Solar Panel Cost Guide in Goodview, MN (2024 Update)
- Goodview Solar Installation Cost: $20,483
- 25-Year Savings: $22,141
- Payback Period: 14.0 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Why you can trust EcoWatch
Average Cost of Solar Panels in Goodview
We go over average solar pricing in Goodview.
In Goodview, solar panels cost about 4 per watt on average.To cover the typical energy usage of the average home in Goodview, most homeowners require a 7.3-kilowatt system. Using the per-watt figure above, a solar installation costs around $20,483, or $29,291 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 a solar energy system. The true 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.But, once you've paid the initial cost of installation, the payback for most homeowners is typically fruitful, with a net average savings of about $19,000 over 20 years on power bills.
Click the button below to get connected to a vetted solar company in Goodview for a personalized quote.
Solar savings over time in Goodview
| Year | Return on Investment |
|---|---|
| 1 years | $-19,203 |
| 3 years | $-16,644 |
| 5 years | $-14,086 |
| 7 years | $-11,527 |
| 9 years | $-8,968 |
| 11 years | $-6,409 |
| 13 years | $-3,850 |
| 15 years | $-1,291 |
| 17 years | $1,268 |
| 19 years | $3,827 |
| 21 years | $6,386 |
| 23 years | $8,945 |
| 25 years | $11,503 |
Top Solar Installers in Goodview
Many homeowners opt for a solar installation company since trying to install solar panels on your own can be a lot of work. Plus, warranties and repairs from your solar panel company can protect your investment and lower the cost of maintenance over time.
There are several licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
See all of the solar companies in Goodview
Factors that Affect Solar Panel Costs in Goodview
Cost is typically one of the most important factors for homeowners wanting to invest in solar. There are a few primary factors that determine your overall cost in Goodview: solar equipment and system size, financing options and the solar installation company you choose. We’ll go over each of these briefly below.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to some different factors. One of the main factors is the system size, which is measured in kilowatts (kW). Solar power systems that have greater efficiency or power production use better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $4,030.The brand of solar panels and equipment you want is another factor that will largely impact costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to be more pricey. Moreover, solar equipment goes beyond just the solar panels themselves. You’ll also need to consider 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 for a solar system that falls within your budget.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be difficult. Solar loans are available from most installers in Goodview, which can bring down, or in some cases completely eliminate, your upfront costs to make solar more accessible.While solar loans make adopting solar energy more accessible for Goodview homeowners, they can also add to the total you pay for your system, depending on your interest rate. If you put down a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The solar company you go with to handle your switch to renewable energy can have an effect on your total costs. There are about 3 solar panel companies operating in Goodview, and each can charge different amounts for labor and equipment.Some companies only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come at a higher cost. It’s best to do some research and choose a company that offers the products, warranties and services you want and also fit into your budget.
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 | $12,621 | 14.6 years |
| 8 kW | $4.11 | $23,019 | $17,279 | 14.3 years |
| 10 kW | $4.03 | $28,210 | $22,163 | 14.0 years |
| 12 kW | $3.95 | $33,175 | $27,273 | 13.7 years |
| 14 kW | $3.87 | $37,914 | $32,608 | 13.4 years |
| 16 kW | $3.79 | $42,428 | $38,169 | 13.2 years |
| 18 kW | $3.71 | $46,716 | $43,956 | 12.9 years |
| 20 kW | $3.63 | $50,778 | $49,968 | 12.6 years |
How to Save on Solar Panels
Since the type 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:
- Solar Panel Brands: Not all solar companies offer the same brands of solar panels, so the brand and type of panel you want can play a big role in the company you opt for.
- Warranty: Warranties that provide coverage for 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 sign of a quality company.
- Installation Process: When making the switch to solar, it’s important to maintain an open line of communication with your solar company. Make sure you understand how the installation process works and the completion timeline.
- Reputation: Make sure your solar system installer has a good reputation by confirming it has certifications and licenses, checking its work history and reading reviews by previous customers and solar experts like EcoWatch.
EcoWatch's Goodview, MN Solar Cost FAQs
What is the average cost of installing solar panels in Goodview?
The average cost of solar panels in Goodview 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 like the model of solar panels you want, what size system you need and how much energy you consume.
Are solar panels free in Goodview?
A solar panel system isn’t free in Goodview, but there are some options that can make getting them more feasible, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can help lower the cost.
How much can I save on power bills after installing solar panels?
It is possible to erase your electricity bills with solar panels, but for most homeowners throughout Goodview, that will require at least a 10-kW system. Not all homes can accommodate that size system, so you’ll want to check with a local solar installer to see how many panels can fit on your roof.
How many solar panels should I get to power my home?
The exact number of solar panels you need depends on your household energy usage and the average daily sunlight your roof gets. You can 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 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.