Solar Panel Cost Guide in Woodbury, MN (2024 Update)
- Woodbury Solar Installation Cost: $20,370
- 25-Year Savings: $21,935
- Payback Period: 14.0 Years
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Average Cost of Solar Panels in Woodbury
Here’s how much it might cost to switch to solar power in Woodbury.
The average cost of a solar panel system in Woodbury is 4 per watt.The average solar panel system size in Woodbury is around 7.2 kilowatts, meaning a cost of about $20,370 for a solar installation, or $29,129 before the 0 federal solar tax credit is applied.
These figures are only averages, and your own solar costs may differ based on your energy needs and what company you go with.Many homeowners find installing solar panels is a sound investment. The average homeowner in Woodbury can save about $19,000 on their power bills over 20 years.
To receive a free estimate from a pre-vetted solar company in Woodbury, you can click the button below.
Solar savings over time in Woodbury
| 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 Woodbury
When making the switch to solar, many homeowners prefer to hire a solar installer since installing a solar system yourself can be a challenging project. The expertise that solar companies offer can be invaluable as well, particularly if you don’t quite know what brand of solar equipment would be right for your home.
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 nearby:
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 Woodbury
Factors that Affect Solar Panel Costs in Woodbury
For many Woodbury homeowners, the decision to go solar depends on cost. However, the range of solar installation costs can be quite wide in Woodbury, with typical prices between $20,000 to $40,000. There are numerous factors that greatly influence the price you’ll pay, which we'll go over below.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of installing solar panels. Because of that, it’s a priority to accurately ascertain the size of the solar energy system needed for your home by figuring out your typical energy use.The type of solar panels and equipment you get is another factor that will largely impact costs. Solar panels that are more efficient, like monocrystalline panels, tend to be more costly. Plus, solar equipment goes beyond just the solar panels themselves. You’ll also need to make decisions about the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when looking into a solar system that falls within your budget.
Solar Financing Terms
If paying for a solar system out of pocket is too expensive, solar loans are an affordable option because they lower your upfront costs and let you pay for your system over a term of, on average, between five and seven years.It’s a good idea to include the interest you’ll pay in your final cost estimate. If you can afford to pay a higher down payment, you can reduce your total costs and the amount of time it’ll take to pay back the loan.
Solar Panel Installation Company
The solar installation company you pick will play a role in your total cost to adopt solar power. Different companies will bill different amounts for the equipment and labor.Larger national companies typically have lower costs, but some local companies undercut them by promoting sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or additional 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 | $12,551 | 14.6 years |
| 8 kW | $4.11 | $23,019 | $17,186 | 14.3 years |
| 10 kW | $4.03 | $28,210 | $22,047 | 14.0 years |
| 12 kW | $3.95 | $33,175 | $27,134 | 13.8 years |
| 14 kW | $3.87 | $37,914 | $32,446 | 13.5 years |
| 16 kW | $3.79 | $42,428 | $37,984 | 13.2 years |
| 18 kW | $3.71 | $46,716 | $43,747 | 12.9 years |
| 20 kW | $3.63 | $50,778 | $49,736 | 12.6 years |
How to Save on Solar Panels
The company that does your 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 with regard to how the installation process will go and what you need to do before your solar system is installed, such as updating your electrical system or roof.
- Warranty: Each company may offer different kinds of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Solar Panel Brands: Each solar panel brand and model offers varying levels of quality, durability and energy efficiency. They will come at different costs as well. The company you choose impacts which solar panel brands you have access to.
- Contract: Though reading through a contract can be tedious, it’s important to do it thoroughly so you can make sure you understand how much the equipment and services will cost and the terms of the warranty.
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 Woodbury, MN Solar Cost FAQs
What is the average cost of installing solar panels in Woodbury?
This is a difficult question to answer exactly, because the cost depends on a few different 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 additional solar equipment or more efficient panels, or if you have above-average energy consumption. Conversely, you can spend less if you choose a smaller solar panel system or cheaper solar panels.
Can you get solar panels for free in Woodbury?
You can’t get solar panels for free in Woodbury. However, you may still be able to install them on a lower budget. You can lease solar panels for a low upfront cost or, if you want to own your solar panels, you can finance them with a solar loan.
How much can I save on electricity bills after installing solar panels?
It is possible to eliminate your electricity bills with solar panels, but for most homeowners throughout Woodbury, that will require at least a 10-kW system. Not all homes will have the roof space for that size system, so you’ll want to check with a local solar installer to see how many panels can fit on your roof.
How often do you have to replace solar panels?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is the amount of energy they produce 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.