Solar Panel Cost Guide in Perham, MN (2023 Update)
- Perham Solar Installation Cost: $20,137
- 25-Year Savings: $14,766
- Payback Period: 17.4 Years
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Updated October 25, 2023
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Average Cost of Solar Panels in Perham
We break down average solar pricing in Perham.
While the national average of solar panels is $2.66 per watt, solar panels in Perham generally cost around 2.84.Because a 7.1-kW system is needed to cover the energy consumption of a typical home in Perham, the average price of going solar will be about $14,194 after claiming the federal solar tax credit of 30%.
Keep in mind that the figures above are only estimates based on the average energy use of Perham homeowners. 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.Many homeowners find adopting solar power is a sound investment. The average homeowner in Perham can save about $15,000 on their electricity bills over 20 years.
To see your potential ROI and connect with a local solar expert, click the button below.
Solar savings over time in Perham
| Year | Return on Investment |
|---|---|
| 1 years | $-19,174 |
| 3 years | $-17,250 |
| 5 years | $-15,325 |
| 7 years | $-13,400 |
| 9 years | $-11,476 |
| 11 years | $-9,551 |
| 13 years | $-7,627 |
| 15 years | $-5,702 |
| 17 years | $-3,777 |
| 19 years | $-1,853 |
| 21 years | $72 |
| 23 years | $1,996 |
| 25 years | $3,921 |
Top Solar Installers in Perham
Installing solar panels yourself can be a challenging task, which is why using a solar installation company is a good option for many homeowners. Local solar installation companies can also help you optimize your return on investment by assisting with any local incentives and by providing warranties and repairs.
There are several licensed solar professionals that can install solar panels for you. Here are our suggestions:
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 Perham
Factors that Affect Solar Panel Costs in Perham
While the average cost of a solar system in Perham is $14,194, your actual cost may differ. There are several factors that can have a sizable impact on the cost of a solar system installation. Below are some of the more important things to keep in mind.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of installing solar panels. 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 typical energy use.The type of solar panels and equipment you get is another factor that will significantly influence costs. Solar panels that are more efficient, like monocrystalline panels, tend to come at a higher price. Moreover, solar equipment goes beyond 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
If paying for a solar system in cash is too expensive, solar loans are a popular option because they cut back your upfront costs and let you pay for your system over a term of, on average, between five and seven years.Though solar loans make going solar more accessible for Perham homeowners, they can also raise the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you make a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The solar company you opt for to handle your switch to sustainable energy can play a part in your total costs. There are about 3 solar installation companies in Perham, and each can charge different amounts for labor and equipment.Larger national companies typically have lower costs, but some local companies keep up with them by promoting sales and discounts. While the smaller companies might not have access to 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 | $4.19 | $17,603 | $6,737 | 18.1 years |
| 8 kW | $4.11 | $23,019 | $9,434 | 17.7 years |
| 10 kW | $4.03 | $28,210 | $12,356 | 17.4 years |
| 12 kW | $3.95 | $33,175 | $15,505 | 17.0 years |
| 14 kW | $3.87 | $37,914 | $18,879 | 16.7 years |
| 16 kW | $3.79 | $42,428 | $22,478 | 16.3 years |
| 18 kW | $3.71 | $46,716 | $26,304 | 16.0 years |
| 20 kW | $3.63 | $50,778 | $30,355 | 15.6 years |
How to Save on Solar Panels
The solar company you opt for will impact not only your overall costs, but also the types of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are a few important things you should consider, such as:
- Warranty: If you're worried about the endurance of your solar panel system, making sure your installer offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Solar Panel Brands: Each solar panel brand and model offers varying levels of quality, durability and energy efficiency. They will come at different prices as well. The company you choose has an impact on which solar panel brands you have access to.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for clean energy professionals. If your solar panel installer is NABCEP-certified, it likely has a good reputation and is qualified to install your solar system. Another way you can research your installer's reputation is by reading reviews.
- Contract: 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 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 Perham, MN Solar Cost FAQs
What is the average cost of installing solar panels in Perham?
The average cost of solar panels in Perham is about $14,200 for a 5-kW system and $28,400 for a 10-kW system before the ITC, but the real cost will depend on stuff like the model of solar panels you want, what size system you need and how much energy you use.
What other factors should I consider other than cost when buying solar panels?
The upfront cost is a key factor to consider, but whether it's the most important for you depends on why you decided to go solar. In places where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to think about are the quality and durability of your solar panels.
Does Perham have a net metering program?
The majority of states have net metering programs of some kind. Through these, you can receive compensation for the extra power your system generates or or receive credits to put toward future energy bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.
How long do solar panels last in Perham?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is their energy production will have decreased significantly after that point. You can choose to replace them after having 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.