Solar Panel Cost Guide in Cambridge, MN (2024 Update)
- Cambridge Solar Installation Cost: $20,229
- 25-Year Savings: $23,718
- Payback Period: 13.3 Years
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Average Cost of Solar Panels in Cambridge
Find out how much it might cost to install solar panels in Cambridge.
While the national average of solar panels is $2.66 per watt, solar panels in Cambridge typically cost about 4.The average Cambridge homeowner needs a 7.2-kilowatt system, which would cost about $20,229 with the federal tax credit, or $28,927 before the 0 tax credit is applied.
Remember that the numbers above are only averages. The price you’ll pay for solar may look quite different based on your household energy use, the type of equipment you want, your solar contractor and more.With average savings of about $20,000 on power bills over 20 years, many homeowners in Cambridge find investing in solar can be quite rewarding.
Click the button below to get connected to a vetted solar company in your area for a customized quote.
Solar savings over time in Cambridge
| Year | Return on Investment |
|---|---|
| 1 years | $-18,958 |
| 3 years | $-16,416 |
| 5 years | $-13,874 |
| 7 years | $-11,332 |
| 9 years | $-8,790 |
| 11 years | $-6,248 |
| 13 years | $-3,706 |
| 15 years | $-1,164 |
| 17 years | $1,378 |
| 19 years | $3,920 |
| 21 years | $6,462 |
| 23 years | $9,004 |
| 25 years | $11,546 |
Top Solar Installers in Cambridge
Trying to put up solar panels on your own can be a difficult undertaking, which is why getting a solar installer is a good option for many homeowners. Plus, if you aren’t sure what type of solar panels and equipment you need, a solar installer can help you figure that out after a site survey and consultation.
If you’d like to switch to solar energy but still aren’t sure which solar installer to go with, here are our suggestions for providers nearby:
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 Cambridge
Factors that Affect Solar Panel Costs in Cambridge
The cost of installing a solar system in Cambridge can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The biggest one is the size of the system your home needs, and other factors include equipment choices, financing options and the solar installer you choose.
Solar Equipment
The size of the solar system you need to offset your energy usage, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, your total will most likely increase by nearly $4,030. The type of solar panels and equipment you choose is another factor that will significantly impact costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to cost more. Further, solar equipment consists of more than just the solar panels themselves. You’ll also need to decide on the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when researching a solar system that falls within your budget.
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 let you pay for your system over a term of, on average, between five and seven years.However, the interest on solar loans also adds to your all-in costs, so it’s crucial to include that in your estimate as well. You can always bring down the total you pay in interest and sometimes even your APR by making a larger down payment.
Solar Panel Installation Company
The solar installer you choose will influence your total cost to adopt solar power. Different companies will bill different amounts for the equipment and labor.Larger national companies usually have lower costs, but some local companies keep up with them by promoting sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or add-on services like electric vehicle 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 | $14,170 | 13.9 years |
| 8 kW | $4.11 | $23,019 | $19,345 | 13.6 years |
| 10 kW | $4.03 | $28,210 | $24,745 | 13.3 years |
| 12 kW | $3.95 | $33,175 | $30,371 | 13.1 years |
| 14 kW | $3.87 | $37,914 | $36,223 | 12.8 years |
| 16 kW | $3.79 | $42,428 | $42,300 | 12.5 years |
| 18 kW | $3.71 | $46,716 | $48,603 | 12.3 years |
| 20 kW | $3.63 | $50,778 | $55,132 | 12.0 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 pick the right company for you, here are some tips to keep in mind:
- Contract: It’s important to read through your solar installer’s contract fully to understand what services they will provide, what the warranty covers and what expectations you should have about your solar system’s energy production.
- Solar Panel Brands: Not all solar companies have the same brands of solar panels, so the brand and type of panel you want can play a substantial role in the company you go with.
- Warranty: If you care about the longevity of your solar system, checking if your company offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Installation Process: When going solar, it’s important to maintain an open line of communication with your solar company. Make sure you understand how the installation process will go 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 Cambridge, MN Solar Cost FAQs
How much does it cost to install solar panels in Cambridge?
This is a difficult question to answer precisely, 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 additional solar equipment or higher quality panels, or if you have above-average energy needs. Conversely, you can spend less if you want a smaller solar panel system or cheaper solar panels.
Is cost the most important consideration when buying solar panels?
The upfront cost is a crucial factor to consider, but whether it’s the most important for you depends on your goals for going solar. In places where rooftop space is limited, efficiency can trump the cost. Other factors that are important to consider are the quality and durability of your solar panels.
Can solar panels eliminate my energy bills?
It is possible to eliminate your electricity bills with solar panels, but for most homeowners in Cambridge, that will require at least a 10-kW system. Not all homes can accommodate that size system, so you’ll want to contact a local solar installer to see how many panels can fit on your roof.
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 are completely unusable at that time. What this means is their energy production will have decreased significantly after that point. You can opt 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.