Solar Panel Cost Guide in Shakopee, MN (2025 Update)
- Shakopee Solar Installation Cost: $20,196
- 25-Year Savings: $19,545
- Payback Period: 14.9 Years
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Average Cost of Solar Panels in Shakopee
Find out what the average cost of solar panel installation is in Shakopee.
In Shakopee, solar panels cost about 4 per watt on average.The average Shakopee homeowner needs a 7.2-kilowatt system, which would cost about $20,196 with the federal tax credit, or $28,880 before the 0 tax credit is applied.
These figures are only estimates, and how much solar costs for you will differ based on the amount of energy your home requires and what company you choose to go with.For most homeowners, the upfront investment in solar power is worth paying. On average homeowners in Shakopee see about $18,000 in savings on utility bills over 20 years.
To calculate your potential savings and connect with a local solar installer, click the button below.
Solar savings over time in Shakopee
| Year | Return on Investment |
|---|---|
| 1 years | $-18,916 |
| 3 years | $-16,357 |
| 5 years | $-13,799 |
| 7 years | $-11,240 |
| 9 years | $-8,681 |
| 11 years | $-6,122 |
| 13 years | $-3,563 |
| 15 years | $-1,004 |
| 17 years | $1,555 |
| 19 years | $4,114 |
| 21 years | $6,673 |
| 23 years | $9,231 |
| 25 years | $11,790 |
Top Solar Installers in Shakopee
When making the switch to solar, many homeowners opt to use a solar installation company since installing solar panels yourself can be a challenging project. Local solar installation companies can also help you optimize your return on investment by walking you through any local incentives you can take advantage of and by providing warranties and repairs.
If you're looking for a solar installer in Shakopee, the EcoWatch team has compiled a list of our top suggestions here:
See all of the solar companies in Shakopee
Factors that Affect Solar Panel Costs in Shakopee
There are several criteria that can influence your installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar system.
Solar Equipment
When it comes to estimating the price of a solar system in Shakopee, one of the most crucial 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 consumption, which you can determine by looking at past electricity bills. Your total cost can increase by around $4,030 for each additional kilowatt you need.The kind of solar equipment you choose can increase or decrease your cost 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. However, higher efficiency could save you more over time on your power bills. Additionally, add-on products, such as solar batteries, can bump up your total well above the Shakopee average.
Solar Financing Terms
Many homeowners find the average cost of solar in Shakopee to be too expensive, even if the investment pays off over time. Thankfully, almost every solar company in the area offers financing options. Solar loans greatly decrease upfront costs for most homeowners, but they also result in paying more over time due to interest.When estimating your overall cost, you should also calculate the interest you’ll pay if you decide on a solar loan. Also, paying more upfront can lower the total interest paid over time.
Solar Panel Installation Company
The final major cost factor you should keep in mind is the installer you choose. Given the growing popularity of sustainable energy solutions in Shakopee, you’ll have many options to choose from, but each comes at different price points for labor and equipment.Companies that only sell high-quality, high-efficiency and high-price products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come at a higher cost. It’s best to do some research and choose a company that provides the products, warranties and services you want and also fits 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 | $4.19 | $17,603 | $10,705 | 15.5 years |
| 8 kW | $4.11 | $23,019 | $14,725 | 15.2 years |
| 10 kW | $4.03 | $28,210 | $18,970 | 14.9 years |
| 12 kW | $3.95 | $33,175 | $23,441 | 14.6 years |
| 14 kW | $3.87 | $37,914 | $28,138 | 14.4 years |
| 16 kW | $3.79 | $42,428 | $33,061 | 14.1 years |
| 18 kW | $3.71 | $46,716 | $38,209 | 13.8 years |
| 20 kW | $3.63 | $50,778 | $43,582 | 13.5 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:
- Warranty: Companies typically offer different kinds of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Contract: Before signing a contract with a solar installer, make sure to look it over fully 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 what services you can expect from them.
- Installation Process: When making the switch to solar power, it’s necessary to maintain an open line of communication with your solar panel installer. See to it that you understand how the installation process works and the project completion timeline.
- Solar Panel Brands: Different companies will offer various brands and types of panels. If you want a specific brand, make sure the solar panel company you’re considering has it.
EcoWatch's Shakopee, MN Solar Cost FAQs
What is the average cost of installing solar panels in Shakopee?
This is a tough question to answer precisely, because the cost depends on many 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 additional solar equipment or higher quality panels, or if you have higher-than-average energy needs. Conversely, you can spend less if you choose a smaller solar panel system or cheaper solar panels.
Are solar panels free in Shakopee?
You can’t get solar panels for free in Shakopee. However, you may still be able to get them on a lower budget. You can lease solar panels for a low upfront cost or, if you want to own your solar panels, you can finance them with a solar loan.
Can solar panels significantly reduce my power bills?
It is possible to eliminate your electricity bills with solar panels, but for most homeowners throughout Shakopee, that will require at least a 10-kW system. Not all homes can accommodate that size system, so you’ll want to check with a local solar installer to see how many panels can fit on your roof.
How long do solar panels last in Shakopee?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher level of energy production.
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.