Solar Panel Cost Guide in Shoreview, MN (2023 Update)
- Shoreview Solar Installation Cost: $14,353
- 25-Year Savings: $21,433
- Payback Period: 10.0 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Shoreview
Find out how much it might cost to install solar panels in Shoreview.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Shoreview, the average cost of solar panels is 2.84 per watt. Since a 7.2-kW system is needed to cover the energy costs of a typical home in Shoreview, the average price of going solar will be about $14,353 after claiming the federal solar tax credit of 30%.
Remember that the numbers above are only averages. The price you'll end up paying for solar may vary based on your household energy consumption, the type of equipment you choose, your solar contractor and more. With typical savings of about $19,000 on utility bills over 20 years, many homeowners in Shoreview find installing solar panels has a decent ROI.
Click the button below to get connected to a highly rated solar panel company in your area for a custom quote.
Solar savings over time in Shoreview
| Year | Return on Investment |
|---|---|
| 1 years | $-12,922 |
| 3 years | $-10,059 |
| 5 years | $-7,196 |
| 7 years | $-4,333 |
| 9 years | $-1,470 |
| 11 years | $1,392 |
| 13 years | $4,255 |
| 15 years | $7,118 |
| 17 years | $9,981 |
| 19 years | $12,844 |
| 21 years | $15,707 |
| 23 years | $18,570 |
| 25 years | $21,433 |
Top Solar Installers in Shoreview
Although you can install solar panels yourself, it takes extra effort and knowledge. For that reason, most homeowners choose to go with a solar panel installer. The expertise that solar installers offer can be invaluable as well, especially if you don't quite know what brand of solar equipment you need.
If you'd like to make the switch to solar but still aren't certain which solar installer to go with, here are our recommendations for providers near you:
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 Shoreview
Factors that Affect Solar Panel Costs in Shoreview
The cost of installing a solar system in Shoreview can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The most significant one is the size of the system you need, and other factors include the equipment you choose, financing options and the solar installer you choose.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of going solar. Because of that, it's important to accurately ascertain the size of the solar energy system needed for your home by figuring out your typical energy use. There are a lot of different solar panel brands and the one you choose also affects the cost. Typically, the brands that have better efficiency tend to also be more expensive. Additionally, the type of equipment you choose can affect your total cost. If you only need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be financially overwhelming. Solar loans are offered by most installers in Shoreview, which can reduce, or in some cases totally eliminate, your upfront costs to make solar more accessible. However, the interest on solar loans also adds to your all-in costs, so it's vital to keep that in mind as well. You can always lower the total you pay in interest and possibly even your APR by making a larger down payment.
Solar Panel Installation Company
The final significant cost factor you should take into consideration is the installer you choose. Given the growing popularity of green energy solutions in Shoreview, you'll have a great number of options to choose from, but each comes at different price points for labor and equipment. Larger national companies typically have lower costs, but some local companies keep up with them by offering sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or additional services like electric vehicle charger installation, they might be cheaper overall.
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 | $17,351 | 10.4 years |
| 8 kW | $2.90 | $16,222 | $23,453 | 10.2 years |
| 10 kW | $2.84 | $19,880 | $29,713 | 10.0 years |
| 12 kW | $2.78 | $23,379 | $36,133 | 9.8 years |
| 14 kW | $2.73 | $26,719 | $42,712 | 9.6 years |
| 16 kW | $2.67 | $29,900 | $49,450 | 9.4 years |
| 18 kW | $2.61 | $32,921 | $56,347 | 9.2 years |
| 20 kW | $2.56 | $35,784 | $63,403 | 9.0 years |
How to Save on Solar Panels
There are a large number of companies available in Shoreview, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be tough, so here are some tips to help you decide:
- Reputation: Make sure your solar company has a good reputation by confirming it has certifications and licenses, checking its work history and reading reviews by previous customers and solar experts like EcoWatch.
- Installation Process: An important thing to understand when going solar is the installation process itself. Be sure to clarify any details you need to know with your solar company, such as what permits you should acquire and how long the project will take.
- Solar Panel Brands: The kind of solar panel you want plays a part in which company you should opt for, since different companies provide different panels.
- Contract: Although reading through a contract can take a lot of time, it's important to do it carefully so you can be sure you understand what services your solar company will provide and the terms of the warranty.
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 Shoreview, MN Solar Cost FAQs
How much does it cost to install solar panels in Shoreview?
The average cost of solar panels in Shoreview 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 kind of solar panels you want, what size system you need and how much energy you use.
Should I lease or buy solar panels in Shoreview?
Leasing solar panels can be an attractive choice, because it often comes with low or $0 upfront payments. The downside is that you won't be able to save as much. If you lease, you don't own the system, so you can't claim any incentives and your home value won't increase. Buying solar panels is a better option if you want to get the most savings.
Can solar panels eliminate my power bills?
Solar panels can potentially eliminate your electricity bills depending on your location and how much sunlight your home gets. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $991.87 per year.
How many solar panels do I need to power my home?
The exact number of solar panels you need depends on your household energy needs and the amount of sunlight your roof gets. You can 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 buy between 20 and 35 panels to cover 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.