Solar Panel Cost Guide in Northfield, MN (2023 Update)
- Northfield Solar Installation Cost: $14,273
- 25-Year Savings: $20,004
- Payback Period: 10.4 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Northfield
See how much it might cost to install solar panels in Northfield.
In Northfield, solar panels cost about 2.84 per watt on average. Using this figure, a typical 7.2-kW system would cost about $14,274 before the 30% federal solar tax credit is applied.
The actual price you pay can go higher or lower than the average in Northfield depending on a few factors, such as the brand of solar panels you choose and the solar company you hire. Despite the large initial cost, the average Northfield homeowner can save about $18,000 on their energy bills over 20 years, which is one of the positives of solar.
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 Northfield
| Year | Return on Investment |
|---|---|
| 1 years | $-14,158 |
| 3 years | $-13,930 |
| 5 years | $-13,701 |
| 7 years | $-13,473 |
| 9 years | $-13,244 |
| 11 years | $-13,016 |
| 13 years | $-12,787 |
| 15 years | $-12,559 |
| 17 years | $-12,330 |
| 19 years | $-12,102 |
| 21 years | $-11,873 |
| 23 years | $-11,645 |
| 25 years | $-11,416 |
Top Solar Installers in Northfield
Installing solar panels yourself can be a time-consuming undertaking, which is why getting a solar installation company is a good option for many homeowners. Also, if you'd like to maximize your investment in solar power, using a solar installer can help with that too. Different providers can offer warranties, expertise on solar panel installation and sometimes even information on local incentives and net metering programs.
There are various licensed solar professionals that can help you install your solar system. Here are our suggestions:
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 Northfield
Factors that Affect Solar Panel Costs in Northfield
For many Northfield homeowners, the decision to adopt solar energy comes down to cost. However, the range of solar installation costs can be quite wide in Northfield, with typical prices between $20,000 to $40,000. There are a number of factors that greatly influence the price you'll pay, which we'll go over below.
Solar Equipment
The size of the solar panel system you need for your household, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by about $2,840. Some solar brands — like Maxeon from SunPower — cost more upfront but also tend to offer better efficiency. In a city like Northfield, where sunlight isn't as abundant, efficiency can quickly pay off. In addition, if you have a small roof or you don't have a lot of space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Northfield to be prohibitively costly, even if the investment pays off over time. Thankfully, almost every solar company in the area provides access to financing options. Solar loans drastically decrease upfront costs in most cases, but they also result in a higher cost over time due to interest. When considering your overall cost, you should also calculate the interest you'll pay if you choose to go with a solar loan. Also, paying more on your down payment can reduce the total interest paid over time.
Solar Panel Installation Company
The solar company you choose to handle your switch to renewable energy can have an effect on your total costs. There are about 3 solar panel companies in Northfield, and each can charge varying amounts for labor and equipment. Additionally, some companies in Northfield are more knowledgeable about local solar incentives and can help you take advantage of additional rebates or tax exemptions. Though, they may charge more for walking you through the whole process. Even if they cost more upfront, they could help you save more money in the long run.
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 | $16,241 | 10.8 years |
| 8 kW | $2.90 | $16,222 | $21,972 | 10.6 years |
| 10 kW | $2.84 | $19,880 | $27,863 | 10.4 years |
| 12 kW | $2.78 | $23,379 | $33,913 | 10.2 years |
| 14 kW | $2.73 | $26,719 | $40,121 | 10.0 years |
| 16 kW | $2.67 | $29,900 | $46,489 | 9.8 years |
| 18 kW | $2.61 | $32,921 | $53,016 | 9.6 years |
| 20 kW | $2.56 | $35,784 | $59,702 | 9.4 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 pick the right company for you, here are some tips to keep in mind:
- Contract: Review the contract terms closely to make sure you understand the total cost, project timeline incentives and warranties.
- Reputation: Your solar installer should have a good reputation as a company and have proven expertise in the field. A couple of ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has good reviews from previous customers.
- Solar Panel Brands: The type of solar panel you need to install plays a role in which company you should choose, since different companies have different panels.
- Warranty: If you're concerned about the endurance of your solar panel system, verifying that your installer offers a 25-year, all-inclusive warranty can help put you at ease.
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 Northfield, MN Solar Cost FAQs
What is the average cost of installing solar panels in Northfield?
This is a difficult question to answer precisely, because the cost depends on a variety of factors. Broadly speaking, it costs about $14,200 for a 5-kW system and $28,400 for a 10-kW system after the ITC is applied. You can expect to pay more if you want additional 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 choose a smaller solar panel system or less expensive solar panels.
Should I lease or buy solar panels in Northfield?
Leasing solar panels can be an appealing choice, because it often comes with low or $0 upfront payments. The drawback is that you won't be able to save as much. If you lease, you don't own the system, so you can't claim any tax rebates and credits and your home value won't increase. Buying solar panels is a better option if you want to get the most savings.
Do solar panels increase the value of your home?
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 Northfield is currently $253,500, which means you could be looking at a value of about $10,394 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Northfield is a rewarding investment.
How often do you have to replace solar panels?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher level of energy production.
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.