Solar Panel Cost Guide in Savage, MN (2023 Update)
- Savage Solar Installation Cost: $14,232
- 25-Year Savings: $19,393
- Payback Period: 10.6 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Savage
Find out what the average cost of installing solar panels is in Savage.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Savage, the average cost of a solar system is 2.84 per watt. To account for the typical energy needs of the average home in Savage, most homeowners require a 7.2-kilowatt system. Using the figure above, a solar installation costs around $14,234, or $20,355 before the federal solar tax credit of 30% is applied.
These figures are only estimates, and your own solar costs may vary based on factors unique to your home and what company you choose to 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.
For a personalized quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Savage
| Year | Return on Investment |
|---|---|
| 1 years | $-14,120 |
| 3 years | $-13,896 |
| 5 years | $-13,672 |
| 7 years | $-13,448 |
| 9 years | $-13,223 |
| 11 years | $-12,999 |
| 13 years | $-12,775 |
| 15 years | $-12,551 |
| 17 years | $-12,327 |
| 19 years | $-12,103 |
| 21 years | $-11,878 |
| 23 years | $-11,654 |
| 25 years | $-11,430 |
Top Solar Installers in Savage
When going solar, many homeowners prefer to use a solar installer since handling can be a challenging project. Companies can also offer access to a large variety of the best solar panels and help you decide which one will be best for you.
Working with a vetted solar company can make going solar easier. 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 Savage
Factors that Affect Solar Panel Costs in Savage
Cost is often one of the most important factors for homeowners who want to invest in solar. There are a few key factors that determine your overall cost in Savage: 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
When it comes to estimating the price of a solar system in Savage, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are mainly based on your home's energy usage, which you can determine by looking at past power bills. Your overall cost can increase by about $2,840 for each additional kilowatt you need. The model of solar panels and equipment you get is another factor that will significantly impact costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to come at a higher price. Furthermore, solar equipment consists of more than just the solar panels themselves. You'll also need to think 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 researching a solar system that falls within your budget.
Solar Financing Terms
Many homeowners find the average cost of solar in Savage to be prohibitively expensive, even if the investment pays off over time. Thankfully, nearly every solar company in the area provides access to financing options. Solar loans drastically decrease upfront costs in most cases, but they also result in higher prices over time due to interest. It's a good idea to factor the interest you'll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and the amount of time it'll take to pay back the loan.
Solar Panel Installation Company
The solar installation company you choose will affect your total cost to go solar. Different companies will charge different amounts for the equipment and labor. The size of the company can sometimes play the most significant role in the cost of installation. Larger national companies, like SunPro and Sunrun, often have lower pricing because of access to more resources and better pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or promotion can bring their pricing lower to compete with bigger companies.
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 many solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you pick the right company for you, here are some tips to keep in mind:
- 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.
- Reputation: Your solar installer should have a good reputation as a company and have proven expertise in the field. A couple of ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has satisfied reviews from past customers.
- Solar Panel Brands: Not all solar companies have the same brands of solar panels, so the brand and type of panel you want can play a significant role in the company you hire.
- 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 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 Savage, MN Solar Cost FAQs
What is the average cost of installing solar panels in Savage?
The average cost of solar panels in Savage is about $14,200 for a 5-kW system and $28,400 for a 10-kW system before the ITC, but the actual cost will depend on certain factors like the type of solar panels you want, what size system you need and how much energy you use.
What other factors should I consider other than cost when buying solar panels?
Cost is definitely one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Is it worth going solar in Savage?
Whether or not solar panels are worth it depends on a variety of factors like local electricity rates and how much direct sunlight your roof gets.
How many solar panels do I need to power my home?
The exact number of solar panels you need depends on your household energy consumption and the average daily sunlight your roof gets. You can take a 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 install 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.