Solar Panel Cost Guide in Waite Park, MN (2023 Update)
- Waite Park Solar Installation Cost: $14,135
- 25-Year Savings: $19,920
- Payback Period: 10.4 Years
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Updated May 04, 2023
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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 2.84 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 $20,213 before 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 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 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, which is measured in kilowatts, 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 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 Waite Park, MN Solar Cost FAQs
How much does it cost to install solar panels in Waite Park?
The average cost of solar panels in Waite Park is about $14,200 for a 5-kW system and $28,400 for a 10-kW system before the ITC, but the real cost will depend on certain factors such as the type of solar panels you want, what size system you need and how much energy you use.
Is cost the most important consideration when buying solar panels?
The initial cost is a very important 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 be more important than the cost. Other factors that are important to consider are the quality and durability of your solar panels.
Is it worth going solar in Waite Park?
Whether or not solar panels are worth it depends on some different factors like local electricity rates and how much direct sunlight your roof gets.
How often do you have to replace solar panels?
On average, solar panels can last 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 higher 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.