Solar Panel Cost Guide in Northfield, MN (Feb 2023)
- Northfield Solar Installation Cost: $14,274
- 25-Year Savings: $20,003
- Payback Period: 10.4 Years
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Updated January 20, 2023
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Average Cost of Solar Panels in Northfield
We break down average solar pricing in Northfield.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Northfield, the average cost of solar panels is $3 per watt. Using this figure, a typical 7.2 would cost about $14,274 before the 30% federal solar tax credit is applied.
Keep in mind that the figures above are only estimates based on the average energy use of Northfield homeowners. 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. With average savings of about $18,000 on power bills over 20 years, many homeowners in Northfield find going solar can pay off big.
To calculate your potential ROI and connect with a local solar installer, click the button below.
Solar savings over time in Northfield
| Year | Return on Investment |
|---|---|
| 1 years | $-12,903 |
| 3 years | $-10,161 |
| 5 years | $-7,418 |
| 7 years | $-4,676 |
| 9 years | $-1,934 |
| 11 years | $808 |
| 13 years | $3,550 |
| 15 years | $6,292 |
| 17 years | $9,034 |
| 19 years | $11,776 |
| 21 years | $14,519 |
| 23 years | $17,261 |
| 25 years | $20,003 |
Top Solar Installers in Northfield
DIY solar panel installation is a choice some homeowners opt for, but it's an undertaking that can use up a lot of your time and energy. Taking advantage of an installer can make switching to solar power much easier. Local solar installation companies can also help you maximize your return on investment by walking you through any local incentives you can take advantage of and by offering warranties and repairs.
If you'd like to go solar but still aren't certain which solar company to go with, here are our suggestions for providers in Northfield:
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
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
See all of the solar companies in Northfield
Factors that Affect Solar Panel Costs in Northfield
While the average cost of a solar system in Northfield is $14,274, your final cost may differ. There are quite a few factors that can have a significant impact on the cost of a solar system installation. Below are some of the more crucial things to keep in mind.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a few different factors. One of the major factors is the system size, which is measured in kilowatts (kW). Solar power systems that have better efficiency or power production 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. Some solar panel brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer better efficiency. In a city like Northfield, where sunlight isn't as abundant, efficiency can quickly pay off. Plus, if you have a small roof or you don't have a lot of space for your panels, higher efficiency options will be more impactful. 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 expensive, even if the investment pays off over time. Thankfully, almost every solar installer in the area provides financing options. Solar loans drastically decrease upfront costs for most homeowners, but they also lead to higher prices over time due to interest. However, the interest on solar loans also increases your all-in costs, so it's crucial to include that in your estimate as well. You can always bring down the total you pay in interest and in some cases 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 Northfield is the company you choose to install your solar system. As with choosing a company to renovate your kitchen, for instance, there's no shortage of solar installers that offer a range of services at different price points. Some companies 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 cost more. It's best to do some research and decide on the company that has the products, warranties and services you're looking for and also fits within 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 | $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 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
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
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.