Solar Panel Cost Guide in North Mankato, MN (2023 Update)
- North Mankato Solar Installation Cost: $14,139
- 25-Year Savings: $21,222
- Payback Period: 10.0 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in North Mankato
Find out how much it might cost to install solar panels in North Mankato.
Although the national average of solar panels is $2.66 per watt, solar panels in North Mankato generally cost around 2.84. Because a 7.1-kW system is needed to cover the energy needs of a typical home in North Mankato, the average price of going solar will be about $14,135 after claiming the federal solar tax credit of 30%.
Remember that the numbers above are only averages. The price you'll pay for solar may vary based on your household energy needs, the type of solar system you choose, your solar contractor and more. For many homeowners, the upfront investment in solar is worth paying. On average North Mankato homeowners see about $19,000 in savings on utility bills over 20 years.
For a customized quote from a local solar installer that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in North Mankato
| Year | Return on Investment |
|---|---|
| 1 years | $-12,860 |
| 3 years | $-10,301 |
| 5 years | $-7,742 |
| 7 years | $-5,183 |
| 9 years | $-2,624 |
| 11 years | $-65 |
| 13 years | $2,494 |
| 15 years | $5,052 |
| 17 years | $7,611 |
| 19 years | $10,170 |
| 21 years | $12,729 |
| 23 years | $15,288 |
| 25 years | $17,847 |
Top Solar Installers in North Mankato
DIY solar panel installation is a possibility, but it's an undertaking that can be a headache. Using a solar panel installer can make swapping over to solar power much easier. Also, companies with a good reputation that cost more upfront could actually save you money in the long term with their warranties, repair services and expert design.
If you're on the hunt for a solar company in North Mankato, the EcoWatch team has organized a list of our top suggestions here:
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 Mankato
Factors that Affect Solar Panel Costs in North Mankato
Though the average cost of a solar system in North Mankato is $14,135, your final cost may be higher or lower than that. There are many factors that can have a sizable impact on the cost of a solar panel installation. Below are some of the more crucial things to take into consideration.
Solar Equipment
One of the most important factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more energy your household uses, the larger your system will likely need to be. You can expect to spend around $2,840 per kilowatt in North Mankato. The solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you opt for the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. On the other hand, more efficient panels could save you more in the long run on your power bills. In addition, extra products, such as solar batteries, can bring your total well above the North Mankato average.
Solar Financing Terms
Most solar companies in North Mankato offer solar loans, which reduce the initial cost of installing solar panels. However, the interest on solar loans also adds to your overall costs, so it's crucial to keep that in mind as well. You can always lower the total you pay in interest and sometimes even your APR by making a larger down payment.
Solar Panel Installation Company
A final consideration when trying to evaluate the cost of solar for your home or business in North Mankato is the company you choose to install your solar panel system. Similar to choosing a company to install new cabinets, for example, there's no shortage of solar installers that offer a range of services at different price points. Some companies only sell high-quality, high-efficiency and high-price products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come with an above-average cost. It's best to do some research and decide on the company that offers the products, warranties and services you want 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 | $17,426 | 10.4 years |
| 8 kW | $2.90 | $16,222 | $23,552 | 10.2 years |
| 10 kW | $2.84 | $19,880 | $29,838 | 10.0 years |
| 12 kW | $2.78 | $23,379 | $36,283 | 9.8 years |
| 14 kW | $2.73 | $26,719 | $42,886 | 9.6 years |
| 16 kW | $2.67 | $29,900 | $49,649 | 9.4 years |
| 18 kW | $2.61 | $32,921 | $56,571 | 9.2 years |
| 20 kW | $2.56 | $35,784 | $63,652 | 9.0 years |
How to Save on Solar Panels
There are many 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:
- Reputation: Make sure your solar system installer has a good reputation by confirming it has certifications and licenses, checking its work history and reading reviews by previous customers and solar experts like the EcoWatch team.
- Warranty: If you care about the longevity of your solar energy system, ensuring your company offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Solar Panel Brands: Different companies have various brands and models of panels. If you want a specific brand, make sure the solar panel company you're considering has it.
- Contract: When looking through your solar installer's contract, ask for clarification about any terms you're not sure of and make sure you understand what happens in scenarios such as a system component breaking or the company going out of business.
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 Mankato, MN Solar Cost FAQs
What is the average cost of installing solar panels in North Mankato?
This is a difficult question to answer exactly, because the cost depends on a few different factors. Generally speaking, it costs about $14,200 for a 5-kW system and $28,400 for a 10-kW system after the ITC is applied. It will be more expensive if you want extra solar equipment or more efficient panels, or if you have higher-than-average energy consumption. On the flip side, you can spend less if you want a smaller solar panel system or less expensive solar panels.
Is cost the most important thing to consider when buying solar panels?
Cost is certainly one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Can you sell solar power back to the grid in North Mankato?
The majority of states have net metering programs of some kind. Through these, you can be compensated for the extra power your system produces 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.
How long do solar panels last in North Mankato?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is how much energy they produce will have decreased significantly after that point. You can decide to replace them once you've had them for that long or you can continue to use them at a lower efficiency.
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.