Solar Panel Cost Guide in Oak Park Heights, MN (2023 Update)
- Oak Park Heights Solar Installation Cost: $14,355
- 25-Year Savings: $21,431
- Payback Period: 10.0 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Oak Park Heights
Find out what the average cost of solar panels are in Oak Park Heights.
Although the national average of solar panels is $2.66 per watt, solar panels in Oak Park Heights generally cost around 2.84. Because a 7.2-kW system is needed to cover the energy usage of a typical home in Oak Park Heights, the average price of going solar will be about $14,353 after claiming the federal solar tax credit of 30%.
These figures are just averages, and how much solar costs for you may differ based on factors unique to your home and what company you go with. With average savings of about $19,000 on electricity bills over 20 years, many homeowners in Oak Park Heights find going solar can pay off big.
You can click the button below to get connected with a vetted solar installer in Oak Park Heights that can help you get a more accurate cost estimate for your home.
Solar savings over time in Oak Park Heights
| Year | Return on Investment |
|---|---|
| 1 years | $-13,075 |
| 3 years | $-10,517 |
| 5 years | $-7,958 |
| 7 years | $-5,399 |
| 9 years | $-2,840 |
| 11 years | $-281 |
| 13 years | $2,278 |
| 15 years | $4,837 |
| 17 years | $7,396 |
| 19 years | $9,955 |
| 21 years | $12,514 |
| 23 years | $15,072 |
| 25 years | $17,631 |
Top Solar Installers in Oak Park Heights
Many homeowners choose to hire a solar panel installer since trying to put up solar panels by yourself can be hard. Solar companies offer key benefits that can help you get the most out of your investment, like warranties, monitoring and free repairs.
Working with a professional solar company can help you make the most of your investment in solar. 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 Oak Park Heights
Factors that Affect Solar Panel Costs in Oak Park Heights
There are a number of factors that can influence 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
Solar system size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of going solar. That's why it's crucial to accurately ascertain the size of the solar energy system needed for your home by figuring out your average energy use. The 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, higher efficiency could save you more in the long run on your energy bills. Additionally, add-on products, such as solar batteries, can bump up your total well above the Oak Park Heights average.
Solar Financing Terms
Many homeowners find the average cost of solar in Oak Park Heights to be prohibitively expensive, even if the investment pays off over time. Thankfully, nearly every solar company in the area offers financing options. Solar loans drastically decrease upfront costs for most homeowners, but they also lead to paying more over time due to interest. You'll have to consider the long-term cost of loans, including the total interest you'll pay over the length of the loan. If you're only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or finding a solar loan with a low APR could reduce your costs remarkably.
Solar Panel Installation Company
A final consideration when trying to estimate the cost of solar for your home or business in Oak Park Heights is the company you get to install your solar system. As with choosing a company to renovate your kitchen, for example, there's no shortage of solar installers that offer a range of services for different budgets. Larger national companies usually have lower costs, but some local companies compete with them by offering sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or extra 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 | $2.95 | $12,405 | $17,331 | 10.4 years |
| 8 kW | $2.90 | $16,222 | $23,426 | 10.2 years |
| 10 kW | $2.84 | $19,880 | $29,680 | 10.0 years |
| 12 kW | $2.78 | $23,379 | $36,093 | 9.8 years |
| 14 kW | $2.73 | $26,719 | $42,665 | 9.6 years |
| 16 kW | $2.67 | $29,900 | $49,396 | 9.4 years |
| 18 kW | $2.61 | $32,921 | $56,286 | 9.2 years |
| 20 kW | $2.56 | $35,784 | $63,335 | 9.0 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 select the right company for you, here are some tips to keep in mind:
- Solar Panel Brands: Different companies carry various brands and types of panels. If you want a specific brand, make sure the solar panel installer you're considering has it.
- Warranty: Warranties that cover replacement parts and repairs over a long period of time such as 25 years are the gold standard in the business, and offering such a warranty is one mark of a good company.
- Installation Process: An important thing to understand when adopting solar power is the installation process itself. Be sure to clarify any details you need to know with your solar company, such as what permits you should secure and what the project timeline is.
- Contract: Though reading through a contract can be tedious, it's important to do it thoroughly so you can be sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
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 Park Heights, MN Solar Cost FAQs
What is the average cost of installing solar panels in Oak Park Heights?
The average cost of solar panels in Oak Park Heights is about $14,200 for a 5-kW system and $28,400 for a 10-kW system before the ITC, but the actual cost will depend on certain factors like the type of solar panels you want, what size system you need and how much energy you use.
Can you get solar panels for free in Oak Park Heights?
You can't get solar panels for free in Oak Park Heights. 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.
How will installing solar panels impact my home value?
Installing solar panels on your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Oak Park Heights is currently $347,100, so you can look forward to a value of about $14,231 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Oak Park Heights is a rewarding investment.
How long do solar panels last in Oak Park Heights?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can 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.