Solar Panel Cost Guide in St. Peter, MN (2023 Update)
- St. Peter Solar Installation Cost: $14,123
- 25-Year Savings: $20,183
- Payback Period: 10.3 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated September 15, 2023
Why you can trust EcoWatch
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 2.84 per watt on average. Using this figure, a typical 7.1-kW system would cost about $14,115 before the 30% federal solar tax credit is applied.
How much you pay can go above or below the average in St. Peter based on a few factors, such as the brand of solar panels you choose and the solar installer you hire. Many homeowners find adopting solar power is a sound investment. The average homeowner in St. Peter can save about $18,000 on their electricity bills over 20 years.
To calculate your potential ROI and connect with a local solar company, click the button below.
Solar savings over time in St. Peter
| Year | Return on Investment |
|---|---|
| 1 years | $-14,008 |
| 3 years | $-13,779 |
| 5 years | $-13,551 |
| 7 years | $-13,322 |
| 9 years | $-13,093 |
| 11 years | $-12,865 |
| 13 years | $-12,636 |
| 15 years | $-12,407 |
| 17 years | $-12,179 |
| 19 years | $-11,950 |
| 21 years | $-11,721 |
| 23 years | $-11,492 |
| 25 years | $-11,264 |
Top Solar Installers in St. Peter
Trying to put up solar panels yourself can be a difficult project, which is why getting a solar installer is a good option for many homeowners. Companies can also have access to a large variety of the best solar panels and help you decide which one will be right for your family.
You can get a free estimate from a local solar installer on how much your investment in solar could cost for your home. Here are some nearby:
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
For many St. Peter homeowners, the decision to install a solar energy system comes down to cost. However, the range of solar installation costs can be quite wide in St. Peter, with typical prices between $20,000 to $40,000. There are various factors that considerably influence the price you'll pay, which we'll go over below.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of going solar 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 about $2,840 per kilowatt in St. Peter. The brand and kind of equipment you get for your solar system can raise or lower the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often have a higher price tag than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have limited roof space 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 add-ons like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Solar panels can save you money on energy bills over many years, but they can also be a big investment. That's why many St. Peter homeowners choose to finance their solar panel systems to offset upfront costs. It's a good idea to add the interest you'll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and the amount of time it'll take to pay off the loan.
Solar Panel Installation Company
Lastly, the company you opt for to install your solar panel system can impact how much you pay. St. Peter's solar companies all have different labor costs and add varying upcharges to 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 come with an above-average cost. It's best to do some research and choose a company that has the products, warranties and services you're looking for 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 | $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.
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 $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 consume.
Is it better to lease or buy solar panels in St. Peter?
Leasing solar panels can be an attractive choice, as it typically comes with low or $0 upfront payments. The downside is that you won't be able to save as much. If you lease, you don't own the system, so you can't claim any tax rebates and credits and your home value won't increase. Buying solar panels is a better way to go if you want to maximize your savings.
How much can I save on power bills after switching to solar?
Solar panels can potentially eliminate your electricity bills depending on your location and how much sunlight your home gets. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $965.82 per year.
How often do you have to replace solar panels?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can replace them after having them for that long or you can continue to use them at a lower efficiency.
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.