Solar Panel Cost Guide in Chisholm, MN (2024 Update)
- Chisholm Solar Installation Cost: $21,487
- 25-Year Savings: $23,478
- Payback Period: 13.9 Years
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Average Cost of Solar Panels in Chisholm
Find out what the average cost of solar panels are in Chisholm.
In Chisholm, solar panels cost about 4 per watt on average.The average Chisholm homeowner needs a 7.6-kilowatt system, which would cost about $21,487 with the federal tax credit, or $30,726 before the 0 tax credit is applied.
The actual price you pay can be above or below the average in Chisholm depending on a few factors, such as the model of solar panels you choose and the solar contractor you hire.Despite the significant upfront cost, the average Chisholm homeowner can save around $19,000 on their electricity bills over 20 years, which is one of the benefits of solar.
To see your potential ROI and connect with a local solar expert, click the button below.
Solar savings over time in Chisholm
| Year | Return on Investment |
|---|---|
| 1 years | $-20,095 |
| 3 years | $-17,310 |
| 5 years | $-14,525 |
| 7 years | $-11,740 |
| 9 years | $-8,956 |
| 11 years | $-6,171 |
| 13 years | $-3,386 |
| 15 years | $-601 |
| 17 years | $2,184 |
| 19 years | $4,969 |
| 21 years | $7,753 |
| 23 years | $10,538 |
| 25 years | $13,323 |
Top Solar Installers in Chisholm
Installing solar panels yourself can be a dangerous project, 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 may need, a solar installer can help you find the right equipment for you after a site survey and consultation.
If you're searching for a solar installer in Chisholm, the EcoWatch team has put together a list of our top suggestions here:
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 Chisholm
Factors that Affect Solar Panel Costs in Chisholm
Cost is usually one of the most important factors for homeowners wanting to invest in solar. There are a few key factors that affect your total cost in Chisholm: solar equipment and system size, financing options and the solar installation company you choose. We’ll cover each of these briefly below.
Solar Equipment
One of the most important factors to consider when it comes to the cost of installing solar panels 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 pay around $4,030 per kilowatt in Chisholm.The brand and kind of equipment you want for your solar system can increase or decrease the price quite significantly. If you prefer a 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 limited roof space or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to greater savings over time. Plus, if you want additional equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Solar panels can save you money on power bills over time, but they can also be a significant investment. That’s why many Chisholm homeowners opt to finance their solar panel systems to offset upfront costs.You’ll have to consider the long-term cost of financing options, including the total interest you’ll pay over the length of the loan. If you’re only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the principal cost. Making a larger down payment or securing a solar loan with a low APR could reduce your costs considerably.
Solar Panel Installation Company
The last significant cost factor you should take into consideration is the installer you choose. Given the growing popularity of renewable energy solutions in Chisholm, you’ll have plenty of options to choose from, but each comes at different price points for labor and equipment.You may notice national solar installers that have lower prices due to their bigger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or promotions to compete with those major players.
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 | $12,819 | 14.5 years |
| 8 kW | $4.11 | $23,019 | $17,544 | 14.2 years |
| 10 kW | $4.03 | $28,210 | $22,494 | 13.9 years |
| 12 kW | $3.95 | $33,175 | $27,670 | 13.6 years |
| 14 kW | $3.87 | $37,914 | $33,071 | 13.4 years |
| 16 kW | $3.79 | $42,428 | $38,698 | 13.1 years |
| 18 kW | $3.71 | $46,716 | $44,551 | 12.8 years |
| 20 kW | $3.63 | $50,778 | $50,629 | 12.5 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 brands and price points. To help you decide on the right company for you, here are some tips to keep in mind:
- Reputation: Well-established companies likely have a high reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide adequate aftercare and customer support, such as part repairs and replacements.
- Contract: When looking through your solar installer’s contract, ask questions about any terms you’re not sure of and make sure you understand what happens in scenarios like a system part breaking or the company going out of business.
- Warranty: Warranties that cover replacement parts and repairs over a couple decades are the best you can get in the business, and offering that kind of warranty is one indication of a good company.
- Installation Process: Homeowners should make sure they understand how exactly the installation process will be carried out, as well as important factors like the 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 Chisholm, MN Solar Cost FAQs
What is the average cost of installing solar panels in Chisholm?
The average cost of solar panels in Chisholm 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 certain factors such as the type of solar panels you want, what size system you need and how much energy you consume.
Can you get solar panels for free in Chisholm?
You can’t get solar panels for free in Chisholm. However, you may still be able to get them on a lower budget. You can lease solar panels for a low upfront cost or, if you’d prefer to own your solar panels, you can finance them with a solar loan.
Do solar panels increase your property value?
Installing solar panels on your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Chisholm is currently $101,211, which means you could be looking at a value of about $4,150 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Chisholm is a fruitful investment.
What solar power system size is right for my home?
To figure out how many solar panels you need, you should find out how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can typically 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.