Solar Panel Cost Guide in Anoka, MN (2024 Update)
- Anoka Solar Installation Cost: $20,251
- 25-Year Savings: $19,448
- Payback Period: 15.0 Years
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Updated February 03, 2024
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Average Cost of Solar Panels in Anoka
Find out what the average cost of solar panels are in Anoka.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Anoka, the typical cost of solar panels is 4 per watt.Because a 7.2-kW system is needed to cover the energy usage of a typical home in Anoka, the average price of going solar will be about $20,251 after claiming the federal solar tax credit of 0.
The prices above are just estimates to give you an idea of the cost of a solar panel system. The true cost of going solar can vary quite a bit depending on multiple factors, such as what size system you need, your energy usage and what installation company you go with.Despite the high initial cost, the average Anoka homeowner can save around $18,000 on their electricity bills over 20 years, which is one of the advantages of solar.
To get a free estimate from a pre-vetted solar installation company in Anoka, you can click the button below.
Solar savings over time in Anoka
Year | Return on Investment |
---|---|
1 years | $-18,989 |
3 years | $-16,464 |
5 years | $-13,939 |
7 years | $-11,414 |
9 years | $-8,888 |
11 years | $-6,363 |
13 years | $-3,838 |
15 years | $-1,313 |
17 years | $1,212 |
19 years | $3,737 |
21 years | $6,262 |
23 years | $8,787 |
25 years | $11,312 |
Top Solar Installers in Anoka
Although you can install solar panels on your own, it requires extra labor and knowledge. Because of that, most people choose to hire a solar panel installer. Solar warranties and repairs are ordinarily included in the cost of installation when you sign a contract with a solar company as well, which can save you more money over time.
Working with a vetted solar company can help you make the most of your investment in solar. 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 Anoka
Factors that Affect Solar Panel Costs in Anoka
Cost is often one of the most important factors for homeowners who are considering investing in solar. There are a few major factors that will push your cost above or below the average in Anoka: solar equipment and system size, financing options and the solar installation company you choose. We’ll go over each of these briefly below.
Solar Equipment
The size of the solar panel system you need, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by nearly $4,030. The brand and kind of equipment you want for your solar system can increase or decrease the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these are often more expensive than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have a small roof or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to more savings over time. Also, if you want add-ons like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
If paying for a solar system out of pocket is too expensive, solar loans are an affordable option because they decrease your upfront costs and allow you to pay for your system over five to seven years on average.When estimating your overall cost, you should also calculate the interest you’ll pay if you opt for a solar loan. Also, paying more upfront can lower the total interest paid over time.
Solar Panel Installation Company
The solar company you choose will impact your total cost to go solar. Different companies will bill different amounts for the equipment and labor.The size of the company can sometimes play the most considerable role in the cost of installation. Larger national companies, like SunPro and Sunrun, often have lower pricing because of access to more resources and bulk pricing. Smaller local companies might be more costly, but they generally 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 | $4.19 | $17,603 | $10,579 | 15.6 years |
8 kW | $4.11 | $23,019 | $14,557 | 15.3 years |
10 kW | $4.03 | $28,210 | $18,761 | 15.0 years |
12 kW | $3.95 | $33,175 | $23,190 | 14.7 years |
14 kW | $3.87 | $37,914 | $27,845 | 14.4 years |
16 kW | $3.79 | $42,428 | $32,726 | 14.1 years |
18 kW | $3.71 | $46,716 | $37,832 | 13.8 years |
20 kW | $3.63 | $50,778 | $43,164 | 13.5 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you select the right company for you, here are some tips to keep in mind:
- Solar Panel Brands: Each solar panel brand and kind has varying levels of quality, durability and efficiency. They will come at different prices as well. The company you choose impacts which solar panel brands you have access to.
- Contract: Before signing a contract with a solar company, make sure to read it through completely so you understand the terms. Also, ask questions if you’re not certain about some of the terms, such as what to do if a part breaks or malfunctions and what services you can expect from them.
- Installation Process: Make sure you’re aligned with the company with regard to how the installation process will go and what needs to be done before your solar panels are installed, such as repairing your electrical system or roof.
- Warranty: Warranties that cover panel repairs and maintenance over around 25 years are the best you can get in the business, and offering such a warranty is one indication of a good company.
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 Anoka, MN Solar Cost FAQs
What is the average cost of installing solar panels in Anoka?
This is a hard question to answer exactly, because the cost depends on a few different factors. Broadly 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 other solar equipment or more efficient panels, or if you have higher-than-average energy consumption. Conversely, you can spend less if you opt for a smaller solar panel system or less efficient solar panels.
What other factors should I consider apart from cost when buying solar panels?
Cost is without a doubt one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Does Anoka have a net metering program?
Most states have net metering programs of some kind. Through these, you can either receive compensation for the extra power your system produces or or receive credits to put toward future energy bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.
What solar power system size is right for my home?
To figure out how many solar panels 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 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.