Solar Panel Cost Guide in Nowthen, MN (2023 Update)
- Nowthen Solar Installation Cost: $14,274
- 25-Year Savings: $20,059
- Payback Period: 10.4 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Nowthen
Here's how much it might cost to install solar panels in Nowthen.
In Nowthen, solar panels cost about 2.84 per watt on average. The average solar panel system size in Nowthen is around 7.2 kilowatts, meaning a cost of about $14,274 for a solar installation, or $20,412 before the 30% federal solar tax credit is applied.
The prices above are just estimates to give you an idea of the cost of a solar panel system. The actual cost of making the switch to solar can vary quite a bit based on a few factors, such as what size system you need, your energy consumption and what company you go with. But, after you've paid the upfront cost of installation, the payback for most homeowners is typically fruitful, with a net average savings of about $18,000 over 20 years on electricity bills.
You can click the button below to get connected with a pre-vetted solar company in Nowthen that can help you get a more accurate cost estimate for your home.
Solar savings over time in Nowthen
| Year | Return on Investment |
|---|---|
| 1 years | $-12,901 |
| 3 years | $-10,154 |
| 5 years | $-7,407 |
| 7 years | $-4,661 |
| 9 years | $-1,914 |
| 11 years | $833 |
| 13 years | $3,579 |
| 15 years | $6,326 |
| 17 years | $9,072 |
| 19 years | $11,819 |
| 21 years | $14,566 |
| 23 years | $17,312 |
| 25 years | $20,059 |
Top Solar Installers in Nowthen
Many homeowners opt for a solar panel installer since installing solar panels yourself can be hard. The expertise that solar companies provide can be invaluable as well, particularly if you don't quite know what brand of solar equipment would be right for your home.
Working with a professional solar installer can help your solar project go smoothly. Here are our recommendations:
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 Nowthen
Factors that Affect Solar Panel Costs in Nowthen
There are a number of factors that can determine your total installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar panels.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a variety of factors. One of the notable factors is the system size, which is measured in kilowatts (kW). Solar power systems that have greater efficiency or power production require 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. There are a lot of different solar panel brands and the one you choose also changes the cost. Generally, the brands that offer higher efficiency tend to also cost more. Plus, the type of equipment you want to install can affect your total cost. If you only need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Most solar companies in Nowthen offer solar loans, which reduce the initial cost of installing solar. However, the interest on solar loans also adds to your overall costs, so it's important to keep that in mind 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 solar company you go with to handle your switch to clean energy can have an effect on your total costs. There are about 3 solar installation companies in Nowthen, and each can charge different amounts for labor and equipment. Additionally, some companies in Nowthen are more knowledgeable about local solar incentives and can help you learn about additional rebates or tax exemptions. However, they may charge more for that service. Even if they cost more upfront, they could end up saving you 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 | $16,290 | 10.8 years |
| 8 kW | $2.90 | $16,222 | $22,038 | 10.6 years |
| 10 kW | $2.84 | $19,880 | $27,945 | 10.4 years |
| 12 kW | $2.78 | $23,379 | $34,012 | 10.2 years |
| 14 kW | $2.73 | $26,719 | $40,237 | 10.0 years |
| 16 kW | $2.67 | $29,900 | $46,621 | 9.8 years |
| 18 kW | $2.61 | $32,921 | $53,164 | 9.6 years |
| 20 kW | $2.56 | $35,784 | $59,867 | 9.4 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. Because choosing a company can be a tough decision, we have some tips to help you, such as:
- Solar Panel Brands: Different companies carry various brands and models of panels. If you prefer a specific brand, make sure the solar company you're considering has it.
- Warranty: Many companies offer different types of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Reputation: Your solar installer should have a sound reputation as a company and have demonstrated 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 past customers.
- Contract: It's important to read your solar installer's contract closely to understand what services they will provide, what the warranty covers and what you can expect about your solar system's energy production.
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 Nowthen, MN Solar Cost FAQs
What is the average cost of installing solar panels in Nowthen?
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. You can expect to pay more if you want additional solar equipment or more efficient panels, or if you have higher-than-average energy needs. Conversely, you can spend less if you choose a smaller solar panel system or cheaper solar panels.
Are solar panels free in Nowthen?
You can't get solar panels for free in Nowthen. 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 rather own your solar panels, you can finance them with a solar loan.
Can you sell solar power back to the grid in Nowthen?
Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just offer you credit toward your future energy bills.
What solar power system size is right for 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.