Solar Panel Cost Guide in Stewartville, MN (2023 Update)
- Stewartville Solar Installation Cost: $14,335
- 25-Year Savings: $22,635
- Payback Period: 9.7 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Stewartville
Find out what the average cost of a solar system is in Stewartville.
The national average cost of solar panels is $2.66 per watt, but in Stewartville it's 2.84 per watt. Using this figure, a typical 7.2-kW system would cost about $14,333 before the 30% federal solar tax credit is applied.
Keep in mind that the figures above are only estimates based on the average energy use of Stewartville homeowners. The price 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. With typical savings of about $19,000 on electricity bills over 20 years, many homeowners in Stewartville find investing in solar can be quite rewarding.
You can click the button below to get connected with a vetted solar company in Stewartville for a quote for your home.
Solar savings over time in Stewartville
| Year | Return on Investment |
|---|---|
| 1 years | $-14,212 |
| 3 years | $-13,966 |
| 5 years | $-13,719 |
| 7 years | $-13,473 |
| 9 years | $-13,226 |
| 11 years | $-12,980 |
| 13 years | $-12,733 |
| 15 years | $-12,487 |
| 17 years | $-12,240 |
| 19 years | $-11,994 |
| 21 years | $-11,747 |
| 23 years | $-11,501 |
| 25 years | $-11,255 |
Top Solar Installers in Stewartville
Although you can install solar panels by yourself, it requires extra energy and know-how. For that reason, the majority of homeowners choose to go with a solar panel installer. Another upside of working with a solar company is that they can help you maximize your return of investment by bringing down your future costs of repairs and replacements with the help of warranties and giving you information on local incentives you can take advantage of.
Working with a professional solar company can help your solar project go smoothly. 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 Stewartville
Factors that Affect Solar Panel Costs in Stewartville
Although the average cost of a solar system in Stewartville is $14,333, your actual cost may differ. There are several factors that can have a major impact on the cost of a solar system installation. Below are some of the more crucial things to take into consideration.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to some different factors. One of the major factors is the system size, which is measured in kilowatts (kW). Solar power systems with greater efficiency or power generation use 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. The kind of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you get the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. However, more efficient panels could save you more over time on your power bills. Additionally, extra products, such as solar batteries, can bump up your total well above the Stewartville average.
Solar Financing Terms
Many homeowners find the average cost of solar in Stewartville to be prohibitively steep, even if the investment pays off over time. Fortunately, almost every solar installer in the area provides access to financing options. Solar loans remarkably decrease upfront costs in most cases, but they also result in paying more over time because of interest. Although solar loans make switching to solar energy more accessible for Stewartville homeowners, they can also raise the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you make a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
Finally, the company you get to install your solar panel system can influence how much it costs. Stewartville's solar companies all have different labor costs and add varying upcharges to equipment. Larger national companies typically have lower costs, but some local companies compete with them by offering sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or extra services like electric vehicle charger installation, they might be cheaper overall.
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 | $18,356 | 10.1 years |
| 8 kW | $2.90 | $16,222 | $24,793 | 9.9 years |
| 10 kW | $2.84 | $19,880 | $31,389 | 9.7 years |
| 12 kW | $2.78 | $23,379 | $38,144 | 9.5 years |
| 14 kW | $2.73 | $26,719 | $45,058 | 9.3 years |
| 16 kW | $2.67 | $29,900 | $52,131 | 9.1 years |
| 18 kW | $2.61 | $32,921 | $59,363 | 8.9 years |
| 20 kW | $2.56 | $35,784 | $66,754 | 8.7 years |
How to Save on Solar Panels
The solar panel company 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 a few important things you should consider, including:
- Warranty: If you're concerned about the endurance of your solar system, verifying that your company offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Contract: Before signing a contract with a solar installer, make sure you read it through fully 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 part breaks or malfunctions and if there are any guarantees about energy production.
- Reputation: Your solar installer should have a sound reputation as a company and have proven expertise in the field. Two ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from past customers.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and how much efficiency they need. Although there are many options for which model 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 peruse their list of offerings before making your decision.
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 Stewartville, MN Solar Cost FAQs
What is the average cost of installing solar panels in Stewartville?
This is a tough question to answer exactly, because the cost depends on a variety of factors. Broadly speaking, it costs about $14,200 for a 5-kW system and $28,400 for a 10-kW system after the ITC is applied. It will cost more if you want other solar equipment or higher quality panels, or if you have higher-than-average energy needs. On the other hand, you can spend less if you go with a smaller solar panel system or less efficient solar panels.
Is it better to lease or buy solar panels in Stewartville?
Leasing solar panels can be an option if you can't afford to pay upfront or secure a solar loan, but since you don't own the system, you can't take advantage of many solar incentives. Also your property value won't increase, so you'll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most bang for your buck from going solar.
Do solar panels increase your home value?
Solar panels can increase your property's value remarkably as long as you buy or finance your panels and don't opt for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% with a solar installation."
How long do solar panels last in Stewartville?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is their energy production will have decreased significantly after that point. You can replace them once you've had 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.