Solar Panel Cost Guide in Oak Grove, MN (Feb 2023)
- Oak Grove Solar Installation Cost: $14,274
- 25-Year Savings: $20,910
- Payback Period: 10.1 Years
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Top Solar Installers in Oak Grove
Putting up solar panels by yourself can be a difficult project, which is why hiring a solar installer is a good option for many homeowners. Plus, if you're not certain what kind of solar panels and equipment you may need, a solar company can help you figure that out after a site survey and consultation.
You can work with a local solar installer to get a free estimate on how much solar panels could cost for your home. Here are some near you:
See all of the solar companies in Oak Grove
Factors that Affect Solar Panel Costs in Oak Grove
The cost of installing a solar system in Oak Grove can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The biggest one is your system size, and other factors include equipment choices, financing options and the solar installer you choose.
Solar system size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of going solar. That's why it's a priority to accurately ascertain the size of the solar energy system needed for your home by figuring out your average energy use. The kind of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you get the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. However, more efficient panels could save you more over time on your electric bills. In addition, add-on products, like solar batteries, can bring your total well above the Oak Grove average.
Solar Financing Terms
Many homeowners find the average cost of solar in Oak Grove 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 for most homeowners, but they also result in paying more over time because of interest. You'll have to consider the long-term cost of financing options, including the total interest you'll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the principal cost. Making a larger down payment or finding a solar loan with a low APR could reduce your costs considerably.
Solar Panel Installation Company
A final factor to keep in mind when trying to evaluate the cost of solar for your home or business in Oak Grove is the company you hire to install your solar system. Similar to choosing a company to build a deck or pool, for instance, there are plenty of solar installers that provide a range of services for different budgets. You may come across national solar installers that have lower prices because of their larger brand name and access to bulk prices, or you might see small, local installation companies offering deals or promotions to compete with those larger companies.
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||$17,001||10.5 years|
|8 kW||$2.90||$16,222||$22,986||10.3 years|
|10 kW||$2.84||$19,880||$29,131||10.1 years|
|12 kW||$2.78||$23,379||$35,434||9.9 years|
|14 kW||$2.73||$26,719||$41,896||9.7 years|
|16 kW||$2.67||$29,900||$48,518||9.5 years|
|18 kW||$2.61||$32,921||$55,298||9.3 years|
|20 kW||$2.56||$35,784||$62,237||9.1 years|
How to Save on Solar Panels
Since the model of solar panels and the installer you choose has an impact on your costs and your system's durability and efficiency, it's important to pick the right ones for you. Here are some things to keep in mind to help with your decision:
- Contract: Before signing a contract with a solar installer, be sure to look it over completely so you understand the terms. Also, ask questions if you're not sure about some of the terms, such as what to do if a component breaks or malfunctions and if there are any guarantees about energy production.
- Solar Panel Brands: Each solar panel brand and type offers varying levels of quality, durability and efficiency. They will come at different prices as well. The company you choose affects which solar panel brands you have access to.
- 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 solid reputation as a company and have verifiable 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 satisfied reviews from previous customers.
EcoWatch's Oak Grove, MN Solar Cost FAQs
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.