Solar Savings Calculator for Minnesota

Minnesota homeowners pay an average of $130/month for electricity at 15.5¢/kWh. With 4 peak sun hours per day, solar can dramatically cut your energy costs.

$130
Avg Monthly Bill
15.5¢/kWh
Electricity Rate
4h/day
Peak Sun Hours
$39,713
Est. 25-Year Savings

Calculate Your Savings in Minnesota

Adjust Your Details for Minnesota

$
$50$1,000
50010,000
50¢

Your Estimated Solar Savings

System Size
7.2 kW
Panel Count
18 panels
Total System Cost
$20,880
Federal Tax Credit (30%)
-$6,264
Net Cost
$14,616
Annual Savings
$1,560
Payback Period
9.4 years
25-Year Savings
$39,713
Return on Investment
272%

* Estimates based on 4 peak sun hours/day in Minnesota, system cost of $2.9/watt, 30% federal ITC, 3% annual electricity inflation, and 0.5% annual panel degradation over 25 years. Actual results may vary.

Solar Incentives in Minnesota

Federal Solar Investment Tax Credit (ITC)

Reduces federal income tax liability by 30% of the total cost of a solar energy system, including equipment and installation.

30% of system cost

Minnesota Solar*Rewards Program

Xcel Energy incentive program for residential solar installations.

Performance-based incentive

Cities in Minnesota

Select your city for a more precise estimate with local electricity rates and utility information.

More Solar Resources for Minnesota

Ready to Go Solar in Minnesota?

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