Solar Panel Cost Guide in Savage, MN (2024 Update)
- Savage Solar Installation Cost: $20,196
- 25-Year Savings: $19,393
- Payback Period: 15.0 Years
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Average Cost of Solar Panels in Savage
Find out what the average cost of a solar system is in Savage.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Savage, the average cost of a solar system is 4 per watt.The average Savage homeowner needs a 7.2-kilowatt system, which would cost about $20,196 with the federal tax credit, or $28,880 before the 0 tax credit is applied.
These figures are only estimates, and how much solar costs for you will vary based on your energy needs and what company you go with.For many homeowners, the upfront cost of solar is worth paying. On average you could be looking at about $18,000 in savings on electricity bills over 20 years.
For a personalized quote from a local solar installer that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Savage
| Year | Return on Investment |
|---|---|
| 1 years | $-18,916 |
| 3 years | $-16,357 |
| 5 years | $-13,799 |
| 7 years | $-11,240 |
| 9 years | $-8,681 |
| 11 years | $-6,122 |
| 13 years | $-3,563 |
| 15 years | $-1,004 |
| 17 years | $1,555 |
| 19 years | $4,114 |
| 21 years | $6,673 |
| 23 years | $9,231 |
| 25 years | $11,790 |
Top Solar Installers in Savage
When making the switch to solar, many homeowners prefer to hire a solar company since putting up a solar system yourself can be a challenging project. Also, companies with a good reputation that cost more upfront could actually save you money in the long run because of their warranties, repair services and expert design.
If you're looking for a solar company in Savage, we've organized a list of our top suggestions here:
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 Savage
Factors that Affect Solar Panel Costs in Savage
The cost of installing a solar system in Savage can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The largest one is your system size, and other factors include equipment choices, financing options and the solar installer you choose.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to some different factors. One of the notable factors is the system size, which is measured in kilowatts (kW). Solar power systems with greater efficiency or power generation need 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.The kind of solar panels and equipment you choose is another factor that will considerably impact costs. Solar panels that are more efficient, like monocrystalline panels, tend to be more pricey. Further, 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 researching a solar system that’s in your budget.
Solar Financing Terms
Many homeowners find the average cost of solar in Savage to be prohibitively costly, even if the investment pays off over time. Fortunately, almost every solar company in the area provides access to financing options. Solar loans greatly decrease upfront costs for most homeowners, but they also result in paying more over time because of interest.You’ll have to consider the long-term cost of loans, including the amount of interest you’ll pay over the length of the loan. If you can only 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 getting a solar loan with a low interest rate could reduce your costs significantly.
Solar Panel Installation Company
The last significant cost factor you should consider is the installer you choose. Given the growing popularity of sustainable energy solutions in Savage, you’ll have a great number of options to choose from, but each comes at varying price points for labor and equipment.You may notice national solar installers that have lower prices due to their larger brand name and access to bulk equipment prices, or you might see small, local installation companies offering deals or promotions to compete with those major players.
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 | $10,578 | 15.6 years |
| 8 kW | $4.11 | $23,019 | $14,556 | 15.3 years |
| 10 kW | $4.03 | $28,210 | $18,759 | 15.0 years |
| 12 kW | $3.95 | $33,175 | $23,188 | 14.7 years |
| 14 kW | $3.87 | $37,914 | $27,842 | 14.4 years |
| 16 kW | $3.79 | $42,428 | $32,722 | 14.1 years |
| 18 kW | $3.71 | $46,716 | $37,828 | 13.8 years |
| 20 kW | $3.63 | $50,778 | $43,159 | 13.5 years |
How to Save on Solar Panels
The solar panel company you go with will impact not only your total costs, but also the types of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are a few important things you should take into account, including:
- Installation Process: When making the switch to solar power, it’s important to maintain an open line of communication with your solar company. Confirm that you understand how the installation process will go and the completion timeline.
- Warranty: A high-quality company rises above other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Contract: It’s important to look over your solar installer’s contract carefully to understand what services they will provide, what the warranty covers and what you can expect about your solar system’s energy production.
- Reputation: Solar panel companies that have great reviews from their customers and that have been in business for many years likely provide good-quality solar panel installation and expertise.
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 Savage, MN Solar Cost FAQs
What is the average cost of installing solar panels in Savage?
The average cost of solar panels in Savage is about $20,150 for a 5-kW system and $40,300 for a 10-kW system before the ITC, but the actual cost will depend on certain factors such as the model of solar panels you want, what size system you need and how much energy you use.
Are solar panels free in Savage?
A solar panel system isn’t free in Savage, 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 you can take advantage of.
Is going solar worth it?
Solar panels can be a good investment for a majority of homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your electricity bills are already fairly low, solar panels might not be for you.
How often do you have to replace solar panels?
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 amount 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.