Solar Panel Cost Guide in Spring Lake Park, MN (2024 Update)
- Spring Lake Park Solar Installation Cost: $20,303
- 25-Year Savings: $21,478
- Payback Period: 14.2 Years
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Average Cost of Solar Panels in Spring Lake Park
Find out what the average cost of a solar system is in Spring Lake Park.
The national average cost of solar panels is $2.66 per watt, but in Spring Lake Park it’s 4 per watt.Using this figure, a typical 7.2-kW system would cost about $20,303 before the 0 federal solar tax credit is applied.
These figures are only estimates, and how much solar costs for you will differ based on your energy needs and what company you choose to go with.But, after you've paid the upfront cost of installation, the payback for most homeowners is typically rewarding, with a net average savings of about $19,000 over 20 years on electricity bills.
You can click the button below to get connected with a vetted solar company in Spring Lake Park that can help you get a more accurate cost estimate for your home.
Solar savings over time in Spring Lake Park
| Year | Return on Investment |
|---|---|
| 1 years | $-19,024 |
| 3 years | $-16,465 |
| 5 years | $-13,906 |
| 7 years | $-11,347 |
| 9 years | $-8,788 |
| 11 years | $-6,229 |
| 13 years | $-3,671 |
| 15 years | $-1,112 |
| 17 years | $1,447 |
| 19 years | $4,006 |
| 21 years | $6,565 |
| 23 years | $9,124 |
| 25 years | $11,683 |
Top Solar Installers in Spring Lake Park
Although you can install solar panels by yourself, it involves extra energy and knowledge. That's one of the reasons most homeowners choose to go with a solar panel installer. Some solar companies, especially local ones, can help you take advantage of incentives in Spring Lake Park, therefore optimizing your ROI.
There are a number of licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
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 Spring Lake Park
Factors that Affect Solar Panel Costs in Spring Lake Park
The cost of installing a solar system in Spring Lake Park can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The biggest one is the size of the system your household needs, 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 determines the overall cost of going solar. That’s why it’s a priority to accurately assess the size of the solar energy system needed for your home by figuring out your energy needs.Some solar brands — like Maxeon from SunPower — cost more upfront but also tend to offer higher efficiency. In a city like Spring Lake Park, where sunlight isn’t as abundant, efficiency can quickly pay off. Also, if you have a small roof or limited 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
For some homeowners, paying for solar panels out of pocket can be financially overwhelming. Solar loans are offered by most installers in Spring Lake Park, which can reduce, or in some cases eliminate, your upfront costs to make solar more accessible.Although solar loans make adopting solar energy more accessible for Spring Lake Park homeowners, they can also increase the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you put down a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
A final factor to consider when trying to evaluate the cost of solar for your home or business in Spring Lake Park is the company you get to install your solar system. Similar to choosing a company to install new cabinets, for example, there’s no shortage of solar installers that offer a range of services at different price points.The size of the company sometimes plays the most significant role in the installation costs. Larger national companies, like SunPro and Sunrun, often have lower pricing because they have 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 names.
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 | $12,230 | 14.8 years |
| 8 kW | $4.11 | $23,019 | $16,758 | 14.5 years |
| 10 kW | $4.03 | $28,210 | $21,512 | 14.2 years |
| 12 kW | $3.95 | $33,175 | $26,491 | 13.9 years |
| 14 kW | $3.87 | $37,914 | $31,696 | 13.6 years |
| 16 kW | $3.79 | $42,428 | $37,127 | 13.3 years |
| 18 kW | $3.71 | $46,716 | $42,783 | 13.0 years |
| 20 kW | $3.63 | $50,778 | $48,665 | 12.8 years |
How to Save on Solar Panels
The solar panel company you go with will influence not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are some important things you should consider, including:
- Warranty: Warranties that cover replacement parts and repairs over around 25 years are the best you can get in the business, and offering such a warranty is one sign of a good company.
- Solar Panel Brands: Each solar panel brand and kind offers varying levels of quality, durability and energy efficiency. They will come at different price points as well. The company you choose plays a role in which solar panel brands you have access to.
- Installation Process: Get detailed information from your solar installer about the installation process and what to expect, including when the site survey will be done and what the project timeline is.
- Reputation: Your solar installer should have a good reputation as a company and have demonstrated 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 positive reviews from previous customers.
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 Spring Lake Park, MN Solar Cost FAQs
What is the average cost of installing solar panels in Spring Lake Park?
This is a difficult question to answer precisely, because the cost depends on many factors. Broadly speaking, it costs about $20,150 for a 5-kW system and $40,300 for a 10-kW system after the ITC is applied. It will be more expensive if you want other solar equipment or higher quality panels, or if you have higher-than-average energy consumption. On the flip side, you can spend less if you want a smaller solar panel system or less expensive solar panels.
Can you get solar panels for free in Spring Lake Park?
You can’t get solar panels for free in Spring Lake Park. However, you may still be able to install them on a lower budget. You can lease solar panels for a low upfront cost or, if you’d prefer to own your solar panels, you can finance them with a solar loan.
Is it worth going solar in Spring Lake Park?
Whether or not solar panels are worth it depends on a variety of factors like how much you pay for electricity and how much direct sunlight your roof gets.
How often do you have to replace solar panels?
On average, the lifespan of solar panels is 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.