Solar Panel Cost Guide in Winona, MN (2023 Update)
- Winona Solar Installation Cost: $14,433
- 25-Year Savings: $22,142
- Payback Period: 9.9 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated May 04, 2023
Why you can trust EcoWatch
Average Cost of Solar Panels in Winona
Find out what the average cost of solar panel installation is in Winona.
The average cost of a solar panel system in Winona is 2.84 per watt. Using this figure, a typical 7.3-kW system would cost about $14,433 before the 30% federal solar tax credit is applied.
Keep in mind that the figures above are only estimates based on the average Winona homeowner. The price of a solar system for your home may look different depending on factors unique to you, like your household energy use and solar contractor. With average savings of about $19,000 on power bills over 20 years, many homeowners in Winona find going solar can be quite rewarding.
To see your potential ROI and connect with a local solar expert, click the button below.
Solar savings over time in Winona
| Year | Return on Investment |
|---|---|
| 1 years | $-12,970 |
| 3 years | $-10,044 |
| 5 years | $-7,118 |
| 7 years | $-4,192 |
| 9 years | $-1,266 |
| 11 years | $1,660 |
| 13 years | $4,586 |
| 15 years | $7,512 |
| 17 years | $10,438 |
| 19 years | $13,364 |
| 21 years | $16,290 |
| 23 years | $19,216 |
| 25 years | $22,142 |
Top Solar Installers in Winona
Many homeowners decide to hire a solar installation company since trying to put up solar panels yourself can be hard. Also, companies with a high reputation that cost more upfront could actually save you money in the long run with their warranties, repair services and expert design.
If you're on the hunt for a solar company in Winona, the EcoWatch team has organized a list of our top suggestions here:
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 Winona
Factors that Affect Solar Panel Costs in Winona
For many Winona homeowners, the decision to install solar panels depends on cost. However, the range of solar installation costs can be quite wide in Winona, with typical prices between $20,000 to $40,000. There are various factors that significantly influence the price you'll pay, which we'll go over below.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a variety of factors. One of the main factors is the system size, which is measured in kilowatts (kW). Solar power systems with higher efficiency or power generation need 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 want is another factor that will substantially influence costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to be more expensive. Furthermore, solar equipment is 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 searching for a solar system that's in your budget.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be challenging. Solar loans are offered by most installers in Winona, which can lower, or in some cases totally eliminate, your upfront costs to make solar more affordable. 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 lower the total interest paid over time.
Solar Panel Installation Company
The solar panel installation company you select will play a role in your total cost to adopt solar energy. Different companies will charge different amounts for the equipment and labor. You may come across national solar installers that have lower prices due to their bigger brand name and access to bulk equipment prices, 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 | $2.95 | $12,405 | $17,819 | 10.3 years |
| 8 kW | $2.90 | $16,222 | $24,076 | 10.1 years |
| 10 kW | $2.84 | $19,880 | $30,493 | 9.9 years |
| 12 kW | $2.78 | $23,379 | $37,069 | 9.7 years |
| 14 kW | $2.73 | $26,719 | $43,804 | 9.5 years |
| 16 kW | $2.67 | $29,900 | $50,698 | 9.3 years |
| 18 kW | $2.61 | $32,921 | $57,750 | 9.1 years |
| 20 kW | $2.56 | $35,784 | $64,962 | 8.9 years |
How to Save on Solar Panels
Since the brand of solar panels and the company you choose greatly affects your costs and your system's efficiency, production, and durability, it's important to select the right ones for you. Here are some tips to keep in mind to help with your decision:
- Reputation: Make sure your solar company has a good reputation by verifying 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: When reading over your solar installer's contract, ask questions about any terms you're not sure of and be sure you understand what happens in scenarios such as a system part breaking or if the company goes out of business.
- Installation Process: Make sure you're on the same page with the company regarding how the installation process will go and what needs to be done before your solar panels are installed, such as updating your electrical system or roof.
- Solar Panel Brands: Each solar panel brand and type has varying levels of quality, durability and energy efficiency. They will come at different prices as well. The company you choose has an impact on which solar panel brands you have access to.
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 Winona, MN Solar Cost FAQs
How much does it cost to install solar panels in Winona?
This is a hard question to answer exactly, 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. You can expect to pay more if you want other solar equipment or higher quality panels, or if you have higher-than-average energy needs. On the other hand, you can spend less if you choose a smaller solar panel system or less expensive solar panels.
Can you get solar panels for free in Winona?
A solar panel system isn't free in Winona, but there are some options that can make getting them more viable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can help lower the cost.
Is it worth going solar in Winona?
Solar panels can be a fruitful investment for many homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your energy bills are already fairly low, solar panels might not be for you.
How long do solar panels last in Winona?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is their energy production will have decreased significantly after that point. You can choose to replace them once you've had them for that long or you can keep using them at a lower efficiency.
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.