Solar Panel Cost Guide in Watertown, MN (2025 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.
The average cost of a solar system in Watertown is 4 per watt.Using this figure, a typical 7.1-kW system would cost about $20,100 before the 0 federal solar tax credit is applied.
These figures are only estimates, and the cost of going solar for you will most likely look different based on the amount of energy your home requires and what company you go with.With average savings of about $18,000 on energy bills over 20 years, many homeowners in Watertown find going solar can be quite rewarding.
You can click the button below to get connected with a top solar company in Watertown that can help you get a more accurate cost estimate for your home.
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
When going solar, many homeowners choose to hire a solar installation company since installing a solar system yourself can be a difficult project. Solar installers offer key benefits that can help you get the most out of your investment, like warranties, monitoring and free repairs.
There are various licensed solar professionals that can install solar panels for you. Here are our suggestions:
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 many factors that can have a significant impact on the cost of a residential solar panel installation. Below are some of the more important things to consider.
Solar Equipment
When it comes to estimating the price of solar panels in Watertown, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home’s energy consumption, which you can gauge by looking at past energy bills. Your overall cost can increase by about $4,030 for each additional kilowatt you need.The solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you choose the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. However, more efficient panels could save you more over time on your electric bills. In addition, extra products, like solar batteries, can bring your total well above the Watertown average.
Solar Financing Terms
Solar panels can save you money on power bills over time, but they can also be a significant investment. That’s why many Watertown homeowners choose to finance their solar panel systems to make paying for solar more affordable.It’s a good idea to factor the interest you’ll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and the amount of time it’ll take to pay off the loan.
Solar Panel Installation Company
The solar installer you hire to handle your switch to sustainable energy can have an effect on your total costs. There are about 3 solar panel companies in Watertown, and each can charge varying amounts for labor and equipment.Larger national companies usually 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 add-on services like electric vehicle 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 | $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 company that does your solar system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Because picking a company can be a tough decision, we have some tips to help you, such as:
- Installation Process: Make sure you’re on the same page with the installer regarding how the installation process will go and what needs to be done before your solar panel system is installed, such as updating your electrical system or roof.
- Warranty: A quality company stands out from other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Reputation: Make sure your solar system installer has a good reputation by verifying it has certifications and licenses, checking its number of years in business and reading reviews by past customers and solar experts like the EcoWatch team.
- Contract: Read the contract terms carefully to make sure you understand the cost breakdown, completion timeline incentives and warranties.
EcoWatch's Watertown, MN Solar Cost FAQs
What is the average cost of installing solar panels in Watertown?
This is a hard question to answer exactly, because the cost depends on many factors. Broadly speaking, it costs about $20,150 for a 5-kW system and $40,300 for a 10-kW system after the ITC is applied. You can expect to pay more if you want extra solar equipment or more efficient panels, or if you have higher-than-average energy usage. On the other hand, you can spend less if you choose a smaller solar panel system or less expensive solar panels.
Should I lease or buy solar panels in Watertown?
Leasing solar panels can be an option if you are unable to pay upfront or secure a solar loan, but since you don’t own the system, you don’t have access to many solar incentives. Also your home 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 financial benefits from going solar.
Do solar panels increase how much your home is worth?
Buying or financing solar panels for your home 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, so you could be looking at 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 worthwhile investment.
What solar power system size is right for my home?
To figure out how many solar panels you need, you should find out how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can usually 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.