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

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated February 03, 2024

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We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Redwood Falls

We go over average solar pricing in Redwood Falls.

Currently, the national average cost of solar panels is $2.66 per watt. However, in Redwood Falls, the average cost of a solar system is 4 per watt.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.

The prices above are just estimates to give you an idea of the cost of solar panels. The actual cost of making the switch to solar can vary quite a bit based on a few factors, such as what size system you need, your energy usage and what solar installer you go with.Despite the significant initial cost, the average Redwood Falls homeowner can save around $17,000 on their electricity bills over 20 years, which is one of the positives of solar.

To calculate your potential savings and connect with a local solar expert, 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

Many homeowners opt for a solar installation company since trying to install solar panels by yourself can be time-consuming. Plus, warranties and repairs from your solar panel company can protect your investment and bring down the cost of maintenance over the lifespan of your panels.

There are several licensed solar professionals that can take care of your solar installation project. Here are our suggestions:

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 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

Best Technology

Tesla Energy

★★★★★
3.2

  • 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

Cost is usually one of the most important factors for homeowners who are considering investing in solar. There are a few major factors that affect your total cost in Redwood Falls: 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 significant cost factor to consider. For every additional kilowatt you need, your total will most likely increase by nearly $4,030. There are many different solar panel brands and the one you pick also changes the cost. Typically, the brands that offer higher efficiency tend to also be more expensive. Additionally, the type of equipment you want to install can affect your total cost. If you just need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.

Solar Financing Terms

Solar panels can save you money on power bills over many years, but they can also be a significant investment. That’s why many Redwood Falls homeowners opt to finance their solar panel systems to make going solar more affordable.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 choose to install your solar system. As with choosing a company to renovate your kitchen, for instance, you’ll have no shortage of solar installers that offer a range of services for different budgets.Larger national companies generally have lower costs, but some local companies undercut them by offering sales and discounts. While the smaller companies might not have access to 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 $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 company that does your solar panel installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Since picking a company can be a tough decision, we have some tips to help you, such as:

  • Solar Panel Brands: Different companies carry different brands and kinds of panels. If you know you want a specific brand, make sure the solar company you’re considering has it.
  • Contract: Even though reading through a contract can be tedious, it’s important to do it fully so you can be sure you understand how much the equipment and services will cost and the terms of the warranty.
  • Reputation: Solar system installers that have great reviews from their customers and that have been operating for many years in most cases offer high-quality solar panel installation and expertise.
  • Warranty: A quality company rises above other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.

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 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

Best Technology

Tesla Energy

★★★★★
3.2

  • 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 real cost will depend on things such as the model of solar panels you want, what size system you need and how much energy you use.

Are solar panels free in Redwood Falls?

Solar panels aren’t free in Redwood Falls, but there are some options that can make getting them more viable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can help lower the cost.

How much can I save on power bills after switching to solar?

Solar panels can potentially eliminate your electricity bills depending on where you’re located and how much sunlight your home gets. 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 are completely unusable at that time. What this means is how much energy they produce will have decreased significantly after that point. You can choose to 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.

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