Solar Panel Cost Guide in St. Michael, MN (2024 Update)

  • St. Michael Solar Installation Cost: $20,102
  • 25-Year Savings: $11,884
  • Payback Period: 15.0 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 St. Michael

Let’s have a look at the average cost of solar panels in St. Michael.

In St. Michael, solar panels cost about 4 per watt on average.Since a 7.1-kW system is needed to cover the energy costs of a typical home in St. Michael, the average price of going solar will be about $20,102 after claiming the federal solar tax credit of 0.

Keep in mind that the figures above are only estimates based on the average energy use of St. Michael homeowners. The cost of a solar system for your home may look different depending on factors unique to your situation, like your household energy use and solar contractor.But, once you've paid the initial cost of installation, the ROI for most homeowners is typically good, with a net average savings of about $18,000 over 20 years on utility bills.

Click the button below to get connected to a highly rated solar company in your area for a personalized estimate.

Solar savings over time in St. Michael

Year Return on Investment
1 years $-18,822
3 years $-16,263
5 years $-13,704
7 years $-11,146
9 years $-8,587
11 years $-6,028
13 years $-3,469
15 years $-910
17 years $1,649
19 years $4,208
21 years $6,767
23 years $9,326
25 years $11,884

Top Solar Installers in St. Michael

Although you can install solar panels yourself, it requires extra effort and know-how. For that reason, most people choose to go with a solar panel installer. Another great thing about using a reliable solar installer is that it'll provide warranties and free repairs, which help protect your solar system over time.

If you’d like to switch to solar energy but still aren’t certain which solar panel installer to go with, here are our suggestions for providers near you:

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 St. Michael

Factors that Affect Solar Panel Costs in St. Michael

Cost is usually one of the most important factors for homeowners who want to invest in solar. There are a few major factors that determine your overall cost in St. Michael: solar equipment and system size, financing options and the solar installation company you choose. We’ll go over each of these briefly below.

Solar Equipment

One of the most important factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more energy your household consumes, the larger your system will likely need to be. You can expect to pay about $4,030 per kilowatt in St. Michael.The kind of solar panels and equipment you choose is another factor that will significantly influence costs. Solar panels that are more efficient, like monocrystalline panels, tend to come at a higher price. Plus, solar equipment is more than just the solar panels themselves. You’ll also need to consider 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 falls within your budget.

Solar Financing Terms

If paying for a solar system out of pocket is difficult, solar loans are a popular route because they cut back your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years.You’ll have to consider the long-term cost of financing options, 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 more than the original cost. Making a larger down payment or finding a solar loan with a low interest rate could reduce your costs considerably.

Solar Panel Installation Company

A final factor to consider when trying to evaluate the cost of solar for your home or business in St. Michael is the company you get to install your solar system. As with choosing a company to build a deck or pool, for instance, there’s no shortage of solar installers that provide a range of services for different budgets.Larger national companies usually have lower costs, but some local companies undercut them by promoting sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or extra services like electric car 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 $10,666 15.6 years
8 kW $4.11 $23,019 $14,673 15.3 years
10 kW $4.03 $28,210 $18,905 15.0 years
12 kW $3.95 $33,175 $23,363 14.7 years
14 kW $3.87 $37,914 $28,047 14.4 years
16 kW $3.79 $42,428 $32,957 14.1 years
18 kW $3.71 $46,716 $38,092 13.8 years
20 kW $3.63 $50,778 $43,453 13.5 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 select the right company for you, here are some tips to keep in mind:

  • Installation Process: Get details from your solar installer about the installation process and what to expect, such as when the site survey will be completed and what the project timeline is.
  • Reputation: Solar panel companies that have great reviews from their customers and that have been in business for many years likely offer good-quality solar panel installation and expertise.
  • Warranty: If you care about the longevity of your solar panel system, checking if your company offers a 25-year, all-inclusive warranty can help put you at ease.
  • Contract: Before signing a contract with a solar installer, be sure to read it through fully so you understand the terms. Also, ask questions if you’re unsure about some of the terms, such as what to do if a part breaks or malfunctions and if there are any guarantees about energy production.

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 St. Michael, MN Solar Cost FAQs

How much does it cost to install solar panels in St. Michael?

The average cost of solar panels in St. Michael 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 model of solar panels you want, what size system you need and how much energy you use.

Is cost the most important consideration when buying solar panels?

Cost is without a doubt one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.

How will having solar panels impact how much my home is worth?

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. Michael is currently $416,939, so you could be looking at a value of about $17,094 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in St. Michael is a rewarding investment.

How often do you have to replace solar panels?

Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is the amount of 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.

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