Solar Panel Cost Guide in Scandia, MN (Feb 2023)
- Scandia Solar Installation Cost: $14,353
- 25-Year Savings: $22,765
- Payback Period: 9.7 Years
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Top Solar Installers in Scandia
Many homeowners opt for a solar panel company since figuring out how to install solar panels on your own can be a labor-intensive endeavor. The expertise that solar companies provide can be useful as well, particularly if you aren't sure what brand of solar equipment would be right for your home.
Working with a professional solar installer can help your solar project go smoothly. Here are our recommendations:
See all of the solar companies in Scandia
Factors that Affect Solar Panel Costs in Scandia
Though the average cost of a solar system in Scandia is $14,353, your actual cost may be higher or lower than that. There are many factors that can have a major impact on the cost of a solar panel installation. Below are some of the more important things to take into consideration.
Solar system size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of going solar. For that reason, it's a priority to accurately gauge the size of the solar energy system needed for your home by figuring out your energy needs. The type of solar panels and equipment you choose is another factor that will substantially affect costs. Solar panels that are more efficient, like monocrystalline panels, tend to cost more. Plus, solar equipment is more than just the solar panels themselves. You'll also need to consider 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
If paying for solar panels out of pocket is out of reach, solar loans are a popular route because they cut back your upfront costs and let you pay for your system over five to seven years on average. You'll have to consider the long-term cost of financing options, including the total interest you'll pay over the length of the loan. If you're only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or securing a solar loan with a low APR could reduce your costs remarkably.
Solar Panel Installation Company
The solar panel installer you select will influence your total cost to make the switch to solar energy. Different companies will bill different amounts for the equipment and labor. Companies that only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally cost more. It's best to do some research and choose a company that provides the products, warranties and services you want and also is within your budget.
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||$18,438||10.1 years|
|8 kW||$2.90||$16,222||$24,902||9.9 years|
|10 kW||$2.84||$19,880||$31,525||9.7 years|
|12 kW||$2.78||$23,379||$38,307||9.5 years|
|14 kW||$2.73||$26,719||$45,248||9.3 years|
|16 kW||$2.67||$29,900||$52,348||9.1 years|
|18 kW||$2.61||$32,921||$59,607||8.9 years|
|20 kW||$2.56||$35,784||$67,026||8.7 years|
How to Save on Solar Panels
The solar company you go with will affect not only your overall costs, but also the types of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are some important things you should consider, including:
- Installation Process: Make sure you're aligned with the installer in regard to how the installation process will go and what needs to be done before your solar panels are installed, such as updating your electrical system or roof.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their roof configurations and how much efficiency they need. Even though there are many options for which kind of solar panel you can get, not every company will have the exact one you may want or need, so be sure to peruse their list of offerings before deciding.
- Contract: Even though reading through a contract can take a lot of time, it's important to do it thoroughly so you can be sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
- Reputation: Companies that have been operating for many years likely have a solid reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide quality aftercare and customer service, such as part repairs and replacements.
EcoWatch's Scandia, MN Solar Cost FAQs
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.