Solar Panel Cost Guide in North Branch, MN (2023 Update)
- North Branch Solar Installation Cost: $14,360
- 25-Year Savings: $24,004
- Payback Period: 9.4 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in North Branch
We go over average solar pricing in North Branch.
The national average cost of solar panels is $2.66 per watt, but in North Branch it's 2.84 per watt. Using this figure, a typical 7.2-kW system would cost about $14,353 before the 30% federal solar tax credit is applied.
Keep in mind that the figures above are only estimates based on the average North Branch homeowner. The price of a solar system for your home may look different depending on factors unique to you, like your household energy use and solar contractor. But, once you've paid the initial cost of installation, the payback for most homeowners is usually good, with a net average savings of about $20,000 over 20 years on power bills.
You can click the button below to get connected with a top solar company in North Branch for a quote for your home.
Solar savings over time in North Branch
| Year | Return on Investment |
|---|---|
| 1 years | $-13,081 |
| 3 years | $-10,522 |
| 5 years | $-7,963 |
| 7 years | $-5,404 |
| 9 years | $-2,845 |
| 11 years | $-286 |
| 13 years | $2,273 |
| 15 years | $4,831 |
| 17 years | $7,390 |
| 19 years | $9,949 |
| 21 years | $12,508 |
| 23 years | $15,067 |
| 25 years | $17,626 |
Top Solar Installers in North Branch
When switching to solar energy, many homeowners decide to use a solar installer since putting up solar panels yourself can be a difficult project. Some solar installers, particularly local ones, can help you take advantage of incentives in North Branch, therefore optimizing your ROI.
You can work with a local solar installer to get a free quote on the cost of solar panels for your home. Here are some nearby:
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 North Branch
Factors that Affect Solar Panel Costs in North Branch
For many North Branch homeowners, the decision to adopt solar energy depends on cost. However, the range of solar installation costs can be quite wide in North Branch, with typical prices between $20,000 to $40,000. There are various factors that considerably influence the price you'll pay, which we'll go over below.
Solar Equipment
The cost of solar panels 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 generation 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 and type of equipment you choose for your solar system can increase or decrease the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these are often more expensive than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have limited roof space or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to more savings over time. Also, if you want add-ons like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
Most solar companies in North Branch provide solar loans, which reduce your upfront costs of installing a solar system. When figuring out your overall cost, you should also calculate the interest you'll pay if you opt for a solar loan. Also, paying more upfront can reduce the total interest paid over time.
Solar Panel Installation Company
The final significant cost factor you should take into consideration is the installer you choose. Given the growing popularity of renewable energy solutions in North Branch, you'll have plenty of options to choose from, but each comes at various price points for labor and equipment. You may come across national solar installers that have lower prices because of their bigger brand name and access to bulk prices, or you might see small, local installation companies offering deals or promotions to compete with those larger companies.
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 | $19,461 | 9.7 years |
| 8 kW | $2.90 | $16,222 | $26,266 | 9.5 years |
| 10 kW | $2.84 | $19,880 | $33,230 | 9.4 years |
| 12 kW | $2.78 | $23,379 | $40,353 | 9.2 years |
| 14 kW | $2.73 | $26,719 | $47,635 | 9.0 years |
| 16 kW | $2.67 | $29,900 | $55,076 | 8.8 years |
| 18 kW | $2.61 | $32,921 | $62,676 | 8.6 years |
| 20 kW | $2.56 | $35,784 | $70,435 | 8.4 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 models and price points. To help you select the right company for you, here are some tips to keep in mind:
- Contract: When reading through your solar installer's contract, ask for clarification about any terms you're not sure of and be sure you understand what happens in scenarios such as a system component breaking or the company going out of business.
- Reputation: Your solar installer should have a solid reputation as a company and have demonstrated expertise in the field. A couple of ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has good reviews from previous customers.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and how much efficiency they need. Even though there are many options for which brand of solar panel you can get, not every company will have the exact one you may want or need, so make sure you peruse their list of offerings before deciding.
- Warranty: Companies typically offer different kinds of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
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 North Branch, MN Solar Cost FAQs
What is the average cost of installing solar panels in North Branch?
The average cost of solar panels in North Branch is about $14,200 for a 5-kW system and $28,400 for a 10-kW system before the ITC, but the real cost will depend on stuff like the kind of solar panels you want, what size system you need and how much energy you use.
What other factors should I consider in addition to cost when buying solar panels?
The initial cost is a very important factor to consider, but whether it's the most important for you depends on why you decided to go solar. In areas 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.
Does North Branch have a net metering program?
Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just offer you credit toward your future power bills.
How many solar panels should I get to power my home?
The exact number of solar panels you need depends on your household energy needs and how much 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 install 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.