Best 5 Solar Companies in Lakeville, MN

How To Choose the Best Solar Company in Lakeville

The purchase price and performance of solar panels often rely on the solar company that mounted them. Here are some crucial criteria to consider while shopping for a solar provider.

Licensing and Training

To install a new photovoltaic system in Minnesota, a contractor must have an electrical contractors' or electricians' license from the Department of Labor and Industry, along with a residential building or remodeling contractors' license in some cases. If their work is regulated by the state's Mechanical Code, they must have a $25,000 minimum bond with the Department of Labor and Industry. Check a company's website for private accreditations from the North American Board of Certified Energy Practitioners (NABCEP), among the solar industry's most credible trade groups. Its program includes certifications for both solar photovoltaic and water heating installers.

Cost of Solar Panels in Lakeville

Different solar panel types look and perform differently. Monocrystalline panels offer the best energy production but cost more than other options and generally have the highest quality. Polycrystalline panels produce less power, but start at a more budget-friendly price point. Thin-film panels work well for small projects like RVs and sheds, but they're not ideal for larger installations due to their low performance.

You can also add electric vehicle (EV) chargers and battery backup systems. These will increase your total installation cost, but they can enhance your solar system's performance. Not every solar company provides these add-ons, so look for a provider that sells them if it's important for you.

Generally speaking, it will cost about $20,150 for a five-kilowatt solar array in Lakeville. This table shows more specific pricing information for different solar panel types and system components in your area.

Financing Solar Energy in Lakeville

There are numerous ways to pay for a solar energy system, and the right one will help you decrease overhead. A few of the most common options include cash payments, loans, power purchase agreements (PPAs), and leases. We recommend paying with cash or using a solar loan for the highest return on investment (ROI). Cash payments require a hefty sum up-front, but you’ll pay the least long-term by avoiding interest. You’ll also have full ownership of your system and can apply for solar panel incentives to cut your total costs. Solar loans are another solid option if you don’t want to make a big initial investment. You can pay for your system in monthly installments while still enjoying energy bill savings and solar incentives. However, you’ll pay more in total due to accruing interest. Solar leases let you use your panels for a set monthly rate, while PPAs let you pay only for the energy you use, much like an electric bill. Both options disqualify you for solar incentives and don't grant you system ownership. Solar experts generally don't recommend them, but they might be suitable in some cases. Ask each business you're vetting about the financing options it offers. A consultant can help you determine the optimal option for your pocketbook.

The table below lists the average payback periods for different capacities of solar systems in Lakeville.

You are eligible for a 26% federal solar tax credit for new solar energy devices until the year 2032. Local and state governments and utility companies might also offer rebates, discounts, and dedicated financing plans that could save you more.