Solar Panel Cost Guide in Northern, MN (2023 Update)
- Northern Solar Installation Cost: $14,850
- 25-Year Savings: $14,504
- Payback Period: 12.6 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Northern
Here's how much it might cost to go solar in Northern.
In Northern, solar panels cost about 2.84 per watt on average. The average Northern homeowner needs a 7.5-kilowatt system, which would cost about $14,850 with the federal tax credit, or $21,236 before the 30% tax credit is applied.
The prices above are just estimates to give you an idea of the cost of a solar panel system. The true cost of installing solar panels can vary based on several factors, such as how many panels you need, your energy usage and what company you go with. Many homeowners find installing solar panels is a sound investment. The average homeowner in Northern can save around $15,000 on their electricity bills over 20 years.
You can click the button below to get connected with a vetted solar company in Northern for a quote for your home.
Solar savings over time in Northern
| Year | Return on Investment |
|---|---|
| 1 years | $-13,676 |
| 3 years | $-11,328 |
| 5 years | $-8,979 |
| 7 years | $-6,631 |
| 9 years | $-4,283 |
| 11 years | $-1,934 |
| 13 years | $414 |
| 15 years | $2,762 |
| 17 years | $5,111 |
| 19 years | $7,459 |
| 21 years | $9,807 |
| 23 years | $12,156 |
| 25 years | $14,504 |
Top Solar Installers in Northern
DIY solar panel installation is a choice some homeowners opt for, but it's an undertaking that can take a lot of hard work. Using a solar panel installer can make your swap to solar power much easier. Plus, if you're unsure what kind of solar panels and equipment you may need, a solar installer can help you figure that out after a site survey and consultation.
If you're on the hunt for a solar installer in Northern, we've put together 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 Northern
Factors that Affect Solar Panel Costs in Northern
The cost of installing a solar system in Northern can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The biggest one is the size of the system your household needs, and other factors include the equipment you choose, financing options and the solar company you choose.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to some different factors. One of the main factors is the system size, which is measured in kilowatts (kW). Solar power systems that have better efficiency or power generation use 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 kind of equipment you choose for your solar system can raise or lower the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these often have a higher price tag than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have a small roof 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
Solar panels can save you money on power bills over many years, but they can also be a big investment. That's why many Northern homeowners opt to finance their solar panel systems to make paying for solar more affordable. However, the interest on solar loans also increases your total costs, so it's crucial to include that in your estimate as well. You can always reduce the total you pay in interest and possibly even your APR by putting more money down.
Solar Panel Installation Company
The final major cost factor you should consider is the installer you choose. Given the growing popularity of renewable energy solutions in Northern, you'll have many options to choose from, but each comes at varying price points for labor and equipment. Larger national companies usually 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 vehicle 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 | $11,177 | 13.2 years |
| 8 kW | $2.90 | $16,222 | $15,220 | 12.9 years |
| 10 kW | $2.84 | $19,880 | $19,423 | 12.6 years |
| 12 kW | $2.78 | $23,379 | $23,785 | 12.4 years |
| 14 kW | $2.73 | $26,719 | $28,306 | 12.1 years |
| 16 kW | $2.67 | $29,900 | $32,986 | 11.9 years |
| 18 kW | $2.61 | $32,921 | $37,824 | 11.6 years |
| 20 kW | $2.56 | $35,784 | $42,822 | 11.4 years |
How to Save on Solar Panels
The company that does your system 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 difficult, we have some tips to help you, such as:
- Solar Panel Brands: Each solar panel brand and kind offers varying levels of quality, durability and energy efficiency. They will come at different price points as well. The company you choose impacts which solar panel brands you have access to.
- Contract: Review the contract terms carefully to make sure you understand the cost breakdown, completion timeline rebates and warranties.
- Reputation: Companies that have been operating for many years likely have a good 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 support, such as part repairs and replacements.
- Installation Process: Homeowners should understand how exactly the installation process will go, as well as important factors like the project timeline.
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 Northern, MN Solar Cost FAQs
What is the average cost of installing solar panels in Northern?
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 higher quality panels, or if you have above-average energy needs. Conversely, you can spend less if you want a smaller solar panel system or less efficient solar panels.
Is cost the most important thing to consider when buying solar panels?
Cost is without a doubt one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
Is it worth going solar in Northern?
Solar panels can be a good investment for a majority of homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your electricity bills are already fairly low, solar panels might not be for you.
How many solar panels should I get to power my home?
To figure out what solar panel system size you need, you need to know how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can generally produce about 250 to 400 watt-hours per hour, the average home will need 20 to 35 panels.
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.