Solar Panel Cost Guide in St Peter, MN (Jan 2023)
- St Peter Solar Installation Cost: $14,115
- 25-Year Savings: $20,191
- Payback Period: 10.3 Years
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Top Solar Installers in St Peter
Although it's possible to install solar panels by yourself, it requires extra labor and expertise. That's one of the reasons the majority of homeowners choose to hire a solar panel installer. Companies can also have access to a large variety of the best solar panels and help you choose which one will be right for your home.
You can work with a local solar installer to get a free estimate on how much solar panels could cost for your home. Here are some near you:
See all of the solar companies in St Peter
Factors that Affect Solar Panel Costs in St Peter
The cost of installing a solar system in St Peter can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The largest one is the size of the system your household needs, and other factors include the equipment you choose, financing options and the solar company you choose.
When it comes to estimating the price of a solar panel system in St Peter, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home's energy usage, which you can gauge by looking at past power bills. Your total cost can increase by around $2,840 for each additional kilowatt you need. The brand and type of equipment you get for your solar system can increase or decrease the price quite significantly. If you prefer a 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 will be looking at a higher equipment cost, but this can typically lead to more savings over time. Plus, if you want extra equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
If paying for solar panels out of pocket is too expensive, solar loans are a popular route because they decrease your upfront costs and let you pay for your system over five to seven years on average. When figuring 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
A final consideration when trying to figure out the cost of solar for your home or business in St Peter is the company you hire to install your solar panel system. Similar to choosing a company to build a deck or pool, for instance, you'll have no shortage of solar installers that offer a range of services at different costs. The company's size can sometimes play 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 better pricing. Smaller local companies might be more costly, but they can sometimes 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||$16,569||10.7 years|
|8 kW||$2.90||$16,222||$22,411||10.5 years|
|10 kW||$2.84||$19,880||$28,411||10.3 years|
|12 kW||$2.78||$23,379||$34,570||10.1 years|
|14 kW||$2.73||$26,719||$40,888||9.9 years|
|16 kW||$2.67||$29,900||$47,366||9.7 years|
|18 kW||$2.61||$32,921||$54,002||9.5 years|
|20 kW||$2.56||$35,784||$60,798||9.3 years|
How to Save on Solar Panels
The solar installer you opt for will be a major factor in determining not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are some important things you should take into account, including:
- Installation Process: Homeowners should understand how exactly the installation process will go, as well as important factors like the completion timeline.
- Reputation: Companies that have been in business for many years likely have a solid reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide adequate aftercare and customer service, such as part repairs and replacements.
- Contract: Read the contract terms closely to make sure you understand how much it will cost, project timeline rebates and warranties.
- Solar Panel Brands: Not all solar installers offer the same brands of solar panels, so the brand and type of panel you want can play a large role in the company you hire.
EcoWatch's St Peter, MN Solar Cost FAQs
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.