Solar Panel Cost Guide in Glencoe, MN (2024 Update)
- Glencoe Solar Installation Cost: $20,002
- 25-Year Savings: $19,903
- Payback Period: 14.7 Years
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Average Cost of Solar Panels in Glencoe
We go over average solar pricing in Glencoe.
In Glencoe, solar panels cost about 4 per watt on average.To account for the typical energy needs of the average home in Glencoe, most homeowners require a 7.1-kilowatt system. Using the per-watt figure above, a solar installation costs about $20,002, or $28,603 before the federal solar tax credit of 0 is applied.
The prices above are just estimates to give you an idea of the cost of solar panels. The exact cost of making the switch to solar can vary based on a few factors, such as what size system you need, your energy consumption and what solar installer you go with.Even with the large upfront cost, the average Glencoe homeowner can save around $18,000 on their power bills over 20 years, which is one of the positives of solar.
To calculate your potential savings and connect with a local solar company, click the button below.
Solar savings over time in Glencoe
| Year | Return on Investment |
|---|---|
| 1 years | $-18,722 |
| 3 years | $-16,164 |
| 5 years | $-13,605 |
| 7 years | $-11,046 |
| 9 years | $-8,487 |
| 11 years | $-5,928 |
| 13 years | $-3,369 |
| 15 years | $-810 |
| 17 years | $1,749 |
| 19 years | $4,308 |
| 21 years | $6,866 |
| 23 years | $9,425 |
| 25 years | $11,984 |
Top Solar Installers in Glencoe
Many homeowners choose to hire a solar installer since trying to install solar panels yourself can be hard. Some solar installers, especially local ones, can help you make the most of incentives in Glencoe, thereby optimizing your ROI.
There are several licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
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 Glencoe
Factors that Affect Solar Panel Costs in Glencoe
Though the average cost of a solar system in Glencoe is $20,002, your final cost may be higher or lower than that. There are several factors that can have a sizable impact on the cost of a solar panel installation. Below are some of the more important things to consider.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of going solar. That’s why it’s crucial to accurately gauge the size of the solar energy system needed for your home by figuring out your typical energy use.The kind of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you get the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. On the other hand, more efficient panels could save you more over time on your energy bills. In addition, add-on products, like solar batteries, can bring your total well above the Glencoe average.
Solar Financing Terms
Solar panels can save you money on utility bills over many years, but they can also be a significant investment. That’s why many Glencoe homeowners decide to finance their solar panel systems to offset upfront costs.However, the interest on solar loans also increases your total costs, so it’s crucial to take that into consideration as well. You can always lower the total you pay in interest and in some cases even your APR by putting more money down.
Solar Panel Installation Company
Finally, the company you choose to install your solar panels can influence your pricing. Glencoe’s solar companies all have different labor costs and add varying upcharges to equipment. You may see national solar installers that have lower prices due to their bigger brand name and access to bulk equipment prices, 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 | $11,167 | 15.3 years |
| 8 kW | $4.11 | $23,019 | $15,340 | 15.0 years |
| 10 kW | $4.03 | $28,210 | $19,740 | 14.7 years |
| 12 kW | $3.95 | $33,175 | $24,365 | 14.4 years |
| 14 kW | $3.87 | $37,914 | $29,215 | 14.1 years |
| 16 kW | $3.79 | $42,428 | $34,292 | 13.8 years |
| 18 kW | $3.71 | $46,716 | $39,594 | 13.5 years |
| 20 kW | $3.63 | $50,778 | $45,121 | 13.2 years |
How to Save on Solar Panels
There are a large number of companies to choose from in Glencoe, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be difficult, so here are some tips to help you decide:
- Solar Panel Brands: Each solar panel brand and type offers varying levels of quality, longevity and efficiency. They will come at different price points as well. The company you choose has an impact on which solar panel brands you have access to.
- Installation Process: Make sure you’re on the same page with the installer with regard to how the installation process will go and what needs to be done before your solar panels are installed, such as updating your electrical system or roof.
- Reputation: Your solar installer should have a solid reputation as a company and have demonstrated expertise in the field. Two ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has good reviews from previous customers.
- Warranty: If you’re worried about the longevity of your solar panel system, verifying that your installer offers a 25-year, all-inclusive warranty can give you some peace of mind.
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 Glencoe, MN Solar Cost FAQs
What is the average cost of installing solar panels in Glencoe?
This is a hard question to answer precisely, because the cost depends on many 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 higher quality panels, or if you have higher-than-average energy usage. 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?
Cost is definitely one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Is it worth going solar in Glencoe?
Whether or not solar panels are worth it depends on some different factors like local electricity rates and the amount of direct sunlight your roof gets.
How many solar panels do I need to power my home?
The exact number of solar panels you need depends on your household energy needs 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 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.