Solar Panel Cost Guide in Oak Grove, MN (2023 Update)
- Oak Grove Solar Installation Cost: $14,274
- 25-Year Savings: $20,910
- Payback Period: 10.1 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Oak Grove
Find out what the average cost of a solar system is in Oak Grove.
In Oak Grove, solar panels cost about 2.84 per watt on average. The average solar panel system size in Oak Grove 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 how much solar panels could cost. The actual cost of making the switch to solar can vary based on several factors, such as how many panels you need, your energy usage and what solar installer you go with. For many homeowners, the upfront cost of solar panels is worth paying. On average homeowners in Oak Grove see about $19,000 in savings on utility bills over 20 years.
Click the button below to get connected to a vetted solar panel company in Oak Grove for a customized quote.
Solar savings over time in Oak Grove
| Year | Return on Investment |
|---|---|
| 1 years | $-12,866 |
| 3 years | $-10,052 |
| 5 years | $-7,237 |
| 7 years | $-4,422 |
| 9 years | $-1,608 |
| 11 years | $1,207 |
| 13 years | $4,022 |
| 15 years | $6,836 |
| 17 years | $9,651 |
| 19 years | $12,466 |
| 21 years | $15,281 |
| 23 years | $18,095 |
| 25 years | $20,910 |
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:
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 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 Equipment
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.
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 Oak Grove, MN Solar Cost FAQs
What is the average cost of installing solar panels in Oak Grove?
This is a hard question to answer exactly, because the cost depends on many 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. It will be more expensive if you want additional solar equipment or higher quality panels, or if you have higher-than-average energy usage. Conversely, you can spend less if you choose a smaller solar panel system or cheaper solar panels.
Is cost the most important consideration when buying solar panels?
The initial cost is a crucial factor to consider, but whether it's the most important for you depends on your reasons for going solar. In places where rooftop space is limited, efficiency can trump the cost. Other factors that are important to take into account are the quality and durability of your solar panels.
Is switching to solar power worth it?
Whether or not solar panels are worth it depends on a variety of factors like local electricity rates and how much direct sunlight your roof gets.
How many solar panels do I need to power my home?
The exact number of solar panels you need depends on your household energy usage and the amount of sunlight your roof gets. You can take a look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to buy between 20 and 35 panels to cover their typical energy usage.
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.