Solar Panel Cost Guide in St. James, MN (2024 Update)
- St. James Solar Installation Cost: $20,036
- 25-Year Savings: $16,267
- Payback Period: 16.5 Years
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Average Cost of Solar Panels in St. James
See how much it might cost to make the switch to solar in St. James.
The average cost of solar panels in St. James is 4 per watt.The average St. James homeowner needs a 7.1-kilowatt system, which would cost about $20,036 with the federal tax credit, or $28,651 before the 0 tax credit is applied.
These figures are only estimates, and how much solar costs for you will most likely look different based on the amount of energy your home requires and what company you want to go with.For many homeowners, the upfront cost of solar is worth paying. On average homeowners in St. James see about $16,000 in savings on energy bills over 20 years.
To see your potential ROI and connect with a local solar expert, click the button below.
Solar savings over time in St. James
| Year | Return on Investment |
|---|---|
| 1 years | $-18,826 |
| 3 years | $-16,406 |
| 5 years | $-13,986 |
| 7 years | $-11,566 |
| 9 years | $-9,146 |
| 11 years | $-6,726 |
| 13 years | $-4,306 |
| 15 years | $-1,886 |
| 17 years | $534 |
| 19 years | $2,954 |
| 21 years | $5,374 |
| 23 years | $7,794 |
| 25 years | $10,214 |
Top Solar Installers in St. James
When going solar, many homeowners decide to use a solar installation company since installing a solar system yourself can be a difficult project. Some solar companies, particularly local ones, can help you take advantage of incentives in St. James, optimizing your ROI.
If you're searching for a solar company in St. James, the EcoWatch team has organized a list of our top suggestions here:
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 St. James
Factors that Affect Solar Panel Costs in St. James
Cost is usually one of the most important factors for homeowners wanting to invest in solar. There are a few key factors that will push your cost above or below the average in St. James: solar equipment and system size, financing options and the solar installation company you choose. We’ll go over each of these briefly below.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a variety of factors. One of the key factors is the system size, which is measured in kilowatts (kW). Solar power systems that have greater efficiency or power generation use 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 brands — like Maxeon from SunPower — cost more upfront but also tend to offer higher efficiency. In a city like St. James, where sunlight is relatively abundant, efficiency can quickly pay off. Also, if you have a small roof or you don’t have a lot of 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
Solar panels can save you money on energy bills over time, but they can also be a significant investment. That’s why many St. James homeowners choose to finance their solar panel systems to offset upfront costs.When trying to figure out your overall cost, you should also calculate the interest you’ll pay if you decide on a solar loan. Also, paying more on your down payment can lower the total interest paid over time.
Solar Panel Installation Company
The solar panel installation company you select will play a role in your total cost to adopt solar power. Different companies will bill different amounts for the equipment and labor.The company’s size sometimes plays the most significant role in your costs. Larger national companies, like SunPro and Sunrun, often have lower prices because of access to greater resources and bulk pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or discount can bring their pricing down to compete with bigger companies.
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 | $8,067 | 17.1 years |
| 8 kW | $4.11 | $23,019 | $11,207 | 16.8 years |
| 10 kW | $4.03 | $28,210 | $14,573 | 16.5 years |
| 12 kW | $3.95 | $33,175 | $18,164 | 16.2 years |
| 14 kW | $3.87 | $37,914 | $21,982 | 15.8 years |
| 16 kW | $3.79 | $42,428 | $26,025 | 15.5 years |
| 18 kW | $3.71 | $46,716 | $30,293 | 15.2 years |
| 20 kW | $3.63 | $50,778 | $34,788 | 14.8 years |
How to Save on Solar Panels
Since the model of solar panels and the installer you choose has an impact on your costs and your system’s efficiency, production, and durability, it’s important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- Installation Process: Homeowners should understand how exactly the installation process will go, as well as important factors like the completion timeline.
- Contract: Before signing a contract with a solar installer, be sure to look it over fully so you understand the terms. Also, ask questions if you’re not certain about some of the terms, such as what to do if a component breaks or malfunctions and what services you can expect from them.
- Solar Panel Brands: Each solar panel brand and type has varying levels of quality, longevity and efficiency. They will come at different prices as well. The company you choose affects which solar panel brands you have access to.
- Warranty: A quality company rises above other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
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 St. James, MN Solar Cost FAQs
How much does it cost to install solar panels in St. James?
The average cost of solar panels in St. James 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 certain factors like the type of solar panels you want, what size system you need and how much energy you consume.
Is it better to lease or buy solar panels in St. James?
Leasing solar panels can be an option if you can’t afford to pay upfront or get a solar loan, but since you don’t own the system, you can’t take advantage of many solar incentives. Also your property value won’t increase, so you’ll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most savings from going solar.
Do solar panels increase how much your home is worth?
Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in St. James is currently $142,104, so you can expect a value of about $5,826 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in St. James is a worthwhile investment.
What solar power system size is right for my home?
To figure out what solar panel system size you need, you need to know how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average home will need 20 to 35 panels.
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.