Solar Panel Cost Guide in Waite Park, MN (Nov 2022)

  • Waite Park Solar Installation Cost: $14,135
  • 25-Year Savings: $19,920
  • Payback Period: 10.4 Years

See cost of a solar system near you:

EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 11/09/2022

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Average Cost of Solar Panels in Waite Park

We break down average solar pricing in Waite Park.

The national average cost of solar panels is $2.66 per watt, but in Waite Park it's $3 per watt. The average solar panel system size in Waite Park is around 7.1 kilowatts, meaning a cost of about $14,135 for a solar installation, or $10,460 after the 30% federal solar tax credit is applied.

Keep in mind that the numbers above are only averages. The price you'll end up paying for solar will differ based on your household energy use, the type of solar panels you want to get, your solar contractor and more. Many homeowners find installing solar panels is a rewarding investment. The average homeowner in Waite Park can save around $18,000 on their electricity bills over 20 years.

Click the button below to get connected to a vetted solar panel company in Waite Park for a personalized estimate.

Solar savings over time in Waite Park

Year Return on Investment
1 years $-12,772
3 years $-10,048
5 years $-7,324
7 years $-4,599
9 years $-1,875
11 years $849
13 years $3,574
15 years $6,298
17 years $9,022
19 years $11,747
21 years $14,471
23 years $17,195
25 years $19,920

Top Solar Installers in Waite Park

Do-it-yourself solar panel installation is a possibility, but it's an undertaking that can use up a lot of your time and energy. Hiring a solar company can make your switch to solar power much easier. Also, companies with a high reputation that are more expensive upfront could actually save you money in the long term with their warranties, repair services and expert design.

Working with a vetted solar installer can make going solar easier. Here are our recommendations:

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Technology

Tesla Energy

★★★★★
4.5

  • 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

Best Social Impact

Palmetto Solar

★★★★★
4.0

  • Expansive service area
  • Makes charitable contributions
  • Certified B Corp
  • No leases or PPAs
  • Quality of installation may vary by location

See all of the solar companies in Waite Park

Factors that Affect Solar Panel Costs in Waite Park

For many Waite Park homeowners, the decision to adopt solar energy comes down to cost. However, the range of solar installation costs can be quite wide in Waite Park, with typical prices between $20,000 to $40,000. There are numerous factors that greatly influence the price you'll pay, which we'll go over below.

Solar Equipment

The size of the solar panel system you need to offset your energy usage is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by nearly $2,840. Some solar panel brands — like Maxeon from SunPower — are more costly upfront but also tend to offer higher efficiency. In a city like Waite Park, where sunlight isn't as abundant, efficiency can quickly pay off. Plus, if you have a small roof or limited space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.

Solar Financing Terms

For some homeowners, paying for solar panels out of pocket can be financially overwhelming. Solar loans are available from most installers in Waite Park, which can reduce, or in some cases completely eliminate, your upfront costs to make solar more accessible. While solar loans make adopting solar energy more accessible for Waite Park 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

The final significant cost factor you should consider is the installer you choose. Given the growing popularity of green energy solutions in Waite Park, you'll have many options to choose from, but each comes at varying price points for labor and equipment. Additionally, some companies in Waite Park 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 that service. Even if they cost more upfront, they could help you save 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 $2.95 $12,405 $16,344 10.8 years
8 kW $2.90 $16,222 $22,110 10.6 years
10 kW $2.84 $19,880 $28,035 10.4 years
12 kW $2.78 $23,379 $34,119 10.2 years
14 kW $2.73 $26,719 $40,362 10.0 years
16 kW $2.67 $29,900 $46,765 9.8 years
18 kW $2.61 $32,921 $53,326 9.5 years
20 kW $2.56 $35,784 $60,046 9.3 years

How to Save on Solar Panels

Since the model of solar panels and the installer you choose has an impact on your costs and your system's durability and efficiency, it's important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:

  • Solar Panel Brands: Homeowners will have different preferences for panels depending on their roof configurations and energy needs. Even though 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 offerings before making your decision.
  • Installation Process: Homeowners should understand how exactly the installation process will go, as well as important factors like the project completion timeline.
  • Contract: Although reading through a contract can take a lot of time, it's important to do it carefully so you can make sure you understand how much the equipment and services will cost and the terms of the warranty.
  • Warranty: A quality company rises above other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Technology

Tesla Energy

★★★★★
4.5

  • 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

Best Social Impact

Palmetto Solar

★★★★★
4.0

  • Expansive service area
  • Makes charitable contributions
  • Certified B Corp
  • No leases or PPAs
  • Quality of installation may vary by location

EcoWatch's Waite Park, MN Solar Cost FAQs

What is the average cost of installing solar panels in Waite Park?

This is a hard question to answer precisely, because the cost depends on many factors. Generally speaking, it costs about $14,200 for a 5-kW system and $28,400 for a 10-kW system after the ITC is applied. You can expect to pay more if you want additional solar equipment or more efficient panels, or if you have higher-than-average energy needs. Conversely, you can spend less if you want a smaller solar panel system or less expensive solar panels.

Is cost the most important thing to keep in mind when buying solar panels?

The initial cost is a crucial factor to consider, but whether it's the most important for you depends on your goals for going solar. In places where rooftop space is limited, efficiency can trump the cost. Other factors that are important to take into account are the quality and durability of your solar panels.

Do solar panels increase your property value?

Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Waite Park is currently $185,136, which means you can look forward to a value of about $7,591 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Waite Park is a fruitful investment.

How long do solar panels last in Waite Park?

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 after having them for that long or you can keep using 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.

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