Solar Panel Cost Guide in St. Peter, MN (2024 Update)
- St. Peter Solar Installation Cost: $20,040
- 25-Year Savings: $20,183
- Payback Period: 14.6 Years
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Average Cost of Solar Panels in St. Peter
Let’s have a look at the average cost of solar in St. Peter.
In St. Peter, solar panels cost about 4 per watt on average.The average St. Peter homeowner needs a 7.1-kilowatt system, which would cost about $20,040 with the federal tax credit, or $28,657 before the 0 tax credit is applied.
The true cost of your system can be above or below the average in St. Peter depending on a variety of factors, such as the type of solar panels you choose and the solar installer you hire.Many homeowners find going solar is a solid investment. The average homeowner in St. Peter can save around $18,000 on their power bills over 20 years.
To calculate your potential savings and connect with a local solar company, click the button below.
Solar savings over time in St. Peter
| Year | Return on Investment |
|---|---|
| 1 years | $-18,761 |
| 3 years | $-16,202 |
| 5 years | $-13,643 |
| 7 years | $-11,084 |
| 9 years | $-8,525 |
| 11 years | $-5,966 |
| 13 years | $-3,407 |
| 15 years | $-848 |
| 17 years | $1,711 |
| 19 years | $4,269 |
| 21 years | $6,828 |
| 23 years | $9,387 |
| 25 years | $11,946 |
Top Solar Installers in St. Peter
Although you can install solar panels on your own, it involves extra energy and expertise. For that reason, most people choose to hire a solar panel installer. Some solar companies, particularly local ones, can help you better understand incentives in St. Peter, therefore optimizing your ROI.
If you’d like to go solar but still aren’t sure which solar panel installer to go with, here are our recommendations for providers near you:
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. Peter
Factors that Affect Solar Panel Costs in St. Peter
There are many factors that can play into your installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that performs the installation.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household consumes, the larger your system will likely need to be. You can expect to spend around $4,030 per kilowatt in St. Peter.Some solar brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer better efficiency. In a city like St. Peter, where sunlight is relatively abundant, efficiency can quickly pay off. Also, 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
Solar panels can save you money on power bills over time, but they can also be a big investment. That’s why many St. Peter homeowners choose to finance their solar panel systems to make going solar more affordable.You’ll have to consider the long-term cost of financing options, including the amount of 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 principal cost. Making a larger down payment or getting a solar loan with a low interest rate could reduce your costs considerably.
Solar Panel Installation Company
Lastly, the company you hire to install your solar system can impact your pricing. St. Peter’s solar companies all have different labor costs and add varying upcharges to equipment. You may see national solar installers that have lower prices due to their bigger brand name and access to bulk prices, or you might see small, local installation companies offering deals or promotions to compete with those larger 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 | $11,371 | 15.2 years |
| 8 kW | $4.11 | $23,019 | $15,613 | 14.9 years |
| 10 kW | $4.03 | $28,210 | $20,081 | 14.6 years |
| 12 kW | $3.95 | $33,175 | $24,774 | 14.3 years |
| 14 kW | $3.87 | $37,914 | $29,693 | 14.0 years |
| 16 kW | $3.79 | $42,428 | $34,837 | 13.7 years |
| 18 kW | $3.71 | $46,716 | $40,208 | 13.4 years |
| 20 kW | $3.63 | $50,778 | $45,804 | 13.1 years |
How to Save on Solar Panels
The solar installer you choose will be a major factor in determining not only your total 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 consider, including:
- Contract: Before signing a contract with a solar company, make sure you look it over completely so you understand the terms. Also, ask questions if you’re not sure 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: Homeowners will have different preferences for panels depending on their locations and energy needs. While there are many options for which brand of solar panel you can get, not every company will have access to the exact one you may want or need, so be sure to ask for their list of options before deciding.
- Warranty: If you’re worried about the endurance of your solar panels, checking if your company offers a 25-year, all-inclusive warranty can help put you at ease.
- Installation Process: One of the most important things to understand when going solar is the installation process itself. Be sure to clarify any details you need to know with your solar company, such as what permits you should acquire and how long the project will take.
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. Peter, MN Solar Cost FAQs
How much does it cost to install solar panels in St. Peter?
The average cost of solar panels in St. Peter 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 things such as the kind of solar panels you want, what size system you need and how much energy you use.
Can you get solar panels for free in St. Peter?
You can’t get solar panels for free in St. Peter. However, you may still be able to afford them on a lower budget. You can lease solar panels for a low upfront cost or, if you’d rather own your solar panels, you can finance them with a solar loan.
Do solar panels increase how much your home is worth?
Solar panels can increase your home value significantly as long as you buy or finance your panels and don’t choose a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing a solar system."
How often do you have to replace solar panels?
On average, the lifespan of solar panels is 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 higher level 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.