Solar Panel Cost Guide in Watertown, MN (2024 Update)
- Watertown Solar Installation Cost: $20,100
- 25-Year Savings: $19,647
- Payback Period: 14.9 Years
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Average Cost of Solar Panels in Watertown
Find out what the average cost of solar panels are in Watertown.
Although the national average of solar panels is $2.66 per watt, solar panels in Watertown typically cost about 4.Since a 7.1-kW system is needed to cover the energy consumption of a typical home in Watertown, the average price of going solar will be about $20,100 after claiming the federal solar tax credit of 0.
Bear in mind that the figures above are only estimates based on the average Watertown homeowner. The price of a solar system for your home may be different depending on factors unique to your situation, like your household energy use and solar contractor.Many homeowners find adopting solar power is a fruitful investment. The average homeowner in Watertown can save around $18,000 on their electricity bills over 20 years.
To get a free quote from a pre-vetted solar installer in Watertown, you can click the button below.
Solar savings over time in Watertown
| Year | Return on Investment |
|---|---|
| 1 years | $-18,821 |
| 3 years | $-16,262 |
| 5 years | $-13,703 |
| 7 years | $-11,144 |
| 9 years | $-8,585 |
| 11 years | $-6,026 |
| 13 years | $-3,467 |
| 15 years | $-908 |
| 17 years | $1,650 |
| 19 years | $4,209 |
| 21 years | $6,768 |
| 23 years | $9,327 |
| 25 years | $11,886 |
Top Solar Installers in Watertown
Do-it-yourself solar panel installation is a way to cut costs, but it's an undertaking that can take a lot of hard work. Hiring a solar company can make switching to solar power much easier. Another good thing about choosing a reliable solar installer is that it'll likely provide warranties and free repairs, which help protect your investment.
If you’d like to go solar but still aren’t certain which solar panel company to go with, here are our suggestions for providers in Watertown:
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 Watertown
Factors that Affect Solar Panel Costs in Watertown
Though the average cost of a solar system in Watertown is $20,100, your final cost may differ. There are several factors that can have a major impact on the cost of a solar system installation. Below are some of the more important things to keep in mind.
Solar Equipment
When it comes to estimating the price of a solar panel system in Watertown, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are chiefly based on your home’s energy consumption, which you can gauge by looking at past electricity bills. Your total cost can increase by about $4,030 for each additional kilowatt you need.The brand and type of equipment you choose for your solar system can raise or lower the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these often come at a higher price than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have limited roof space or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to more savings over time. Also, if you want add-ons like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
If paying for a solar system out of pocket is difficult, solar loans are an affordable option because they decrease your upfront costs and let you pay for your system over a term of, on average, between five and seven years.When trying to figure out your overall cost, you should also calculate the interest you’ll pay if you go with a solar loan. Also, paying more on your down payment can lower the total interest paid over time.
Solar Panel Installation Company
The solar company you choose to handle your switch to sustainable energy can play a part in your total costs. There are about 3 solar installation companies operating throughout Watertown, and each can charge varying amounts for labor and equipment.You may notice national solar installers that have lower prices because of their larger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or promotions to compete with those larger companies.
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 | $10,869 | 15.5 years |
| 8 kW | $4.11 | $23,019 | $14,944 | 15.2 years |
| 10 kW | $4.03 | $28,210 | $19,244 | 14.9 years |
| 12 kW | $3.95 | $33,175 | $23,770 | 14.6 years |
| 14 kW | $3.87 | $37,914 | $28,521 | 14.3 years |
| 16 kW | $3.79 | $42,428 | $33,498 | 14.0 years |
| 18 kW | $3.71 | $46,716 | $38,701 | 13.7 years |
| 20 kW | $3.63 | $50,778 | $44,130 | 13.4 years |
How to Save on Solar Panels
The solar company you opt for will be a major factor in determining not only your overall costs, but also the types of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are some important things you should keep in mind, such as:
- Installation Process: Homeowners should understand how exactly the installation process will go, as well as important factors like the project timeline.
- Warranty: If you care about the endurance of your solar system, making sure your installer offers a 25-year, all-inclusive warranty can help put you at ease.
- Reputation: Solar system installers that have great reviews from their customers and that have been in business for many years likely provide high-quality solar panel installation and expertise.
- Contract: It’s important to look over your solar installer’s contract fully to understand what services they will provide, what the warranty covers and what you can expect about your solar system’s energy production.
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 Watertown, MN Solar Cost FAQs
How much does it cost to install solar panels in Watertown?
The average cost of solar panels in Watertown 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 stuff such as the model of solar panels you want, what size system you need and how much energy you consume.
Is it better to lease or buy solar panels in Watertown?
Leasing solar panels can be an appealing choice, as it usually comes with low or $0 upfront payments. The downside is that you won’t be able to save as much. If you lease, you don’t own the system, so you can’t claim any tax rebates and credits and your home value won’t increase. Buying solar panels is a better way to go if you want to get the most savings.
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 Watertown is currently $361,997, which means you can expect a value of about $14,842 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Watertown is a fruitful investment.
How many solar panels do I need to power my home?
To figure out how many solar panels you need, you need to know how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can generally produce about 250 to 400 watt-hours per hour, the average home will need 20 to 35 panels.
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.