Solar Panel Cost Guide in Coon Rapids, MN (2024 Update)
- Coon Rapids Solar Installation Cost: $20,251
- 25-Year Savings: $20,048
- Payback Period: 14.8 Years
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Updated February 03, 2024
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Average Cost of Solar Panels in Coon Rapids
Find out how much it might cost to make the switch to solar in Coon Rapids.
The average cost of a solar system in Coon Rapids is 4 per watt.Using this figure, a typical 7.2-kW system would cost about $20,251 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 vary based on your household energy consumption, the type of equipment you want, your solar contractor and more.But, once you've paid the initial cost of installation, the ROI for most homeowners is quite rewarding, with a net average savings of about $18,000 over 20 years on utility bills.
You can click the button below to get connected with a top solar installer in Coon Rapids that can help you get a more accurate cost estimate for your home.
Solar savings over time in Coon Rapids
Year | Return on Investment |
---|---|
1 years | $-18,977 |
3 years | $-16,430 |
5 years | $-13,882 |
7 years | $-11,335 |
9 years | $-8,787 |
11 years | $-6,239 |
13 years | $-3,692 |
15 years | $-1,144 |
17 years | $1,404 |
19 years | $3,951 |
21 years | $6,499 |
23 years | $9,046 |
25 years | $11,594 |
Top Solar Installers in Coon Rapids
Although it's possible to install solar panels by yourself, it requires extra effort and know-how. That's one of the reasons the majority of homeowners choose to go with a solar panel installer. Solar installers offer key benefits that can help you get the most out of your investment, like warranties, monitoring and free repairs.
If you’d like to switch to solar energy but still aren’t certain which solar installer to go with, here are our recommendations for providers near you:
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 Coon Rapids
Factors that Affect Solar Panel Costs in Coon Rapids
For many Coon Rapids homeowners, the decision to go solar depends on cost. However, the range of solar installation costs can be quite wide in Coon Rapids, with typical prices between $20,000 to $40,000. There are various factors that greatly influence the price you’ll pay, which we'll go over below.
Solar Equipment
The size of the solar energy system you need for your home, 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 around $4,030. The brand and kind of equipment you get 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 more savings over time. Also, if you want add-ons like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be financially overwhelming. Solar loans are provided by most installers in Coon Rapids, which can lower, or in some cases completely eliminate, your upfront costs to make solar more accessible.However, the interest on solar loans also increases your total costs, so it’s vital to consider that as well. You can always lower the total you pay in interest and in some cases even your APR by making a larger down payment.
Solar Panel Installation Company
A final consideration when trying to estimate the cost of solar for your home or business in Coon Rapids is the company you choose to install your PV system. As with choosing a company to build a deck or pool, for example, you’ll have many options for solar installers that offer a range of services for different budgets.Additionally, some companies in Coon Rapids know more about local solar incentives and can help you make good use of additional rebates or tax exemptions. However, they may charge more for that service. Even if they cost more upfront, they could help you save 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 | $11,081 | 15.3 years |
8 kW | $4.11 | $23,019 | $15,225 | 15.0 years |
10 kW | $4.03 | $28,210 | $19,596 | 14.8 years |
12 kW | $3.95 | $33,175 | $24,192 | 14.5 years |
14 kW | $3.87 | $37,914 | $29,014 | 14.2 years |
16 kW | $3.79 | $42,428 | $34,062 | 13.9 years |
18 kW | $3.71 | $46,716 | $39,335 | 13.6 years |
20 kW | $3.63 | $50,778 | $44,834 | 13.3 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 find the right company for you, here are some tips to keep in mind:
- Contract: When reading through your solar company’s contract, ask questions about any terms you’re not sure of and be sure you understand what happens in scenarios like a system component breaking or the company going out of business.
- Solar Panel Brands: Different companies offer different brands and kinds of panels. If you prefer a specific brand, make sure the solar panel company you’re considering has it.
- 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 how long it will take.
- Reputation: Make sure your solar system installer has a good reputation by verifying it has certifications and licenses, checking its work history and reading reviews by past customers and solar experts like the EcoWatch team.
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 Coon Rapids, MN Solar Cost FAQs
How much does it cost to install solar panels in Coon Rapids?
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 be more expensive if you want extra solar equipment or more efficient panels, or if you have higher-than-average energy needs. Conversely, you can spend less if you go with a smaller solar panel system or less efficient solar panels.
Is it better to lease or buy solar panels in Coon Rapids?
Leasing solar panels can be an option if you can’t pay upfront or secure a solar loan, but since you don’t own the system, you don’t have access to many solar incentives. Also your home value won’t increase, so you’ll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most financial benefits from going solar.
How will solar panels impact my property value?
Solar panels can increase the value of your home considerably as long as you buy or finance your panels and don’t choose a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% with a solar installation."
How many solar panels do I need to power my home?
The exact number of solar panels you need depends on your household energy consumption and how much sunlight your roof gets. You can take a look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to install between 20 and 35 panels to cover their typical energy usage.
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.