Solar Panel Cost Guide in St. Michael, MN (2023 Update)
- St. Michael Solar Installation Cost: $14,166
- 25-Year Savings: $19,407
- Payback Period: 10.5 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in St. Michael
Here's how much it might cost to install solar panels in St. Michael.
The average cost of a solar panel system in St. Michael is 2.84 per watt. The average solar panel system size in St. Michael is around 7.1 kilowatts, meaning a cost of about $14,174 for a solar installation, or $20,269 before the 30% federal solar tax credit is applied.
Bear in mind that the figures above are only estimates based on the average St. Michael homeowner. The cost of a solar system for your home may be different depending on factors unique to your situation, like your household energy use and solar contractor. For many homeowners, the upfront cost of solar panels is worth paying. On average homeowners in St. Michael see about $18,000 in savings on utility bills over 20 years.
Click the button below to get connected to a reputable solar panel company in St. Michael for a personalized quote.
Solar savings over time in St. Michael
| Year | Return on Investment |
|---|---|
| 1 years | $-14,054 |
| 3 years | $-13,830 |
| 5 years | $-13,606 |
| 7 years | $-13,383 |
| 9 years | $-13,159 |
| 11 years | $-12,935 |
| 13 years | $-12,711 |
| 15 years | $-12,487 |
| 17 years | $-12,264 |
| 19 years | $-12,040 |
| 21 years | $-11,816 |
| 23 years | $-11,592 |
| 25 years | $-11,368 |
Top Solar Installers in St. Michael
Installing solar panels by yourself can be a time-consuming project, which is why using a solar installation company is a good option for many homeowners. The expertise that solar companies provide can be helpful as well, especially if you don't quite know what kind of solar equipment you need.
Working with a licensed 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. Michael
Factors that Affect Solar Panel Costs in St. Michael
Cost is usually one of the most important factors for homeowners who are considering investing in solar. There are a few major factors that affect your total cost in St. Michael: solar equipment and system size, financing options and the solar installation company you choose. We'll discuss each of these briefly below.
Solar Equipment
The size of the solar system you need for your home, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, your total will most likely increase by about $2,840. Some solar panel brands — like Maxeon from SunPower — are more costly upfront but also tend to offer higher efficiency. In a city like St. Michael, where sunlight isn't as abundant, efficiency can quickly pay off. Plus, 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
Many homeowners find the average cost of solar in St. Michael to be too expensive, even if the investment pays off over time. Fortunately, almost every solar company in the area offers financing options. Solar loans drastically decrease upfront costs in most cases, but they also result in higher prices over time due to interest. When trying to figure out your overall cost, you should also calculate the interest you'll pay if you go with a solar loan. Also, paying a higher down payment can lower the total interest paid over time.
Solar Panel Installation Company
The solar company you opt for to handle your switch to renewable energy can have an effect on your total costs. There are about 3 solar panel companies in St. Michael, and each can charge varying amounts for labor and equipment. The company's size sometimes plays the most considerable role in the cost of installation. Larger national companies, like SunPro and Sunrun, often have lower pricing because of 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 lower 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 | $2.95 | $12,405 | $15,864 | 11.0 years |
| 8 kW | $2.90 | $16,222 | $21,470 | 10.8 years |
| 10 kW | $2.84 | $19,880 | $27,235 | 10.5 years |
| 12 kW | $2.78 | $23,379 | $33,160 | 10.3 years |
| 14 kW | $2.73 | $26,719 | $39,243 | 10.1 years |
| 16 kW | $2.67 | $29,900 | $45,485 | 9.9 years |
| 18 kW | $2.61 | $32,921 | $51,886 | 9.7 years |
| 20 kW | $2.56 | $35,784 | $58,447 | 9.5 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because choosing a company can be a tough decision, we have some tips to help you, such as:
- Contract: Review the contract terms carefully to make sure you understand how much it will cost, project timeline incentives and warranties.
- Solar Panel Brands: The model of solar panel you'd like to get plays a role in which company you should opt for, since different companies have access to different panels.
- Warranty: A comprehensive, long-term warranty can help keep your solar panel system running for years to come and save you money on repairs and maintenance.
- Reputation: Make sure your solar installer has a good reputation by verifying it has certifications and licenses, checking its number of years in business and reading reviews by past customers and solar experts like the EcoWatch team.
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. Michael, MN Solar Cost FAQs
What is the average cost of installing solar panels in St. Michael?
This is a hard question to answer precisely, because the cost depends on many factors. Generally speaking, it costs about $14,200 for a 5-kW system and $28,400 for a 10-kW system after the ITC is applied. You can expect to pay more if you want other solar equipment or more efficient panels, or if you have higher-than-average energy usage. On the flip side, you can spend less if you choose a smaller solar panel system or less efficient solar panels.
Is cost the most important thing to consider when buying solar panels?
The upfront cost is a very important factor to consider, but whether it's the most important for you depends on your goals for going 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.
Is it worth going solar in St. Michael?
Solar panels can be a good investment for a majority of homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your power bills are already pretty low, solar panels might not be for you.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy needs and the average daily sunlight your roof gets. You can take a look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to buy between 20 and 35 panels to account for their typical energy usage.
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.