Solar Panel Cost Guide in Worthington, MN (2023 Update)
- Worthington Solar Installation Cost: $13,996
- 25-Year Savings: $15,319
- Payback Period: 11.9 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Worthington
Find out what the average cost of a solar system is in Worthington.
The national average cost of solar panels is $2.66 per watt, but in Worthington it's 2.84 per watt. The average Worthington homeowner needs a 7.0-kilowatt system, which would cost about $13,996 with the federal tax credit, or $20,014 before the 30% tax credit is applied.
Remember that the numbers above are only averages. The price you'll pay for solar will differ based on your household energy use, the type of solar system you choose, your solar contractor and more. Many homeowners find adopting solar power is a fruitful investment. The average homeowner in Worthington can save around $16,000 on their energy bills over 20 years.
You can click the button below to get connected with a pre-vetted solar company in Worthington for a quote for your home.
Solar savings over time in Worthington
| Year | Return on Investment |
|---|---|
| 1 years | $-12,823 |
| 3 years | $-10,478 |
| 5 years | $-8,133 |
| 7 years | $-5,787 |
| 9 years | $-3,442 |
| 11 years | $-1,097 |
| 13 years | $1,248 |
| 15 years | $3,593 |
| 17 years | $5,939 |
| 19 years | $8,284 |
| 21 years | $10,629 |
| 23 years | $12,974 |
| 25 years | $15,319 |
Top Solar Installers in Worthington
Although it's possible to install solar panels yourself, it involves extra energy and know-how. For that reason, most homeowners choose a solar panel installer. Some solar companies, particularly local ones, can help you take advantage of incentives in Worthington, therefore optimizing your ROI.
If you'd like to switch to solar energy but still aren't sure which solar panel installer to go with, here are our recommendations for providers in Worthington:
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 Worthington
Factors that Affect Solar Panel Costs in Worthington
There are a number of criteria that can influence your solar panel installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that performs the installation.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of installing solar panels. That's why 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 kind of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you get the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. However, more efficient panels could save you more over time on your electric bills. Additionally, add-on products, like solar batteries, can bump up your total well above the Worthington average.
Solar Financing Terms
Many homeowners find the average cost of solar in Worthington to be too steep, even if the investment pays off over time. Thankfully, almost every solar installer in the area offers financing options. Solar loans remarkably decrease upfront costs for most homeowners, but they also lead to paying more over time due to interest. When trying to figure out your overall cost, you should also calculate the interest you'll pay if you opt for a solar loan. Also, paying a higher down payment can reduce the total interest paid over time.
Solar Panel Installation Company
The solar installer you choose will affect your total cost to adopt solar power. Different companies will bill different amounts for the equipment and labor. Companies that only sell high-quality, high-efficiency and high-price products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come with an above-average cost. It's best to do some research and find a company that offers the products, warranties and services you want and also fit into your budget.
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 | $12,572 | 12.4 years |
| 8 kW | $2.90 | $16,222 | $17,081 | 12.2 years |
| 10 kW | $2.84 | $19,880 | $21,749 | 11.9 years |
| 12 kW | $2.78 | $23,379 | $26,576 | 11.7 years |
| 14 kW | $2.73 | $26,719 | $31,562 | 11.5 years |
| 16 kW | $2.67 | $29,900 | $36,707 | 11.2 years |
| 18 kW | $2.61 | $32,921 | $42,011 | 11.0 years |
| 20 kW | $2.56 | $35,784 | $47,474 | 10.7 years |
How to Save on Solar Panels
Since the kind of solar panels and the installer you choose considerably influences 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:
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and how much efficiency they need. While there are many options for which kind of solar panel you can get, not every company will have access to the exact one you may want or need, so make sure you peruse their list of options before deciding.
- Reputation: Companies that have been in business for many years likely have a high reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide quality aftercare and customer support, such as part repairs and replacements.
- Contract: When reading over your solar installer's contract, ask for clarification about any terms you're not sure of and make sure you understand what happens in scenarios like a system component breaking or if the company goes out of business.
- 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.
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 Worthington, MN Solar Cost FAQs
How much does it cost to install solar panels in Worthington?
This is a difficult question to answer exactly, because the cost depends on a few different 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 additional solar equipment or higher quality panels, or if you have above-average energy consumption. On the other hand, you can spend less if you opt for a smaller solar panel system or less efficient solar panels.
What other factors should I consider other than cost when buying solar panels?
Cost is without a doubt one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Do solar panels increase the value of your home?
Solar panels can increase your property's value considerably as long as you buy or finance your panels and don't opt for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% with a solar installation."
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 needs and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average house 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.