Solar Panel Cost Guide in Northfield, MN (2024 Update)

  • Northfield Solar Installation Cost: $20,253
  • 25-Year Savings: $11,733
  • Payback Period: 14.8 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated February 03, 2024

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We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Northfield

Let’s have a look at the average cost of solar 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 4 per watt.To cover the typical energy usage of the average home in Northfield, most homeowners require a 7.2-kilowatt system. Using the figure above, a solar installation costs about $20,253, or $28,962 before the federal solar tax credit of 0 is applied.

The true cost of your system can go above or below the average in Northfield based on several factors, such as the model of solar panels you choose and the solar installer you hire.Even with 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 advantages of solar.

To calculate your potential savings and connect with a local solar expert, click the button below.

Solar savings over time in Northfield

Year Return on Investment
1 years $-18,974
3 years $-16,415
5 years $-13,856
7 years $-11,297
9 years $-8,738
11 years $-6,179
13 years $-3,620
15 years $-1,061
17 years $1,498
19 years $4,056
21 years $6,615
23 years $9,174
25 years $11,733

Top Solar Installers in Northfield

Many homeowners decide to hire a solar panel company since trying to install solar panels on your own can be hard. A solar installer can also help save you money over the lifespan of your system by offering warranties, repairs and system component replacements.

If you’d like to make the switch to solar but still aren’t certain which solar panel installer to go with, here are our recommendations for providers near you:

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Social Impact

Palmetto Solar

★★★★★
4.0

  • Expansive service area
  • Makes charitable contributions
  • Certified B Corp
  • No leases or PPAs
  • Quality of installation may vary by location

Best Technology

Tesla Energy

★★★★★
3.2

  • 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 install a solar energy system rests on 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 few factors that greatly influence the price you’ll pay, which we'll go over below.

Solar Equipment

When it comes to estimating the cost of a solar system in Northfield, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are chiefly based on your home’s energy consumption, which you can determine by looking at past electricity bills. Your total cost can increase by around $4,030 for each additional kilowatt you need.There are many different solar panel brands and the one you choose also affects the cost. In general, the brands that are more efficient tend to also be more expensive. Additionally, the type of equipment you’re looking to get can affect your total cost. If you only need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.

Solar Financing Terms

Many homeowners find the average cost of solar in Northfield to be too costly, even if the investment pays off over time. Thankfully, almost every solar company in the area offers financing options. Solar loans greatly decrease upfront costs in most cases, but they also result in a higher cost over time due to interest.However, the interest on solar loans also increases your all-in costs, so it’s crucial to take that into consideration as well. You can always bring down 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 take into consideration is the installer you choose. Given the growing popularity of sustainable energy solutions in Northfield, you’ll have lots of options to choose from, but each comes at various price points for labor and equipment.Larger national companies usually have lower costs, but some local companies undercut them by promoting sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or extra 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 $4.19 $17,603 $11,043 15.4 years
8 kW $4.11 $23,019 $15,175 15.1 years
10 kW $4.03 $28,210 $19,533 14.8 years
12 kW $3.95 $33,175 $24,117 14.5 years
14 kW $3.87 $37,914 $28,926 14.2 years
16 kW $3.79 $42,428 $33,961 13.9 years
18 kW $3.71 $46,716 $39,222 13.6 years
20 kW $3.63 $50,778 $44,708 13.3 years

How to Save on Solar Panels

The company that does your solar system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Since choosing a company can be a challenge, we have some tips to help you, such as:

  • Reputation: Companies that have been in business for many years likely have a high 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.
  • Contract: Before you sign a contract with a solar installer, be sure to look it over carefully so you understand the terms. Also, ask questions if you’re not certain about some of the terms, such as what to do if a component breaks or malfunctions and what services you can expect from them.
  • Solar Panel Brands: Each solar panel brand and model has varying levels of quality, durability and efficiency. They will come at different costs as well. The company you choose has an impact on which solar panel brands you have access to.
  • Installation Process: An important thing to understand when going solar is the installation process itself. Be sure to align on any details you need to know with your solar installer, such as what permits you should acquire and how long the project will take.

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Social Impact

Palmetto Solar

★★★★★
4.0

  • Expansive service area
  • Makes charitable contributions
  • Certified B Corp
  • No leases or PPAs
  • Quality of installation may vary by location

Best Technology

Tesla Energy

★★★★★
3.2

  • 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

How much does it cost to install solar panels in Northfield?

This is a hard question to answer exactly, because the cost depends on many factors. Broadly speaking, it costs about $20,150 for a 5-kW system and $40,300 for a 10-kW system after the ITC is applied. You can expect to pay more if you want other solar equipment or higher quality panels, or if you have higher-than-average energy consumption. On the other hand, you can spend less if you want a smaller solar panel system or less expensive solar panels.

Is it better to lease or buy solar panels in Northfield?

Leasing solar panels can be an attractive choice, as it usually 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 your property value?

Solar panels can increase your property’s value significantly as long as you buy or finance your panels and don’t choose a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% with a solar installation."

How many solar panels should I get to power my home?

To figure out how many solar panels you need, you should find out how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can typically produce about 250 to 400 watt-hours per hour, the average household 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.

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