Solar Panel Cost Guide in Ham Lake, MN (2024 Update)
- Ham Lake Solar Installation Cost: $20,251
- 25-Year Savings: $20,079
- Payback Period: 14.7 Years
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Average Cost of Solar Panels in Ham Lake
We go over average solar pricing in Ham Lake.
In Ham Lake, solar panels cost about 4 per watt on average.The average solar panel system size in Ham Lake is around 7.2 kilowatts, meaning a cost of about $20,251 for a solar installation, or $28,959 before the 0 federal solar tax credit is applied.
These figures are just estimates, and the cost of going solar for you will look different based on your specific situation and what company you choose to go with.Even with the large upfront cost, the average Ham Lake homeowner can save around $18,000 on their power bills over 20 years, which is one of the advantages of solar.
To see your potential savings and connect with a local solar installer, click the button below.
Solar savings over time in Ham Lake
| Year | Return on Investment |
|---|---|
| 1 years | $-18,989 |
| 3 years | $-16,464 |
| 5 years | $-13,939 |
| 7 years | $-11,414 |
| 9 years | $-8,888 |
| 11 years | $-6,363 |
| 13 years | $-3,838 |
| 15 years | $-1,313 |
| 17 years | $1,212 |
| 19 years | $3,737 |
| 21 years | $6,262 |
| 23 years | $8,787 |
| 25 years | $11,312 |
Top Solar Installers in Ham Lake
Many homeowners opt for a solar installer since figuring out how to install solar panels by yourself can be time-consuming. Also, companies with a good reputation that cost more upfront could actually save you money in the long run due to their warranties, repair services and expert design.
You can get a free estimate from a local solar installer on how much solar panels could cost for your home. Here are some 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 Ham Lake
Factors that Affect Solar Panel Costs in Ham Lake
The cost of installing a solar system in Ham Lake can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The largest one is your system size, and other factors include equipment choices, financing options and the solar company you choose.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of going solar. For that reason, it’s crucial to accurately gauge the size of the solar energy system needed for your home by figuring out your energy needs.The brand and kind of equipment you get for your solar system can raise or lower the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these are often more expensive than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have limited roof space or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to more savings over time. Also, if you want additional equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
If paying for solar panels in cash is difficult, solar loans are an affordable route because they cut back your upfront costs and let you pay for your system over five to seven years on average.While solar loans make going solar more accessible for Ham Lake homeowners, they can also increase the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you put down a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The last significant cost factor you should take into consideration is the installer you choose. Given the growing popularity of sustainable energy solutions in Ham Lake, you’ll have lots of options to choose from, but each comes at varying price points 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 with an above-average cost. It’s best to do some research and decide on the company that offers the products, warranties and services you want and also fits within 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 | $11,107 | 15.3 years |
| 8 kW | $4.11 | $23,019 | $15,261 | 15.0 years |
| 10 kW | $4.03 | $28,210 | $19,640 | 14.7 years |
| 12 kW | $3.95 | $33,175 | $24,245 | 14.4 years |
| 14 kW | $3.87 | $37,914 | $29,076 | 14.1 years |
| 16 kW | $3.79 | $42,428 | $34,132 | 13.9 years |
| 18 kW | $3.71 | $46,716 | $39,414 | 13.6 years |
| 20 kW | $3.63 | $50,778 | $44,922 | 13.3 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Since choosing a company can be difficult, we have some tips to help you, such as:
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their roof configurations and how much efficiency they need. Even though there are many options for which brand of solar panel you can get, not every company will have access to the exact one you may want or need, so be sure to ask for their list of options before deciding.
- Contract: Look through the contract terms thoroughly to make sure you understand how much it will cost, project completion timeline incentives and warranties.
- Installation Process: Get detailed information from your solar installer about the installation process and what to expect, including when the site survey will be done and what the project timeline is.
- Reputation: Your solar installer should have a sound reputation as a company and have proven expertise in the field. Two ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has satisfied reviews from past customers.
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 Ham Lake, MN Solar Cost FAQs
What is the average cost of installing solar panels in Ham Lake?
This is a difficult question to answer precisely, because the cost depends on a variety of 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. It will be more expensive if you want other solar equipment or more efficient panels, or if you have above-average energy needs. On the other hand, you can spend less if you want a smaller solar panel system or less efficient solar panels.
What other factors should I consider apart from cost when buying solar panels?
Cost is definitely one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
How much can I save on energy bills after switching to solar?
It is possible to eradicate your electricity bills with solar panels, but for most homeowners in Ham Lake, 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 contact a local solar installer to see how many panels can fit on your roof.
How many solar panels do I need to power 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 typically produce about 250 to 400 watt-hours per hour, the average house 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.