Solar Panel Cost Guide in Scandia, MN (2024 Update)
- Scandia Solar Installation Cost: $20,370
- 25-Year Savings: $22,764
- Payback Period: 13.7 Years
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Average Cost of Solar Panels in Scandia
We go over average solar pricing in Scandia.
The average cost of a solar system in Scandia is 4 per watt.Using this figure, a typical 7.2-kW system would cost about $20,370 before the 0 federal solar tax credit is applied.
These figures are only averages, and how much solar costs for you will most likely vary based on factors unique to your home and what company you choose to go with.Many homeowners find adopting solar power is a solid investment. The average homeowner in Scandia can save about $20,000 on their energy bills over 20 years.
For a customized quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Scandia
| Year | Return on Investment |
|---|---|
| 1 years | $-19,090 |
| 3 years | $-16,531 |
| 5 years | $-13,973 |
| 7 years | $-11,414 |
| 9 years | $-8,855 |
| 11 years | $-6,296 |
| 13 years | $-3,737 |
| 15 years | $-1,178 |
| 17 years | $1,381 |
| 19 years | $3,940 |
| 21 years | $6,499 |
| 23 years | $9,058 |
| 25 years | $11,616 |
Top Solar Installers in Scandia
Although it's possible to install solar panels by yourself, it takes extra labor and knowledge. That's one of the reasons most homeowners choose to go with a solar panel installer. Plus, if you aren’t sure what type of solar panels and equipment you may need, a solar installer can help you figure that out after a site survey and consultation.
If you're searching for a solar company in Scandia, we've put together a list of our top suggestions here:
Best National Provider
SunPower
- 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
- 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 Scandia
Factors that Affect Solar Panel Costs in Scandia
There are a number of 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 performs the installation.
Solar Equipment
When it comes to estimating the price of a solar system in Scandia, 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 gauge by looking at past power bills. Your overall cost can increase by around $4,030 for each additional kilowatt you need.Some solar brands — like Maxeon from SunPower — are more costly upfront but also tend to offer higher efficiency. In a city like Scandia, where sunlight isn’t as abundant, efficiency can quickly pay off. Plus, if you have a small roof or you don’t have a lot of space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Scandia to be prohibitively expensive, even if the investment pays off over time. Thankfully, nearly every solar installer in the area provides access to financing options. Solar loans remarkably decrease upfront costs in most cases, but they also result in paying more over time due to interest.You’ll have to consider the long-term cost of loans, including the amount of interest you’ll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the original cost. Making a larger down payment or securing a solar loan with a low APR could reduce your costs remarkably.
Solar Panel Installation Company
Lastly, the company you hire to install your solar system can influence the cost. Scandia’s solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Scandia have more knowledge about local solar incentives and can help you take advantage of additional rebates or tax exemptions. However, 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 | $13,240 | 14.3 years |
| 8 kW | $4.11 | $23,019 | $18,105 | 14.0 years |
| 10 kW | $4.03 | $28,210 | $23,195 | 13.7 years |
| 12 kW | $3.95 | $33,175 | $28,511 | 13.4 years |
| 14 kW | $3.87 | $37,914 | $34,053 | 13.2 years |
| 16 kW | $3.79 | $42,428 | $39,820 | 12.9 years |
| 18 kW | $3.71 | $46,716 | $45,813 | 12.6 years |
| 20 kW | $3.63 | $50,778 | $52,032 | 12.3 years |
How to Save on Solar Panels
There are numerous companies available in Scandia, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be difficult, so here are some tips to help you decide:
- Warranty: Companies typically offer different kinds of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Solar Panel Brands: Not all solar companies offer the same brands of solar panels, so the brand and type of panel you want can play a substantial role in the company you choose.
- Contract: Before you sign a contract with a solar company, be sure to look it over completely so you understand the terms. Also, ask questions if you aren’t sure about some of the terms, such as what the warranty covers and if there are any guarantees about energy production.
- Installation Process: Homeowners should make sure they know how exactly the installation process will be carried out, as well as important factors like the completion timeline.
Best National Provider
SunPower
- 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
- 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 Scandia, MN Solar Cost FAQs
How much does it cost to install solar panels in Scandia?
This is a difficult question to answer precisely, because the cost depends on a few different factors. Generally speaking, it costs about $20,150 for a 5-kW system and $40,300 for a 10-kW system after the ITC is applied. You can expect to pay more if you want extra solar equipment or higher quality panels, or if you have higher-than-average energy usage. On the flip side, you can spend less if you want a smaller solar panel system or less expensive solar panels.
Are solar panels free in Scandia?
A solar panel system isn’t free in Scandia, 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 your location 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 $1,028.10 per year.
What solar power system size is right for my home?
To figure out how many solar panels you need, you should find out how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can generally produce about 250 to 400 watt-hours per hour, the average household will need 20 to 35 panels.
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.