Solar Panel Cost Guide in Plymouth, MN (Sep 2022)

  • Plymouth Solar Installation Cost: $14,314
  • 25-Year Savings: $21,472
  • Payback Period: 10.0 Years

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EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 9/16/2022

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Average Cost of Solar Panels in Plymouth

We go over average solar pricing in Plymouth.

Currently, the national average cost of solar panels is $2.66 per watt. However, in Plymouth, the typical cost of solar panels is $3 per watt. Since a 7.2-kW system is needed to cover the energy needs of a typical home in Plymouth, the average price of going solar will be about $14,314 before claiming the federal solar tax credit of 30%.

The true cost of your system can go above or below the average in Plymouth based on several factors, such as the model of solar panels you choose and the solar company you hire. Many homeowners find installing a solar panel system is a rewarding investment. The average homeowner in Plymouth can save about $19,000 on their electricity bills over 20 years.

Click the button below to get connected to a vetted solar installer in Plymouth for a customized estimate.

Solar savings over time in Plymouth

Year Return on Investment
1 years $-12,882
3 years $-10,019
5 years $-7,156
7 years $-4,294
9 years $-1,431
11 years $1,432
13 years $4,295
15 years $7,158
17 years $10,021
19 years $12,884
21 years $15,747
23 years $18,610
25 years $21,472

Top Solar Installers in Plymouth

DIY solar panel installation is a possibility, but it's an undertaking that can be a headache. Taking advantage of an installer can make switching to solar power much easier. Companies can also offer access to a large variety of the best solar panels and help you decide which one will be best for your home.

You can get a free estimate from a local solar installer on how much your investment in solar could cost for your home. Here are some nearby:

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Technology

The Green Panel

★★★★★
4.5

  • 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

Best Social Impact

Palmetto Solar

★★★★★
4.0

  • Expansive service area
  • Makes charitable contributions
  • Certified B Corp
  • No leases or PPAs
  • Quality of installation may vary by location

See all of the solar companies in Plymouth

Factors that Affect Solar Panel Costs in Plymouth

The cost of installing a solar system in Plymouth can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The largest one is your system size, and other factors include equipment choices, financing options and the solar installer you choose.

Solar Equipment Size

The size of the solar energy system you need to offset your energy usage is the most significant cost factor to consider. For every additional kilowatt you need, your total will most likely increase by around $2,840. 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. On the other hand, higher efficiency could save you more in the long run on your electric bills. Additionally, extra products, such as solar batteries, can bring your total well above the Plymouth average.

Solar Financing Terms

Solar panels can save you money on utility bills over many years, but they can also be a big investment. That's why many Plymouth homeowners decide to finance their solar panel systems to make paying for solar more affordable. 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 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 securing a solar loan with a low APR could reduce your costs significantly.

Solar Panel Installation Company

A final factor to keep in mind when trying to estimate the cost of solar for your home or business in Plymouth is the company you choose to install your solar panel system. As with choosing a company to install new cabinets, for example, there's no shortage of solar installers that provide a range of services at different price points. Companies that only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come at a higher cost. It's best to do some research and decide on the company that provides the products, warranties and services you want and also is 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 $2.95 $12,405 $17,409 10.4 years
8 kW $2.90 $16,222 $23,530 10.2 years
10 kW $2.84 $19,880 $29,810 10.0 years
12 kW $2.78 $23,379 $36,249 9.8 years
14 kW $2.73 $26,719 $42,847 9.6 years
16 kW $2.67 $29,900 $49,604 9.4 years
18 kW $2.61 $32,921 $56,520 9.2 years
20 kW $2.56 $35,784 $63,596 9.0 years

Solar Incentives in Plymouth

Name ITC
Type Tax Incentive
Incentive Amount 26% of installation cost
Website Visit here

Name Fix-Up Loan
Website Visit here
More Info Click here

Name Wind and Solar-Electric (PV) Systems Exemption
Incentive Amount Solar: 100% exemption from real property taxes
Wind: 100% exemption from real and personal property taxes
Incentive Max None
More Info Click here

Name Xcel Energy - Renewable Development Fund Grants
Incentive Amount Varies
Incentive Max Varies by RFP details
Website Visit here
More Info Click here

Name Solar Energy Sales Tax Exemption
Incentive Amount 100% exemption
Incentive Max None
More Info Click here

Name Xcel Energy - Solar*Rewards Program
Incentive Amount Residential Systems: $0.07 per kWh produced over 10 years.
Income-Qualified Residential Systems: $0.07 per kWh produced over 10 years, plus $2.00/W up-front.
Income-Qualified Multifamily: $0.06 per kWh produced over 10 years, plus $1.00/W up-front.
Income-Qualified Solar Garden: $0.06 per kWh produced over 10 years, plus $0.50/W up-front.
Commercial Systems: $0.06 per kWh produced over 10 years
Website Visit here
More Info Click here

How to Save on Solar Panels

The company that does your system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Since selecting a company can be a challenge, we have some tips to help you, such as:

  • Installation Process: Get detailed information from your solar company about the installation process and what to expect, including when the site survey will be done and what the project timeline is.
  • Contract: Even though reading through a contract can take a lot of time, 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.
  • Reputation: Your solar installer should have a sound reputation as a company and have verifiable expertise in the field. A couple of 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 past customers.
  • Solar Panel Brands: The brand of solar panel you'd like to get plays a part in which company you should opt for, since different companies offer different panels.

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Technology

The Green Panel

★★★★★
4.5

  • 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

Best Social Impact

Palmetto Solar

★★★★★
4.0

  • Expansive service area
  • Makes charitable contributions
  • Certified B Corp
  • No leases or PPAs
  • Quality of installation may vary by location

EcoWatch's Plymouth, MN Solar Cost FAQs

What is the average cost of installing solar panels in Plymouth?

The average cost of solar panels in Plymouth 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 things like the kind of solar panels you want, what size system you need and how much energy you use.

Should I lease or buy solar panels in Plymouth?

Leasing solar panels can be an option if you can't 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 financial benefits from going solar.

Do solar panels increase your property value?

Solar panels can increase your property's value significantly as long as you buy or finance your panels and don't go for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% with a solar installation."

How long do solar panels last in Plymouth?

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 larger level 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.

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