Solar Panel Cost Guide in Hutchinson, MN (2024 Update)
- Hutchinson Solar Installation Cost: $20,002
- 25-Year Savings: $18,054
- Payback Period: 15.6 Years
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Average Cost of Solar Panels in Hutchinson
Find out what the average cost of a solar system is in Hutchinson.
While the national average of solar panels is $2.66 per watt, solar panels in Hutchinson generally cost around 4.Since a 7.1-kW system is needed to cover the energy needs of a typical home in Hutchinson, the average price of going solar will be about $20,002 after claiming the federal solar tax credit of 0.
Keep in mind that the numbers above are only averages. The price you’ll pay for solar will differ based on your household energy consumption, the type of equipment you want to get, your solar contractor and more.With typical savings of about $17,000 on electricity bills over 20 years, many homeowners in Hutchinson find going solar can pay off big.
To see your potential ROI and connect with a local solar company, click the button below.
Solar savings over time in Hutchinson
| 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 Hutchinson
Many homeowners decide to hire a solar panel installer since trying to put up solar panels by yourself can be time-consuming. Because solar panels are exposed to temperature swings and extreme weather, warranties and repairs from your solar installer can help you get the most out of your investment in solar panels by reducing potential costs down the line.
If you’d like to go solar but still aren’t sure which solar installer to go with, here are our recommendations for providers in Hutchinson:
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 Hutchinson
Factors that Affect Solar Panel Costs in Hutchinson
There are several factors that can affect your total 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
The cost of solar panels varies by thousands of dollars due to a variety of factors. One of the key factors is the system size, which is measured in kilowatts (kW). Solar power systems that have higher efficiency or power production use 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 brand of solar panels and equipment you want is another factor that will greatly impact costs. Solar panels that are more efficient, like monocrystalline panels, tend to cost more. 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 out of pocket can be a challenge. Solar loans are offered by most installers in Hutchinson, which can lower, or in some cases eliminate, your upfront costs to make solar more accessible.However, the interest on solar loans also increases your total costs, so it’s vital to keep that in mind 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
A final factor to consider when trying to evaluate the cost of solar for your home or business in Hutchinson is the company you get to install your PV system. Similar to choosing a company to install new cabinets, for example, there are plenty of solar installers that provide a range of services at different price points.Larger national companies generally have lower costs, but some local companies keep up with them by promoting sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or additional services like electric vehicle charger installation, they might be cheaper overall.
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 | $9,603 | 16.2 years |
| 8 kW | $4.11 | $23,019 | $13,255 | 15.9 years |
| 10 kW | $4.03 | $28,210 | $17,133 | 15.6 years |
| 12 kW | $3.95 | $33,175 | $21,237 | 15.2 years |
| 14 kW | $3.87 | $37,914 | $25,566 | 14.9 years |
| 16 kW | $3.79 | $42,428 | $30,121 | 14.6 years |
| 18 kW | $3.71 | $46,716 | $34,902 | 14.3 years |
| 20 kW | $3.63 | $50,778 | $39,908 | 14.0 years |
How to Save on Solar Panels
There are numerous companies to choose from in Hutchinson, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be difficult, so here are some tips to help you decide:
- Installation Process: One of the most important things to understand when adopting solar power is the installation process itself. Be sure to align on any details you need to know with your solar installer, such as what permits you should secure and how long the project will take.
- Warranty: If you care about the longevity of your solar energy system, making sure your installer offers a 25-year, all-inclusive warranty can help put you at ease.
- Reputation: Your solar installer should have a good reputation as a company and have demonstrated expertise in the field. A couple of 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.
- Contract: Review the contract terms carefully to make sure you understand the cost breakdown, project completion timeline incentives and warranties.
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 Hutchinson, MN Solar Cost FAQs
How much does it cost to install solar panels in Hutchinson?
This is a tough question to answer precisely, because the cost depends on a few different factors. Generally 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 cost more if you want other solar equipment or higher quality panels, or if you have above-average energy needs. Conversely, you can spend less if you go with a smaller solar panel system or less expensive solar panels.
Is it better to lease or buy solar panels in Hutchinson?
Leasing solar panels can be an option if you can’t afford to pay upfront or secure a solar loan, but since you don’t own the system, you can’t take advantage of many solar incentives. Also your property value won’t increase, so you’ll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most savings from going solar.
How much can I save on energy bills after switching to solar?
Solar panels can potentially eliminate your electricity bills depending on where you’re located and the efficiency of your system. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $906.86 per year.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy consumption 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.