Solar Panel Cost Guide in West Lakeland, MN (2024 Update)
- West Lakeland Solar Installation Cost: $20,370
- 25-Year Savings: $21,431
- Payback Period: 14.2 Years
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Average Cost of Solar Panels in West Lakeland
Find out what the average cost of solar panels are in West Lakeland.
The national average cost of solar panels is $2.66 per watt, but in West Lakeland it’s 4 per watt.Since a 7.2-kW system is needed to cover the energy costs of a typical home in West Lakeland, the average price of going solar will be about $20,370 after claiming the federal solar tax credit of 0.
These figures are only averages, and how much solar costs for you may vary based on the amount of energy your home requires and what company you want to go with.With average savings of about $19,000 on electricity bills over 20 years, many homeowners in West Lakeland find installing solar panels has a decent ROI.
You can click the button below to get connected with a vetted solar installer in West Lakeland that can help you get a more accurate cost estimate for your home.
Solar savings over time in West Lakeland
| Year | Return on Investment |
|---|---|
| 1 years | $-19,090 |
| 3 years | $-16,531 |
| 5 years | $-13,973 |
| 7 years | $-11,414 |
| 9 years | $-8,855 |
| 11 years | $-6,296 |
| 13 years | $-3,737 |
| 15 years | $-1,178 |
| 17 years | $1,381 |
| 19 years | $3,940 |
| 21 years | $6,499 |
| 23 years | $9,058 |
| 25 years | $11,616 |
Top Solar Installers in West Lakeland
Do-it-yourself solar panel installation is a way to cut costs, but it's an undertaking that can take a lot of hard work. Going with a solar company can make your swap to solar power much easier. A solar installer can also help save you money over time by providing warranties, repairs and component replacements.
If you're on the hunt for a solar installer in West Lakeland, the EcoWatch team has compiled a list of our top suggestions here:
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 West Lakeland
Factors that Affect Solar Panel Costs in West Lakeland
There are a number of factors that can play into your 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
System size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of going solar. Because of that, it’s a priority to accurately gauge the size of the solar energy system needed for your home by figuring out your typical energy use.There are a lot of different solar panel brands and the one you choose also changes the cost. In general, the brands that have better efficiency tend to also cost more. Plus, the type of equipment you’re looking to install can affect your total cost. If you just need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be a challenge. Solar loans are available from most installers in West Lakeland, which can bring down, or in some cases totally eliminate, your upfront costs to make solar more accessible.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
The solar installer you choose to handle your switch to green energy can play a role in your total costs. There are about 3 solar installation companies operating throughout West Lakeland, and each can charge varying amounts for labor and equipment.Additionally, some companies in West Lakeland have more knowledge about local solar incentives and can help you take advantage of additional rebates or tax exemptions. However, they may charge more for walking you through the whole process. Even if they cost more upfront, they could help you save more money in the long run.
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 | $12,133 | 14.8 years |
| 8 kW | $4.11 | $23,019 | $16,628 | 14.5 years |
| 10 kW | $4.03 | $28,210 | $21,350 | 14.2 years |
| 12 kW | $3.95 | $33,175 | $26,297 | 13.9 years |
| 14 kW | $3.87 | $37,914 | $31,469 | 13.7 years |
| 16 kW | $3.79 | $42,428 | $36,867 | 13.4 years |
| 18 kW | $3.71 | $46,716 | $42,491 | 13.1 years |
| 20 kW | $3.63 | $50,778 | $48,341 | 12.8 years |
How to Save on Solar Panels
The solar company you choose will impact not only your overall costs, but also the types of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are a few important things you should keep in mind, including:
- Solar Panel Brands: Different companies will offer various brands and models of panels. If you know you want a specific brand, make sure the solar installer you’re considering has it.
- Contract: Before signing a contract with a solar company, make sure to read it through completely so you understand the terms. Also, ask questions if you’re not sure 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.
- 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 how long it will take.
- Warranty: A comprehensive, 25-year warranty can help keep your solar system running for a long time and save you money on repairs and maintenance.
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 West Lakeland, MN Solar Cost FAQs
How much does it cost to install solar panels in West Lakeland?
The average cost of solar panels in West Lakeland 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 like the model of solar panels you want, what size system you need and how much energy you use.
What other factors should I consider aside from cost 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 installing solar panels impact the value of my home?
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 West Lakeland is currently $472,064, which means you could be looking at a value of about $19,355 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in West Lakeland is a fruitful investment.
How many solar panels should I get to power my home?
The exact number of solar panels you need depends on your household energy needs and the average daily sunlight your roof gets. You can take a look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to get between 20 and 35 panels to account for their typical energy usage.
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.