Solar Panel Cost Guide in Ramsey, MN (2023 Update)
- Ramsey Solar Installation Cost: $14,274
- 25-Year Savings: $19,025
- Payback Period: 10.7 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Ramsey
Let's have a look at the average cost of solar in Ramsey.
While the national average of solar panels is $2.66 per watt, solar panels in Ramsey generally cost around 2.84. Because a 7.2-kW system is needed to cover the energy usage of a typical home in Ramsey, the average price of going solar will be about $14,274 after claiming the federal solar tax credit of 30%.
How much you pay can be higher or lower than the average in Ramsey depending on a few factors, such as the type of solar panels you choose and the solar company you hire. For most homeowners, the upfront cost of solar is worth paying. On average homeowners in Ramsey see about $18,000 in savings on electricity bills over 20 years.
You can click the button below to get connected with a vetted solar company in Ramsey for a quote for your home.
Solar savings over time in Ramsey
| Year | Return on Investment |
|---|---|
| 1 years | $-12,942 |
| 3 years | $-10,278 |
| 5 years | $-7,614 |
| 7 years | $-4,950 |
| 9 years | $-2,286 |
| 11 years | $378 |
| 13 years | $3,041 |
| 15 years | $5,705 |
| 17 years | $8,369 |
| 19 years | $11,033 |
| 21 years | $13,697 |
| 23 years | $16,361 |
| 25 years | $19,025 |
Top Solar Installers in Ramsey
DIY solar panel installation is a way to cut costs, but it's an undertaking that can use up a lot of your time and energy. Hiring an installer can make your swap to solar power much easier. The expertise that solar installers offer can be invaluable as well, particularly if you don't quite know what type of solar equipment you need.
Working with a licensed 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 Ramsey
Factors that Affect Solar Panel Costs in Ramsey
There are a number of factors that can determine your solar system installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar system.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a few different factors. One of the key factors is the system size, which is measured in kilowatts (kW). Solar power systems with better efficiency or power generation require better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $2,840. The brand and kind of equipment you get for your solar system can raise or lower the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often come at a higher price than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have limited roof space or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to greater savings over time. Plus, if you want add-ons like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be financially overwhelming. Solar loans are provided by most installers in Ramsey, which can lower, or in some cases completely eliminate, your upfront costs to make solar more affordable. It's wise to include the interest you'll pay in your final cost estimate. If you can afford to pay a larger down payment, you can reduce your total costs and the amount of time it'll take to pay back the loan.
Solar Panel Installation Company
A final factor to keep in mind when trying to figure out the cost of solar for your home or business in Ramsey is the company you get to install your solar panel system. Similar to choosing a company to install new cabinets, for instance, there are plenty of solar installers that provide a range of services for different budgets. Larger national companies generally have lower costs, but some local companies keep up 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 car 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 | $15,426 | 11.1 years |
| 8 kW | $2.90 | $16,222 | $20,886 | 10.9 years |
| 10 kW | $2.84 | $19,880 | $26,505 | 10.7 years |
| 12 kW | $2.78 | $23,379 | $32,283 | 10.5 years |
| 14 kW | $2.73 | $26,719 | $38,220 | 10.3 years |
| 16 kW | $2.67 | $29,900 | $44,316 | 10.1 years |
| 18 kW | $2.61 | $32,921 | $50,571 | 9.9 years |
| 20 kW | $2.56 | $35,784 | $56,985 | 9.6 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you pick the right company for you, here are some tips to keep in mind:
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their roof configurations and how much efficiency they need. While there are many options for which model of solar panel you can get, not every company will have the exact one you may want or need, so be sure to ask for their list of options before making your decision.
- Installation Process: Get details from your solar installer about the installation process and what to expect, including when the site survey will be completed and how long it will take.
- Reputation: Solar system installers that have great reviews from their customers and that have been operating for many years most likely provide high-quality solar panel installation and expertise.
- Contract: When looking through your solar installer's contract, ask questions about any terms you're not sure of and make sure you understand what happens in scenarios such as a system part breaking or the company going out of business.
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 Ramsey, MN Solar Cost FAQs
How much does it cost to install solar panels in Ramsey?
This is a hard question to answer exactly, because the cost depends on a few different factors. Broadly speaking, it costs about $14,200 for a 5-kW system and $28,400 for a 10-kW system after the ITC is applied. It will cost more if you want extra solar equipment or higher quality panels, or if you have higher-than-average energy needs. On the other hand, you can spend less if you go with a smaller solar panel system or less expensive solar panels.
Are solar panels free in Ramsey?
You can't get solar panels for free in Ramsey. However, you may still be able to afford 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 solar panels impact the value of my home?
Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Ramsey is currently $242,400, which means you could be looking at a value of about $9,938 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Ramsey is a worthwhile investment.
How long do solar panels last in Ramsey?
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 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.