Solar Panel Cost Guide in Two Harbors, MN (2024 Update)
- Two Harbors Solar Installation Cost: $21,243
- 25-Year Savings: $16,277
- Payback Period: 17.0 Years
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Average Cost of Solar Panels in Two Harbors
We break down average solar pricing in Two Harbors.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Two Harbors, the typical cost of a solar system is 4 per watt.The average Two Harbors homeowner needs a 7.5-kilowatt system, which would cost about $21,243 with the federal tax credit, or $30,377 before the 0 tax credit is applied.
Remember that the numbers above are only averages. The price you’ll pay for solar may look quite different based on your household energy needs, the type of solar system you choose, your solar contractor and more.But, after you've paid the initial cost of installation, the return on investment for most homeowners is usually fruitful, with a net average savings of about $16,000 over 20 years on electricity bills.
Click the button below to get connected to a highly rated solar installer in your area for a custom quote.
Solar savings over time in Two Harbors
| Year | Return on Investment |
|---|---|
| 1 years | $-20,202 |
| 3 years | $-18,119 |
| 5 years | $-16,036 |
| 7 years | $-13,953 |
| 9 years | $-11,870 |
| 11 years | $-9,788 |
| 13 years | $-7,705 |
| 15 years | $-5,622 |
| 17 years | $-3,539 |
| 19 years | $-1,456 |
| 21 years | $627 |
| 23 years | $2,710 |
| 25 years | $4,792 |
Top Solar Installers in Two Harbors
Installing solar panels by yourself can be a dangerous undertaking, which is why hiring a solar installer is a good option for many homeowners. Some solar companies, especially local ones, can help you better understand incentives in Two Harbors, thereby optimizing your ROI.
Working with a professional solar installer can help you make the most of your investment in solar. Here are our recommendations:
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 Two Harbors
Factors that Affect Solar Panel Costs in Two Harbors
The cost of installing a solar system in Two Harbors 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
One of the most important factors to consider when it comes to the cost of adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more power your household uses, the larger your system will likely need to be. You can expect to pay around $4,030 per kilowatt in Two Harbors.The type of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you opt for the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. However, more efficient panels could save you more in the long run on your energy bills. Additionally, extra products, like solar batteries, can bump up your total well above the Two Harbors average.
Solar Financing Terms
Most solar installers in Two Harbors provide solar loans, which reduce the initial cost of installing solar.When figuring out your overall cost, you should also calculate the interest you’ll pay if you choose to go with a solar loan. Also, paying more upfront can lower the total interest paid over time.
Solar Panel Installation Company
Lastly, the company you opt for to install your solar panel system can impact the cost. Two Harbors’s solar companies all have different labor costs and add varying upcharges to equipment. Larger national companies usually have lower costs, but some local companies keep up with 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 vehicle 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 | $7,294 | 17.7 years |
| 8 kW | $4.11 | $23,019 | $10,176 | 17.3 years |
| 10 kW | $4.03 | $28,210 | $13,285 | 17.0 years |
| 12 kW | $3.95 | $33,175 | $16,619 | 16.7 years |
| 14 kW | $3.87 | $37,914 | $20,178 | 16.3 years |
| 16 kW | $3.79 | $42,428 | $23,963 | 16.0 years |
| 18 kW | $3.71 | $46,716 | $27,974 | 15.6 years |
| 20 kW | $3.63 | $50,778 | $32,211 | 15.3 years |
How to Save on Solar Panels
Since the type of solar panels and the installation company you choose has an impact on your costs and your system’s durability and efficiency, it’s important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- Reputation: Your solar installer should have a sound reputation as a company and have verifiable expertise in the field. Two ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has satisfied reviews from previous customers.
- Contract: Before signing a contract with a solar installer, be sure to read it through carefully so you understand the terms. Also, ask questions if you’re unsure about some of the terms, such as what the warranty covers and what services you can expect from them.
- Warranty: Many companies offer different types of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their roof configurations and energy needs. Although there are many options for which model of solar panel you can get, not every company will have access to the exact one you may want or need, so be sure to take a look at their list of options before making your decision.
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 Two Harbors, MN Solar Cost FAQs
What is the average cost of installing solar panels in Two Harbors?
The average cost of solar panels in Two Harbors 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 things like the type 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 Two Harbors?
Leasing solar panels can be an attractive choice, because it often comes with low or $0 upfront payments. The downside is that you won’t be able to save as much. If you lease, you don’t own the system, so you can’t claim any incentives and your home value won’t increase. Buying solar panels is a better way to go if you want to maximize your savings.
Is going solar worth it?
Solar panels can be a fruitful investment for lots of homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your power bills are already fairly low, solar panels might not be for you.
How many solar panels should I get to power my home?
To figure out how many solar panels you need, you should find out how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average household 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.