Solar Panel Cost Guide in New Prague, MN (2024 Update)
- New Prague Solar Installation Cost: $20,167
- 25-Year Savings: $19,186
- Payback Period: 15.1 Years
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Average Cost of Solar Panels in New Prague
See how much it might cost to make the switch to solar in New Prague.
While the national average of solar panels is $2.66 per watt, solar panels in New Prague generally cost about 4.The average solar panel system size in New Prague is around 7.1 kilowatts, meaning a cost of about $20,167 for a solar installation, or $28,839 before the 0 federal solar tax credit is applied.
The prices above are just estimates to give you an idea of how much solar panels could cost. The true cost of going solar can vary quite a bit based on several factors, such as how many panels you need, your energy consumption and what installation company you go with.Many homeowners find going solar is a fruitful investment. The average homeowner in New Prague can save about $18,000 on their electricity bills over 20 years.
To get a free quote from a highly rated solar installer in New Prague, you can click the button below.
Solar savings over time in New Prague
| Year | Return on Investment |
|---|---|
| 1 years | $-18,887 |
| 3 years | $-16,328 |
| 5 years | $-13,769 |
| 7 years | $-11,211 |
| 9 years | $-8,652 |
| 11 years | $-6,093 |
| 13 years | $-3,534 |
| 15 years | $-975 |
| 17 years | $1,584 |
| 19 years | $4,143 |
| 21 years | $6,702 |
| 23 years | $9,261 |
| 25 years | $11,820 |
Top Solar Installers in New Prague
Installing solar panels on your own can be a challenging undertaking, which is why hiring a solar installer is a good option for many homeowners. Another good thing about choosing a vetted solar installer is that it'll usually provide warranties and free repairs, which help protect your investment.
You can get a free estimate from a local solar installer on how much your investment in solar could cost for your home. Here are some in New Prague:
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 New Prague
Factors that Affect Solar Panel Costs in New Prague
Cost is typically one of the most important factors for homeowners who want to invest in solar. There are a few key factors that determine your overall cost in New Prague: solar equipment and system size, financing options and the solar installation company you choose. We’ll cover each of these briefly below.
Solar Equipment
One of the most important factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household uses, the larger your system will likely need to be. You can expect to spend about $4,030 per kilowatt in New Prague.The brand of solar panels and equipment you choose is another factor that will significantly affect costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to come at a higher price. Furthermore, 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 looking for a solar system that’s in your budget.
Solar Financing Terms
If paying for a solar system in cash is difficult, solar loans are a popular choice because they decrease your upfront costs and let you pay for your system over five to seven years on average.It’s a good idea to factor 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 how long it’ll take to pay back the loan.
Solar Panel Installation Company
A final consideration when trying to estimate the cost of solar for your home or business in New Prague is the company you choose to install your solar panel system. As with choosing a company to renovate your kitchen, for instance, there’s no shortage of solar installers that provide a range of services for different budgets.Larger national companies generally have lower costs, but some local companies undercut 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 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 | $10,427 | 15.7 years |
| 8 kW | $4.11 | $23,019 | $14,355 | 15.4 years |
| 10 kW | $4.03 | $28,210 | $18,507 | 15.1 years |
| 12 kW | $3.95 | $33,175 | $22,886 | 14.8 years |
| 14 kW | $3.87 | $37,914 | $27,490 | 14.5 years |
| 16 kW | $3.79 | $42,428 | $32,320 | 14.2 years |
| 18 kW | $3.71 | $46,716 | $37,376 | 13.9 years |
| 20 kW | $3.63 | $50,778 | $42,657 | 13.6 years |
How to Save on Solar Panels
Since the model of solar panels and the company you choose has an impact on your costs and your system’s durability and efficiency, it’s important to pick the right ones for you. Here are some things to keep in mind to help with your decision:
- Warranty: A quality company stands out from other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Installation Process: When making the switch to solar power, it’s essential to maintain an open line of communication with your solar panel installer. See to it that you understand how the installation process works and the project completion timeline.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and energy needs. Although there are many options for which kind of solar panel you can get, not every company will have access to the exact one you may want or need, so be sure to take a look at their list of offerings before deciding.
- Contract: Review the contract terms closely to make sure you understand the overall cost, completion timeline incentives and warranties.
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 New Prague, MN Solar Cost FAQs
How much does it cost to install solar panels in New Prague?
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 be more expensive if you want other solar equipment or higher quality panels, or if you have higher-than-average energy usage. On the other hand, you can spend less if you opt for a smaller solar panel system or less efficient solar panels.
Is it better to lease or buy solar panels in New Prague?
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 home 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.
Can solar panels completely eradicate my energy 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 $934.35 per year.
How often do you have to replace solar panels?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is how much energy they produce will have decreased significantly after that point. You can decide to replace them once you've had them for that long or you can keep using them at a lower efficiency.
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.