Solar Panel Cost Guide in Savage, MN (Dec 2022)
- Savage Solar Installation Cost: $14,234
- 25-Year Savings: $19,391
- Payback Period: 10.6 Years
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Updated 11/09/2022
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Average Cost of Solar Panels in Savage
Find out what the average cost of solar panels are in Savage.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Savage, the typical cost of solar panels is $3 per watt. Using this figure, a typical 7.2 would cost about $14,234 before the 30% federal solar tax credit is applied.
The prices above are just estimates to give you an idea of how much a solar panel system could cost. The true cost of installing solar panels can vary based on multiple factors, such as how many panels you need, your energy consumption and what installation company you go with. With typical savings of about $18,000 on power bills over 20 years, many homeowners in Savage find installing solar panels can be quite rewarding.
Click the button below to get connected to a reputable solar installer in Savage for a personalized quote.
Solar savings over time in Savage
| Year | Return on Investment |
|---|---|
| 1 years | $-12,889 |
| 3 years | $-10,199 |
| 5 years | $-7,509 |
| 7 years | $-4,819 |
| 9 years | $-2,129 |
| 11 years | $561 |
| 13 years | $3,251 |
| 15 years | $5,941 |
| 17 years | $8,631 |
| 19 years | $11,321 |
| 21 years | $14,011 |
| 23 years | $16,701 |
| 25 years | $19,391 |
Top Solar Installers in Savage
Although you can install solar panels by yourself, it takes extra labor and knowledge. That's why most homeowners choose a solar panel installer. A solar company can also help save you money in the long run by offering warranties, repairs and component replacements.
Working with a professional solar company can help your solar project go smoothly. Here are our recommendations:
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
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
See all of the solar companies in Savage
Factors that Affect Solar Panel Costs in Savage
For many Savage homeowners, the decision to install solar panels depends on cost. However, the range of solar installation costs can be quite wide in Savage, with typical prices between $20,000 to $40,000. There are a few factors that greatly influence the price you'll pay, which we'll go over below.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of going solar. That's why it's important to accurately ascertain the size of the solar energy system needed for your home by figuring out your energy needs. The kind of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you choose 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, more efficient panels could save you more in the long run on your power bills. Additionally, extra products, like solar batteries, can bring your total well above the Savage average.
Solar Financing Terms
Most solar companies in Savage offer solar loans, which reduce your upfront costs of installing a solar system. When figuring out your overall cost, you should also calculate the interest you'll pay if you go with a solar loan. Also, paying more on your down payment can lower the total interest paid over time.
Solar Panel Installation Company
A final consideration when trying to estimate the cost of solar for your home or business in Savage is the company you choose to install your solar panel system. Similar to choosing a company to build a deck or pool, for example, there's no shortage of solar installers that provide a range of services at different price points. Additionally, some companies in Savage are more knowledgeable about local solar incentives and can help you take advantage of 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 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 | $2.95 | $12,405 | $15,776 | 11.0 years |
| 8 kW | $2.90 | $16,222 | $21,353 | 10.8 years |
| 10 kW | $2.84 | $19,880 | $27,089 | 10.6 years |
| 12 kW | $2.78 | $23,379 | $32,984 | 10.4 years |
| 14 kW | $2.73 | $26,719 | $39,038 | 10.2 years |
| 16 kW | $2.67 | $29,900 | $45,250 | 9.9 years |
| 18 kW | $2.61 | $32,921 | $51,622 | 9.7 years |
| 20 kW | $2.56 | $35,784 | $58,153 | 9.5 years |
How to Save on Solar Panels
There are a large number of companies to choose from in Savage, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be challenging, so here are some tips to help you decide:
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and energy needs. Although there are many options for which kind of solar panel you can get, not every company will have access to the exact one you may want or need, so be sure to peruse their list of offerings before deciding.
- Reputation: Your solar installer should have a good 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 satisfied reviews from previous customers.
- Contract: Before signing a contract with a solar company, be sure to read it through fully so you understand the terms. Also, ask questions if you're not certain about some of the terms, such as what the warranty covers and if there are any guarantees about energy production.
- Warranty: A 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
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
EcoWatch's Savage, MN Solar Cost FAQs
How much does it cost to install solar panels in Savage?
This is a difficult question to answer precisely, because the cost depends on a few different factors. Generally speaking, it costs about $14,200 for a 5-kW system and $28,400 for a 10-kW system after the ITC is applied. You can expect to pay more if you want extra solar equipment or more efficient panels, or if you have higher-than-average energy needs. On the flip side, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.
Are solar panels free in Savage?
A solar panel system isn't free in Savage, but there are some options that can make getting them more affordable, 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 electricity bills after installing solar panels?
It is possible to eliminate your electricity bills with solar panels, but for most homeowners throughout Savage, that will require at least a 10-kW system. Not all homes will have roofs that can accommodate that size system, so you'll want to contact a local solar installer to see how many panels can fit on your roof.
How long do solar panels last in Savage?
Although 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 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 continue to use 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.
