Best 5 Solar Companies in Minnetonka, MN

How To Choose the Best Solar Company in Minnetonka

The cost and performance of solar panels often depend on the provider that mounted them. Here are some essential aspects to keep in mind while searching for a solar specialist.

Licensing and Training

To install a new photovoltaic system in Minnesota, a contractor must have an electricians' or electrical contractors' 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 put up a $25,000 minimum bond with the Department of Labor and Industry. You should also visit a company's website to learn about its private accreditations. Two of the most respected are the PV Installation Professional and Solar Heating Installer certificates, backed by the North American Board of Certified Energy Practitioners (NABCEP). Some companies don't publish this information online, so you should also ask your estimator about them.

Cost of Solar Panels in Minnetonka

The kind of solar panels you purchase determines how much energy you can generate. Monocrystalline panels and high-quality and give you the best performance but cost more upfront. Polycrystalline panels work with a tried-and-true mechanism and cost less, but produce less power. Thin-film panels aren't the best for large residential installations, but they are excellent accessories for non-traditional roofs.

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 efficiency. Not all solar providers provide these extras, so look for a company that installs them if it's essential for you.

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

Financing Solar Energy in Minnetonka

Solar providers offer multiple different financing options to lower your costs and increase your savings. Though some providers offer unique payment plans, the most common are cash payments, solar leases, solar loans and power purchase agreements (PPAs). Most solar experts recommend a cash payment or using a solar loan. Cash payments demand a large up-front sum, but they save you from paying interest, grant you system ownership, and qualify you for cost-saving solar incentives. Solar loans have the same benefits, though you'll pay more in total due to interest and fees. Much like a home or car loan, you'll pay a set monthly rate with potentially $0 down. Solar leases allow you to pay a monthly fee to rent your panels, while a power purchase agreement lets you pay a fluctuating rate based on only the energy you use. We generally don't recommend these options since you won't own your system and are disqualified from solar incentives, but they might be suitable in specific circumstances. Ask each installer you're considering about the financing options it offers. A consultant can help you determine the most suitable option for your budget.

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

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