View, which can bring down, or in some cases completely eliminate, your upfront costs to make solar more affordable. You'll have to consider the long-term cost of loans, 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 above the equipment and labor cost. Making a larger down payment or getting a solar loan with a low interest rate could reduce your costs remarkably.
Solar Panel Installation Company
A final factor to consider when trying to figure out the cost of solar for your home or business in Mounds View is the company you hire to install your PV system. Similar to choosing a company to renovate your kitchen, for instance, there's no shortage of solar installers that offer a range of services at different price points. You may see national solar installers that have lower prices because of their bigger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or specials to compete with those major players.
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 | $17,351 | 10.4 years |
| 8 kW | $2.90 | $16,222 | $23,453 | 10.2 years |
| 10 kW | $2.84 | $19,880 | $29,713 | 10.0 years |
| 12 kW | $2.78 | $23,379 | $36,133 | 9.8 years |
| 14 kW | $2.73 | $26,719 | $42,712 | 9.6 years |
| 16 kW | $2.67 | $29,900 | $49,450 | 9.4 years |
| 18 kW | $2.61 | $32,921 | $56,347 | 9.2 years |
| 20 kW | $2.56 | $35,784 | $63,403 | 9.0 years |
How to Save on Solar Panels
Since the kind of solar panels and the installer you choose significantly influences your costs and your system's durability and efficiency, it's important to select the right ones for you. Here are some things to keep in mind to help with your decision:
- Contract: Look through the contract terms thoroughly to make sure you understand the overall cost, project timeline incentives and warranties.
- Reputation: Make sure your solar company has a good reputation by verifying it has certifications and licenses, checking its work history and reading reviews by past customers and solar experts like the EcoWatch team.
- Installation Process: Get detailed information from your solar company about the installation process and what to expect, including when the site survey will be done and what the project timeline is.
- Solar Panel Brands: Not all solar companies have the same brands of solar panels, so the brand and type of panel you want can play a big role in the company you hire.
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 Mounds View, MN Solar Cost FAQs
What is the average cost of installing solar panels in Mounds View?
This is a tough question to answer exactly, because the cost depends on many 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. You can expect to pay more if you want extra solar equipment or more efficient panels, or if you have higher-than-average energy usage. On the flip side, you can spend less if you want a smaller solar panel system or less efficient solar panels.
Are solar panels free in Mounds View?
Solar panels aren't free in Mounds View, but there are some options that can make getting them more affordable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that you can take advantage of.
Does Mounds View have a net metering program?
The majority of states have net metering programs of some kind. Through these, you can receive compensation 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.
What solar power system size is right for my home?
To figure out what solar panel system size you need, you should find out how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can generally 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.