Solar Panel Cost Guide in Minot, ND (2024 Update)

  • Minot Solar Installation Cost: $44,313
  • 25-Year Savings: $33,469
  • Payback Period: 17.5 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated February 03, 2024

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We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Minot

Find out what the average cost of solar panel installation is in Minot.

The national average cost of solar panels is $2.66 per watt, but in Minot it’s 4 per watt.Because a 17.7-kW system is needed to cover the energy costs of a typical home in Minot, the average price of going solar will be about $44,313 after claiming the federal solar tax credit of 0.

These figures are just averages, and the cost of going solar for you may look different based on factors unique to your home and what company you choose to go with.But, after you've paid the initial cost of installation, the ROI for most homeowners is typically rewarding, with a net average savings of about $14,000 over 20 years on power bills.

To see your potential ROI and connect with a local solar company, click the button below.

Solar savings over time in Minot

Year Return on Investment
1 years $-43,040
3 years $-40,495
5 years $-37,949
7 years $-35,403
9 years $-32,858
11 years $-30,312
13 years $-27,767
15 years $-25,221
17 years $-22,675
19 years $-20,130
21 years $-17,584
23 years $-15,039
25 years $-12,493

Top Solar Installers in Minot

Installing solar panels by yourself can be a difficult undertaking, which is why using a solar installer is a good option for many homeowners. Plus, warranties and repairs from your solar panel company can protect your investment and bring down the cost of maintenance over the lifespan of your panels.

If you're on the hunt for a solar company in Minot, we've compiled a list of our top suggestions here:

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Technology

Tesla Energy

★★★★★
3.2

  • 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 Minot

Factors that Affect Solar Panel Costs in Minot

There are several factors that can influence your solar system 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

When it comes to estimating the price of solar panels in Minot, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are mainly based on your home’s energy consumption, which you can gauge by looking at past electricity bills. Your total cost can increase by about $3,580 for each additional kilowatt you need.The kind 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 bring your total well above the Minot average.

Solar Financing Terms

If paying for solar panels in cash is difficult, solar loans are a popular option because they lower your upfront costs and let you pay for your system over five to seven years on average.However, the interest on solar loans also increases your total costs, so it’s important to include that in your estimate as well. You can always bring down the total you pay in interest and possibly even your APR by making a larger down payment.

Solar Panel Installation Company

The solar company you opt for to handle your switch to clean energy can have an effect on your total costs. There are about 3 solar installation companies in Minot, and each can charge varying amounts for labor and equipment.The company’s size sometimes plays the most considerable role in your costs. Larger national companies, like SunPro and Sunrun, often have lower pricing because they have access to greater resources and better pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or promotion can bring their pricing down to compete with bigger companies.

Solar Panel Cost Data by System Size

System size Cost per system watt Solar system cost 25-Year savings Payback period
6 kW $3.72 $15,637 $5,883 18.2 years
8 kW $3.65 $20,449 $8,245 17.8 years
10 kW $3.58 $25,060 $10,807 17.5 years
12 kW $3.51 $29,471 $13,570 17.1 years
14 kW $3.44 $33,681 $16,533 16.8 years
16 kW $3.37 $37,690 $19,697 16.4 years
18 kW $3.29 $41,499 $23,062 16.1 years
20 kW $3.22 $45,108 $26,626 15.7 years

How to Save on Solar Panels

Since the type of solar panels and the installer you choose has an impact on your costs and your system’s efficiency, production, and durability, it’s important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:

  • Warranty: A high-quality company stands out from other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
  • Installation Process: An important thing to understand when adopting solar power is the installation process itself. Be sure to clarify any details you should know with your solar installer, such as what permits you should secure and what the project timeline is.
  • Contract: Read the contract terms closely to make sure you understand the cost breakdown, project timeline incentives and warranties.
  • Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for clean energy professionals. If your solar panel installer is NABCEP-certified, it likely has a solid reputation and is qualified to install your solar system. Another way you can verify your installer’s reputation is by reading reviews.

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Technology

Tesla Energy

★★★★★
3.2

  • 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 Minot, ND Solar Cost FAQs

What is the average cost of installing solar panels in Minot?

The average cost of solar panels in Minot is about $17,900 for a 5-kW system and $35,800 for a 10-kW system before the ITC, but the real cost will depend on stuff like the type of solar panels you want, what size system you need and how much energy you consume.

Should I lease or buy solar panels in Minot?

Leasing solar panels can be an appealing 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 option if you want to maximize your savings.

Can solar panels completely eradicate my electricity bills?

Solar panels can potentially eliminate your electricity bills depending on your location and how much sunlight your home gets. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $717.34 per year.

How long do solar panels last in Minot?

On average, the lifespan of solar panels is 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 higher 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.

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