Solar Panel Cost Guide in Redwood Falls, MN (2024 Update)
- Redwood Falls Solar Installation Cost: $20,003
- 25-Year Savings: $18,204
- Payback Period: 15.5 Years
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Average Cost of Solar Panels in Redwood Falls
We go over average solar pricing in Redwood Falls.
While the national average of solar panels is $2.66 per watt, solar panels in Redwood Falls typically cost around 4.The average solar panel system size in Redwood Falls is around 7.1 kilowatts, meaning a cost of about $20,003 for a solar installation, or $28,604 before the 0 federal solar tax credit is applied.
Bear in mind that the figures above are only estimates based on the average Redwood Falls homeowner. The price of a solar system for your home may look different depending on factors unique to your situation, like your household energy use and solar contractor.With average savings of about $17,000 on energy bills over 20 years, many homeowners in Redwood Falls find going solar can be quite rewarding.
To get a free estimate from a vetted solar installer in Redwood Falls, you can click the button below.
Solar savings over time in Redwood Falls
| Year | Return on Investment |
|---|---|
| 1 years | $-18,723 |
| 3 years | $-16,164 |
| 5 years | $-13,605 |
| 7 years | $-11,047 |
| 9 years | $-8,488 |
| 11 years | $-5,929 |
| 13 years | $-3,370 |
| 15 years | $-811 |
| 17 years | $1,748 |
| 19 years | $4,307 |
| 21 years | $6,866 |
| 23 years | $9,425 |
| 25 years | $11,983 |
Top Solar Installers in Redwood Falls
When going solar, many homeowners decide to go with a solar company since DIY solar panel installation can be a challenging project. Since solar panels are exposed to the elements every day, warranties and repairs from your solar installer can help you get the most out of your investment in solar panels by avoiding potential costs down the line.
You can get a free quote from a local solar installer on the cost of solar panels for your home. Here are some in Redwood Falls:
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 Redwood Falls
Factors that Affect Solar Panel Costs in Redwood Falls
Even though the average cost of a solar system in Redwood Falls is $20,003, your actual cost may differ. There are several factors that can have a major impact on the cost of a solar system installation. Below are some of the more crucial things to take into consideration.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to some different factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems with better efficiency or power production need better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $4,030.The type of solar panels and equipment you get is another factor that will substantially impact costs. Solar panels that are more efficient, like monocrystalline panels, tend to be more expensive. Further, solar equipment consists of more than just the solar panels themselves. You’ll also need to make decisions about the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when looking for a solar system that falls within your budget.
Solar Financing Terms
Many homeowners find the average cost of solar in Redwood Falls to be prohibitively steep, even if the investment pays off over time. Fortunately, almost every solar company in the area offers financing options. Solar loans greatly decrease upfront costs for most homeowners, but they also result in paying more over time due to interest.When figuring out your overall cost, you should also calculate the interest you’ll pay if you opt for a solar loan. Also, paying more upfront can reduce the total interest paid over time.
Solar Panel Installation Company
A final factor to consider when trying to evaluate the cost of solar for your home or business in Redwood Falls is the company you get to install your solar panel system. As with choosing a company to renovate your kitchen, for example, there are plenty of solar installers that provide a range of services at different price points.Additionally, some companies in Redwood Falls have more knowledge about local solar incentives and can help you take advantage of additional rebates or tax exemptions. Though, they may charge more for that service. Even if they cost more upfront, they could help you save more money in the long run.
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 | $9,729 | 16.1 years |
| 8 kW | $4.11 | $23,019 | $13,423 | 15.8 years |
| 10 kW | $4.03 | $28,210 | $17,343 | 15.5 years |
| 12 kW | $3.95 | $33,175 | $21,489 | 15.2 years |
| 14 kW | $3.87 | $37,914 | $25,860 | 14.9 years |
| 16 kW | $3.79 | $42,428 | $30,457 | 14.6 years |
| 18 kW | $3.71 | $46,716 | $35,280 | 14.2 years |
| 20 kW | $3.63 | $50,778 | $40,328 | 13.9 years |
How to Save on Solar Panels
The solar installer you go with will be a major factor in determining not only your total costs, but also the types of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are some important things you should take into account, including:
- Solar Panel Brands: The brand of solar panel you want plays a role in which installer you should opt for, since different companies offer different panels.
- Contract: It’s important to read your solar installer’s contract closely to understand what services they will provide, what the warranty covers and what expectations you should have about your solar system’s energy production.
- Reputation: Your solar installer should have a sound reputation as a company and have proven expertise in the field. Two ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from past customers.
- Warranty: A high-quality company rises above other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
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 Redwood Falls, MN Solar Cost FAQs
How much does it cost to install solar panels in Redwood Falls?
The average cost of solar panels in Redwood Falls is about $20,150 for a 5-kW system and $40,300 for a 10-kW system before the ITC, but the actual cost will depend on certain factors such as the model of solar panels you want, what size system you need and how much energy you consume.
Are solar panels free in Redwood Falls?
You can’t get solar panels for free in Redwood Falls. 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 want to own your solar panels, you can finance them with a solar loan.
Can solar panels completely eradicate my electricity bills?
Solar panels can potentially eliminate your electricity bills depending on where you’re located and the efficiency of your system. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $911.06 per year.
How often do you have to replace solar panels?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can replace them once you've had them for that long or you can keep using 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.