Solar Panel Cost Guide in Nowthen, MN (2024 Update)
- Nowthen Solar Installation Cost: $20,251
- 25-Year Savings: $20,062
- Payback Period: 14.7 Years
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Average Cost of Solar Panels in Nowthen
We go over average solar pricing in Nowthen.
In Nowthen, solar panels cost about 4 per watt on average.The average solar panel system size in Nowthen is around 7.2 kilowatts, meaning a cost of about $20,251 for a solar installation, or $28,959 before the 0 federal solar tax credit is applied.
Keep in mind that the figures above are only estimates based on the average Nowthen homeowner. The cost 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 utility bills over 20 years, many homeowners in Nowthen find going solar can pay off big.
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 | $-18,983 |
| 3 years | $-16,447 |
| 5 years | $-13,910 |
| 7 years | $-11,374 |
| 9 years | $-8,838 |
| 11 years | $-6,301 |
| 13 years | $-3,765 |
| 15 years | $-1,229 |
| 17 years | $1,308 |
| 19 years | $3,844 |
| 21 years | $6,380 |
| 23 years | $8,917 |
| 25 years | $11,453 |
Top Solar Installers in Nowthen
Trying to put up solar panels on your own can be a difficult undertaking, which is why using a solar installer is a good option for many homeowners. Some solar installers, particularly local ones, can help you take advantage of incentives in Nowthen, optimizing your ROI.
If you're on the hunt for a solar company in Nowthen, the EcoWatch team has organized a list of our top suggestions here:
Best National Provider
SunPower
- 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
- 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
Even though the average cost of a solar system in Nowthen is $20,251, your actual cost may be above or below the average. There are many factors that can have a significant impact on the cost of a residential solar panel installation. Below are some of the more crucial things to consider.
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, your total will most likely increase by around $4,030. The kind of solar panels and equipment you choose is another factor that will largely impact costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to come at a higher price. Moreover, solar equipment is more than just the solar panels themselves. You’ll also need to decide on the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when researching a solar system that falls within your budget.
Solar Financing Terms
Solar panels can save you money on energy bills over many years, but they can also be a significant investment. That’s why many Nowthen homeowners decide to finance their solar panel systems to make going solar more affordable.However, the interest on solar loans also increases your total costs, so it’s important to consider that as well. You can always bring down the total you pay in interest and sometimes even your APR by putting more money down.
Solar Panel Installation Company
The solar company you opt for to handle your switch to solar energy can play a role in your total costs. There are about 3 solar installation companies in Nowthen, and each can charge different amounts for labor and equipment.Larger national companies typically have lower costs, but some local companies undercut them by offering sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or add-on 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 | $11,092 | 15.3 years |
| 8 kW | $4.11 | $23,019 | $15,241 | 15.0 years |
| 10 kW | $4.03 | $28,210 | $19,615 | 14.7 years |
| 12 kW | $3.95 | $33,175 | $24,216 | 14.5 years |
| 14 kW | $3.87 | $37,914 | $29,041 | 14.2 years |
| 16 kW | $3.79 | $42,428 | $34,093 | 13.9 years |
| 18 kW | $3.71 | $46,716 | $39,370 | 13.6 years |
| 20 kW | $3.63 | $50,778 | $44,873 | 13.3 years |
How to Save on Solar Panels
The solar company you choose will be a major factor in determining not only your overall costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are several important things you should keep in mind, including:
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for sustainable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a solid reputation and is qualified to install your solar system. Another way you can check your installer’s reputation is by reading reviews.
- Solar Panel Brands: The kind of solar panel you need to get plays a part in which company you should choose, since different companies provide different panels.
- Warranty: If you’re worried about the longevity of your solar panel system, checking if your installer offers a 25-year, all-inclusive warranty can help put you at ease.
- Contract: Even though reading through a contract can be tedious, it’s important to do it carefully so you can make sure you understand what services your solar company will provide and the terms of the warranty.
Best National Provider
SunPower
- 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
- 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
How much does it cost to install solar panels in Nowthen?
This is a tough question to answer precisely, because the cost depends on many factors. Generally 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 above-average energy needs. Conversely, you can spend less if you want a smaller solar panel system or less efficient solar panels.
Is it better to lease or buy solar panels in Nowthen?
Leasing solar panels can be an attractive choice, because it often comes with low or $0 upfront payments. The downside 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 incentives and your home value won’t increase. Buying solar panels is a better way to go if you want to maximize your savings.
Can you sell solar power back to the grid in Nowthen?
Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just give you credit toward your future power bills.
How often do you have to replace solar panels?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can opt to replace them once you've had them for that long or you can continue to use them at a lower efficiency.
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.