Solar Panel Cost Guide in Winona, MN (2024 Update)

  • Winona Solar Installation Cost: $20,483
  • 25-Year Savings: $22,141
  • Payback Period: 14.0 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated February 03, 2024

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We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Winona

See how much it might cost to make the switch to solar in Winona.

The average cost of a solar system in Winona is 4 per watt.Since a 7.3-kW system is needed to cover the energy usage of a typical home in Winona, the average price of going solar will be about $20,483 after claiming the federal solar tax credit of 0.

Keep in mind that the numbers above are only averages. The price you’ll end up paying for solar will differ 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 savings for most homeowners is typically rewarding, with a net average savings of about $19,000 over 20 years on energy bills.

For a personalized quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.

Solar savings over time in Winona

Year Return on Investment
1 years $-19,203
3 years $-16,644
5 years $-14,086
7 years $-11,527
9 years $-8,968
11 years $-6,409
13 years $-3,850
15 years $-1,291
17 years $1,268
19 years $3,827
21 years $6,386
23 years $8,945
25 years $11,503

Top Solar Installers in Winona

Trying to install solar panels by yourself can be a stressful undertaking, which is why getting a solar installation company is a good option for many homeowners. Also, companies with a high reputation that cost more upfront could actually save you money in the long term because of their warranties, repair services and expert design.

You can get a free estimate from a local solar installer on how much your investment in solar could cost for your home. Here are some in Winona:

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.0

  • Expansive service area
  • Makes charitable contributions
  • Certified B Corp
  • No leases or PPAs
  • Quality of installation may vary by location

Best Technology

Tesla Energy

★★★★★
3.2

  • 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

Cost is often one of the most important factors for homeowners considering investing in solar. There are a few key factors that determine your overall cost in Winona: solar equipment and system size, financing options and the solar installation company you choose. We’ll discuss each of these briefly below.

Solar Equipment

The cost of solar panels varies by thousands of dollars due to a few different factors. One of the key factors is the system size, which is measured in kilowatts (kW). Solar power systems with better efficiency or power production need better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $4,030.Some solar panel brands — like Maxeon from SunPower — are more costly upfront but also tend to offer better efficiency. In a city like Winona, where sunlight isn’t as abundant, efficiency can quickly pay off. In addition, if you have a small roof or you don’t have a lot of space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.

Solar Financing Terms

For some homeowners, paying for solar out of pocket can be challenging. Solar loans are available from most installers in Winona, which can lower, 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 principal cost. Making a larger down payment or getting a solar loan with a low APR could reduce your costs remarkably.

Solar Panel Installation Company

Finally, the company you choose to install your solar panel system can play a role in determining your pricing. Winona’s solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Winona are more knowledgeable about local solar incentives and can help you learn about additional rebates or tax exemptions. Though, they may charge more for that service. Even if they cost more upfront, they could end up saving you 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 $4.19 $17,603 $12,621 14.6 years
8 kW $4.11 $23,019 $17,279 14.3 years
10 kW $4.03 $28,210 $22,163 14.0 years
12 kW $3.95 $33,175 $27,273 13.7 years
14 kW $3.87 $37,914 $32,608 13.4 years
16 kW $3.79 $42,428 $38,169 13.2 years
18 kW $3.71 $46,716 $43,956 12.9 years
20 kW $3.63 $50,778 $49,968 12.6 years

How to Save on Solar Panels

Since the brand of solar panels and the installation company you choose has an impact on your costs and your system’s durability and efficiency, it’s important to select the right ones for you. Here are some things to keep in mind to help with your decision:

  • Installation Process: Make sure you’re aligned with the installer in regard to how the installation process will go and what needs to be done before your solar panels are installed, such as updating or replacing your electrical system or roof.
  • Solar Panel Brands: Homeowners will have different preferences for panels based on their roof configurations and energy needs. Although there are many options for which kind of solar panel you can get, not every company will have the exact one you may want or need, so make sure you ask for their list of options before making your decision.
  • Warranty: If you care about the longevity of your solar panels, checking if your company offers a 25-year, all-inclusive warranty can help put you at ease.
  • Contract: It’s important to look over your solar installer’s contract closely to understand what services they will provide, what the warranty covers and what expectations you should have about your solar system’s energy production.

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.0

  • Expansive service area
  • Makes charitable contributions
  • Certified B Corp
  • No leases or PPAs
  • Quality of installation may vary by location

Best Technology

Tesla Energy

★★★★★
3.2

  • 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

What is the average cost of installing solar panels in Winona?

This is a tough question to answer precisely, because the cost depends on a variety of 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 more efficient panels, or if you have above-average energy usage. Conversely, you can spend less if you go with a smaller solar panel system or less expensive solar panels.

Is cost the most important consideration when buying solar panels?

Cost is without a doubt one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.

Is going solar worth it?

Whether or not solar panels are worth it depends on a variety of factors like the cost of electricity near you and how much direct sunlight your roof gets.

What solar power system size is right for my home?

To figure out what solar panel system size 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 typically 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.

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