Solar Panel Cost Guide in Fergus Falls, MN (2024 Update)
- Fergus Falls Solar Installation Cost: $20,137
- 25-Year Savings: $14,766
- Payback Period: 17.4 Years
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Average Cost of Solar Panels in Fergus Falls
See how much it might cost to switch to solar power in Fergus Falls.
The average cost of solar panels in Fergus Falls is 4 per watt.Because a 7.1-kW system is needed to cover the energy consumption of a typical home in Fergus Falls, the average price of going solar will be about $20,137 after claiming the federal solar tax credit of 0.
Remember that the numbers above are only averages. The price you’ll end up paying for solar will differ based on your household energy consumption, the type of solar panels you want to get, your solar contractor and more.Many homeowners find going solar is a sound investment. The average homeowner in Fergus Falls can save about $15,000 on their electricity bills over 20 years.
To calculate your potential ROI and connect with a local solar installer, click the button below.
Solar savings over time in Fergus Falls
| Year | Return on Investment |
|---|---|
| 1 years | $-19,085 |
| 3 years | $-16,981 |
| 5 years | $-14,878 |
| 7 years | $-12,774 |
| 9 years | $-10,670 |
| 11 years | $-8,567 |
| 13 years | $-6,463 |
| 15 years | $-4,360 |
| 17 years | $-2,256 |
| 19 years | $-152 |
| 21 years | $1,951 |
| 23 years | $4,055 |
| 25 years | $6,159 |
Top Solar Installers in Fergus Falls
Although you can install solar panels on your own, it requires extra time and know-how. That's one of the reasons the majority of homeowners choose a solar panel installer. Plus, warranties and repairs from your solar panel installer can protect your investment and reduce the cost of maintenance over the lifespan of your panels.
There are several licensed solar professionals that can install solar panels for you. 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 Fergus Falls
Factors that Affect Solar Panel Costs in Fergus Falls
The cost of installing a solar system in Fergus Falls 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 the equipment you choose, financing options and the solar company you choose.
Solar Equipment
One of the most significant 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 energy your household consumes, the larger your system will likely need to be. You can expect to spend around $4,030 per kilowatt in Fergus Falls.The brand of solar panels and equipment you get is another factor that will substantially affect costs. Solar panels that are more efficient, like monocrystalline panels, tend to come at a higher price. Furthermore, solar equipment goes beyond 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 looking into a solar system that’s in your budget.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be a challenge. Solar loans are provided by most installers in Fergus Falls, which can bring down, or in some cases completely eliminate, your upfront costs to make solar more affordable.It’s wise to factor the interest you’ll pay in your final cost estimate. If you can afford to pay a larger down payment, you can reduce your total costs and the amount of time it’ll take to pay off the loan.
Solar Panel Installation Company
Finally, the company you hire to install your solar system can impact the cost. Fergus Falls’s solar companies all have different labor costs and add varying upcharges to equipment. Larger national companies typically have lower costs, but some local companies undercut them by offering sales and discounts. While the smaller companies might not have access to 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 | $6,737 | 18.1 years |
| 8 kW | $4.11 | $23,019 | $9,434 | 17.7 years |
| 10 kW | $4.03 | $28,210 | $12,356 | 17.4 years |
| 12 kW | $3.95 | $33,175 | $15,505 | 17.0 years |
| 14 kW | $3.87 | $37,914 | $18,879 | 16.7 years |
| 16 kW | $3.79 | $42,428 | $22,478 | 16.3 years |
| 18 kW | $3.71 | $46,716 | $26,304 | 16.0 years |
| 20 kW | $3.63 | $50,778 | $30,355 | 15.6 years |
How to Save on Solar Panels
Since the brand of solar panels and the installer you choose considerably impacts your costs and your system’s durability and efficiency, it’s important to pick the right ones for you. Here are some things to keep in mind to help with your decision:
- Contract: Before you sign a contract with a solar company, make sure you read it through fully 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 if there are any guarantees about energy production.
- Installation Process: Make sure you’re aligned with the company regarding 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.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for clean energy professionals. If your solar panel installer is NABCEP-certified, it likely has a good reputation and is qualified to get the job done well. Another way you can check your installer’s reputation is by reading reviews.
- Warranty: A high-quality company rises above other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
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 Fergus Falls, MN Solar Cost FAQs
How much does it cost to install solar panels in Fergus Falls?
The average cost of solar panels in Fergus Falls is about $20,150 for a 5-kW system and $40,300 for a 10-kW system before the ITC, but the real cost will depend on things such as the kind of solar panels you want, what size system you need and how much energy you consume.
Is it better to lease or buy solar panels in Fergus Falls?
Leasing solar panels can be an option if you can’t afford to pay upfront or secure a solar loan, but since you don’t own the system, you can’t take advantage of many solar incentives. Also your property 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 much can I save on energy bills after installing solar panels?
It is possible to eliminate your electricity bills with solar panels, but for most homeowners in Fergus Falls, that will require at least a 10-kW system. Not all homes will have the roof space for that size system, so you’ll want to check with a local solar installer to see how many panels can fit on your roof.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy needs and the average daily 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 buy between 20 and 35 panels to account for 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.