Solar Panel Cost Guide in Willmar, MN (2023 Update)
- Willmar Solar Installation Cost: $14,054
- 25-Year Savings: $17,444
- Payback Period: 11.2 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Willmar
Let's take a look at the average cost of solar in Willmar.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Willmar, the average cost of a solar system is 2.84 per watt. The average solar panel system size in Willmar is around 7.1 kilowatts, meaning a cost of about $14,055 for a solar installation, or $20,099 before the 30% federal solar tax credit is applied.
Keep in mind that the numbers above are only averages. The price you'll end up paying for solar may vary based on your household energy needs, the type of solar system you want, your solar contractor and more. But, after you've paid the initial cost of installation, the ROI for most homeowners is quite rewarding, with a net average savings of about $17,000 over 20 years on energy bills.
To get a free quote from a highly rated solar installation company in Willmar, you can click the button below.
Solar savings over time in Willmar
| Year | Return on Investment |
|---|---|
| 1 years | $-13,949 |
| 3 years | $-13,739 |
| 5 years | $-13,529 |
| 7 years | $-13,319 |
| 9 years | $-13,109 |
| 11 years | $-12,899 |
| 13 years | $-12,689 |
| 15 years | $-12,479 |
| 17 years | $-12,269 |
| 19 years | $-12,059 |
| 21 years | $-11,849 |
| 23 years | $-11,639 |
| 25 years | $-11,429 |
Top Solar Installers in Willmar
Trying to install solar panels on your own can be a challenging task, which is why using a solar installation company is a good option for many homeowners. Also, if you'd like to maximize your investment in solar, using a solar company can help with that too. Different providers can offer warranties, expertise on solar panel installation and sometimes even information on local incentives, rebates and net metering programs.
If you'd like to switch to solar energy but still aren't sure which solar company to go with, here are our suggestions for providers nearby:
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 Willmar
Factors that Affect Solar Panel Costs in Willmar
While the average cost of a solar system in Willmar is $14,055, your actual cost may be higher or lower than that. There are several factors that can have a major impact on the cost of a residential solar panel installation. Below are some of the more important things to consider.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a few different factors. One of the notable factors is the system size, which is measured in kilowatts (kW). Solar power systems with greater efficiency or power generation use better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $2,840. The model of solar panels and equipment you get is another factor that will considerably affect costs. Solar panels that are more efficient, like monocrystalline panels, tend to cost more. Furthermore, solar equipment consists of more than just the solar panels themselves. You'll also need to decide on the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when researching a solar system that's in your budget.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be financially overwhelming. Solar loans are offered by most installers in Willmar, which can bring down, or in some cases completely eliminate, your upfront costs to make solar more accessible. You'll have to consider the long-term cost of financing options, including the amount of 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 more than the original cost. Making a larger down payment or getting a solar loan with a low interest rate could reduce your costs significantly.
Solar Panel Installation Company
The solar installer you opt for to handle your switch to clean energy can have an effect on your total costs. There are about 3 solar installation companies operating in Willmar, and each can charge different amounts for labor and equipment. Additionally, some companies in Willmar are more knowledgeable about local solar incentives and can help you make good use of additional rebates or tax exemptions. However, they may charge more for walking you through the whole process. Even if they cost more upfront, they could help you save more money in the long run.
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 | $14,328 | 11.6 years |
| 8 kW | $2.90 | $16,222 | $19,422 | 11.4 years |
| 10 kW | $2.84 | $19,880 | $24,675 | 11.2 years |
| 12 kW | $2.78 | $23,379 | $30,087 | 10.9 years |
| 14 kW | $2.73 | $26,719 | $35,658 | 10.7 years |
| 16 kW | $2.67 | $29,900 | $41,388 | 10.5 years |
| 18 kW | $2.61 | $32,921 | $47,277 | 10.3 years |
| 20 kW | $2.56 | $35,784 | $53,326 | 10.0 years |
How to Save on Solar Panels
There are many companies to choose from in Willmar, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be challenging, so here are some tips to help you decide:
- Reputation: Make sure your solar installer has a good reputation by confirming it has certifications and licenses, checking how long it's been in business and reading reviews by past customers and solar experts like EcoWatch.
- Contract: Look through the contract terms closely to make sure you understand how much it will cost, project completion timeline rebates and warranties.
- Warranty: Warranties that cover defective panels and repairs over a couple decades are the gold standard in the business, and offering such a warranty is one sign of a good company.
- Solar Panel Brands: Different companies carry various brands and kinds of panels. If you want a specific brand, make sure the solar panel company you're considering has it.
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 Willmar, MN Solar Cost FAQs
What is the average cost of installing solar panels in Willmar?
The average cost of solar panels in Willmar is about $14,200 for a 5-kW system and $28,400 for a 10-kW system before the ITC, but the real cost will depend on things like the model of solar panels you want, what size system you need and how much energy you use.
What other factors should I consider apart from cost when buying solar panels?
Cost is a crucial factor to consider, but whether it's the most important for you depends on your reasons for going solar. In cities where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to be mindful of are the quality and durability of your solar panels.
Does Willmar have a net metering program?
Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just offer you credit toward your future electricity bills.
How often do you have to replace solar panels?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases 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.