The cost of solar panels in Chanhassen, MN (2024)

Updated Feb 22, 2024

  • You'll pay an average of $15,517 to install a 5 kilowatt solar panel system in Chanhassen, MN, before incentives.

  • The federal investment tax credit (ITC) lowers that price by 30% of all your solar equipment and installation costs.

  • With EnergySage's competitive marketplace, you can expect to see prices up to 20% lower than if you work with a single company.

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Written by: Emily Walker

As of February 2024, the average solar panel system costs $3.1/W including installation in Chanhassen, MN. For a 5 kW installation, this comes out to about $15,517 before incentives, though prices range from $13,189 to $17,845. After the federal tax credit, the average price drops by 30%.

Average price of a 5 kW solar panel installation in Chanhassen, MN

Good Price
$13,189 or less
Market Average
$15,517
High Price
$17,845 or more

You'll probably pay even less than what we show here. It doesn't include the federal ITC or Chanhassen, MN state incentives, which will lower this price by at least a few thousand dollars.

Your solar panel cost depends on your system's size

It may seem obvious but larger solar panel systems cost more money. We use cost per watt ($/W) so you can easily compare quotes, controlling for slight variations in system size.

While a 5 kW system will only cost you $15,517 in Chanhassen, MN, doubling the system size effectively doubles the price, so you'll pay about twice that for a 10 kW system. The higher the price tag, though, the more you'll get back as a credit towards your federal tax bill.

Average solar cost by system size in Chanhassen, MN

System Size
System Cost
System Cost (after ITC)
3 kW$9,310$6,517
4 kW$12,413$8,689
5 kW$15,517$10,862
6 kW$18,620$13,034
7 kW$21,723$15,206
8 kW$24,827$17,379
9 kW$27,930$19,551
10 kW$31,033$21,723

Are solar panels worth it in Chanhassen, MN?

Solar panels are worth it in most areas, including Chanhassen, MN. Certain factors, including the cost of electricity, incentives, climate, and the angle at which the sun hits your roof impact how quickly you break even on your investment relative to other areas around the U.S. 

If you pay for your system with cash, you'll save about $27,442 over 20 years on electricity costs with a 5 kW system in Chanhassen, MN. We generate this estimate based on real solar quote data from our Marketplace. It considers your system's cost, the federal tax credit, and inflation rates.

Payback Period
11.15 Years
20-Year Savings
$27,442
Cost-per-Watt
$3.10

If you can't shell out $15,517 in cash to pay for solar, don't sweat it. You can choose to finance your system with a loan instead. Some companies even offer $0-down loans so you can start saving on day one if your loan payments are less than your current electric bills. Just keep in mind that your long-term savings will be lower with a loan due to interest rates.

Find out what solar panels cost in your area in 2024
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The numbers we're showing are averages. The price you'll pay for solar depends on many factors unique to you and your home:

If you're looking for solar companies in MN, here are some popular suggestions:

  • Centauri Systems
    Minneapolis, MN
    Established 2019
    Elite+ Installer
    Our primary objective for our clients is to completely eliminate their energy bills by offering renewable energy ...
    Elite+ Installer
    Screened & Verified
    5.0 /5.0
    52 Reviews

    Our primary objective for our clients is to completely eliminate their energy bills by offering renewable energy ...
  • All Energy Solar
    Saint Paul, MN
    Established 2009
    Elite+ Installer
    All Energy Solar is a trusted leader in the solar energy industry in Iowa, Massachusetts, Minnesota, New Hampshir...
    Elite+ Installer
    Screened & Verified

    All Energy Solar is a trusted leader in the solar energy industry in Iowa, Massachusetts, Minnesota, New Hampshir...
  • Wolf River Electric
    Isanti, MN
    Established 2014
    Elite Installer
    Here at Wolf River Electric customer service and satisfaction is our number one priority because with out you we ...
    Elite Installer
    Screened & Verified
    4.5 /5.0
    88 Reviews

    Here at Wolf River Electric customer service and satisfaction is our number one priority because with out you we ...
  • MN Solar and More, LLC
    Plymouth, MN
    Established 2017
    Approved Installer
    It all starts with a simple, no obligation conversation. Never high pressure, always informative!

    Our energy indus...
    Approved Installer
    Screened & Verified
    5.0 /5.0
    30 Reviews

    It all starts with a simple, no obligation conversation. Never high pressure, always informative!

    Our energy indus...
  • SolarPod
    Shakopee, MN
    Established 2009
    Approved Installer
    Your roof is there to protect everything you love. We start there too. Our patented no penetrations racking is th...
    Approved Installer
    Screened & Verified
    5.0 /5.0
    17 Reviews

    Your roof is there to protect everything you love. We start there too. Our patented no penetrations racking is th...

Solar is a major purchase, but you can get the price tag to come down a bit by being an educated shopper. Taking advantage of incentives and rebates and shopping around for quotes can bring down your cost of solar in Chanhassen, MN.

Take advantage of federal and local solar incentives

As long as your federal tax bill is high enough, you can take advantage of the federal tax credit in Chanhassen, MN. This incentive allows you to apply 30% of your solar installation and equipment costs toward your federal tax bill. If the amount exceeds your tax bill, you can roll over the remaining credit to the following year. Many states also offer great local incentives and rebates.

Get quotes from multiple installers

Comparing multiple solar quotes can save you money through competition and transparency. Each additional quote you receive for solar will help you find the right solar panel system at the right price.

This is where EnergySage can help. With funding from the Department of Energy’s SunShot Prize, EnergySage opened the country’s first (and now the largest) marketplace for home solar panel installations. We gather custom solar quotes from local installers on your behalf and put them in an easy-to-compare format. When you compare quotes for solar panels on the EnergySage Marketplace, you can expect to see prices up to 20% lower than if you work with a single solar company.

Why shop with EnergySage?

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