Solar Panel Cost Guide in Orono, MN (2024 Update)
- Orono Solar Installation Cost: $20,316
- 25-Year Savings: $18,964
- Payback Period: 15.3 Years
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Average Cost of Solar Panels in Orono
We break down average solar pricing in Orono.
In Orono, solar panels cost about 4 per watt on average.To cover the typical energy needs of the average home in Orono, most homeowners require a 7.2-kilowatt system. Using the per-watt figure above, a solar installation costs around $20,316, or $29,052 before the federal solar tax credit of 0 is applied.
Bear in mind that the figures above are only estimates based on the average Orono homeowner. The price of a solar system for your home may be different depending on factors unique to your situation, like your household energy use and solar contractor.Despite the high initial cost, the average Orono homeowner can save around $18,000 on their power bills over 20 years, which is one of the benefits of solar.
You can click the button below to get connected with a vetted solar installer in Orono for a quote for your home.
Solar savings over time in Orono
| Year | Return on Investment |
|---|---|
| 1 years | $-19,056 |
| 3 years | $-16,535 |
| 5 years | $-14,015 |
| 7 years | $-11,494 |
| 9 years | $-8,973 |
| 11 years | $-6,453 |
| 13 years | $-3,932 |
| 15 years | $-1,411 |
| 17 years | $1,109 |
| 19 years | $3,630 |
| 21 years | $6,151 |
| 23 years | $8,671 |
| 25 years | $11,192 |
Top Solar Installers in Orono
When making the switch to solar, many homeowners decide to go with a solar installer since DIY solar panel installation can be a difficult project. Plus, if you’re unsure what type of solar panels and equipment you may need, a solar company can help you find the right equipment for you after a site survey and consultation.
If you’d like to make the switch to solar but still aren’t certain which solar company to go with, here are our suggestions for providers near you:
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 Orono
Factors that Affect Solar Panel Costs in Orono
For many Orono homeowners, the decision to go solar comes down to cost. However, the range of solar installation costs can be quite wide in Orono, with typical prices between $20,000 to $40,000. There are numerous factors that considerably influence the price you’ll pay, which we'll go over below.
Solar Equipment
When it comes to estimating the price of a solar system in Orono, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home’s energy consumption, which you can determine by looking at past energy bills. Your overall cost can increase by around $4,030 for each additional kilowatt you need.There are a lot of different solar panel brands and the one you choose also affects the cost. Generally, the brands that offer higher efficiency tend to also cost more. In addition, the type of equipment you choose can affect your total cost. If you only need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Most solar companies in Orono offer solar loans, which reduce your upfront costs of installing solar panels.You’ll have to consider the long-term cost of financing options, including the amount of 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 securing a solar loan with a low APR could reduce your costs remarkably.
Solar Panel Installation Company
A final consideration when trying to figure out the cost of solar for your home or business in Orono is the company you choose to install your solar panel system. Similar to choosing a company to renovate your kitchen, for example, there’s no shortage of solar installers that provide a range of services for different budgets.Some companies only sell high-efficiency and high-priced products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally cost more. It’s best to do some research and decide on the company that offers the products, warranties and services you want and also fits within your budget.
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 | $10,124 | 15.9 years |
| 8 kW | $4.11 | $23,019 | $13,951 | 15.6 years |
| 10 kW | $4.03 | $28,210 | $18,002 | 15.3 years |
| 12 kW | $3.95 | $33,175 | $22,280 | 15.0 years |
| 14 kW | $3.87 | $37,914 | $26,783 | 14.7 years |
| 16 kW | $3.79 | $42,428 | $31,512 | 14.3 years |
| 18 kW | $3.71 | $46,716 | $36,467 | 14.0 years |
| 20 kW | $3.63 | $50,778 | $41,647 | 13.7 years |
How to Save on Solar Panels
The solar company you opt for will influence not only your overall costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are some important things you should consider, such as:
- Solar Panel Brands: Each solar panel brand and type has varying levels of quality, longevity and efficiency. They will come at different costs as well. The company you choose has an impact on which solar panel brands you have access to.
- Warranty: A high-quality company rises above other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Reputation: Make sure your solar installer has a good reputation by confirming it has certifications and licenses, checking its number of years in business and reading reviews by previous customers and solar experts like EcoWatch.
- Installation Process: One of the most important things to understand when adopting solar power is the installation process itself. Be sure to clarify any details you should know with your solar installer, such as what permits you should secure and how long the project will take.
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 Orono, MN Solar Cost FAQs
How much does it cost to install solar panels in Orono?
This is a hard question to answer exactly, 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. It will cost more if you want extra solar equipment or more efficient panels, or if you have above-average energy usage. Conversely, you can spend less if you choose a smaller solar panel system or less expensive solar panels.
Is cost the most important thing to keep in mind when buying solar panels?
Cost is a very important factor to consider, but whether it’s the most important for you depends on your goals for going solar. In places where rooftop space is limited, efficiency can trump the cost. Other factors that are important to keep in mind are the quality and durability of your solar panels.
Is it worth going solar in Orono?
Solar panels can be a great investment for many homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your energy bills are already pretty low, solar panels might not be for you.
How often do you have to replace solar panels?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher amount of energy production.
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.