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.Because a 7.1-kW system is needed to cover the energy needs of a typical home in Glencoe, the average price of going solar will be about $20,002 after claiming the federal solar tax credit of 0.
The true cost of your system can be higher or lower than the average in Glencoe based on a few factors, such as the brand of solar panels you choose and the solar installer you hire.For many homeowners, the upfront investment in solar panels is worth paying. On average you could be looking at about $18,000 in savings on energy bills over 20 years.
For a personalized quote from a local solar company that has been pre-vetted by the EcoWatch team, 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
Putting up solar panels yourself can be a challenging project, which is why getting a solar installer is a good option for many homeowners. Plus, if you’d like to maximize your investment in solar, going with a solar installer can help with that too. Different providers can offer warranties, expertise on installation and sometimes even information on local incentives, rebates and net metering programs.
If you’d like to switch to solar energy but still aren’t certain which solar system company 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 Glencoe
Factors that Affect Solar Panel Costs in Glencoe
The cost of installing a solar system in Glencoe 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 household needs, and other factors include the equipment you choose, financing options and the solar installer you choose.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a few different factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems with higher efficiency or power generation need better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $4,030.The kind of solar panels and equipment you get is another factor that will significantly influence costs. Solar panels that are more efficient, like monocrystalline panels, tend to be more expensive. Moreover, solar equipment is more than just the solar panels themselves. You’ll also need to think about 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 falls within your budget.
Solar Financing Terms
If paying for solar panels in cash is difficult, solar loans are a solid route because they lower your upfront costs and let you pay for your system over five to seven years on average.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 finding a solar loan with a low APR could reduce your costs remarkably.
Solar Panel Installation Company
A final consideration when trying to estimate the cost of solar for your home or business in Glencoe is the company you choose to install your solar system. As with choosing a company to install new cabinets, for instance, there are plenty of solar installers that provide a range of services at different costs.Additionally, some companies in Glencoe have more knowledge about local solar incentives and can help you learn about additional rebates or tax exemptions. Though, they may charge more for walking you through the whole process. 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 | $11,167 | 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
Since the kind of solar panels and the installer you choose has an impact on your costs and your system’s durability and efficiency, it’s important to select the right ones for you. Here are some things to keep in mind to help with your decision:
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their roof configurations and energy needs. Even though there are many options for which brand of solar panel you can get, not every company will have the exact one you may want or need, so make sure you peruse their list of offerings before making your decision.
- Installation Process: When going solar, it’s necessary to maintain an open line of communication with your solar panel installer. See to it that you understand how the installation process will go and the project completion timeline.
- Reputation: Make sure your solar company has a good reputation by verifying it has certifications and licenses, checking its number of years in business and reading reviews by previous customers and solar experts like the EcoWatch team.
- Warranty: A quality company rises above other companies by offering 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 Glencoe, MN Solar Cost FAQs
How much does it cost to install solar panels in Glencoe?
The average cost of solar panels in Glencoe 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 cost the most important thing to consider when buying solar panels?
Cost is a very important 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 be more important than the cost. Other factors that are important to think about are the quality and durability of your solar panels.
Is it worth going solar in Glencoe?
Solar panels can be a good investment for a majority of homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your energy bills are already fairly low, solar panels might not be for you.
What solar power system size is right for my home?
To figure out how many solar panels you need, you need to know 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.