Solar Panel Cost Guide in Watab, MN (Jan 2023)

  • Watab Solar Installation Cost: $14,194
  • 25-Year Savings: $19,321
  • Payback Period: 10.6 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated January 20, 2023

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We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Watab

Let's take a look at the average cost of solar in Watab.

The average cost of a solar panel system in Watab is $3 per watt. Since a 7.1-kW system is needed to cover the energy costs of a typical home in Watab, the average price of going solar will be about $14,194 before claiming the federal solar tax credit of 30%.

These figures are only averages, and the cost of going solar for you may differ based on the amount of energy your home requires and what company you choose to go with. Even with the large initial cost, the average Watab homeowner can save about $18,000 on their power bills over 20 years, which is one of the perks of solar.

For a customized quote from a local solar installer that has been pre-vetted by the EcoWatch team, click the button below.

Solar savings over time in Watab

Year Return on Investment
1 years $-12,854
3 years $-10,173
5 years $-7,491
7 years $-4,810
9 years $-2,129
11 years $552
13 years $3,233
15 years $5,915
17 years $8,596
19 years $11,277
21 years $13,958
23 years $16,639
25 years $19,321

Top Solar Installers in Watab

When switching to solar energy, many homeowners choose to use a solar installer since overseeing your solar installation yourself can be a time-consuming project. Companies can also have access to quality options of the best solar panels and help you choose which one will be best for your home.

If you're looking for a solar installer in Watab, the EcoWatch team has put together a list of our top suggestions here:

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 Watab

Factors that Affect Solar Panel Costs in Watab

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

Solar Equipment

The size of the solar energy system you need, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by about $2,840. The kind of solar panels and equipment you get is another factor that will greatly impact costs. Solar panels that are more efficient, like monocrystalline panels, tend to be more pricey. Furthermore, solar equipment consists of more than just the solar panels themselves. You'll also need to consider the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when looking for a solar system that falls within your budget.

Solar Financing Terms

Many homeowners find the average cost of solar in Watab to be prohibitively steep, even if the investment pays off over time. Thankfully, almost every solar company in the area provides financing options. Solar loans remarkably decrease upfront costs in most cases, but they also lead to paying more over time due to interest. Though solar loans make switching to solar energy more accessible for Watab homeowners, they can also increase 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 solar company you hire to handle your switch to renewable energy can have an effect on your total costs. There are about 3 solar panel companies operating throughout Watab, and each can charge varying amounts for labor and equipment. Larger national companies generally have lower costs, but some local companies undercut them by promoting sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or additional services like electric car charger installation, they might be cheaper overall.

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 $15,745 11.0 years
8 kW $2.90 $16,222 $21,311 10.8 years
10 kW $2.84 $19,880 $27,037 10.6 years
12 kW $2.78 $23,379 $32,921 10.4 years
14 kW $2.73 $26,719 $38,965 10.2 years
16 kW $2.67 $29,900 $45,167 10.0 years
18 kW $2.61 $32,921 $51,529 9.7 years
20 kW $2.56 $35,784 $58,050 9.5 years

How to Save on Solar Panels

There are many solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you pick the right company for you, here are some tips to keep in mind:

  • Contract: It's important to look over your solar installer's contract thoroughly to understand what services they will provide, what the warranty covers and what expectations you should have about the cost.
  • Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and energy needs. Even though there are many options for which model 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 take a look at their list of options before deciding.
  • Reputation: Your solar installer should have a sound reputation as a company and have demonstrated expertise in the field. Two ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has satisfied reviews from past customers.
  • Installation Process: Get detailed information from your solar company about the installation process and what to expect, such as when the site survey will be done and what the project timeline is.

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 Watab, MN Solar Cost FAQs

What is the average cost of installing solar panels in Watab?

This is a hard question to answer precisely, because the cost depends on many 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 be more expensive if you want additional solar equipment or higher quality panels, or if you have higher-than-average energy needs. On the flip side, you can spend less if you want a smaller solar panel system or less expensive solar panels.

Is it better to lease or buy solar panels in Watab?

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 can't take advantage of 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 savings from going solar.

How will installing solar panels impact my property value?

Solar panels can increase the value of your home remarkably as long as you buy or finance your panels and don't opt for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% with a solar installation."

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.

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