Solar Panel Cost Guide in Woodbury, MN (2023 Update)
- Woodbury Solar Installation Cost: $14,353
- 25-Year Savings: $21,936
- Payback Period: 9.9 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Woodbury
Here's how much it might cost to install solar panels in Woodbury.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Woodbury, the typical cost of solar panels is 2.84 per watt. The average Woodbury homeowner needs a 7.2-kilowatt system, which would cost about $14,353 with the federal tax credit, or $20,525 before the 30% tax credit is applied.
These figures are just estimates, and the cost of going solar for you will vary based on the amount of energy your home requires and what company you choose to go with. But, once you've paid the initial cost of installation, the payback for most homeowners is usually rewarding, with a net average savings of about $19,000 over 20 years on energy bills.
For a personalized quote from a local solar installer that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Woodbury
| Year | Return on Investment |
|---|---|
| 1 years | $-12,902 |
| 3 years | $-9,999 |
| 5 years | $-7,095 |
| 7 years | $-4,192 |
| 9 years | $-1,289 |
| 11 years | $1,614 |
| 13 years | $4,517 |
| 15 years | $7,420 |
| 17 years | $10,324 |
| 19 years | $13,227 |
| 21 years | $16,130 |
| 23 years | $19,033 |
| 25 years | $21,936 |
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:
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 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.
Solar Equipment
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.
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 tough question to answer precisely, because the cost depends on many factors. Generally speaking, it costs about $14,200 for a 5-kW system and $28,400 for a 10-kW system after the ITC is applied. It will be more expensive if you want other solar equipment or more efficient panels, or if you have above-average energy needs. On the other hand, you can spend less if you choose a smaller solar panel system or less efficient solar panels.
Can you get solar panels for free in Woodbury?
Solar panels aren't free in Woodbury, 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.
How much can I save on power bills after installing solar panels?
Solar panels can potentially eliminate your electricity bills depending on where you're located and the efficiency of your system. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $1,005.14 per year.
How often do you have to replace solar panels?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher amount 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.