Solar Panel Cost Guide in Plymouth, MN (2024 Update)
- Plymouth Solar Installation Cost: $20,316
- 25-Year Savings: $21,469
- Payback Period: 14.2 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Why you can trust EcoWatch
Average Cost of Solar Panels in Plymouth
We break down average solar pricing in Plymouth.
In Plymouth, solar panels cost about 4 per watt on average.Using this figure, a typical 7.2-kW system would cost about $20,316 before the 0 federal solar tax credit is applied.
Bear in mind that the figures above are only estimates based on the average energy use of Plymouth 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 solid investment. The average homeowner in Plymouth can save about $19,000 on their energy bills over 20 years.
To get a free quote from a vetted solar company in Plymouth, you can click the button below.
Solar savings over time in Plymouth
| Year | Return on Investment |
|---|---|
| 1 years | $-19,037 |
| 3 years | $-16,478 |
| 5 years | $-13,919 |
| 7 years | $-11,360 |
| 9 years | $-8,801 |
| 11 years | $-6,242 |
| 13 years | $-3,684 |
| 15 years | $-1,125 |
| 17 years | $1,434 |
| 19 years | $3,993 |
| 21 years | $6,552 |
| 23 years | $9,111 |
| 25 years | $11,670 |
Top Solar Installers in Plymouth
Many homeowners decide to use a solar panel company since trying to install solar panels by yourself can be hard. The payback period on an investment in solar panels will vary depending on factors like your roof configuration and energy needs, but going with a solar company can help you reach a break-even point sooner. Your provider will be able to help you get the most out of incentives available in your area.
Working with a licensed solar company can make going solar easier. Here are our recommendations:
See all of the solar companies in Plymouth
Factors that Affect Solar Panel Costs in Plymouth
Cost is usually one of the most important factors for homeowners wanting to invest in solar. There are a few key factors that will push your cost above or below the average in Plymouth: solar equipment and system size, financing options and the solar installation company you choose. We’ll go over each of these briefly below.
Solar Equipment
The size of the solar system you need, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by around $4,030. The brand and kind of equipment you choose for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often have a higher price tag than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have a small roof or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to more savings over time. Also, if you want additional equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
Solar panels can save you money on utility bills over time, but they can also be a big investment. That’s why many Plymouth homeowners choose to finance their solar panel systems to make paying for solar more affordable.Even though solar loans make adopting solar energy more accessible for Plymouth homeowners, they can also raise the total you pay for your system, depending on your interest rate. If you make a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
The remaining key cost factor you should consider is the installer you choose. Given the growing popularity of green energy solutions in Plymouth, you’ll have a great number of options to choose from, but each comes at various price points for labor and equipment.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 come with an above-average cost. It’s best to do some research and decide on the company that has 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 | $12,211 | 14.8 years |
| 8 kW | $4.11 | $23,019 | $16,733 | 14.5 years |
| 10 kW | $4.03 | $28,210 | $21,480 | 14.2 years |
| 12 kW | $3.95 | $33,175 | $26,453 | 13.9 years |
| 14 kW | $3.87 | $37,914 | $31,652 | 13.6 years |
| 16 kW | $3.79 | $42,428 | $37,076 | 13.3 years |
| 18 kW | $3.71 | $46,716 | $42,726 | 13.1 years |
| 20 kW | $3.63 | $50,778 | $48,602 | 12.8 years |
How to Save on Solar Panels
Since the kind of solar panels and the installation company you choose greatly impacts 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:
- Solar Panel Brands: Different companies will carry various brands and types of panels. If you want a specific brand, make sure the solar installer you’re considering has it.
- Installation Process: An important thing to understand when going solar is the installation process itself. Be sure to clarify any details you should know with your solar installer, such as what permits you should acquire and what the project timeline is.
- Contract: Look through the contract terms thoroughly to make sure you understand the cost breakdown, completion timeline incentives and warranties.
- Warranty: If you care about the longevity of your solar panel system, making sure your installer offers a 25-year, all-inclusive warranty can help put you at ease.
EcoWatch's Plymouth, MN Solar Cost FAQs
How much does it cost to install solar panels in Plymouth?
This is a difficult question to answer precisely, 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 other solar equipment or more efficient panels, or if you have above-average energy needs. On the flip side, you can spend less if you want a smaller solar panel system or less expensive solar panels.
Is it better to lease or buy solar panels in Plymouth?
Leasing solar panels can be an option if you are unable to pay upfront or get a solar loan, but since you don’t own the system, you don’t have access to many solar incentives. Also your home value won’t increase, so you’ll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most bang for your buck from going solar.
How will solar panels impact my home value?
Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Plymouth is currently $483,020, which means you could be looking at a value of about $19,804 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Plymouth is a worthwhile investment.
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 install 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.