Solar Panels In Minnesota Worth It

With the 26 federal tax credit reducing at the end of 2020 millions of american homeowners are asking themselves whether or not installing solar panels is worth it this year.

Solar panels in minnesota worth it.

Compare the best solar energy companies in minnesota in 2020 updated. There are currently 61 solar energy companies operating in minnesota. While cheap solar panels might feel like the easiest way to save some cash your total 20 year savings will often be higher if you invest in high quality equipment. Solar improves the value of your home.

In minnesota the average solar payback period is 9 55 years. I d recommend it to anyone he told the mankato free. This is higher than the average price of residential solar power systems across the united states which is currently 2 60 per watt. How long does it take to earn back your initial investment in solar panels.

Take a look at our breakdown of all of the state specific benefits of going solar in mn. On a cost per watt w basis a solar panel installation in minnesota ranges in price from 2 67 to 3 61. Minnesotans have a lot to brag about when it comes to the top rated solar incentives and programs available in the land of 10 000 lakes. As of september 2020 the average solar panel cost in minnesota is 3 14 w.

In january 2018 president trump imposed a four year tariff on imported solar cells and panels that started at 30 and drops 5 each year. The best way to compare your solar options and save money at the same time is by registering on the energysage marketplace. After accounting for the 26 federal investment tax credit itc and other state and local solar incentives the net price you ll pay for solar can fall by thousands of dollars. The answer depends on many factors including where you live how much roof space you have if your roof is shaded how much power you use what your local utility charges you for electricity and the prices offered by.

A solar payback period is the amount of time it takes for property owners who install solar panels to recover their initial investment through electricity savings. Given a solar panel system size of 5 kilowatts kw an average solar installation in minnesota ranges in cost from 13 345 to 18 055 with the average gross price for solar in minnesota coming in at 15 700. Homeowners are interested in solar panels but haven t taken the time to figure out what it takes to install them. As of sep 2020 the average cost of solar panels in minnesota is 2 74 per watt making a typical 6000 watt 6 kw solar system 12 157 after claiming the 26 federal solar tax credit now available.

Changes in government trade policy also impact prices. Rekstein who had 38 solar panels installed on the roof and awnings of his building said the investment was well worth it. Installation prices will vary significantly depending on the solar company you choose and the equipment you install. When you compare quotes for solar panels on energysage s competitive solar marketplace you can expect to see prices up to 20 lower than working.