Solar Panel Cost Guide in Woodbury, MN (Jan 2023)
- Woodbury Solar Installation Cost: $14,353
- 25-Year Savings: $21,936
- Payback Period: 9.9 Years
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Top Solar Installers in Woodbury
Trying to put up solar panels yourself can be a time-consuming project, which is why hiring a solar installer is a good option for many homeowners. A solar company can also help save you money over the lifespan of your system by providing warranties, repairs and system component replacements.
Working with a licensed solar company can help your solar project go smoothly. Here are our recommendations:
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 rests 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 significantly influence the price you'll pay, which we'll go over below.
When it comes to estimating the cost of a solar panel system in Woodbury, one of the most important 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 consumption, which you can figure out by looking at past electricity bills. Your overall cost can increase by about $2,840 for each additional kilowatt you need. Some solar panel brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer better efficiency. In a city like Woodbury, where sunlight isn't as abundant, efficiency can quickly pay off. Also, if you have a small roof or limited 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
If paying for a solar system out of pocket is too expensive, solar loans are a solid option because they reduce your upfront costs and let you pay for your system over a term of, on average, between five and seven years. When considering your overall cost, you should also calculate the interest you'll pay if you choose to 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 installer you choose will impact your total cost to adopt solar energy. Different companies will charge different amounts for the equipment and labor. The size of the company sometimes plays the most considerable role in your costs. Larger national companies, like SunPro and Sunrun, often have lower prices because they have greater 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 promotion can bring their pricing down 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||$2.95||$12,405||$17,749||10.3 years|
|8 kW||$2.90||$16,222||$23,984||10.1 years|
|10 kW||$2.84||$19,880||$30,377||9.9 years|
|12 kW||$2.78||$23,379||$36,930||9.7 years|
|14 kW||$2.73||$26,719||$43,641||9.5 years|
|16 kW||$2.67||$29,900||$50,512||9.3 years|
|18 kW||$2.61||$32,921||$57,542||9.1 years|
|20 kW||$2.56||$35,784||$64,730||8.9 years|
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you find the right company for you, here are some tips to keep in mind:
- Contract: Read the contract terms thoroughly to make sure you understand how much it will cost, project completion timeline incentives and warranties.
- Reputation: Solar system installers that have great reviews from their customers and that have been operating for many years most likely offer good-quality solar panel installation and expertise.
- 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 company, such as what permits you should secure and how long the project will take.
- Solar Panel Brands: Not all solar companies have the same brands of solar panels, so the brand and type of panel you want can play a large role in the company you choose.
EcoWatch's Woodbury, MN Solar Cost FAQs
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.