Solar Panel Cost Guide in Waite Park, MN (2024 Update)
- Waite Park Solar Installation Cost: $20,049
- 25-Year Savings: $19,925
- Payback Period: 14.7 Years
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Average Cost of Solar Panels in Waite Park
Here’s how much it might cost to make the switch to solar in Waite Park.
Although the national average of solar panels is $2.66 per watt, solar panels in Waite Park generally cost around 4.The average Waite Park homeowner needs a 7.1-kilowatt system, which would cost about $20,049 with the federal tax credit, or $28,670 before the 0 tax credit is applied.
How much you pay can be higher or lower than the average in Waite Park depending on several factors, such as the brand of solar panels you choose and the solar company you hire.Many homeowners find going solar is a fruitful investment. The average homeowner in Waite Park can save around $18,000 on their power bills over 20 years.
For a customized quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Waite Park
| Year | Return on Investment |
|---|---|
| 1 years | $-18,770 |
| 3 years | $-16,211 |
| 5 years | $-13,652 |
| 7 years | $-11,093 |
| 9 years | $-8,534 |
| 11 years | $-5,975 |
| 13 years | $-3,417 |
| 15 years | $-858 |
| 17 years | $1,701 |
| 19 years | $4,260 |
| 21 years | $6,819 |
| 23 years | $9,378 |
| 25 years | $11,937 |
Top Solar Installers in Waite Park
DIY solar panel installation is a way to cut costs, but it's an undertaking that can be a pain. Using an installer can make swapping over to solar power much easier. The expertise that solar installers offer can be helpful as well, particularly if you aren’t sure what brand of solar equipment you need.
You can get a free quote from a local solar installer on the cost of solar panels 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 Waite Park
Factors that Affect Solar Panel Costs in Waite Park
There are many criteria that can play into your solar panel installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar system.
Solar Equipment
When it comes to estimating the price of a solar panel system in Waite Park, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are primarily based on your home’s energy consumption, which you can figure out by looking at past power bills. Your overall cost can increase by around $4,030 for each additional kilowatt you need.The type of solar panels and equipment you get is another factor that will significantly impact costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to be more pricey. Plus, solar equipment goes beyond just the solar panels themselves. You’ll also need to think 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
For some homeowners, paying for solar panels out of pocket can be a challenge. Solar loans are offered by most installers in Waite Park, which can lower, or in some cases completely eliminate, your upfront costs to make solar more affordable.It’s a good idea to add the interest you’ll pay in your final cost estimate. If you can afford to pay a higher down payment, you can reduce your total costs and the amount of time it’ll take to pay off the loan.
Solar Panel Installation Company
The final major cost factor you should keep in mind is the installer you choose. Given the growing popularity of clean energy solutions in Waite Park, you’ll have plenty of options to choose from, but each comes at different price points for labor and equipment.Companies that only sell high-quality, high-efficiency and high-price products — 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 choose a company that has 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 | $11,146 | 15.3 years |
| 8 kW | $4.11 | $23,019 | $15,313 | 15.0 years |
| 10 kW | $4.03 | $28,210 | $19,705 | 14.7 years |
| 12 kW | $3.95 | $33,175 | $24,323 | 14.4 years |
| 14 kW | $3.87 | $37,914 | $29,167 | 14.1 years |
| 16 kW | $3.79 | $42,428 | $34,236 | 13.8 years |
| 18 kW | $3.71 | $46,716 | $39,531 | 13.5 years |
| 20 kW | $3.63 | $50,778 | $45,052 | 13.2 years |
How to Save on Solar Panels
The solar installer you go with will affect not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are some important things you should consider, including:
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and energy needs. Although there are many options for which kind of solar panel you can get, not every company will have the exact one you may want or need, so make sure you ask for their list of offerings before deciding.
- Contract: It’s important to look over your solar installer’s contract closely to understand what services they will provide, what the warranty covers and what expectations you should have about your solar system’s energy production.
- Installation Process: Make sure you’re aligned with the company with regard to how the installation process will go and what needs to be done before your solar system is installed, such as repairing your electrical system or roof.
- Reputation: Companies that have been operating for many years likely have a solid reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide quality aftercare and customer support, such as part repairs and replacements.
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 Waite Park, MN Solar Cost FAQs
How much does it cost to install solar panels in Waite Park?
This is a hard question to answer exactly, because the cost depends on many 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 other solar equipment or more efficient panels, or if you have above-average energy needs. On the other hand, you can spend less if you go with a smaller solar panel system or less efficient solar panels.
Can you get solar panels for free in Waite Park?
You can’t get solar panels for free in Waite Park. 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’d prefer to own your solar panels, you can finance them with a solar loan.
Can you sell solar power back to the grid in Waite Park?
Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just offer you credit toward your future energy bills.
How often do you have to replace solar panels?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is how much energy they produce will have decreased significantly after that point. You can decide to replace them after having them for that long or you can continue to use 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.