Solar Panel Cost Guide in Lino Lakes, MN (2024 Update)
- Lino Lakes Solar Installation Cost: $20,251
- 25-Year Savings: $22,061
- Payback Period: 13.9 Years
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Average Cost of Solar Panels in Lino Lakes
Let’s take a look at the average cost of solar in Lino Lakes.
In Lino Lakes, solar panels cost about 4 per watt on average.Since a 7.2-kW system is needed to cover the energy needs of a typical home in Lino Lakes, the average price of going solar will be about $20,251 after claiming the federal solar tax credit of 0.
Bear in mind that the figures above are only estimates based on the average energy use of Lino Lakes homeowners. The price of a solar system for your home may look different depending on factors unique to your situation, like your household energy use and solar contractor.With average savings of about $19,000 on electricity bills over 20 years, many homeowners in Lino Lakes find installing solar panels has a decent ROI.
Click the button below to get connected to a highly rated solar installer in your area for a customized quote.
Solar savings over time in Lino Lakes
| Year | Return on Investment |
|---|---|
| 1 years | $-18,972 |
| 3 years | $-16,413 |
| 5 years | $-13,854 |
| 7 years | $-11,295 |
| 9 years | $-8,736 |
| 11 years | $-6,177 |
| 13 years | $-3,618 |
| 15 years | $-1,060 |
| 17 years | $1,499 |
| 19 years | $4,058 |
| 21 years | $6,617 |
| 23 years | $9,176 |
| 25 years | $11,735 |
Top Solar Installers in Lino Lakes
Although it's possible to install solar panels by yourself, it involves extra energy and knowledge. Because of that, almost all homeowners choose to hire a solar panel installer. Plus, if you’re unsure what brand of solar panels and equipment you need, a solar expert can help you find the right equipment for you after a site survey and consultation.
If you're looking for a solar installer in Lino Lakes, we've organized 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 Lino Lakes
Factors that Affect Solar Panel Costs in Lino Lakes
For many Lino Lakes homeowners, the decision to install solar panels depends on cost. However, the range of solar installation costs can be quite wide in Lino Lakes, with typical prices between $20,000 to $40,000. There are a few factors that considerably influence the price you’ll pay, which we'll go over below.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of installing solar panels. Because of that, it’s a priority to accurately gauge the size of the solar energy system needed for your home by figuring out your energy needs.The brand of solar panels and equipment you choose is another factor that will significantly affect costs. Solar panels that are more efficient, like monocrystalline panels, tend to be more costly. Moreover, solar equipment goes beyond just the solar panels themselves. You’ll also need to make decisions about 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 into a solar system that’s in your budget.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be a challenge. Solar loans are available from most installers in Lino Lakes, which can lower, or in some cases eliminate, your upfront costs to make solar more affordable.It’s wise to include the interest you’ll pay in your final cost estimate. If you can afford to pay a higher down payment, you can reduce your total costs and the amount of time it’ll take to pay off the loan.
Solar Panel Installation Company
The solar company you opt for to handle your switch to renewable energy can have an effect on your total costs. There are about 3 solar installation companies in Lino Lakes, and each can charge different amounts for labor and equipment.Additionally, some companies in Lino Lakes have more knowledge about local solar incentives and can help you take advantage of additional rebates or tax exemptions. Though, 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 | $12,763 | 14.5 years |
| 8 kW | $4.11 | $23,019 | $17,469 | 14.2 years |
| 10 kW | $4.03 | $28,210 | $22,400 | 13.9 years |
| 12 kW | $3.95 | $33,175 | $27,557 | 13.7 years |
| 14 kW | $3.87 | $37,914 | $32,940 | 13.4 years |
| 16 kW | $3.79 | $42,428 | $38,548 | 13.1 years |
| 18 kW | $3.71 | $46,716 | $44,382 | 12.8 years |
| 20 kW | $3.63 | $50,778 | $50,442 | 12.5 years |
How to Save on Solar Panels
There are numerous companies to choose from in Lino Lakes, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be tough, so here are some tips to help you decide:
- Solar Panel Brands: Each solar panel brand and model offers varying levels of quality, durability and efficiency. They will come at different prices as well. The company you choose impacts which solar panel brands you have access to.
- Warranty: Warranties that cover defective panels and repairs over around 25 years are the gold standard in the business, and offering such a warranty is one sign of a good company.
- Contract: Though reading through a contract can take a lot of time, it’s important to do it carefully so you can be sure you understand what services your solar company will provide and how part repairs and replacements will be handled.
- Installation Process: Get detailed information from your solar installer about the installation process and what to expect, including when the site survey will be completed and how long it will take.
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 Lino Lakes, MN Solar Cost FAQs
What is the average cost of installing solar panels in Lino Lakes?
This is a tough 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 extra solar equipment or more efficient panels, or if you have higher-than-average energy needs. On the flip side, you can spend less if you opt for a smaller solar panel system or less efficient solar panels.
What other factors should I consider other than cost when buying solar panels?
The upfront cost is a crucial factor to consider, but whether it’s the most important for you depends on your reasons for going solar. In cities where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to keep in mind are the quality and durability of your solar panels.
Can solar panels significantly reduce my power bills?
Solar panels can potentially eliminate your electricity bills depending on your location and how much sunlight your home gets. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $1,012.20 per year.
How often do you have to replace solar panels?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger amount of energy production.
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.