Cost of Solar Panels In Minnesota
Updated October 3, 2024 | 10 min read
Minnesota is rapidly emerging as a prominent solar state in the US! Blessed with abundant sunlight and bolstered by numerous financial incentives, over 250,000+ homes and businesses across Minnesota have already transitioned to solar energy.
Curious about the cost of solar panel in Minnesota? Dive into a comprehensive breakdown of solar panel costs specific to our state below, or secure a tailored solar estimate for your property in mere minutes!
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How Much Do Solar Panels Cost In Minnesota?
The most recent data from the solar industry suggests that the average cost of solar panels in Minnesota falls between $9,000 - $14,000, depending on your home's size and energy needs. With the average Minnesota home measuring around 2,000 sq ft., the typical solar system in our state comes to an approximate $13,879 before applying Minnesota-specific solar incentives.
Here’s a more complete breakdown of the cost of solar panels in Minnesota, by home size.
Home Size (sq ft) |
System Size |
Average Costs |
|---|---|---|
| 1,500 - 1,750 | 3 kW | $9,408 |
| 1,750 - 2,000 | 4 kW | $11,312 |
| 2,000 - 2,300 | 5 kW | $13,879 |
| 2,300 - 2,500 | 6 kW | $16,124 |
| 2,500 - 2,800 | 7 kW | $18,755 |
| 2,800 - 3,000 | 8 kW | $21,607 |
** It's important to note that these costs DO NOT include the thousands you can save by utilizing your Minnesota Solar Incentives. See which solar financial incentives you qualify for by entering your zip code below!
Enter your zip code to see which MN Solar Incentives your qualify for!
Do I Qualify?
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Factors That Influence The Costs of Solar in Minnesota
For numerous Minnesota homeowners, opting for solar energy is not just about environmental stewardship; it also translates to a savvy financial move. The expense associated with installing solar panels in Minnesota is molded by key factors: the energy demands of your home, the choice of solar panels, and any add-ons like solar batteries or extra panels.
While the upfront charges may vary, solar energy in Minnesota presents substantial savings potential. With typical electricity bill reductions ranging between 40% - 60%, many Minnesotans discover that their solar installation can recoup its costs in under ten years.
Solar Panel Installation & Labor Costs in Minnesota
Switching to solar power in Minnesota isn't merely about the panels. Important steps like expert installation, securing permits, and ensuring your system passes all inspections play crucial roles in guaranteeing efficiency and adherence to local regulations. These essential preliminaries usually account for 10% to 20% of the overall solar cost.
But there's encouraging news for residents of Minnesota. Numerous strategies exist to lessen these initial outlays. Check out our detailed guide on how to minimize or even negate the preliminary costs of solar panel setup in Minnesota!
Equipment Costs
When evaluating the equipment costs in Minnesota, the lion's share (around 60-70%) of your total solar budget goes towards the main solar components. This encompasses solar panels, inverters, and the necessary mounting gear. These essential elements collaborate seamlessly, assuring you of a steady stream of green, renewable energy for the foreseeable future.
Solar Taxes
For those contemplating solar in Minnesota, it's imperative to consider potential sales tax on the solar gear and any property tax implications stemming from the increased home value post-installation. Fortunately, Minnesota offers a suite of incentives, including potential tax breaks or exemptions, to residents choosing this green energy route. To gain insights into the solar tax benefits in Minnesota, input your zip code below!
Enter your zip code to see which Solar Tax Incentives your home qualifies for!
Do I Qualify?
Please enter a zip code
How to Reduce The Costs of Solar Panels in Minnesota
Minnesota residents have great news waiting if they're pondering a transition to solar energy. In an effort to champion cleaner, renewable energy, the state offers a diverse range of financial incentives tailored for Minnesotan homeowners.
Are you interested in discovering which solar incentives might be within your grasp? Seek a solar incentive report from seasoned professionals, perhaps companies like EcoGen America. They're equipped to elucidate potential solar rebates, navigate you through the requisite application procedures, and furnish estimates on the expenditure for a custom solar panel system specifically for your home.
ROI on Solar | Solar Panel Payback period in Minnesota
Wondering about the time frame for solar panels to justify their costs in Minnesota? The answer might surprise you with its brevity! Given Minnesota's energy tariffs coupled with its substantial solar benefits, a significant number of homeowners realize their initial outlay within just 7-9 years. Beyond this break-even point, all savings stemming from solar equate to direct profit. This lucrative ROI is testament to why an increasing number of Minnesota inhabitants are choosing to invest in solar.
Solar Financing Options
If the upfront expenses linked with solar transition seem daunting, don't fret. Numerous solar financing avenues, encompassing power purchase agreements (PPAs) and exclusive solar loans, exist to ease this transition. By opting for a PPA or a specialized solar loan, you can embark on your solar odyssey without stressing about considerable initial costs.
To fully grasp how you can kickstart your solar journey without straining your wallet, explore our in-depth guide titled "How to Get Free Solar Panels in Minnesota."
Minnesota Solar Incentives
Minnesota proudly presents a broad spectrum of solar incentives. In this state, homeowners can benefit from tax deductions and potentially sidestep added taxes on the value appreciation of their domiciles after solar implementation or when procuring solar equipment. Moreover, programs akin to the Minnesota Clean Energy Initiative might offer compensation based on the energy production of your solar setup. Collectively, these perks make adopting solar energy in Minnesota a particularly savvy decision.
Interested in a thorough rundown of Minnesota Solar Incentives? Look no further, click here to see the full list!
Making the switch to solar energy in Minnesota is now incredibly cost-effective. Thanks to the state's formidable solar incentives meshed with a plethora of financing routes, you're poised to join the sustainable energy revolution, tapping into the sun's might, all while enjoying significant savings.
Enter your zip code below to see which MN Solar Incentives you qualify for!
Do I Qualify?
Please enter a zip code
Are Solar Panels Worth it in MN?
Unquestionably! For numerous Minnesota homeowners, the allure of solar power goes well beyond the panels adorning their homes. Solar panels don't just offer the promise of substantial reductions in electricity expenses; they're also a beacon of sustainability.
Owing to Minnesota's fervent drive towards renewable energy, manifested in the form of incentives and tax breaks, a considerable fraction of homeowners see their investments in solar panels bear fruit in a mere 7-9 years. But that's just the tip of the iceberg. Visualize the subsequent years where your electricity costs are slashed dramatically, leading to prolonged savings and a more environmentally-conscious energy source.
Setting forth on your solar adventure in the North Star State can be an effortless and fulfilling experience, particularly with guidance from industry veterans. In a matter of minutes, you can obtain a no-strings-attached quote for your solar needs.
This encompasses a detailed virtual examination of your property, a deep dive into Minnesota-specific solar benefits you're poised to enjoy, and a projection of your potential savings. So, what's holding you back? Step into the solar realm today, commitment-free, and be part of the expanding cadre of Minnesotans savoring the myriad perks of solar energy!
Make the switch to solar and start saving in Minnesota!
Contact our team of local energy advisors and see how much you can save with solar in MN!
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Why Trust EcoGen?
At EcoGen America, we take pride in the credibility of our information and ensure its accuracy by cross-referencing our data with esteemed institutions such as the U.S. Department of Energy (DOE), the Solar Energy Industries Association (SEIA), and the National Renewable Energy Laboratory (NREL). Our rigorous validation process underscores our commitment to delivering trustworthy and up-to-date solar content with editorial integrity. Our partners do not direct our editorial content. Learn more
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