Minnesota Solar Information

Pros and Cons of Buying Solar Panels in Minnesota

Advantages:

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  Relatively short payback period

  The solar payback period is the time it takes a homeowner to earn back their initial investment in the solar power system through electricity savings. Some of the factors that play a role in a shorter payback period are lower solar costs, high electricity prices, or strong solar programs and incentives. Nationwide, the average solar payback period is just under 8 years. As of today, the typical payback period for Minnesota is about 9 years.
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  After the payback period, solar power is nearly free

  Besides solar insurance payments that are required in Minnesota, you will not have to pay anything for the electricity that your solar power system generates, once it is paid off.
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  Great savings on a monthly electric bill

  You can expect to save around $100 on your monthly utility bill, once your solar power system starts degenerating electricity. What it means is that you become less dependent on your local utility company and their utility rates, which are highly influenced by inflation. Over the course of 20 years, you can anticipate savings over $25,000 in Minnesota.
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  Helping the environment since solar energy is clean, sustainable, and renewable.

  Sunlight is abundant almost anywhere on the planet and is ready to be collected without causing damage to the natural environment. Solar energy is truly clean, renewable, and sustainable power source, besides it can save you a lot of money. It is proven that using solar energy instead of fossil fuels decreases our carbon footprint by reducing air and water pollution.
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  Support from the government and the state

  Minnesota residents can enjoy significant savings of 30% tax credit on their solar equipment purchase thanks to the Federal Investment Tax Credit program. Also, solar panels here are sales tax exempt, and there are various rebates and a great Net Metering program that make the cost of going solar so much more affordable.
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  Very low maintenance

  A solar energy system does not include any moving parts in its assembly so essentially, there is no wear and tear with their operation. Due to this, solar panels are also completely silent when working. The only maintenance that they need is the occasional cleaning to keep them free of dirt and debris.
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  Excellent warranty protection

  The majority of the solar panels today come with two types of warranties: performance guarantee and extended product warranty. Extended product warranty guarantees any repairs of defective equipment or breakage over their lifespan. The performance warranty guarantees optimal energy production for at least 25 years.
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  Increase in the property value

  Recently, studies by several real estate companies presented that installing solar panels on the roof of your house definitely increases the value of the property. On average, adding a solar energy system will raise your house value by 4.1%. Additionally, not only houses with solar installations sell at higher prices but they also sell faster than the houses without solar systems.

Cons:

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  The possible high initial cost

  Even though the cost of solar energy system installation reached the lowest it has even been in years and keeps declining, the initial expenses of purchasing and installing a PV system might seem quite high for many people. Luckily, residents of Minnesota can take advantage of various federal and state tax programs and rebates, offered by utilities. This will significantly cut down the price of switching to solar.
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  Must have a large, open area for installation.

  The installation of an average size residential solar panel system requires large, open space on the roof. That area has to be free of any shade from trees or other buildings for the solar system to work properly. At times, this situation becomes problematic for some homeowners. Luckily, you can also install the solar panels on the ground, provided they do have direct access to sunlight.
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  Must be a property owner to install

  Unfortunately, today, the solar benefits are not yet available to renters, people with low-income, or people without a job. Solar power system installations are mostly available to homeowners with good credit and good income.

Is It Worth Going Solar in Minnesota?

Looking at the advantages and disadvantages of solar energy in Minnesota, one can clearly see that adopting solar is a great investment for many homeowners. The latest technology development, decreasing solar equipment costs, and financial assistance in the form of tax credits and rebates make solar an attractive clean energy option in the beautiful Land of 10,000 lakes.