Solar Panel Cost Guide in Grant, MN (2024 Update)
- Grant Solar Installation Cost: $20,370
- 25-Year Savings: $21,431
- Payback Period: 14.2 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 Grant
See how much it might cost to go solar in Grant.
The national average cost of solar panels is $2.66 per watt, but in Grant it’s 4 per watt.Using this figure, a typical 7.2-kW system would cost about $20,370 before the 0 federal solar tax credit is applied.
These figures are just averages, and your own solar costs may differ based on the amount of energy your home requires and what company you want to go with.With average savings of about $19,000 on electricity bills over 20 years, many homeowners in Grant find going solar has a decent ROI.
To get a free estimate from a top solar installation company in Grant, you can click the button below.
Solar savings over time in Grant
| Year | Return on Investment |
|---|---|
| 1 years | $-19,090 |
| 3 years | $-16,531 |
| 5 years | $-13,973 |
| 7 years | $-11,414 |
| 9 years | $-8,855 |
| 11 years | $-6,296 |
| 13 years | $-3,737 |
| 15 years | $-1,178 |
| 17 years | $1,381 |
| 19 years | $3,940 |
| 21 years | $6,499 |
| 23 years | $9,058 |
| 25 years | $11,616 |
Top Solar Installers in Grant
When making the switch to solar, many homeowners opt to go with a solar installation company since installing solar panels yourself can be a time-consuming project. Another perk of going with a solar company is that they can help you optimize your return of investment by reducing your future costs of repairs and replacements with the help of warranties and helping you learn about local incentives you can take advantage of.
If you’d like to switch to solar energy but still aren’t sure which solar panel company to go with, here are our suggestions for providers in Grant:
See all of the solar companies in Grant
Factors that Affect Solar Panel Costs in Grant
While the average cost of a solar system in Grant is $20,370, your actual cost may differ. There are many factors that can have a major impact on the cost of a solar system installation. Below are some of the more crucial things to take into consideration.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a variety of factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems that have better efficiency or power generation require 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.Some solar brands — like Maxeon from SunPower — are more costly upfront but also tend to offer higher efficiency. In a city like Grant, where sunlight isn’t as abundant, efficiency can quickly pay off. Also, if you have a small roof or limited space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Grant to be too costly, even if the investment pays off over time. Fortunately, almost every solar installer in the area provides financing options. Solar loans greatly decrease upfront costs for most homeowners, but they also result in a higher cost over time because of interest.However, the interest on solar loans also adds to 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 possibly even your APR by making a larger down payment.
Solar Panel Installation Company
The solar company you choose to handle your switch to renewable energy can have an effect on your total costs. There are about 3 solar panel companies in Grant, and each can charge different amounts for labor and equipment.Additionally, some companies in Grant 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 walking you through the whole process. Even if they cost more upfront, they could end up saving you 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 | $12,133 | 14.8 years |
| 8 kW | $4.11 | $23,019 | $16,628 | 14.5 years |
| 10 kW | $4.03 | $28,210 | $21,350 | 14.2 years |
| 12 kW | $3.95 | $33,175 | $26,297 | 13.9 years |
| 14 kW | $3.87 | $37,914 | $31,469 | 13.7 years |
| 16 kW | $3.79 | $42,428 | $36,867 | 13.4 years |
| 18 kW | $3.71 | $46,716 | $42,491 | 13.1 years |
| 20 kW | $3.63 | $50,778 | $48,341 | 12.8 years |
How to Save on Solar Panels
There are a large number of companies to choose from in Grant, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be challenging, so here are some tips to help you decide:
- Reputation: Make sure your solar company has a good reputation by verifying it has certifications and licenses, checking how long it's been in business and reading reviews by past customers and solar experts like EcoWatch.
- Contract: Before signing a contract with a solar installer, make sure to look it over completely so you understand the terms. Also, ask questions if you’re not sure about some of the terms, such as what to do if a component breaks or malfunctions and what services you can expect from them.
- Solar Panel Brands: Each solar panel brand and kind has varying levels of quality, longevity and energy efficiency. They will come at different costs as well. The company you choose has an impact on which solar panel brands you have access to.
- Installation Process: One of the most important things to understand when adopting solar energy is the installation process itself. Be sure to align on any details you should know with your solar company, such as what permits you should secure and what the project timeline is.
EcoWatch's Grant, MN Solar Cost FAQs
How much does it cost to install solar panels in Grant?
This is a hard question to answer exactly, because the cost depends on many factors. Broadly speaking, it costs about $20,150 for a 5-kW system and $40,300 for a 10-kW system after the ITC is applied. You can expect to pay more if you want additional solar equipment or more efficient panels, or if you have higher-than-average energy needs. Conversely, you can spend less if you opt for a smaller solar panel system or less efficient solar panels.
Should I lease or buy solar panels in Grant?
Leasing solar panels can be an attractive choice, because it usually comes with low or $0 upfront payments. The downside is that you won’t be able to save as much. If you lease, you don’t own the system, so you can’t claim any incentives and your home value won’t increase. Buying solar panels is a better option if you want to maximize your savings.
Is it worth going solar in Grant?
Whether or not solar panels are worth it depends on some different factors like the cost of electricity near you and how much direct sunlight your roof gets.
What solar power system size is right for my home?
To figure out what solar panel system size you need, you need to know how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can generally produce about 250 to 400 watt-hours per hour, the average household 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.