Solar Panel Cost Guide in North Oaks, MN (2024 Update)
- North Oaks Solar Installation Cost: $20,356
- 25-Year Savings: $21,441
- Payback Period: 14.2 Years
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Average Cost of Solar Panels in North Oaks
Here’s how much it might cost to make the switch to solar in North Oaks.
The average cost of a solar system in North Oaks is 4 per watt.Because a 7.2-kW system is needed to cover the energy consumption of a typical home in North Oaks, the average price of going solar will be about $20,356 after claiming the federal solar tax credit of 0.
Bear in mind that the figures above are only estimates based on the average North Oaks homeowner. The cost of a solar system for your home may be different depending on factors unique to your situation, like your household energy use and solar contractor.Even with the high upfront cost, the average North Oaks homeowner can save around $19,000 on their electricity bills over 20 years, which is one of the perks of solar.
Click the button below to get connected to a highly rated solar company in North Oaks for a custom quote.
Solar savings over time in North Oaks
| Year | Return on Investment |
|---|---|
| 1 years | $-19,076 |
| 3 years | $-16,518 |
| 5 years | $-13,959 |
| 7 years | $-11,400 |
| 9 years | $-8,841 |
| 11 years | $-6,282 |
| 13 years | $-3,723 |
| 15 years | $-1,164 |
| 17 years | $1,395 |
| 19 years | $3,954 |
| 21 years | $6,513 |
| 23 years | $9,071 |
| 25 years | $11,630 |
Top Solar Installers in North Oaks
When going solar, many homeowners decide to use a solar company since installing a solar system yourself can be a difficult project. Some solar installers, particularly local ones, can help you make the most of incentives in North Oaks, optimizing your ROI.
Working with a licensed solar company can help you make the most of your investment in solar. Here are our recommendations:
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 Oaks
Factors that Affect Solar Panel Costs in North Oaks
The cost of installing a solar system in North Oaks can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The biggest one is your system size, and other factors include equipment choices, financing options and the solar installer you choose.
Solar Equipment
One of the most important factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household consumes, the larger your system will likely need to be. You can expect to spend about $4,030 per kilowatt in North Oaks.The type of solar panels and equipment you want is another factor that will greatly affect costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to cost more. Furthermore, 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 for a solar system that’s in your budget.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be a challenge. Solar loans are provided by most installers in North Oaks, which can bring down, or in some cases completely eliminate, your upfront costs to make solar more affordable.Though solar loans make going solar more accessible for North Oaks homeowners, they can also raise the total you pay for your system due to interest. If you put down a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
Lastly, the company you get to install your solar panels can affect your pricing. North Oaks’s solar companies all have different labor costs and add varying upcharges to 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 with an above-average cost. It’s best to do some research and decide on the company that provides 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 | $4.19 | $17,603 | $12,153 | 14.8 years |
| 8 kW | $4.11 | $23,019 | $16,655 | 14.5 years |
| 10 kW | $4.03 | $28,210 | $21,383 | 14.2 years |
| 12 kW | $3.95 | $33,175 | $26,337 | 13.9 years |
| 14 kW | $3.87 | $37,914 | $31,517 | 13.7 years |
| 16 kW | $3.79 | $42,428 | $36,922 | 13.4 years |
| 18 kW | $3.71 | $46,716 | $42,552 | 13.1 years |
| 20 kW | $3.63 | $50,778 | $48,409 | 12.8 years |
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because picking a company can be a tough decision, we have some tips to help you, such as:
- Contract: When reading over your solar company’s contract, ask questions about any terms you’re not sure of and be sure you understand what happens in scenarios like a system component breaking or if the company goes out of business.
- Installation Process: An important thing to understand when adopting solar energy is the installation process itself. Be sure to align on any details you should know with your solar company, such as what permits you should secure and what the project timeline is.
- Solar Panel Brands: Different companies carry different brands and types of panels. If you want a specific brand, make sure the solar company you’re considering has it.
- Reputation: Solar companies that have great reviews from their customers and that have been operating for many years most likely offer good-quality solar panel installation and expertise.
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 Oaks, MN Solar Cost FAQs
What is the average cost of installing solar panels in North Oaks?
This is a difficult question to answer precisely, because the cost depends on many factors. Generally speaking, it costs about $20,150 for a 5-kW system and $40,300 for a 10-kW system after the ITC is applied. It will cost more if you want other solar equipment or higher quality panels, or if you have higher-than-average energy consumption. On the flip side, you can spend less if you choose a smaller solar panel system or less efficient solar panels.
Can you get solar panels for free in North Oaks?
You can’t get solar panels for free in North Oaks. However, you may still be able to get them on a lower budget. You can lease solar panels for a low upfront cost or, if you’d prefer to own your solar panels, you can finance them with a solar loan.
Do solar panels increase your property value?
Installing solar panels on your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in North Oaks is currently $888,153, so you can expect a value of about $36,414 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in North Oaks is a rewarding investment.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy consumption 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.