Solar Panel Cost Guide in St Michael, MN (2023 Update)
- St Michael Solar Installation Cost: $14,174
- 25-Year Savings: $19,399
- Payback Period: 10.5 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in St Michael
We break down average solar pricing in St Michael.
The average cost of a solar system in St Michael is 2.84 per watt. To cover the typical energy needs of the average home in St Michael, most homeowners require a 7.1-kilowatt system. Using the per-watt figure above, a solar installation costs about $14,174, or $20,269 before the federal solar tax credit of 30% is applied.
Bear in mind that the figures above are only estimates based on the average energy use of St Michael homeowners. The cost of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor. Despite the large initial cost, the average St Michael homeowner can save about $18,000 on their energy bills over 20 years, which is one of the advantages of solar.
Click the button below to get connected to a reputable solar installer in St Michael for a custom quote.
Solar savings over time in St Michael
| Year | Return on Investment |
|---|---|
| 1 years | $-12,832 |
| 3 years | $-10,146 |
| 5 years | $-7,460 |
| 7 years | $-4,774 |
| 9 years | $-2,088 |
| 11 years | $598 |
| 13 years | $3,284 |
| 15 years | $5,970 |
| 17 years | $8,656 |
| 19 years | $11,341 |
| 21 years | $14,027 |
| 23 years | $16,713 |
| 25 years | $19,399 |
Top Solar Installers in St Michael
Although it's possible to install solar panels on your own, it takes extra effort and knowledge. For that reason, the majority of homeowners choose a solar panel installer. Also, companies with a high reputation that are more expensive upfront could actually save you money in the long run due to their warranties, repair services and expert design.
There are various licensed solar professionals that can help you install your solar system. Here are our suggestions:
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
For many St Michael homeowners, the decision to install solar panels comes down to cost. However, the range of solar installation costs can be quite wide in St Michael, with typical prices between $20,000 to $40,000. There are several factors that significantly influence the price you'll pay, which we'll go over below.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to some different 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 production need better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $2,840. Some solar panel brands — like Maxeon from SunPower — are more costly upfront but also tend to offer better efficiency. In a city like St Michael, where sunlight isn't as abundant, efficiency can quickly pay off. In addition, 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
For some homeowners, paying for a solar system out of pocket can be financially overwhelming. Solar loans are offered by most installers in St Michael, which can lower, or in some cases completely eliminate, your upfront costs to make solar more accessible. You'll have to consider the long-term cost of loans, including the total interest you'll pay over the length of the loan. If you're only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the original cost. Making a larger down payment or securing a solar loan with a low interest rate could reduce your costs significantly.
Solar Panel Installation Company
The last key cost factor you should take into consideration is the installer you choose. Given the growing popularity of green energy solutions in St Michael, you'll have plenty of options to choose from, but each comes at different price points for labor and equipment. Companies that 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 cost more. It's best to do some research and decide on the company that provides the products, warranties and services you want 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 | $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
There are many solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you find the right company for you, here are some tips to keep in mind:
- Warranty: A quality company stands out from other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Contract: Read the contract terms carefully to make sure you understand the total cost, completion timeline rebates and warranties.
- Reputation: Solar panel companies that have great reviews from their customers and that have been in business for many years likely provide good-quality solar panel installation and expertise.
- Solar Panel Brands: Each solar panel brand and kind offers varying levels of quality, longevity and efficiency. They will come at different costs as well. The company you choose plays a role in which solar panel brands you have access to.
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?
The average cost of solar panels in St Michael is about $14,200 for a 5-kW system and $28,400 for a 10-kW system before the ITC, but the actual cost will depend on stuff such as the model of solar panels you want, what size system you need and how much energy you use.
Is cost the most important consideration when buying solar panels?
Cost is a very important 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.
Do solar panels increase your property value?
Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in St Michael is currently $250,397, so you could be looking at a value of about $10,266 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in St Michael is a worthwhile investment.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy usage and how much 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.