Solar Panel Cost Guide in Norwood Young America, MN (2025 Update)
- Norwood Young America Solar Installation Cost: $20,100
- 25-Year Savings: $19,647
- Payback Period: 14.9 Years
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Average Cost of Solar Panels in Norwood Young America
We break down average solar pricing in Norwood Young America.
Although the national average of solar panels is $2.66 per watt, solar panels in Norwood Young America typically cost about 4.To cover the typical energy usage of the average home in Norwood Young America, most homeowners require a 7.1-kilowatt system. Using the figure above, a solar installation costs around $20,100, or $28,743 before the federal solar tax credit of 0 is applied.
How much you pay can go higher or lower than the average in Norwood Young America based on a few factors, such as the kind of solar panels you choose and the solar company you hire.Many homeowners find installing solar panels is a rewarding investment. The average homeowner in Norwood Young America can save around $18,000 on their power bills over 20 years.
To calculate your potential ROI and connect with a local solar expert, click the button below.
Solar savings over time in Norwood Young America
Year | Return on Investment |
---|---|
1 years | $-18,821 |
3 years | $-16,262 |
5 years | $-13,703 |
7 years | $-11,144 |
9 years | $-8,585 |
11 years | $-6,026 |
13 years | $-3,467 |
15 years | $-908 |
17 years | $1,650 |
19 years | $4,209 |
21 years | $6,768 |
23 years | $9,327 |
25 years | $11,886 |
Top Solar Installers in Norwood Young America
DIY solar panel installation is a possibility, but it's an undertaking that can be a headache. Going with a solar company can make switching to solar power much easier. Another great thing about going with a reliable solar installer is that it'll likely provide warranties and free repairs, which help protect your investment.
If you're searching for a solar installer in Norwood Young America, we've organized a list of our top suggestions here:
See all of the solar companies in Norwood Young America
Factors that Affect Solar Panel Costs in Norwood Young America
There are several factors that can play into your solar system installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that does the installation.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of going solar. Because of that, it’s important to accurately assess the size of the solar energy system needed for your home by figuring out your energy needs.The kind of solar panels and equipment you get is another factor that will largely affect costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to be more expensive. Further, solar equipment goes beyond just the solar panels themselves. You’ll also need to make decisions about the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when searching for a solar system that’s in your budget.
Solar Financing Terms
Solar panels can save you money on power bills over time, but they can also be a big investment. That’s why many Norwood Young America homeowners decide to finance their solar panel systems to offset upfront costs.Though solar loans make adopting solar energy more accessible for Norwood Young America homeowners, they can also raise the total you pay for your system, depending on your interest rate. 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 choose to install your solar panel system can influence your pricing. Norwood Young America’s solar companies all have different labor costs and add varying upcharges to equipment. Companies that only sell high-quality, high-efficiency and high-price products — 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 find a company that provides the products, warranties and services you want and also is 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 | $4.19 | $17,603 | $10,869 | 15.5 years |
8 kW | $4.11 | $23,019 | $14,944 | 15.2 years |
10 kW | $4.03 | $28,210 | $19,244 | 14.9 years |
12 kW | $3.95 | $33,175 | $23,770 | 14.6 years |
14 kW | $3.87 | $37,914 | $28,521 | 14.3 years |
16 kW | $3.79 | $42,428 | $33,498 | 14.0 years |
18 kW | $3.71 | $46,716 | $38,701 | 13.7 years |
20 kW | $3.63 | $50,778 | $44,130 | 13.4 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you pick the right company for you, here are some tips to keep in mind:
- Warranty: A high-quality company rises above other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Solar Panel Brands: The kind of solar panel you want to install plays a part in which installer you should choose, since different companies provide different panels.
- Reputation: Your solar installer should have a sound reputation as a company and have proven expertise in the field. Two ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from previous customers.
- Contract: It’s important to read through your solar installer’s contract carefully to understand what services they will provide, what the warranty covers and what expectations you should have about the installation process.
EcoWatch's Norwood Young America, MN Solar Cost FAQs
How much does it cost to install solar panels in Norwood Young America?
This is a hard question to answer precisely, because the cost depends on a variety of 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. It will be more expensive if you want additional solar equipment or more efficient panels, or if you have above-average energy consumption. On the flip side, you can spend less if you opt for a smaller solar panel system or less expensive solar panels.
Can you get solar panels for free in Norwood Young America?
You can’t get solar panels for free in Norwood Young America. However, you may still be able to install 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.
Is it worth going solar in Norwood Young America?
Whether or not solar panels are worth it depends on a variety of factors like local electricity rates and the amount of direct sunlight your roof gets.
How many solar panels do I need to power my home?
To figure out what solar panel system size you need, you need to know how much energy your home needs 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 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.