Solar Panel Cost Guide in St. Peter, MN (2024 Update)
- St. Peter Solar Installation Cost: $20,040
- 25-Year Savings: $20,183
- Payback Period: 14.6 Years
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Average Cost of Solar Panels in St. Peter
Let’s have a look at the average cost of solar in St. Peter.
Although the national average of solar panels is $2.66 per watt, solar panels in St. Peter typically cost around 4.Using this figure, a typical 7.1-kW system would cost about $20,040 before the 0 federal solar tax credit is applied.
How much you pay can go above or below the average in St. Peter depending on a few factors, such as the kind of solar panels you choose and the solar company you hire.Many homeowners find going solar is a solid investment. The average homeowner in St. Peter can save about $18,000 on their electricity bills over 20 years.
Click the button below to get connected to a highly rated solar company in St. Peter for a customized quote.
Solar savings over time in St. Peter
| Year | Return on Investment |
|---|---|
| 1 years | $-18,761 |
| 3 years | $-16,202 |
| 5 years | $-13,643 |
| 7 years | $-11,084 |
| 9 years | $-8,525 |
| 11 years | $-5,966 |
| 13 years | $-3,407 |
| 15 years | $-848 |
| 17 years | $1,711 |
| 19 years | $4,269 |
| 21 years | $6,828 |
| 23 years | $9,387 |
| 25 years | $11,946 |
Top Solar Installers in St. Peter
Trying to put up solar panels on your own can be a difficult project, which is why using a solar installation company is a good option for many homeowners. Another advantage of working with a solar company is that they can help you make the most of your return of investment by lowering your future costs of repairs and replacements due to warranties and helping you learn about local incentives you can take advantage of.
You can get a free estimate from a local solar installer on how much solar panels could cost for your home. Here are some near you:
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. Peter
Factors that Affect Solar Panel Costs in St. Peter
Cost is typically one of the most important factors for homeowners considering investing in solar. There are a few major factors that will push your cost above or below the average in St. Peter: 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
Solar system size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of installing solar panels. Because of that, it’s important to accurately gauge the size of the solar energy system needed for your home by figuring out your average energy use.The brand and type of equipment you get for your solar system can raise or lower the price quite significantly. If you prefer a brand name like Tesla or SunPower, these are often more expensive than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have limited roof space or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to more savings over time. Also, if you want add-ons like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be challenging. Solar loans are available from most installers in St. Peter, which can reduce, or in some cases completely eliminate, your upfront costs to make solar more affordable.However, the interest on solar loans also adds to your overall costs, so it’s important to take that into consideration as well. You can always bring down the total you pay in interest and possibly even your APR by putting more money down.
Solar Panel Installation Company
Lastly, the company you get to install your solar system can play a part in determining the cost. St. Peter’s solar companies all have different labor costs and add varying upcharges to equipment. Companies that only sell products with high efficiency and therefore a higher price point — 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 find a company that provides the products, warranties and services you want and also is within 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 | $11,371 | 15.2 years |
| 8 kW | $4.11 | $23,019 | $15,613 | 14.9 years |
| 10 kW | $4.03 | $28,210 | $20,081 | 14.6 years |
| 12 kW | $3.95 | $33,175 | $24,774 | 14.3 years |
| 14 kW | $3.87 | $37,914 | $29,693 | 14.0 years |
| 16 kW | $3.79 | $42,428 | $34,837 | 13.7 years |
| 18 kW | $3.71 | $46,716 | $40,208 | 13.4 years |
| 20 kW | $3.63 | $50,778 | $45,804 | 13.1 years |
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Because selecting a company can be difficult, we have some tips to help you, such as:
- Contract: Look through the contract terms thoroughly to make sure you understand how much it will cost, project timeline incentives and warranties.
- Solar Panel Brands: The brand of solar panel you need to install plays a role in which company you should opt for, since different companies have access to different panels.
- Warranty: A comprehensive, long-term warranty can help keep your solar system running for a long time and save you money on repairs and maintenance.
- Installation Process: When making the switch to solar energy, it’s important to maintain an open line of communication with your solar panel company. Make sure you understand how the installation process works and the project completion timeline.
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. Peter, MN Solar Cost FAQs
How much does it cost to install solar panels in St. Peter?
This is a difficult question to answer precisely, because the cost depends on a few different 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 cost more if you want extra solar equipment or higher quality panels, or if you have above-average energy usage. On the flip side, you can spend less if you want a smaller solar panel system or less efficient solar panels.
Can you get solar panels for free in St. Peter?
You can’t get solar panels for free in St. Peter. However, you may still be able to afford them on a lower budget. You can lease solar panels for a low upfront cost or, if you want to own your solar panels, you can finance them with a solar loan.
How will solar panels impact how much my home is worth?
Solar panels can increase the value of your home significantly as long as you buy or finance your panels and don’t choose a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing a solar system."
How long do solar panels last in St. Peter?
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 the amount of energy they produce will have decreased significantly after that point. You can choose 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.