Solar Panel Cost Guide in Norwood Young America, MN (2024 Update)

  • Norwood Young America Solar Installation Cost: $20,100
  • 25-Year Savings: $19,647
  • Payback Period: 14.9 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated February 03, 2024

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We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Norwood Young America

We break down average solar pricing in Norwood Young America.

In Norwood Young America, solar panels cost about 4 per watt on average.To cover the typical energy usage of the average home in Norwood Young America, most homeowners require a 7.1-kilowatt system. Using the per-watt figure above, a solar installation costs about $20,100, or $28,743 before the federal solar tax credit of 0 is applied.

The prices above are just estimates to give you an idea of how much solar panels could cost. The true cost of installing solar panels can vary based on several factors, such as what size system you need, your energy consumption and what company you go with.But, after you've paid the upfront cost of installation, the ROI for most homeowners is typically fruitful, with a net average savings of about $18,000 over 20 years on electricity bills.

For a personalized quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.

Solar savings over time in Norwood Young America

Year Return on Investment
1 years $-18,821
3 years $-16,262
5 years $-13,703
7 years $-11,144
9 years $-8,585
11 years $-6,026
13 years $-3,467
15 years $-908
17 years $1,650
19 years $4,209
21 years $6,768
23 years $9,327
25 years $11,886

Top Solar Installers in Norwood Young America

Trying to install solar panels on your own can be a challenging undertaking, which is why getting a solar installation company is a good option for many homeowners. Solar warranties and repairs are usually included in the cost of installation when you hire a solar contractor too, which can save you more money after your initial investment.

You can get a free quote from a local solar installer on how much your investment in solar could cost for your home. Here are some in Norwood Young America:

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.0

  • Expansive service area
  • Makes charitable contributions
  • Certified B Corp
  • No leases or PPAs
  • Quality of installation may vary by location

Best Technology

Tesla Energy

★★★★★
3.2

  • 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 Norwood Young America

Factors that Affect Solar Panel Costs in Norwood Young America

The cost of installing a solar system in Norwood Young America can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The largest one is the size of the system your household needs, and other factors include equipment choices, financing options and the solar installer you choose.

Solar Equipment

When it comes to estimating the price of a solar energy system in Norwood Young America, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are mainly based on your home’s energy consumption, which you can determine by looking at past energy bills. Your total cost can increase by about $4,030 for each additional kilowatt you need.The kind of solar panels and equipment you get is another factor that will significantly impact costs. Solar panels that are more efficient, like monocrystalline panels, tend to come at a higher price. 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 for a solar system that falls within your budget.

Solar Financing Terms

If paying for solar panels out of pocket is difficult, 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.It’s a good idea 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 how long it’ll take to pay back the loan.

Solar Panel Installation Company

The last major cost factor you should take into consideration is the installer you choose. Given the growing popularity of sustainable energy solutions in Norwood Young America, you’ll have a great number of options to choose from, but each comes at varying price points for labor and equipment.Companies that only sell high-quality, high-efficiency and high-price products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally cost more. It’s best to do some research and go with the company that provides the products, warranties and services you want and also fit into your budget.

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 $10,869 15.5 years
8 kW $4.11 $23,019 $14,944 15.2 years
10 kW $4.03 $28,210 $19,244 14.9 years
12 kW $3.95 $33,175 $23,770 14.6 years
14 kW $3.87 $37,914 $28,521 14.3 years
16 kW $3.79 $42,428 $33,498 14.0 years
18 kW $3.71 $46,716 $38,701 13.7 years
20 kW $3.63 $50,778 $44,130 13.4 years

How to Save on Solar Panels

There are numerous companies to choose from in Norwood Young America, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be challenging, so here are some tips to help you decide:

  • 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.
  • Solar Panel Brands: Each solar panel brand and kind has varying levels of quality, longevity and energy efficiency. They will come at different price points as well. The company you choose has an impact on which solar panel brands you have access to.
  • Reputation: Make sure your solar panel installer has a good reputation by verifying it has certifications and licenses, checking its work history and reading reviews by past customers and solar experts like EcoWatch.
  • Contract: When reading over your solar company’s contract, ask questions about any terms you’re not sure of and be sure you understand what happens in scenarios like a system component breaking or if the company goes out of business.

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.0

  • Expansive service area
  • Makes charitable contributions
  • Certified B Corp
  • No leases or PPAs
  • Quality of installation may vary by location

Best Technology

Tesla Energy

★★★★★
3.2

  • 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 Norwood Young America, MN Solar Cost FAQs

How much does it cost to install solar panels in Norwood Young America?

This is a tough question to answer exactly, because the cost depends on a few different 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. It will be more expensive if you want additional solar equipment or more efficient panels, or if you have above-average energy needs. Conversely, you can spend less if you choose a smaller solar panel system or less efficient solar panels.

Can you get solar panels for free in Norwood Young America?

A solar panel system isn’t free in Norwood Young America, but there are some options that can make getting them more feasible, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can help lower the cost.

Is it worth going solar in Norwood Young America?

Whether or not solar panels are worth it depends on some different factors like local electricity rates and the amount of direct sunlight your roof gets.

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 how much sunlight your roof gets. You can 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 install 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.

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