Solar Panel Cost in Minnesota: Get 3 Free Quotes From Top Solar Companies in 2024
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2 minutesWhy having solar panels is a good idea in Minnesota
By going solar, you help create an emission-free world of tomorrow, become energy independent, and save hard-earned money on your next energy bill.
Contact us now and we match you with the top solar companies in Minnesota, guaranteed 100% free of charge.
Benefits of solar in Minnesota
Save money
In the last few years, the cost of solar in Minnesota has dropped to record-lows, making solar a very attractive source of electricity. According to our data, installing 12 kW of solar saves the average household in Minnesota up to $1,673 - $4,182 on yearly energy bills.
Create your own electricity
On average, U.S. electricity consumers experience 7 hours of power interruption per year. With solar panels on your roof, outages are a thing of the past and you will become energy independent.
Increase your home value
Did you know that solar panels increase your home value? Statistics show that a solar system increases your home value by 4.1% on average.
Contribute to an emission-free world
Every kWh of solar energy means 0.846 lbs less carbon emitted into the atmosphere. A standard 10 kW system saves the equivalent of the weight of 49 F-150 pickup trucks throughout its lifetime.
Other Reasons Why Minnesota is a Great Place for Solar
added Solar Capacity 2023
In 2023, Minnesota added 241 MW in solar capacity. This is enough to power approximately 30,125 houses.
Price Drop / last 10 Years
Over the past decade, the cost of solar energy in Minnesota has witnessed a significant drop of 53%.
National Solar Ranking
As per the national solar ranking, Minnesota has proven its dedication to harnessing solar energy effectively.
affected by Blackouts
Over the past years 2.25 M residents in Minnesota were affected by power outages.
Is solar worth it in Minnesota?
Going solar helps you to save a lot of money on your annual energy bill. On average, our data shows that you can expect to save between $1,673 - $4,182 per year, depending on the solar system size and your location.
| System Size | Average Yearly Output | Potential Yearly Savings |
|---|---|---|
8 kW | 11,388 kWh | $ 1,673 |
12 kW | 17,081 kWh | $ 2,509 |
16 kW | 22,775 kWh | $ 3,346 |
20 kW | 28,469 kWh | $ 4,182 |
State-wide solar incentives in Minnesota
| Name | Territory | Incentive Type | Details |
|---|---|---|---|
Wind and Solar-Electric (PV) Systems Exemption | Minnesota | Property Tax Incentive | |
Value-Added Stock Loan Participation Program | Minnesota | Loan Program | |
Farm Opportunities Loan Program | Minnesota | Loan Program | |
Fix-Up Loan | Minnesota | Loan Program | |
Rural Minnesota Energy Board PACE Program | Minnesota | PACE Financing | |
Minnesota PACE Program (MinnPACE) | Minnesota | PACE Financing | |
Residential Energy Conservation Subsidy Exclusion (Personal) | Federal | Personal Tax Exemption | |
Modified Accelerated Cost-Recovery System (MACRS) | Federal | Corporate Depreciation | |
Residential Energy Conservation Subsidy Exclusion (Corporate) | Federal | Corporate Tax Exemption | |
Energy-Efficient Mortgages | Federal | Loan Program | |
USDA - Rural Energy for America Program (REAP) Grants | Federal | Grant Program | |
Office of Indian Energy Policy and Programs - Funding Opportunities | Federal | Grant Program | |
Clean Renewable Energy Bonds (CREBs) | Federal | Loan Program | |
USDA - Rural Energy for America Program (REAP) Loan Guarantees | Federal | Loan Program | |
U.S. Department of Energy - Loan Guarantee Program | Federal | Loan Program | |
Qualified Energy Conservation Bonds (QECBs) | Federal | Loan Program | |
USDA - High Energy Cost Grant Program | Federal | Grant Program | |
Fannie Mae Green Financing – Loan Program | Federal | Loan Program |
How much do solar panels cost in Minnesota?
Currently, the price per watt for solar panels is $3.01/W in Minnesota. Given the average solar system size of 8 kW, this means that your solar panel cost is around $24,086 in Minnesota (latest data: August 2024).*
Taking state and federal incentives into account, you can expect to save further 30% of the initial cost, bringing the cost of solar in Minnesota down to $16,861 (installation size: 8 kW).
About the diagram: The diagram shows the average price for an 8kW solar installation in Minnesota after the 30% federal tax incentive deduction. Get 3 free quotes from Quote For Solar and potentially save up to $3,793 compared to the average solar installation cost in Minnesota ("Good price").
Solar panels in Minnesota at one glance
Is It worth it to go solar in Minnesota?
How much do solar panels cost in Minnesota?
Are there solar incentives for Minnesota?
Do solar panels work in Minnesota during winter?
How long does the installation take in Minnesota?
Are there finance options for solar installations in Minnesota?
Is solar mandatory in Minnesota?
Do solar panels increase property taxes in Minnesota?
Is solar sales tax exempt in Minnesota?
Get 3 Quotes From Reviewed Solar Installers Fast!
For homeowners wishing to install solar energy on their properties, Quote For Solar is the ideal service.
Quote For Solar offers a free and easy single inquiry format for homeowners to obtain multiple offers from local solar companies for their installation needs.
Solar Companies will compete with each other to win your business, which can increase your savings. In addition, you are assured of receiving quotes only from trustworthy and dependable partners with a proven track record.
Furthermore, relevant advice on selecting the right product and installer as well as tax credits available will be included as part of the package.
Installing solar energy through Quote For Solar can result in long-term savings due to lower energy costs, but with no obligation to purchase, there is no cost to obtain the quotes.
