Solar Panel Cost Guide in Annandale, MN (2024 Update)
- Annandale Solar Installation Cost: $20,102
- 25-Year Savings: $17,874
- Payback Period: 15.7 Years
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Average Cost of Solar Panels in Annandale
We go over average solar pricing in Annandale.
The national average cost of solar panels is $2.66 per watt, but in Annandale it’s 4 per watt.Using this figure, a typical 7.1-kW system would cost about $20,102 before the 0 federal solar tax credit is applied.
Remember that the numbers above are only averages. The price you’ll end up paying for solar may look quite different based on your household energy consumption, the type of solar system you want, your solar contractor and more.But, once you've paid the upfront cost of installation, the payback for most homeowners is typically rewarding, with a net average savings of about $17,000 over 20 years on power bills.
Click the button below to get connected to a top solar installer in Annandale for a custom estimate.
Solar savings over time in Annandale
| Year | Return on Investment |
|---|---|
| 1 years | $-18,822 |
| 3 years | $-16,263 |
| 5 years | $-13,704 |
| 7 years | $-11,146 |
| 9 years | $-8,587 |
| 11 years | $-6,028 |
| 13 years | $-3,469 |
| 15 years | $-910 |
| 17 years | $1,649 |
| 19 years | $4,208 |
| 21 years | $6,767 |
| 23 years | $9,326 |
| 25 years | $11,884 |
Top Solar Installers in Annandale
Do-it-yourself solar panel installation is a way to cut costs, but it's an undertaking that can be a headache. Going with a solar panel installer can make your swap to solar power much easier. Solar companies provide key benefits that can help you get the most out of your investment, like warranties, monitoring and free repairs.
There are various licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
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 Annandale
Factors that Affect Solar Panel Costs in Annandale
The cost of installing a solar system in Annandale can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The most significant one is the size of the system your household needs, and other factors include the equipment you choose, financing options and the solar company you choose.
Solar Equipment
One of the most important factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household uses, the larger your system will likely need to be. You can expect to pay around $4,030 per kilowatt in Annandale.The model of solar panels and equipment you get is another factor that will considerably affect costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to come at a higher price. Moreover, solar equipment goes beyond just the solar panels themselves. You’ll also need to consider the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when looking into a solar system that’s in your budget.
Solar Financing Terms
If paying for a solar system out of pocket is out of reach, solar loans are a popular route because they cut back your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years.When trying to figure out 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 reduce the total interest paid over time.
Solar Panel Installation Company
A final consideration when trying to figure out the cost of solar for your home or business in Annandale is the company you get to install your solar panel system. As with choosing a company to renovate your kitchen, for example, there’s no shortage of solar installers that offer a range of services for different budgets.Larger national companies usually have lower costs, but some local companies compete with them by offering sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or additional services like electric car charger installation, they might be cheaper overall.
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 | $9,375 | 16.3 years |
| 8 kW | $4.11 | $23,019 | $12,951 | 16.0 years |
| 10 kW | $4.03 | $28,210 | $16,753 | 15.7 years |
| 12 kW | $3.95 | $33,175 | $20,780 | 15.4 years |
| 14 kW | $3.87 | $37,914 | $25,034 | 15.1 years |
| 16 kW | $3.79 | $42,428 | $29,513 | 14.7 years |
| 18 kW | $3.71 | $46,716 | $34,217 | 14.4 years |
| 20 kW | $3.63 | $50,778 | $39,148 | 14.1 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you decide on the right company for you, here are some tips to keep in mind:
- Solar Panel Brands: Homeowners will have different preferences for panels based on their roof configurations and energy needs. Even though there are many options for which type of solar panel you can get, not every company will have the exact one you may want or need, so make sure you peruse their list of offerings before deciding.
- Installation Process: Get details from your solar company about the installation process and what to expect, including when the site survey will be completed and what the project timeline is.
- Warranty: Warranties that cover defective panels and repairs over a long period of time such as 25 years are the best you can get in the business, and offering that kind of warranty is one indication of a quality company.
- Contract: Before you sign a contract with a solar company, make sure you read it through carefully so you understand the terms. Also, ask questions if you’re not certain about some of the terms, such as what the warranty covers and what services you can expect from them.
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 Annandale, MN Solar Cost FAQs
How much does it cost to install solar panels in Annandale?
This is a tough question to answer exactly, because the cost depends on a variety of factors. Generally speaking, it costs about $20,150 for a 5-kW system and $40,300 for a 10-kW system after the ITC is applied. It will cost more if you want additional solar equipment or more efficient panels, or if you have above-average energy consumption. Conversely, you can spend less if you opt for a smaller solar panel system or less expensive solar panels.
Should I lease or buy solar panels in Annandale?
Leasing solar panels can be an appealing choice, as it usually 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 option if you want to maximize your savings.
Can you sell solar power back to the grid in Annandale?
Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just offer you credit toward your future electricity bills.
How often do you have to replace solar panels?
Though 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 the amount of energy they produce will have decreased significantly after that point. You can choose to replace them after having them for that long or you can continue to use 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.