Solar Panel Cost Guide in Grand Forks, ND (2023 Update)
- Grand Forks Solar Installation Cost: $30,283
- 25-Year Savings: $44,725
- Payback Period: 10.1 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Grand Forks
Let's take a look at the average cost of solar in Grand Forks.
The average cost of a solar panel system in Grand Forks is 2.42 per watt. Because a 17.9-kW system is needed to cover the energy usage of a typical home in Grand Forks, the average price of going solar will be about $30,289 after claiming the federal solar tax credit of 30%.
The true cost of your system can go above or below the average in Grand Forks based on a variety of factors, such as the brand of solar panels you choose and the solar company you hire. Many homeowners find going solar is a rewarding investment. The average homeowner in Grand Forks can save about $16,000 on their power bills over 20 years.
To get a free estimate from a vetted solar installation company in Grand Forks, you can click the button below.
Solar savings over time in Grand Forks
| Year | Return on Investment |
|---|---|
| 1 years | $-28,814 |
| 3 years | $-25,878 |
| 5 years | $-22,942 |
| 7 years | $-20,005 |
| 9 years | $-17,069 |
| 11 years | $-14,133 |
| 13 years | $-11,196 |
| 15 years | $-8,260 |
| 17 years | $-5,324 |
| 19 years | $-2,387 |
| 21 years | $549 |
| 23 years | $3,485 |
| 25 years | $6,422 |
Top Solar Installers in Grand Forks
Installing solar panels by yourself can be a difficult project, which is why using a solar installer is a good option for many homeowners. Also, companies with a high reputation that are more expensive upfront could actually save you money in the long run because of their warranties, repair services and expert design.
You can get a free quote from a local solar installer on how much solar panels could cost for your home. Here are some near you:
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 Grand Forks
Factors that Affect Solar Panel Costs in Grand Forks
There are several factors that can determine your solar panel installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar panels.
Solar Equipment
When it comes to estimating the cost of a solar energy system in Grand Forks, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are primarily based on your home's energy consumption, which you can figure out by looking at past power bills. Your overall cost can increase by about $2,420 for each additional kilowatt you need. The type of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you choose the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. On the other hand, more efficient panels could save you more in the long run on your power bills. Additionally, extra products, like solar batteries, can bump up your total well above the Grand Forks average.
Solar Financing Terms
Many homeowners find the average cost of solar in Grand Forks to be prohibitively steep, even if the investment pays off over time. Thankfully, almost every solar installer in the area offers financing options. Solar loans drastically decrease upfront costs for most homeowners, but they also result in a higher cost over time due to interest. However, the interest on solar loans also increases your overall costs, so it's vital to include that in your estimate as well. You can always lower the total you pay in interest and possibly even your APR by putting more money down.
Solar Panel Installation Company
Lastly, the company you opt for to install your solar system can play a role in determining the cost. Grand Forks' solar companies all have different labor costs and add varying upcharges to equipment. The size of the company can sometimes play the most considerable role in the cost. Larger national companies, like SunPro and Sunrun, often have lower prices because of access to greater resources and better 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 | $2.52 | $10,571 | $14,605 | 10.5 years |
| 8 kW | $2.47 | $13,823 | $19,744 | 10.3 years |
| 10 kW | $2.42 | $16,940 | $25,019 | 10.1 years |
| 12 kW | $2.37 | $19,921 | $30,429 | 9.9 years |
| 14 kW | $2.32 | $22,767 | $35,975 | 9.7 years |
| 16 kW | $2.27 | $25,478 | $41,656 | 9.5 years |
| 18 kW | $2.23 | $28,053 | $47,473 | 9.3 years |
| 20 kW | $2.18 | $30,492 | $53,425 | 9.1 years |
How to Save on Solar Panels
Since the model of solar panels and the installer you choose greatly affects your costs and your system's durability and efficiency, it's important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- Solar Panel Brands: Homeowners will have different preferences for panels based on their roof configurations and how much efficiency they need. 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 be sure to take a look at their list of offerings before making your decision.
- Installation Process: Homeowners should make sure they understand how exactly the installation process will go, as well as important factors like the completion timeline.
- Reputation: Make sure your solar panel installer has a good reputation by verifying it has certifications and licenses, checking how long it's been in business and reading reviews by past customers and solar experts like the EcoWatch team.
- Contract: It's important to look over your solar installer's contract well to understand what services they will provide, what the warranty covers and what expectations you should have about the project timeline.
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 Grand Forks, ND Solar Cost FAQs
What is the average cost of installing solar panels in Grand Forks?
This is a difficult question to answer precisely, because the cost depends on a few different factors. Broadly speaking, it costs about $12,100 for a 5-kW system and $24,200 for a 10-kW system after the ITC is applied. It will cost more if you want other solar equipment or more efficient panels, or if you have above-average energy usage. On the flip side, you can spend less if you go with a smaller solar panel system or less efficient solar panels.
Is it better to lease or buy solar panels in Grand Forks?
Leasing solar panels can be an appealing choice, because it typically comes with low or $0 upfront payments. The downside is that you won't be able to save as much. If you lease, you don't own the system, so you can't claim any tax rebates and credits and your home value won't increase. Buying solar panels is a better way to go if you want to get the most savings.
Is going solar worth it?
Solar panels can be a good investment for many homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your energy bills are already reasonably low, solar panels might not be for you.
How long do solar panels last in Grand Forks?
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 how much energy they produce will have decreased significantly after that point. You can opt to replace them after having 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.