Solar Panel Cost Guide in Waconia, MN (2024 Update)
- Waconia Solar Installation Cost: $20,100
- 25-Year Savings: $18,803
- Payback Period: 15.2 Years
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Average Cost of Solar Panels in Waconia
We break down average solar pricing in Waconia.
The national average cost of solar panels is $2.66 per watt, but in Waconia it’s 4 per watt.The average solar panel system size in Waconia is around 7.1 kilowatts, meaning a cost of about $20,100 for a solar installation, or $28,743 before the 0 federal solar tax credit is applied.
The prices above are just estimates to give you an idea of how much solar panels could cost. The exact cost of going solar can vary depending on multiple factors, such as what size system you need, your energy usage and what company you go with.But, after you've paid the upfront cost of installation, the return on investment for most homeowners is usually fruitful, with a net average savings of about $18,000 over 20 years on power bills.
You can click the button below to get connected with a top solar installer in Waconia for a quote for your home.
Solar savings over time in Waconia
| Year | Return on Investment |
|---|---|
| 1 years | $-18,821 |
| 3 years | $-16,262 |
| 5 years | $-13,703 |
| 7 years | $-11,144 |
| 9 years | $-8,585 |
| 11 years | $-6,026 |
| 13 years | $-3,467 |
| 15 years | $-908 |
| 17 years | $1,650 |
| 19 years | $4,209 |
| 21 years | $6,768 |
| 23 years | $9,327 |
| 25 years | $11,886 |
Top Solar Installers in Waconia
Many homeowners opt for a solar panel installer since trying to install solar panels on your own can be hard. Also, companies with a good reputation that are more expensive upfront could actually save you money in the long run with their warranties, repair services and expert design.
You can work with a local solar installer to get a free estimate on how much your investment in solar could cost for your home. Here are some in Waconia:
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 Waconia
Factors that Affect Solar Panel Costs in Waconia
Although the average cost of a solar system in Waconia is $20,100, your actual cost may be above or below the average. There are many factors that can have a significant impact on the cost of a solar system installation. Below are some of the more important things to keep in mind.
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 uses, the larger your system will likely need to be. You can expect to pay around $4,030 per kilowatt in Waconia.The kind of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you opt for 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 electric bills. Additionally, add-on products, such as solar batteries, can bump up your total well above the Waconia average.
Solar Financing Terms
Many homeowners find the average cost of solar in Waconia to be too expensive, even if the investment pays off over time. Fortunately, almost every solar installer in the area provides financing options. Solar loans remarkably decrease upfront costs in most cases, but they also lead to paying more over time because of interest.When estimating your overall cost, you should also calculate the interest you’ll pay if you choose to go with a solar loan. Also, paying more upfront can reduce the total interest paid over time.
Solar Panel Installation Company
The final major cost factor you should consider is the installer you choose. Given the growing popularity of clean energy solutions in Waconia, you’ll have plenty of options to choose from, but each comes at different price points for labor and equipment.Additionally, some companies in Waconia have more knowledge about local solar incentives and can help you take advantage of additional rebates or tax exemptions. However, they may charge more for walking you through the whole process. Even if they cost more upfront, they could end up saving you more money in the long run.
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 | $10,158 | 15.9 years |
| 8 kW | $4.11 | $23,019 | $13,996 | 15.5 years |
| 10 kW | $4.03 | $28,210 | $18,059 | 15.2 years |
| 12 kW | $3.95 | $33,175 | $22,348 | 14.9 years |
| 14 kW | $3.87 | $37,914 | $26,862 | 14.6 years |
| 16 kW | $3.79 | $42,428 | $31,602 | 14.3 years |
| 18 kW | $3.71 | $46,716 | $36,568 | 14.0 years |
| 20 kW | $3.63 | $50,778 | $41,760 | 13.7 years |
How to Save on Solar Panels
There are many companies to choose from in Waconia, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be difficult, so here are some tips to help you decide:
- Solar Panel Brands: Not all solar installers carry the same brands of solar panels, so the brand and type of panel you want can play a substantial role in the company you go with.
- Contract: Though reading through a contract can take a lot of time, it’s important to do it fully so you can be sure you understand what services your solar company will provide and how part repairs and replacements will be handled.
- Warranty: Many companies offer different types of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Installation Process: Get details from your solar installer about the installation process and what to expect, including when the site survey will be completed and how long it 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 Waconia, MN Solar Cost FAQs
How much does it cost to install solar panels in Waconia?
The average cost of solar panels in Waconia 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 certain factors such as the kind of solar panels you want, what size system you need and how much energy you consume.
Should I lease or buy solar panels in Waconia?
Leasing solar panels can be an attractive choice, because it often 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 incentives and your home value won’t increase. Buying solar panels is a better option if you want to maximize your savings.
Does Waconia have a net metering program?
The majority of states have net metering programs of some kind. Through these, you can either get paid for the extra power your system generates or or receive credits to put toward future electricity bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.
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 goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger 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.