Solar Panel Cost Guide in Hermantown, MN (2024 Update)
- Hermantown Solar Installation Cost: $21,487
- 25-Year Savings: $16,763
- Payback Period: 16.8 Years
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Average Cost of Solar Panels in Hermantown
Find out what the average cost of solar panel installation is in Hermantown.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Hermantown, the typical cost of a solar system is 4 per watt.Since a 7.6-kW system is needed to cover the energy usage of a typical home in Hermantown, the average price of going solar will be about $21,487 after claiming the federal solar tax credit of 0.
Remember that the numbers above are only averages. The price you’ll end up paying for solar may look quite different based on your household energy needs, the type of solar system you want to get, your solar contractor and more.For many homeowners, the upfront cost of solar power is worth paying. On average homeowners in Hermantown see about $16,000 in savings on electricity bills over 20 years.
To get a free estimate from a top solar installation company in Hermantown, you can click the button below.
Solar savings over time in Hermantown
| Year | Return on Investment |
|---|---|
| 1 years | $-20,446 |
| 3 years | $-18,363 |
| 5 years | $-16,280 |
| 7 years | $-14,197 |
| 9 years | $-12,114 |
| 11 years | $-10,031 |
| 13 years | $-7,949 |
| 15 years | $-5,866 |
| 17 years | $-3,783 |
| 19 years | $-1,700 |
| 21 years | $383 |
| 23 years | $2,466 |
| 25 years | $4,549 |
Top Solar Installers in Hermantown
When going solar, many homeowners opt to use a solar company since overseeing your solar installation yourself can be a time-consuming project. Another good thing about choosing a top solar installer is that it'll provide warranties and free repairs, which help protect your solar investment.
If you're on the hunt for a solar installer in Hermantown, we've put together a list of our top suggestions here:
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 Hermantown
Factors that Affect Solar Panel Costs in Hermantown
There are several criteria that can affect your solar system installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that performs the installation.
Solar Equipment
When it comes to estimating the price of a solar panel system in Hermantown, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are primarily based on your home’s energy usage, which you can figure out by looking at past electricity bills. Your total cost can increase by about $4,030 for each additional kilowatt you need.There are many different solar panel brands and the one you choose also affects the cost. Generally speaking, the brands that have better efficiency tend to also be more expensive. Additionally, the type of equipment you want to install can affect your total cost. If you only need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
If paying for solar panels in cash is too expensive, solar loans are a popular route because they decrease your upfront costs and let you pay for your system over a term of, on average, between five and seven years.While solar loans make going solar more accessible for Hermantown homeowners, they can also increase the total you pay for your system, depending on your interest rate. If you make a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
A final consideration when trying to evaluate the cost of solar for your home or business in Hermantown is the company you hire to install your PV system. Similar to choosing a company to build a deck or pool, for instance, there are plenty of solar installers that provide a range of services at different costs.Companies that 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 cost more. It’s best to do some research and choose a company that provides the products, warranties and services you’re looking for and also is 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 | $7,530 | 17.5 years |
| 8 kW | $4.11 | $23,019 | $10,491 | 17.2 years |
| 10 kW | $4.03 | $28,210 | $13,678 | 16.8 years |
| 12 kW | $3.95 | $33,175 | $17,091 | 16.5 years |
| 14 kW | $3.87 | $37,914 | $20,729 | 16.2 years |
| 16 kW | $3.79 | $42,428 | $24,593 | 15.8 years |
| 18 kW | $3.71 | $46,716 | $28,683 | 15.5 years |
| 20 kW | $3.63 | $50,778 | $32,998 | 15.2 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 pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- Warranty: A quality company rises above other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Installation Process: When going solar, it’s important to maintain an open line of communication with your solar panel company. See to it that you understand how the installation process works and the project timeline.
- Contract: Review the contract terms closely to make sure you understand the cost breakdown, project completion timeline rebates and warranties.
- Solar Panel Brands: Each solar panel brand and model offers varying levels of quality, longevity and efficiency. They will come at different prices as well. The company you choose has an impact on which solar panel brands you have access to.
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 Hermantown, MN Solar Cost FAQs
What is the average cost of installing solar panels in Hermantown?
The average cost of solar panels in Hermantown is about $20,150 for a 5-kW system and $40,300 for a 10-kW system before the ITC, but the actual cost will depend on things like the kind of solar panels you want, what size system you need and how much energy you consume.
Should I lease or buy solar panels in Hermantown?
Leasing solar panels can be an appealing choice, as it usually comes with low or $0 upfront payments. The drawback 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 switching to solar power worth it?
Solar panels can be a beneficial investment for lots 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 pretty low, solar panels might not be for you.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy needs 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 get 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.