Solar Panel Cost Guide in Wadena, MN (2024 Update)
- Wadena Solar Installation Cost: $20,326
- 25-Year Savings: $13,633
- Payback Period: 18.2 Years
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Average Cost of Solar Panels in Wadena
We break down average solar pricing in Wadena.
The national average cost of solar panels is $2.66 per watt, but in Wadena it’s 4 per watt.The average solar panel system size in Wadena is around 7.2 kilowatts, meaning a cost of about $20,326 for a solar installation, or $29,066 before the 0 federal solar tax credit is applied.
Remember that the numbers above are only averages. The price you’ll end up paying for solar may look quite different based on your household energy needs, the type of solar system you choose, your solar contractor and more.Despite the significant upfront cost, the average Wadena homeowner can save about $15,000 on their power bills over 20 years, which is one of the perks of solar.
To get a free quote from a pre-vetted solar company in Wadena, you can click the button below.
Solar savings over time in Wadena
| Year | Return on Investment |
|---|---|
| 1 years | $-19,284 |
| 3 years | $-17,201 |
| 5 years | $-15,119 |
| 7 years | $-13,036 |
| 9 years | $-10,953 |
| 11 years | $-8,870 |
| 13 years | $-6,787 |
| 15 years | $-4,704 |
| 17 years | $-2,621 |
| 19 years | $-538 |
| 21 years | $1,544 |
| 23 years | $3,627 |
| 25 years | $5,710 |
Top Solar Installers in Wadena
Do-it-yourself solar panel installation is a way to cut costs, but it's an undertaking that can be a headache. Using an installer can make your swap to solar power much easier. Another benefit of going with a solar installer is that they can help you maximize your ROI by bringing down your future costs of repairs and replacements because of warranties and giving you information on local incentives you can take advantage of.
There are various licensed solar professionals that can help you install your solar panels. Here are our suggestions:
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 Wadena
Factors that Affect Solar Panel Costs in Wadena
For many Wadena homeowners, the decision to adopt solar energy comes down to cost. However, the range of solar installation costs can be quite wide in Wadena, with typical prices between $20,000 to $40,000. There are several factors that greatly influence the price you’ll pay, which we'll go over below.
Solar Equipment
When it comes to estimating the cost of a solar panel system in Wadena, 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 consumption, which you can figure out by looking at past electricity bills. Your overall cost can increase by about $4,030 for each additional kilowatt you need.The kind of solar panels and equipment you choose is another factor that will significantly impact costs. Solar panels that are more efficient, like monocrystalline panels, tend to cost more. Plus, solar equipment is more than just the solar panels themselves. You’ll also need to make decisions about the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when researching a solar system that falls within your budget.
Solar Financing Terms
Most solar installers in Wadena have solar loans, which reduce the initial cost of installing solar panels.Though solar loans make going solar more accessible for Wadena homeowners, they can also increase the total you pay for your system due to interest. If you make a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
The final key cost factor you should keep in mind is the installer you choose. Given the growing popularity of renewable energy solutions in Wadena, you’ll have a great number of options to choose from, but each comes at various price points for labor and equipment.Companies that only sell high-efficiency and high-priced products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally cost more. It’s best to do some research and choose a company that offers the products, warranties and services you’re looking for and also is within 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 | $4.19 | $17,603 | $5,678 | 18.9 years |
| 8 kW | $4.11 | $23,019 | $8,021 | 18.5 years |
| 10 kW | $4.03 | $28,210 | $10,591 | 18.2 years |
| 12 kW | $3.95 | $33,175 | $13,386 | 17.8 years |
| 14 kW | $3.87 | $37,914 | $16,407 | 17.4 years |
| 16 kW | $3.79 | $42,428 | $19,654 | 17.1 years |
| 18 kW | $3.71 | $46,716 | $23,126 | 16.7 years |
| 20 kW | $3.63 | $50,778 | $26,824 | 16.4 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you decide on the right company for you, here are some tips to keep in mind:
- Reputation: Make sure your solar panel installer has a good reputation by confirming it has certifications and licenses, checking its work history and reading reviews by previous customers and solar experts like EcoWatch.
- Solar Panel Brands: The brand of solar panel you’d like to install plays a part in which company you should choose, since different companies have different panels.
- Warranty: A quality company stands out from other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Contract: When looking through your solar company’s contract, ask questions about any terms you’re not sure of and be sure you understand what happens in scenarios like a system part breaking or if the company goes out of business.
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 Wadena, MN Solar Cost FAQs
What is the average cost of installing solar panels in Wadena?
The average cost of solar panels in Wadena is about $20,150 for a 5-kW system and $40,300 for a 10-kW system before the ITC, but the actual cost will depend on certain factors such as the model of solar panels you want, what size system you need and how much energy you use.
Is it better to lease or buy solar panels in Wadena?
Leasing solar panels can be an option if you can’t pay upfront or secure a solar loan, but since you don’t own the system, you don’t have access to 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 financial benefits from going solar.
Can solar panels significantly reduce my electricity bills?
It is possible to eradicate your electricity bills with solar panels, but for most homeowners in Wadena, that will require at least a 10-kW system. Not all homes can accommodate that size system, so you’ll want to contact a local solar installer to see how many panels can fit on your roof.
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 amount 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.