Solar Panel Cost Guide in St. James, MN (2024 Update)
- St. James Solar Installation Cost: $20,036
- 25-Year Savings: $16,267
- Payback Period: 16.5 Years
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Average Cost of Solar Panels in St. James
See how much it might cost to make the switch to solar in St. James.
Although the national average of solar panels is $2.66 per watt, solar panels in St. James typically cost about 4.The average St. James homeowner needs a 7.1-kilowatt system, which would cost about $20,036 with the federal tax credit, or $28,651 before the 0 tax credit is applied.
These figures are only averages, and your own solar costs may look different based on your energy needs and what company you want to go with.But, after you've paid the initial cost of installation, the return on investment for most homeowners is usually good, with a net average savings of about $16,000 over 20 years on utility bills.
To see your potential savings and connect with a local solar expert, click the button below.
Solar savings over time in St. James
| Year | Return on Investment |
|---|---|
| 1 years | $-18,826 |
| 3 years | $-16,406 |
| 5 years | $-13,986 |
| 7 years | $-11,566 |
| 9 years | $-9,146 |
| 11 years | $-6,726 |
| 13 years | $-4,306 |
| 15 years | $-1,886 |
| 17 years | $534 |
| 19 years | $2,954 |
| 21 years | $5,374 |
| 23 years | $7,794 |
| 25 years | $10,214 |
Top Solar Installers in St. James
Although you can install solar panels by yourself, it involves extra time and expertise. Because of that, the majority of homeowners choose a solar panel installer. Another upside of using a solar company is that they can help you optimize your ROI by lowering your future costs of repairs and replacements due to warranties and informing you of local incentives you can take advantage of.
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 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 St. James
Factors that Affect Solar Panel Costs in St. James
For many St. James homeowners, the decision to install a solar energy system rests on cost. However, the range of solar installation costs can be quite wide in St. James, with typical prices between $20,000 to $40,000. There are a number of factors that significantly influence the price you’ll pay, which we'll go over below.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of going solar. For that reason, it’s crucial to accurately gauge the size of the solar energy system needed for your home by figuring out your energy needs.The brand of solar panels and equipment you want is another factor that will substantially affect costs. Solar panels that have higher efficiency, 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 decide on the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when searching for a solar system that’s in your budget.
Solar Financing Terms
If paying for solar panels out of pocket is out of reach, solar loans are an affordable route because they reduce your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years.When figuring out your overall cost, you should also calculate the interest you’ll pay if you decide on a solar loan. Also, paying more on your down payment can reduce the total interest paid over time.
Solar Panel Installation Company
The solar installer you hire to handle your switch to sustainable energy can have an effect on your total costs. There are about 3 solar installation companies operating throughout St. James, and each can charge different amounts for labor and equipment.You may see national solar installers that have lower prices because of their bigger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or promotions 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 | $8,067 | 17.1 years |
| 8 kW | $4.11 | $23,019 | $11,207 | 16.8 years |
| 10 kW | $4.03 | $28,210 | $14,573 | 16.5 years |
| 12 kW | $3.95 | $33,175 | $18,164 | 16.2 years |
| 14 kW | $3.87 | $37,914 | $21,982 | 15.8 years |
| 16 kW | $3.79 | $42,428 | $26,025 | 15.5 years |
| 18 kW | $3.71 | $46,716 | $30,293 | 15.2 years |
| 20 kW | $3.63 | $50,778 | $34,788 | 14.8 years |
How to Save on Solar Panels
There are a lot of companies available in St. James, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be difficult, so here are some tips to help you decide:
- Installation Process: Get details from your solar company about the installation process and what to expect, such as when the site survey will be completed and what the project timeline is.
- Contract: Read the contract terms thoroughly to make sure you understand the cost breakdown, completion timeline incentives and warranties.
- 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 opt for.
- Warranty: Each company may offer different types of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
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 St. James, MN Solar Cost FAQs
What is the average cost of installing solar panels in St. James?
The average cost of solar panels in St. James 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 things such as the model of solar panels you want, what size system you need and how much energy you use.
Is it better to lease or buy solar panels in St. James?
Leasing solar panels can be an option if you can’t pay upfront or secure a solar loan, but since you don’t own the system, you don’t have access to many solar incentives. Also your property 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 bang for your buck from going solar.
Do solar panels increase your property value?
Installing solar panels on your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in St. James is currently $142,104, so you can expect a value of about $5,826 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in St. James is a worthwhile investment.
How many solar panels do I need to power my home?
To figure out what solar panel system size you need, you should find out how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can typically produce about 250 to 400 watt-hours per hour, the average house will need 20 to 35 panels.
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.