Solar Panel Cost Guide in St. Anthony, MN (2024 Update)
- St. Anthony Solar Installation Cost: $20,336
- 25-Year Savings: $21,455
- Payback Period: 14.2 Years
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Average Cost of Solar Panels in St. Anthony
Find out how much it might cost to install solar panels in St. Anthony.
The average cost of a solar system in St. Anthony is 4 per watt.Since a 7.2-kW system is needed to cover the energy needs of a typical home in St. Anthony, the average price of going solar will be about $20,336 after claiming the federal solar tax credit of 0.
The true price you pay can be above or below the average in St. Anthony depending on a few factors, such as the model of solar panels you choose and the solar contractor you hire.But, once you've paid the initial cost of installation, the payback for most homeowners is typically rewarding, with a net average savings of about $19,000 over 20 years on utility bills.
For a customized quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in St. Anthony
| Year | Return on Investment |
|---|---|
| 1 years | $-19,057 |
| 3 years | $-16,498 |
| 5 years | $-13,939 |
| 7 years | $-11,380 |
| 9 years | $-8,821 |
| 11 years | $-6,262 |
| 13 years | $-3,703 |
| 15 years | $-1,144 |
| 17 years | $1,415 |
| 19 years | $3,973 |
| 21 years | $6,532 |
| 23 years | $9,091 |
| 25 years | $11,650 |
Top Solar Installers in St. Anthony
When making the switch to solar, many homeowners decide to use a solar company since overseeing your solar installation yourself can be a challenging project. Solar warranties and repairs are typically included in the cost of installation when you sign a contract with a solar company too, which can save you more money over time.
If you're looking for a solar installer in St. Anthony, the EcoWatch team has organized a list of our top suggestions here:
See all of the solar companies in St. Anthony
Factors that Affect Solar Panel Costs in St. Anthony
There are several factors that can affect your solar system installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that does the installation.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a variety of factors. One of the notable factors is the system size, which is measured in kilowatts (kW). Solar power systems that have higher efficiency or power generation need better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $4,030.Some solar panel brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer higher efficiency. In a city like St. Anthony, where sunlight isn’t as abundant, efficiency can quickly pay off. Plus, if you have a small roof or limited space for your panels, higher efficiency options will be a better option. 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 St. Anthony to be prohibitively expensive, even if the investment pays off over time. Fortunately, nearly every solar company in the area offers financing options. Solar loans greatly decrease upfront costs for most homeowners, but they also lead to paying more over time because of interest.Although solar loans make going solar more accessible for St. Anthony homeowners, they can also increase the total you pay for your system due to interest. If you make a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
The solar installation company you choose will influence your total cost to go solar. Different companies will charge different amounts for the equipment and labor.Some companies 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 come at a higher cost. It’s best to do some research and decide on the company that provides the products, warranties and services you’re looking for and also fit into 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 | $12,182 | 14.8 years |
| 8 kW | $4.11 | $23,019 | $16,694 | 14.5 years |
| 10 kW | $4.03 | $28,210 | $21,432 | 14.2 years |
| 12 kW | $3.95 | $33,175 | $26,395 | 13.9 years |
| 14 kW | $3.87 | $37,914 | $31,584 | 13.6 years |
| 16 kW | $3.79 | $42,428 | $36,999 | 13.4 years |
| 18 kW | $3.71 | $46,716 | $42,639 | 13.1 years |
| 20 kW | $3.63 | $50,778 | $48,505 | 12.8 years |
How to Save on Solar Panels
There are a large number of companies to choose from in St. Anthony, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be tough, so here are some tips to help you decide:
- Solar Panel Brands: Homeowners will have different preferences for panels depending 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 make sure you ask for their list of offerings before making your decision.
- Installation Process: Make sure you’re on the same page with the company in regard to how the installation process will go and what you need to do before your solar panels are installed, such as updating or replacing your electrical system or roof.
- Contract: Review the contract terms thoroughly to make sure you understand the cost breakdown, completion timeline rebates and warranties.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a good reputation and is qualified to install your solar system. Another way you can check your installer’s reputation is by reading reviews.
EcoWatch's St. Anthony, MN Solar Cost FAQs
What is the average cost of installing solar panels in St. Anthony?
The average cost of solar panels in St. Anthony is about $20,150 for a 5-kW system and $40,300 for a 10-kW system before the ITC, but the real cost will depend on stuff such as the model of solar panels you want, what size system you need and how much energy you consume.
Is cost the most important thing to keep in mind when buying solar panels?
Cost is a crucial factor to consider, but whether it’s the most important for you depends on why you decided to go solar. In areas where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to think about are the quality and durability of your solar panels.
How will solar panels impact how much my home is worth?
Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in St. Anthony is currently $391,856, so you can look forward to a value of about $16,066 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in St. Anthony is a rewarding investment.
How often do you have to replace solar panels?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is how much energy they produce will have decreased significantly after that point. You can decide to replace them after having them for that long or you can keep using them at a lower efficiency.
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.