Solar Panel Cost Guide in Alexandria, MN (2024 Update)
- Alexandria Solar Installation Cost: $19,912
- 25-Year Savings: $14,565
- Payback Period: 17.4 Years
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Average Cost of Solar Panels in Alexandria
Here’s how much it might cost to make the switch to solar in Alexandria.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Alexandria, the typical cost of solar panels is 4 per watt.To account for the typical energy needs of the average home in Alexandria, most homeowners require a 7.1-kilowatt system. Using the per-watt figure above, a solar installation costs about $19,912, or $28,474 before the federal solar tax credit of 0 is applied.
These figures are just estimates, and the cost of going solar for you will look different based on your energy needs and what company you choose to go with.But, after you've paid the initial cost of installation, the payback for most homeowners is usually rewarding, with a net average savings of about $15,000 over 20 years on electricity bills.
To receive a free estimate from a pre-vetted solar installer in Alexandria, you can click the button below.
Solar savings over time in Alexandria
| Year | Return on Investment |
|---|---|
| 1 years | $-18,950 |
| 3 years | $-17,025 |
| 5 years | $-15,100 |
| 7 years | $-13,176 |
| 9 years | $-11,251 |
| 11 years | $-9,327 |
| 13 years | $-7,402 |
| 15 years | $-5,477 |
| 17 years | $-3,553 |
| 19 years | $-1,628 |
| 21 years | $297 |
| 23 years | $2,221 |
| 25 years | $4,146 |
Top Solar Installers in Alexandria
Many homeowners opt for a solar panel company since installing solar panels on your own can be a labor-intensive endeavor. Plus, warranties and repairs from your solar panel installer can protect your investment and lower the cost of maintenance over time.
Working with a vetted solar company can help your solar project go smoothly. Here are our recommendations:
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 Alexandria
Factors that Affect Solar Panel Costs in Alexandria
There are many factors that can affect your total installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that does the installation.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more energy your household uses, the larger your system will likely need to be. You can expect to spend about $4,030 per kilowatt in Alexandria.Some solar brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer better efficiency. In a city like Alexandria, where sunlight is relatively abundant, efficiency can quickly pay off. Plus, 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
Solar panels can save you money on energy bills over time, but they can also be a big investment. That’s why many Alexandria homeowners decide to finance their solar panel systems to make paying for solar more affordable.When estimating your overall cost, you should also calculate the interest you’ll pay if you go with a solar loan. Also, paying a higher down payment can reduce the total interest paid over time.
Solar Panel Installation Company
The remaining major cost factor you should keep in mind is the installer you choose. Given the booming popularity of clean energy solutions in Alexandria, you’ll have many options to choose from, but each comes at different price points for labor and equipment.Additionally, some companies in Alexandria know more about local solar incentives and can help you make good use of additional rebates or tax exemptions. Though, they may charge more for that service. Even if they cost more upfront, they could end up saving you more money in the long run.
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 | $6,706 | 18.1 years |
| 8 kW | $4.11 | $23,019 | $9,392 | 17.8 years |
| 10 kW | $4.03 | $28,210 | $12,304 | 17.4 years |
| 12 kW | $3.95 | $33,175 | $15,442 | 17.1 years |
| 14 kW | $3.87 | $37,914 | $18,806 | 16.7 years |
| 16 kW | $3.79 | $42,428 | $22,395 | 16.4 years |
| 18 kW | $3.71 | $46,716 | $26,210 | 16.0 years |
| 20 kW | $3.63 | $50,778 | $30,251 | 15.7 years |
How to Save on Solar Panels
There are a large number of companies available in Alexandria, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be challenging, so here are some tips to help you decide:
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a good reputation and is qualified to do the job well. Another way you can look into your installer’s reputation is by reading reviews.
- Contract: Although reading through a contract can be tedious, it’s important to do it carefully so you can be sure you understand what services your solar company will provide and the terms of the warranty.
- Warranty: A high-quality company rises above other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Installation Process: When going solar, it’s essential to keep an open line of communication with your solar panel company. Make sure you understand how the installation process works and the project completion timeline.
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 Alexandria, MN Solar Cost FAQs
What is the average cost of installing solar panels in Alexandria?
The average cost of solar panels in Alexandria is about $20,150 for a 5-kW system and $40,300 for a 10-kW system before the ITC, but the actual cost will depend on things such as the type of solar panels you want, what size system you need and how much energy you consume.
What other factors should I consider apart from cost when buying solar panels?
The initial cost is a key factor to consider, but whether it’s the most important for you depends on your goals for going solar. In areas where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to take into account are the quality and durability of your solar panels.
Is it worth going solar in Alexandria?
Solar panels can be a good investment for a majority of homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your electricity bills are already pretty low, solar panels might not be for you.
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 requires and how much sunlight your home gets. For a general estimate, however, since each panel can generally produce about 250 to 400 watt-hours per hour, the average home 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.