Solar Panel Cost Guide in Montevideo, MN (2024 Update)
- Montevideo Solar Installation Cost: $19,852
- 25-Year Savings: $16,405
- Payback Period: 16.3 Years
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Average Cost of Solar Panels in Montevideo
Here’s how much it might cost to go solar in Montevideo.
The national average cost of solar panels is $2.66 per watt, but in Montevideo it’s 4 per watt.The average solar panel system size in Montevideo is around 7.0 kilowatts, meaning a cost of about $19,852 for a solar installation, or $28,388 before the 0 federal solar tax credit is applied.
These figures are only averages, and how much solar costs for you will most likely vary based on factors unique to your home and what company you choose to go with.Even with the high upfront cost, the average Montevideo homeowner can save about $16,000 on their power bills over 20 years, which is one of the positives of solar.
To get a free quote from a highly rated solar installation company in Montevideo, you can click the button below.
Solar savings over time in Montevideo
| Year | Return on Investment |
|---|---|
| 1 years | $-18,572 |
| 3 years | $-16,013 |
| 5 years | $-13,455 |
| 7 years | $-10,896 |
| 9 years | $-8,337 |
| 11 years | $-5,778 |
| 13 years | $-3,219 |
| 15 years | $-660 |
| 17 years | $1,899 |
| 19 years | $4,458 |
| 21 years | $7,017 |
| 23 years | $9,575 |
| 25 years | $12,134 |
Top Solar Installers in Montevideo
Many homeowners choose to hire a solar panel company since installing solar panels yourself can be challenging. Solar warranties and repairs are often included in the cost of installation when you go with a solar contractor too, which can save you more money over time.
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 Montevideo
Factors that Affect Solar Panel Costs in Montevideo
Cost is usually one of the most important factors for homeowners considering investing in solar. There are a few key factors that determine your overall cost in Montevideo: solar equipment and system size, financing options and the solar installation company you choose. We’ll discuss each of these briefly below.
Solar Equipment
The cost of solar panel systems 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 greater efficiency or power generation require 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.Some solar brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer better efficiency. In a city like Montevideo, where sunlight is relatively abundant, efficiency can quickly pay off. In addition, if you have a small roof or limited space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
If paying for solar panels out of pocket is too expensive, solar loans are a popular option because they reduce your upfront costs and let you pay for your system over five to seven years on average.Though solar loans make adopting solar energy more accessible for Montevideo homeowners, they can also raise the total you pay for your system, depending on your interest rate. If you put down a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The solar installer you choose will influence your total cost to go solar. Different companies will bill different amounts for the equipment and labor.The size of the company can sometimes play the most significant role in the cost. Larger national companies, like SunPro and Sunrun, often have lower prices due to access to greater resources and bulk pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or discount can bring their pricing lower to compete with bigger names.
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 | $8,312 | 17.0 years |
| 8 kW | $4.11 | $23,019 | $11,534 | 16.7 years |
| 10 kW | $4.03 | $28,210 | $14,982 | 16.3 years |
| 12 kW | $3.95 | $33,175 | $18,655 | 16.0 years |
| 14 kW | $3.87 | $37,914 | $22,554 | 15.7 years |
| 16 kW | $3.79 | $42,428 | $26,679 | 15.3 years |
| 18 kW | $3.71 | $46,716 | $31,030 | 15.0 years |
| 20 kW | $3.63 | $50,778 | $35,606 | 14.7 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 find the right company for you, here are some tips to keep in mind:
- Solar Panel Brands: Not all solar companies have the same brands of solar panels, so the brand and type of panel you want can play a large role in the company you hire.
- Installation Process: When going solar, it’s essential to keep an open line of communication with your solar installer. Confirm that you understand how the installation process will go and the project completion timeline.
- Contract: Read the contract terms carefully to make sure you understand the cost breakdown, completion timeline rebates and warranties.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for sustainable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a solid reputation and is qualified to get the job done well. Another way you can verify your installer’s reputation is by reading reviews.
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 Montevideo, MN Solar Cost FAQs
What is the average cost of installing solar panels in Montevideo?
The average cost of solar panels in Montevideo is about $20,150 for a 5-kW system and $40,300 for a 10-kW system before the ITC, but the real cost will depend on stuff such as the type of solar panels you want, what size system you need and how much energy you use.
Is cost the most important thing to keep in mind when buying solar panels?
Cost is without a doubt one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
How will installing solar panels impact the value of my home?
Solar panels can increase the value of your home significantly as long as you buy or finance your panels and don’t go for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% with a solar installation."
How many solar panels should I get to power my home?
The exact number of solar panels you need depends on your household energy needs and the amount of sunlight your roof gets. You can take a 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 account for 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.