Benefits of Going Solar in Minnesota:
Reduced electricity bills: Solar energy systems can generate a significant amount of electricity, which can lower your electricity bills.
Environmentally friendly: Solar energy is a clean and renewable source of energy, which reduces your carbon footprint and helps to protect the environment.
Increased property value: Installing a solar energy system can increase your property value, making your home more attractive to potential buyers.
Energy independence: Solar energy systems can provide you with energy independence, reducing your reliance on traditional utility companies.
Net Metering Policies in Minnesota:
Minnesota has a net metering policy that allows residential and commercial customers who generate their own electricity from solar energy to send excess electricity back to the grid and receive credit on their utility bills. The policy requires utilities to offer a standard net metering rate to customers with solar energy systems up to 1 MW in size. Any excess energy generated is credited to the customer's account at the retail rate and carried forward to the next billing period.
Rebates and Incentives for Going Solar in Minnesota:
Solar Rebate Program: The Minnesota Department of Commerce offers a Solar Rebate Program that provides incentives for residential and commercial customers who install solar energy systems. The rebate is based on the size of the system and can be up to $2,500 for residential customers and up to $5,000 for commercial customers.
Federal Tax Credit: Homeowners in Minnesota can take advantage of a federal tax credit for 30% of the cost of their solar energy system. This credit is available through 2022 and will begin to phase out in subsequent years.
Property Tax Exemption: Minnesota offers a property tax exemption for solar energy systems, which can provide additional savings for homeowners.
SolarRewards Program: Xcel Energy offers the SolarRewards Program, which provides incentives for customers who install solar energy systems. The program offers a one-time incentive payment based on the size of the system and the energy produced.
Community Solar: Minnesota also has a Community Solar program that allows customers to subscribe to a shared solar energy system and receive credit on their utility bills.