Solar Panel Cost Guide in New Prague, MN (Feb 2023)

  • New Prague Solar Installation Cost: $14,214
  • 25-Year Savings: $19,183
  • Payback Period: 10.6 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated January 20, 2023

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We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in New Prague

Let's have a look at the average cost of solar in New Prague.

Currently, the national average cost of solar panels is $2.66 per watt. However, in New Prague, the average cost of a solar system is $3 per watt. Using this figure, a typical 7.2 would cost about $14,214 before the 30% federal solar tax credit is applied.

The prices above are just estimates to give you an idea of how much solar panels could cost. The actual cost of installing solar panels can vary depending on multiple factors, such as what size system you need, your energy usage and what solar installer you go with. But, once you've paid the initial cost of installation, the payback for most homeowners is quite good, with a net average savings of about $18,000 over 20 years on utility bills.

You can click the button below to get connected with a vetted solar installer in New Prague for a quote for your home.

Solar savings over time in New Prague

Year Return on Investment
1 years $-12,878
3 years $-10,207
5 years $-7,535
7 years $-4,863
9 years $-2,191
11 years $481
13 years $3,152
15 years $5,824
17 years $8,496
19 years $11,168
21 years $13,839
23 years $16,511
25 years $19,183

Top Solar Installers in New Prague

Installing solar panels yourself can be a dangerous task, which is why using a solar installation company is a good option for many homeowners. Companies can also offer access to various kinds of the best solar panels and help you pick which one will be best for you.

If you'd like to go solar but still aren't certain which solar panel installer to go with, here are our recommendations for providers nearby:

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Technology

Tesla Energy

★★★★★
4.5

  • 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

★★★★★
4.0

  • 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 New Prague

Factors that Affect Solar Panel Costs in New Prague

There are several factors that can influence your solar system installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that performs the installation.

Solar Equipment

Solar system size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of going solar. For that reason, it's a priority to accurately gauge the size of the solar energy system needed for your home by figuring out your average energy use. Some solar brands — like Maxeon from SunPower — cost more upfront but also tend to offer better efficiency. In a city like New Prague, where sunlight isn't as abundant, efficiency can quickly pay off. Also, if you have a small roof or you don't have a lot of 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

Many homeowners find the average cost of solar in New Prague to be too costly, even if the investment pays off over time. Thankfully, nearly every solar company in the area provides financing options. Solar loans substantially decrease upfront costs for most homeowners, but they also result in paying more over time due to interest. However, the interest on solar loans also increases your all-in costs, so it's vital to include that in your estimate as well. You can always lower the total you pay in interest and in some cases even your APR by making a larger down payment.

Solar Panel Installation Company

The remaining major cost factor you should take into consideration is the installer you choose. Given the growing popularity of renewable energy solutions in New Prague, you'll have plenty of options to choose from, but each comes at various price points for labor and equipment. Companies that only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come at a higher cost. It's best to do some research and decide on the company that offers the products, warranties and services you're looking for and also fit into your budget.

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 $15,625 11.1 years
8 kW $2.90 $16,222 $21,152 10.9 years
10 kW $2.84 $19,880 $26,837 10.6 years
12 kW $2.78 $23,379 $32,682 10.4 years
14 kW $2.73 $26,719 $38,686 10.2 years
16 kW $2.67 $29,900 $44,848 10.0 years
18 kW $2.61 $32,921 $51,170 9.8 years
20 kW $2.56 $35,784 $57,651 9.6 years

How to Save on Solar Panels

The solar company you go with will be a major factor in determining 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 several important things you should consider, including:

  • Reputation: Long-standing companies likely have a high reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide quality aftercare and customer service, such as part repairs and replacements.
  • Contract: It's important to read through your solar installer's contract closely to understand what services they will provide, what the warranty covers and what you can expect about your solar system's energy production.
  • Installation Process: One of the most important things to understand when adopting solar power is the installation process itself. Be sure to align on any details you need to know with your solar company, such as what permits you should acquire and what the project timeline is.
  • Solar Panel Brands: Different companies will offer different brands and kinds of panels. If you want a specific brand, make sure the solar panel installer you're considering has it.

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Technology

Tesla Energy

★★★★★
4.5

  • 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

★★★★★
4.0

  • Expansive service area
  • Makes charitable contributions
  • Certified B Corp
  • No leases or PPAs
  • Quality of installation may vary by location

EcoWatch's New Prague, MN Solar Cost FAQs

What is the average cost of installing solar panels in New Prague?

The average cost of solar panels in New Prague is about $14,200 for a 5-kW system and $28,400 for a 10-kW system before the ITC, but the actual cost will depend on things such as the kind of solar panels you want, what size system you need and how much energy you use.

Is cost the most important consideration when buying solar panels?

The initial cost is a crucial factor to consider, but whether it's the most important for you depends on your goals for going solar. In cities where rooftop space is limited, efficiency can trump the cost. Other factors that are important to consider are the quality and durability of your solar panels.

Is going solar worth it?

Solar panels can be a good 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 electricity bills are already reasonably low, solar panels might not be for you.

How often do you have to replace solar panels?

On average, solar panels can last 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 higher 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.

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