Solar Panel Cost Guide in St. Louis Park, MN (2023 Update)
- St. Louis Park Solar Installation Cost: $14,317
- 25-Year Savings: $21,469
- Payback Period: 10.0 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in St. Louis Park
We go over average solar pricing in St. Louis Park.
In St. Louis Park, solar panels cost about 2.84 per watt on average. The average solar panel system size in St. Louis Park is around 7.2 kilowatts, meaning a cost of about $14,314 for a solar installation, or $20,469 before the 30% federal solar tax credit is applied.
These figures are only estimates, and your own solar costs may look different based on factors unique to your home and what company you want to go with. With typical savings of about $19,000 on energy bills over 20 years, many homeowners in St. Louis Park find going solar has a decent ROI.
You can click the button below to get connected with a pre-vetted solar company in St. Louis Park that can help you get a more accurate cost estimate for your home.
Solar savings over time in St. Louis Park
| Year | Return on Investment |
|---|---|
| 1 years | $-13,038 |
| 3 years | $-10,479 |
| 5 years | $-7,920 |
| 7 years | $-5,361 |
| 9 years | $-2,802 |
| 11 years | $-243 |
| 13 years | $2,316 |
| 15 years | $4,874 |
| 17 years | $7,433 |
| 19 years | $9,992 |
| 21 years | $12,551 |
| 23 years | $15,110 |
| 25 years | $17,669 |
Top Solar Installers in St. Louis Park
Installing solar panels by yourself can be a stressful task, which is why hiring a solar installation company is a good option for many homeowners. Local solar installers can also help you maximize your return on investment by walking you through any local incentives you can take advantage of and by offering warranties and repairs.
You can get a free quote from a local solar installer on the cost of solar panels for your home. Here are some in St. Louis Park:
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. Louis Park
Factors that Affect Solar Panel Costs in St. Louis Park
There are several criteria that can determine your installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar panels.
Solar Equipment
The size of the solar system you need, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by nearly $2,840. The brand and kind of equipment you get for your solar system can increase or decrease the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these are often more expensive than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have a small roof or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to more savings over time. Plus, if you want additional equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
If paying for a solar system out of pocket is out of reach, solar loans are a solid option because they reduce your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years. However, the interest on solar loans also adds to your total costs, so it's vital to consider that as well. You can always bring down the total you pay in interest and possibly even your APR by making a larger down payment.
Solar Panel Installation Company
The solar company you go with to handle your switch to renewable energy can have an effect on your total costs. There are about 3 solar panel companies operating in St. Louis Park, and each can charge varying amounts for labor and equipment. You may see national solar installers that have lower prices because of their bigger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or specials to compete with those major players.
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 | $17,409 | 10.4 years |
| 8 kW | $2.90 | $16,222 | $23,530 | 10.2 years |
| 10 kW | $2.84 | $19,880 | $29,810 | 10.0 years |
| 12 kW | $2.78 | $23,379 | $36,249 | 9.8 years |
| 14 kW | $2.73 | $26,719 | $42,847 | 9.6 years |
| 16 kW | $2.67 | $29,900 | $49,604 | 9.4 years |
| 18 kW | $2.61 | $32,921 | $56,520 | 9.2 years |
| 20 kW | $2.56 | $35,784 | $63,596 | 9.0 years |
How to Save on Solar Panels
The solar company you go with will impact not only your overall costs, but also the types of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are some important things you should keep in mind, such as:
- 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.
- Warranty: Many companies offer different types of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Reputation: Your solar installer should have a solid reputation as a company and have verifiable expertise in the field. A couple of ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from past customers.
- Solar Panel Brands: Different companies will carry various brands and kinds of panels. If you know you want a specific brand, make sure the solar installer you're considering has it.
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. Louis Park, MN Solar Cost FAQs
How much does it cost to install solar panels in St. Louis Park?
This is a difficult question to answer exactly, because the cost depends on a variety of factors. Broadly speaking, it costs about $14,200 for a 5-kW system and $28,400 for a 10-kW system after the ITC is applied. It will be more expensive if you want other solar equipment or more efficient panels, or if you have higher-than-average energy needs. Conversely, you can spend less if you go with a smaller solar panel system or cheaper solar panels.
Is it better to lease or buy solar panels in St. Louis Park?
Leasing solar panels can be an option if you can't pay upfront or secure 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.
Does St. Louis Park have a net metering program?
Most states have net metering programs of some kind. Through these, you can either get paid for the extra power your system generates or or receive credits to put toward future electricity bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.
How long do solar panels last in St. Louis Park?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger amount 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.