Solar Panel Cost Guide in Melrose, MN (2024 Update)
- Melrose Solar Installation Cost: $20,049
- 25-Year Savings: $15,099
- Payback Period: 17.1 Years
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Average Cost of Solar Panels in Melrose
We go over average solar pricing in Melrose.
The national average cost of solar panels is $2.66 per watt, but in Melrose it’s 4 per watt.Using this figure, a typical 7.1-kW system would cost about $20,049 before the 0 federal solar tax credit is applied.
Remember that the numbers above are only averages. The price you’ll pay for solar may look quite different based on your household energy consumption, the type of solar system you choose, your solar contractor and more.For many homeowners, the upfront investment in solar is worth paying. On average you could be looking at about $16,000 in savings on electricity bills over 20 years.
For a customized quote from a local solar installer that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Melrose
| Year | Return on Investment |
|---|---|
| 1 years | $-19,008 |
| 3 years | $-16,925 |
| 5 years | $-14,842 |
| 7 years | $-12,759 |
| 9 years | $-10,676 |
| 11 years | $-8,594 |
| 13 years | $-6,511 |
| 15 years | $-4,428 |
| 17 years | $-2,345 |
| 19 years | $-262 |
| 21 years | $1,821 |
| 23 years | $3,904 |
| 25 years | $5,986 |
Top Solar Installers in Melrose
Although it's possible to install solar panels by yourself, it requires extra effort and handiness. For that reason, most homeowners choose a solar panel installer. Plus, warranties and repairs from your solar panel company can protect your investment and reduce the cost of maintenance over time.
If you’d like to go solar but still aren’t sure which solar installer to go with, here are our recommendations for providers 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 Melrose
Factors that Affect Solar Panel Costs in Melrose
Though the average cost of a solar system in Melrose is $20,049, your actual cost may differ. There are quite a few factors that can have a significant impact on the cost of a solar panel installation. Below are some of the more crucial things to take into consideration.
Solar Equipment
When it comes to estimating the price of solar panels in Melrose, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home’s energy consumption, which you can determine by looking at past electricity bills. Your overall cost can increase by about $4,030 for each additional kilowatt you need.There are a lot of different solar panel brands and the one you choose also changes the cost. Typically, the brands that have better efficiency tend to also be more expensive. Plus, the type of equipment you’re looking to install can affect your total cost. If you just need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be a challenge. Solar loans are provided by most installers in Melrose, which can bring down, or in some cases totally eliminate, your upfront costs to make solar more accessible.It’s wise to include the interest you’ll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and the amount of time it’ll take to pay off the loan.
Solar Panel Installation Company
Lastly, the company you opt for to install your solar panel system can affect your pricing. Melrose’s solar companies all have different labor costs and add varying upcharges to equipment. You may notice national solar installers that have lower prices due to their larger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or specials to compete with those larger companies.
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 | $7,072 | 17.8 years |
| 8 kW | $4.11 | $23,019 | $9,880 | 17.5 years |
| 10 kW | $4.03 | $28,210 | $12,914 | 17.1 years |
| 12 kW | $3.95 | $33,175 | $16,174 | 16.8 years |
| 14 kW | $3.87 | $37,914 | $19,660 | 16.5 years |
| 16 kW | $3.79 | $42,428 | $23,371 | 16.1 years |
| 18 kW | $3.71 | $46,716 | $27,308 | 15.8 years |
| 20 kW | $3.63 | $50,778 | $31,471 | 15.4 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you decide on the right company for you, here are some tips to keep in mind:
- Reputation: Make sure your solar company has a good reputation by verifying it has certifications and licenses, checking how long it's been in business and reading reviews by previous customers and solar experts like EcoWatch.
- Installation Process: When making the switch to solar power, it’s necessary to maintain an open line of communication with your solar panel installer. See to it that you understand how the installation process will go and the completion timeline.
- Solar Panel Brands: Not all solar companies offer the same brands of solar panels, so the brand and type of panel you want can play a substantial role in the company you opt for.
- Contract: It’s important to look over your solar installer’s contract well to understand what services they will provide, what the warranty covers and what you can expect about the project timeline.
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 Melrose, MN Solar Cost FAQs
How much does it cost to install solar panels in Melrose?
This is a hard question to answer precisely, because the cost depends on many 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 additional solar equipment or more efficient panels, or if you have above-average energy needs. On the flip side, you can spend less if you go with a smaller solar panel system or less efficient solar panels.
What other factors should I consider aside from cost when buying solar panels?
Cost is certainly one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Can you sell solar power back to the grid in Melrose?
Most states offer net metering programs of some kind. Through these, you can get paid for the extra power your system produces or or receive credits to put toward future utility bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.
How long do solar panels last in Melrose?
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 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.