Solar Panel Cost Guide in Rochester, MN (2024 Update)
- Rochester Solar Installation Cost: $20,342
- 25-Year Savings: $22,734
- Payback Period: 13.7 Years
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Average Cost of Solar Panels in Rochester
Find out what the average cost of installing solar panels is in Rochester.
The average cost of a solar system in Rochester is 4 per watt.To account for the typical energy needs of the average home in Rochester, most homeowners require a 7.2-kilowatt system. Using the figure above, a solar installation costs about $20,342, or $29,089 before the federal solar tax credit of 0 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 based on multiple factors, such as what size system you need, your energy usage and what installation company you go with.Many homeowners find installing a solar panel system is a rewarding investment. The average homeowner in Rochester can save around $20,000 on their electricity bills over 20 years.
Click the button below to get connected to a top solar panel company in your area for a personalized estimate.
Solar savings over time in Rochester
| Year | Return on Investment |
|---|---|
| 1 years | $-18,989 |
| 3 years | $-16,283 |
| 5 years | $-13,577 |
| 7 years | $-10,871 |
| 9 years | $-8,165 |
| 11 years | $-5,459 |
| 13 years | $-2,753 |
| 15 years | $-47 |
| 17 years | $2,659 |
| 19 years | $5,365 |
| 21 years | $8,071 |
| 23 years | $10,777 |
| 25 years | $13,483 |
Top Solar Installers in Rochester
When switching to solar energy, many homeowners opt to go with a solar installation company since handling can be a difficult project. Solar warranties and repairs are typically included in the cost of installation when you opt for a solar contractor as well, which can save you more money over time.
You can get a free estimate from a local solar installer on how much solar panels could cost for your home. Here are some near you:
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 Rochester
Factors that Affect Solar Panel Costs in Rochester
There are many criteria that can affect your installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that does the installation.
Solar Equipment
The size of the solar energy system you need to offset your energy usage, 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 about $4,030. The model of solar panels and equipment you want is another factor that will considerably influence costs. Solar panels that are more efficient, like monocrystalline panels, tend to be more expensive. Plus, solar equipment goes beyond just the solar panels themselves. You’ll also need to decide on 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’s in your budget.
Solar Financing Terms
If paying for a solar system in cash is difficult, solar loans are a solid choice because they reduce your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years.Though solar loans make adopting solar energy more accessible for Rochester homeowners, they can also raise the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you make a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
Finally, the company you opt for to install your solar panels can influence your pricing. Rochester’s solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Rochester know more about local solar incentives and can help you learn about additional rebates or tax exemptions. However, they may charge more for walking you through the whole process. Even if they cost more upfront, they could end up saving you 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 | $13,241 | 14.3 years |
| 8 kW | $4.11 | $23,019 | $18,107 | 14.0 years |
| 10 kW | $4.03 | $28,210 | $23,197 | 13.7 years |
| 12 kW | $3.95 | $33,175 | $28,514 | 13.4 years |
| 14 kW | $3.87 | $37,914 | $34,056 | 13.2 years |
| 16 kW | $3.79 | $42,428 | $39,824 | 12.9 years |
| 18 kW | $3.71 | $46,716 | $45,818 | 12.6 years |
| 20 kW | $3.63 | $50,778 | $52,037 | 12.3 years |
How to Save on Solar Panels
Since the brand of solar panels and the installation company you choose greatly impacts your costs and your system’s durability and efficiency, it’s important to select the right ones for you. Here are some things to keep in mind to help with your decision:
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a good reputation and is qualified to get the job done well. Another way you can look into your installer’s reputation is by reading reviews.
- Contract: When reading through your solar company’s contract, ask for clarification about any terms you’re not sure of and be sure you understand what happens in scenarios like a system part breaking or the company going out of business.
- Installation Process: Get detailed information from your solar installer about the installation process and what to expect, such as when the site survey will be completed and how long it will take.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their roof configurations and how much efficiency they need. Even though there are many options for which brand of solar panel you can get, not every company will have the exact one you may want or need, so make sure you peruse their list of options before deciding.
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 Rochester, MN Solar Cost FAQs
How much does it cost to install solar panels in Rochester?
The average cost of solar panels in Rochester 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 certain factors such as the kind of solar panels you want, what size system you need and how much energy you use.
Is it better to lease or buy solar panels in Rochester?
Leasing solar panels can be an attractive choice, as it commonly comes with low or $0 upfront payments. The drawback is that you won’t be able to save as much. If you lease, you don’t own the system, so you can’t claim any incentives and your home value won’t increase. Buying solar panels is a better option if you want to get the most savings.
Does Rochester have a net metering program?
Most states offer net metering programs of some kind. Through these, you can be compensated for the extra power your system generates or or receive credits to put toward future energy bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.
How many solar panels do I need to power my home?
The exact number of solar panels you need depends on your household energy needs and how much sunlight your roof gets. You can 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 buy between 20 and 35 panels to account for 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.