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
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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:
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 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.
EcoWatch's New Prague, MN Solar Cost FAQs
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.