Solar Panel Cost Guide in West Lakeland, MN (2024 Update)
- West Lakeland Solar Installation Cost: $20,370
- 25-Year Savings: $21,431
- Payback Period: 14.2 Years
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Average Cost of Solar Panels in West Lakeland
Find out what the average cost of solar panels are in West Lakeland.
The national average cost of solar panels is $2.66 per watt, but in West Lakeland it’s 4 per watt.Using this figure, a typical 7.2-kW system would cost about $20,370 before the 0 federal solar tax credit is applied.
Keep in mind that the figures above are only estimates based on the average West Lakeland homeowner. The price of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor.With average savings of about $19,000 on energy bills over 20 years, many homeowners in West Lakeland find going solar can be quite rewarding.
Click the button below to get connected to a top solar installer in West Lakeland for a custom estimate.
Solar savings over time in West Lakeland
| Year | Return on Investment |
|---|---|
| 1 years | $-19,090 |
| 3 years | $-16,531 |
| 5 years | $-13,973 |
| 7 years | $-11,414 |
| 9 years | $-8,855 |
| 11 years | $-6,296 |
| 13 years | $-3,737 |
| 15 years | $-1,178 |
| 17 years | $1,381 |
| 19 years | $3,940 |
| 21 years | $6,499 |
| 23 years | $9,058 |
| 25 years | $11,616 |
Top Solar Installers in West Lakeland
DIY solar panel installation is a choice some homeowners opt for, but it's an undertaking that can use up a lot of your time and energy. Going with a solar company can make your swap to solar power much easier. The expertise that solar companies offer can be useful as well, particularly if you don’t quite know what kind of solar equipment you need.
There are various licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
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 West Lakeland
Factors that Affect Solar Panel Costs in West Lakeland
For many West Lakeland homeowners, the decision to go solar comes down to cost. However, the range of solar installation costs can be quite wide in West Lakeland, with typical prices between $20,000 to $40,000. There are various factors that considerably influence the price you’ll pay, which we'll go over below.
Solar Equipment
When it comes to estimating the cost of a solar system in West Lakeland, 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 usage, which you can figure out by looking at past energy bills. Your total cost can increase by about $4,030 for each additional kilowatt you need.There are many different solar panel brands and the one you pick also affects the cost. In many cases, the brands that have better efficiency tend to also cost more. In addition, the type of equipment you’re looking to install can affect your total cost. If you only need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Solar panels can save you money on power bills over time, but they can also be a big investment. That’s why many West Lakeland homeowners choose to finance their solar panel systems to offset upfront costs.When estimating 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 reduce the total interest paid over time.
Solar Panel Installation Company
The solar panel installer you pick will affect your total cost to adopt solar power. Different companies will bill different amounts for the equipment and labor.The company’s size can sometimes play the most considerable role in your total costs. Larger national companies, like SunPro and Sunrun, often have lower pricing because of access to more resources and bulk pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or discount can bring their pricing lower to compete with bigger names.
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 | $12,133 | 14.8 years |
| 8 kW | $4.11 | $23,019 | $16,628 | 14.5 years |
| 10 kW | $4.03 | $28,210 | $21,350 | 14.2 years |
| 12 kW | $3.95 | $33,175 | $26,297 | 13.9 years |
| 14 kW | $3.87 | $37,914 | $31,469 | 13.7 years |
| 16 kW | $3.79 | $42,428 | $36,867 | 13.4 years |
| 18 kW | $3.71 | $46,716 | $42,491 | 13.1 years |
| 20 kW | $3.63 | $50,778 | $48,341 | 12.8 years |
How to Save on Solar Panels
The solar panel company you go with will be a major factor in determining not only your overall costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are some important things you should take into account, such as:
- Solar Panel Brands: The type of solar panel you need to get plays a role in which company you should choose, since different companies have access to different panels.
- Contract: When reading through your solar company’s contract, ask questions about any terms you’re not sure of and be sure you understand what happens in scenarios like a system component breaking or the company going out of business.
- Installation Process: One of the most important things to understand when going solar is the installation process itself. Be sure to align on any details you should know with your solar installer, such as what permits you should secure and how long the project will take.
- 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.
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 West Lakeland, MN Solar Cost FAQs
What is the average cost of installing solar panels in West Lakeland?
This is a tough 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. It will be more expensive if you want extra solar equipment or higher quality panels, or if you have above-average energy needs. On the other hand, you can spend less if you opt for a smaller solar panel system or less efficient solar panels.
What other factors should I consider apart from cost when buying solar panels?
Cost is without a doubt one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Do solar panels increase the value of your home?
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 West Lakeland is currently $472,064, so you could be looking at a value of about $19,355 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in West Lakeland is a worthwhile investment.
How many solar panels should I get to power my home?
To figure out how many solar panels you need, you need to know how much energy your home needs 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.