Solar Panel Cost Guide in Newport, MN (Feb 2023)
- Newport Solar Installation Cost: $14,353
- 25-Year Savings: $21,433
- Payback Period: 10.0 Years
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Top Solar Installers in Newport
Do-it-yourself solar panel installation is a possibility, but it's an undertaking that can be a pain. Going with an installer can make swapping over to solar power much easier. Companies can also provide access to quality options of the best solar panels and help you pick which one will be best for your family.
There are several licensed solar professionals that can install solar panels for you. Here are our suggestions:
See all of the solar companies in Newport
Factors that Affect Solar Panel Costs in Newport
There are several 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 performs the installation.
The cost of solar panels varies by thousands of dollars due to some different factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems with better efficiency or power production require better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $2,840. The brand of solar panels and equipment you want is another factor that will greatly impact costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to cost more. Further, solar equipment goes beyond 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 looking into a solar system that falls within your budget.
Solar Financing Terms
Many homeowners find the average cost of solar in Newport to be too steep, even if the investment pays off over time. Fortunately, almost every solar company in the area provides access to financing options. Solar loans substantially decrease upfront costs for most homeowners, but they also result in a higher cost over time because of interest. It's a good idea to include 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 the amount of time it'll take to pay off the loan.
Solar Panel Installation Company
The solar company you hire to handle your switch to green energy can have an effect on your total costs. There are about 3 solar installation companies in Newport, and each can charge different amounts for labor and equipment. Larger national companies typically have lower costs, but some local companies keep up with them by offering sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or add-on services like electric car charger installation, they might be cheaper overall.
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||$17,331||10.4 years|
|8 kW||$2.90||$16,222||$23,426||10.2 years|
|10 kW||$2.84||$19,880||$29,680||10.0 years|
|12 kW||$2.78||$23,379||$36,093||9.8 years|
|14 kW||$2.73||$26,719||$42,665||9.6 years|
|16 kW||$2.67||$29,900||$49,396||9.4 years|
|18 kW||$2.61||$32,921||$56,286||9.2 years|
|20 kW||$2.56||$35,784||$63,335||9.0 years|
How to Save on Solar Panels
Since the brand of solar panels and the company you choose has an impact on your costs and your system's durability and efficiency, it's important to select the right ones for you. Here are some tips to keep in mind to help with your decision:
- Contract: It's important to read your solar installer's contract thoroughly to understand what services they will provide, what the warranty covers and what expectations you should have about the installation process.
- Solar Panel Brands: Not all solar companies offer the same brands of solar panels, so the brand and type of panel you want can play a substantial role in the company you opt for.
- Reputation: Make sure your solar panel installer has a good reputation by confirming it has certifications and licenses, checking how long it's been in business and reading reviews by previous customers and solar experts like EcoWatch.
- Installation Process: Homeowners should make sure they understand how exactly the installation process will be carried out, as well as important factors like the completion timeline.
EcoWatch's Newport, 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.