Solar Panel Cost Guide in St. Anthony, MN (2023 Update)
- St. Anthony Solar Installation Cost: $20,336
- 25-Year Savings: $21,455
- Payback Period: 14.2 Years
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Updated October 25, 2023
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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.The average St. Anthony homeowner needs a 7.2-kilowatt system, which would cost about $20,336 with the federal tax credit, or $29,080 before the 0 tax credit is applied.
These figures are only estimates, and how much solar costs for you will differ based on your specific situation and what company you choose to go with.For many homeowners, the upfront investment in solar is worth paying. On average homeowners in St. Anthony see about $19,000 in savings on electricity bills over 20 years.
To get a free estimate from a vetted solar company in St. Anthony, you can 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 switching to solar energy, many homeowners opt to use a solar installer since handling can be a time-consuming project. Plus, warranties and repairs from your solar panel installer can protect your investment and bring down the cost of maintenance over the lifespan of your panels.
Working with a vetted solar installer can make going solar easier. Here are our recommendations:
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 St. Anthony
Factors that Affect Solar Panel Costs in St. Anthony
Cost is typically one of the most important factors for homeowners considering investing in solar. There are a few major factors that will push your cost above or below the average in St. Anthony: solar equipment and system size, financing options and the solar installation company you choose. We’ll discuss each of these briefly below.
Solar Equipment
One of the most important factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household consumes, the larger your system will likely need to be. You can expect to pay around $4,030 per kilowatt in St. Anthony.The model of solar panels and equipment you want is another factor that will greatly affect costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to be more pricey. Furthermore, solar equipment goes beyond just the solar panels themselves. You’ll also need to make decisions about 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
Most solar installers in St. Anthony offer solar loans, which reduce the initial cost of installing a solar system.Although solar loans make going solar more accessible for St. Anthony homeowners, they can also increase the total you pay for your system, depending on your interest rate. If you put down 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 pick will play a role in your total cost to go solar. Different companies will bill different amounts for the equipment and labor.Larger national companies generally have lower costs, but some local companies keep up with them by promoting sales and discounts. While the smaller companies might not have access to 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 | $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
Since the brand of solar panels and the company you choose considerably influences your costs and your system’s efficiency, production, and durability, it’s important to select the right ones for you. Here are some things to keep in mind to help with your decision:
- Solar Panel Brands: Each solar panel brand and model has varying levels of quality, durability and energy efficiency. They will come at different prices as well. The company you choose plays a role in which solar panel brands you have access to.
- Installation Process: Make sure you’re aligned with the installer regarding how the installation process will go and what needs to be done before your solar system is installed, such as updating or replacing your electrical system or roof.
- Contract: Before signing a contract with a solar installer, make sure to read it through fully so you understand the terms. Also, ask questions if you’re not certain about some of the terms, such as what the warranty covers and if there are any guarantees about energy production.
- Reputation: Long-standing companies likely have a solid reputation. This is important because it ensures that it will not only see your solar project through, but will also provide quality aftercare and customer support, such as part repairs and replacements.
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 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 actual cost will depend on things such as the kind of solar panels you want, what size system you need and how much energy you use.
Is cost the most important thing to think about when buying solar panels?
The initial 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 trump the cost. Other factors that are important to be mindful of are the quality and durability of your solar panels.
How will solar panels impact how much my home is worth?
Solar panels can increase your property’s value considerably as long as you buy or finance your panels and don’t go for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% with a solar installation."
How often do you have to replace solar panels?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is the amount of 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 continue to use 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.