Solar Panel Cost Guide in Waseca, MN (Mar 2023)
- Waseca Solar Installation Cost: $14,194
- 25-Year Savings: $21,296
- Payback Period: 10.0 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Waseca
Find out what the average cost of solar panel installation is in Waseca.
In Waseca, solar panels cost about 2.84 per watt on average. Using this figure, a typical 7.1-kW system would cost about $14,194 before the 30% federal solar tax credit is applied.
Keep in mind that the figures above are only estimates based on the average Waseca homeowner. The cost of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor. Many homeowners find going solar is a rewarding investment. The average homeowner in Waseca can save around $19,000 on their energy bills over 20 years.
To calculate your potential savings and connect with a local solar expert, click the button below.
Solar savings over time in Waseca
| Year | Return on Investment |
|---|---|
| 1 years | $-12,775 |
| 3 years | $-9,935 |
| 5 years | $-7,096 |
| 7 years | $-4,257 |
| 9 years | $-1,418 |
| 11 years | $1,422 |
| 13 years | $4,261 |
| 15 years | $7,100 |
| 17 years | $9,939 |
| 19 years | $12,779 |
| 21 years | $15,618 |
| 23 years | $18,457 |
| 25 years | $21,296 |
Top Solar Installers in Waseca
Do-it-yourself solar panel installation is a way to cut costs, but it's an undertaking that can be a pain. Using an installer can make your swap to solar power much easier. The expertise that solar installers provide can be valuable as well, particularly if you don't quite know what brand of solar equipment would be right for your home.
If you'd like to switch to solar energy but still aren't certain which solar system installer to go with, here are our recommendations for providers in Waseca:
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
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
See all of the solar companies in Waseca
Factors that Affect Solar Panel Costs in Waseca
Although the average cost of a solar system in Waseca is $14,194, your actual cost may differ. There are several factors that can have a sizable impact on the cost of a solar system installation. Below are some of the more important things to consider.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of going solar. Because of that, it's important to accurately gauge the size of the solar energy system needed for your home by figuring out your typical energy use. Some solar brands — like Maxeon from SunPower — cost more upfront but also tend to offer higher efficiency. In a city like Waseca, where sunlight isn't as abundant, efficiency can quickly pay off. Also, if you have a small roof or you don't have a lot of 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
Many homeowners find the average cost of solar in Waseca to be too costly, even if the investment pays off over time. Fortunately, almost every solar installer in the area provides financing options. Solar loans drastically decrease upfront costs in most cases, but they also lead to a higher cost over time because of interest. You'll have to consider the long-term cost of financing options, including the total interest you'll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or finding a solar loan with a low APR could reduce your costs significantly.
Solar Panel Installation Company
A final consideration when trying to evaluate the cost of solar for your home or business in Waseca is the company you hire to install your solar system. Similar to choosing a company to renovate your kitchen, for instance, there's no shortage of solar installers that provide a range of services for different budgets. Companies that only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come at a higher cost. It's best to do some research and go with the company that has the products, warranties and services you want and also fits 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 | $2.95 | $12,405 | $17,406 | 10.4 years |
| 8 kW | $2.90 | $16,222 | $23,526 | 10.2 years |
| 10 kW | $2.84 | $19,880 | $29,805 | 10.0 years |
| 12 kW | $2.78 | $23,379 | $36,243 | 9.8 years |
| 14 kW | $2.73 | $26,719 | $42,840 | 9.6 years |
| 16 kW | $2.67 | $29,900 | $49,596 | 9.4 years |
| 18 kW | $2.61 | $32,921 | $56,511 | 9.2 years |
| 20 kW | $2.56 | $35,784 | $63,586 | 9.0 years |
How to Save on Solar Panels
The solar panel company you opt for 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 several important things you should consider, including:
- Solar Panel Brands: Different companies have different brands and kinds of panels. If you know you want a specific brand, make sure the solar panel installer you're considering has it.
- Reputation: Long-standing companies likely have a good reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide adequate aftercare and customer support, such as part repairs and replacements.
- Contract: Before signing a contract with a solar company, make sure you look it over carefully so you understand the terms. Also, ask questions if you're unsure about some of the terms, such as what the warranty covers and if there are any guarantees about energy production.
- Warranty: An all-inclusive, 25-year warranty can help keep your solar panels running smoothly and save you money on part replacement and repairs.
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
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
EcoWatch's Waseca, MN Solar Cost FAQs
What is the average cost of installing solar panels in Waseca?
This is a difficult question to answer precisely, 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 more efficient panels, or if you have higher-than-average energy consumption. On the flip side, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.
Are solar panels free in Waseca?
You can't get solar panels for free in Waseca. However, you may still be able to get them on a lower budget. You can lease solar panels for a low upfront cost or, if you'd rather own your solar panels, you can finance them with a solar loan.
Do solar panels increase your property value?
Installing solar panels on your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Waseca is currently $160,900, so you could be looking at a value of about $6,597 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Waseca is a fruitful investment.
How often do you have to replace solar panels?
Although 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 how much energy they produce will have decreased significantly after that point. You can decide to 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.