Solar Panel Cost Guide in Willmar, MN (2024 Update)
- Willmar Solar Installation Cost: $19,943
- 25-Year Savings: $8,078
- Payback Period: 15.8 Years
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Average Cost of Solar Panels in Willmar
Let’s take a look at the average cost of solar panels in Willmar.
The average cost of a solar panel system in Willmar is 4 per watt.The average Willmar homeowner needs a 7.1-kilowatt system, which would cost about $19,943 with the federal tax credit, or $28,518 before the 0 tax credit is applied.
These figures are just estimates, and your own solar costs may vary based on the amount of energy your home requires and what company you want to go with.Even with the high initial cost, the average Willmar homeowner can save around $17,000 on their electricity bills over 20 years, which is one of the perks of solar.
You can click the button below to get connected with a pre-vetted solar company in Willmar that can help you get a more accurate cost estimate for your home.
Solar savings over time in Willmar
| Year | Return on Investment |
|---|---|
| 1 years | $-18,823 |
| 3 years | $-16,581 |
| 5 years | $-14,339 |
| 7 years | $-12,097 |
| 9 years | $-9,856 |
| 11 years | $-7,614 |
| 13 years | $-5,372 |
| 15 years | $-3,130 |
| 17 years | $-889 |
| 19 years | $1,353 |
| 21 years | $3,595 |
| 23 years | $5,837 |
| 25 years | $8,078 |
Top Solar Installers in Willmar
Many homeowners choose to hire a solar installer since trying to put up solar panels by yourself can be a lot of work. A solar company can also help save you money in the long run by providing warranties, repairs and part replacements.
If you're searching for a solar company in Willmar, we've organized 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 Willmar
Factors that Affect Solar Panel Costs in Willmar
There are a number of factors that can affect your installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that performs the installation.
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 spend around $4,030 per kilowatt in Willmar.There are several different solar panel brands and the one you pick also changes the cost. Typically, the brands that have better efficiency tend to also be more expensive. In addition, the type of equipment you’re looking to get 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
If paying for solar panels in cash is difficult, solar loans are a solid option because they lower your upfront costs and let you pay for your system over a term of, on average, between five and seven years.It’s a good idea to include the interest you’ll pay in your final cost estimate. If you can afford to pay a larger down payment, you can reduce your total costs and how long it’ll take to pay back the loan.
Solar Panel Installation Company
The solar company you choose to handle your switch to clean energy can play a part in your total costs. There are about 3 solar installation companies in Willmar, and each can charge varying amounts for labor and equipment.Some companies 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 choose a company that offers 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 | $9,130 | 16.5 years |
| 8 kW | $4.11 | $23,019 | $12,625 | 16.1 years |
| 10 kW | $4.03 | $28,210 | $16,345 | 15.8 years |
| 12 kW | $3.95 | $33,175 | $20,291 | 15.5 years |
| 14 kW | $3.87 | $37,914 | $24,463 | 15.2 years |
| 16 kW | $3.79 | $42,428 | $28,860 | 14.9 years |
| 18 kW | $3.71 | $46,716 | $33,483 | 14.6 years |
| 20 kW | $3.63 | $50,778 | $38,332 | 14.2 years |
How to Save on Solar Panels
The solar panel company you opt for will influence not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are several important things you should take into account, such as:
- Warranty: Warranties that cover defective panels and repairs over around 25 years are the gold standard in the business, and offering that kind of warranty is one indication of a good company.
- Solar Panel Brands: Not all solar installers have the same brands of solar panels, so the brand and type of panel you want can play a substantial role in the company you go with.
- Installation Process: One of the most important things to understand when going solar is the installation process itself. Be sure to align on any details you should know with your solar installer, such as what permits you should acquire and what the project timeline is.
- Contract: Before signing a contract with a solar company, make 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 the warranty covers and what services you can expect from them.
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 Willmar, MN Solar Cost FAQs
How much does it cost to install solar panels in Willmar?
The average cost of solar panels in Willmar 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 stuff such as the model of solar panels you want, what size system you need and how much energy you consume.
Are solar panels free in Willmar?
You can’t get solar panels for free in Willmar. 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 having solar panels impact my home value?
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 Willmar is currently $220,689, which means you can expect a value of about $9,048 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Willmar is a fruitful investment.
How long do solar panels last in Willmar?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger amount of energy production.
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.