Solar Panel Cost Guide in Mahtomedi, MN (2024 Update)
- Mahtomedi Solar Installation Cost: $20,370
- 25-Year Savings: $21,431
- Payback Period: 14.2 Years
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Updated February 03, 2024
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Average Cost of Solar Panels in Mahtomedi
We go over average solar pricing in Mahtomedi.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Mahtomedi, the typical cost of solar panels is 4 per watt.To account for the typical energy usage of the average home in Mahtomedi, most homeowners require a 7.2-kilowatt system. Using the figure above, a solar installation costs about $20,370, or $29,129 before the federal solar tax credit of 0 is applied.
The true price you pay can be higher or lower than the average in Mahtomedi based on a variety of factors, such as the type of solar panels you choose and the solar company you hire.For most homeowners, the upfront investment in solar is worth paying. On average Mahtomedi homeowners see about $19,000 in savings on electricity bills over 20 years.
Click the button below to get connected to a vetted solar installer in Mahtomedi for a personalized estimate.
Solar savings over time in Mahtomedi
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 Mahtomedi
Many homeowners decide to use a solar panel company since trying to put up solar panels yourself can be time-consuming. Local solar installers can also help you maximize your return on investment by walking you through any local incentives you can benefit from and by offering warranties and repairs.
There are several licensed solar professionals that can help you install your solar panels. Here are our suggestions:
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 Mahtomedi
Factors that Affect Solar Panel Costs in Mahtomedi
For many Mahtomedi homeowners, the decision to adopt solar energy rests on cost. However, the range of solar installation costs can be quite wide in Mahtomedi, with typical prices between $20,000 to $40,000. There are a number of factors that significantly influence the price you’ll pay, which we'll go over below.
Solar Equipment
One of the most important factors to consider when it comes to the cost of adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more power your household uses, the larger your system will likely need to be. You can expect to spend about $4,030 per kilowatt in Mahtomedi.The kind of solar panels and equipment you choose is another factor that will significantly influence costs. Solar panels that are more efficient, like monocrystalline panels, tend to cost more. Moreover, solar equipment is more than 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 searching for a solar system that falls within your budget.
Solar Financing Terms
Solar panels can save you money on utility bills over time, but they can also be a significant investment. That’s why many Mahtomedi homeowners decide to finance their solar panel systems to make paying for solar more affordable.You’ll have to consider the long-term cost of financing options, including the amount of interest you’ll pay over the length of the loan. If you’re only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or finding a solar loan with a low APR could reduce your costs remarkably.
Solar Panel Installation Company
The solar panel installation company you select will play a role in your total cost to go solar. Different companies will bill different amounts for the equipment and labor.Larger national companies usually have lower costs, but some local companies compete with them by promoting sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or additional services like electric car 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 | $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
The solar company you choose will affect not only your overall costs, but also the types of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are some important things you should take into account, including:
- Contract: It’s important to read through your solar installer’s contract carefully to understand what services they will provide, what the warranty covers and what you can expect about the installation process.
- Warranty: A quality company stands out from other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Solar Panel Brands: Each solar panel brand and type has varying levels of quality, longevity and efficiency. They will come at different price points as well. The company you choose affects which solar panel brands you have access to.
- Reputation: Make sure your solar panel installer has a good reputation by confirming it has certifications and licenses, checking its work history and reading reviews by past customers and solar experts like EcoWatch.
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 Mahtomedi, MN Solar Cost FAQs
What is the average cost of installing solar panels in Mahtomedi?
This is a hard question to answer precisely, because the cost depends on a variety of 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. You can expect to pay more if you want other solar equipment or more efficient panels, or if you have above-average energy needs. On the flip side, you can spend less if you choose a smaller solar panel system or less efficient solar panels.
Are solar panels free in Mahtomedi?
Solar panels aren’t free in Mahtomedi, but there are some options that can make getting them more affordable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can further reduce the cost.
How much can I save on electricity bills after installing solar panels?
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 $991.19 per year.
How often do you have to replace solar panels?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher level 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.