Solar Savings Calculator for Bloomington, MN
Homeowners in Bloomington pay an average of $132/month for electricity through Xcel Energy. With 4 peak sun hours per day, solar panels can significantly reduce your energy costs.
$132
Avg Monthly Bill
15.5¢/kWh
Electricity Rate
4h/day
Peak Sun Hours
$40,549
Est. 25-Year Savings
Calculate Your Savings in Bloomington
Adjust Your Details for Bloomington, MN
$
$50$1,000
50010,000
5¢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
$1,584
Payback Period
9.2 years
25-Year Savings
$40,549
Return on Investment
277%
* Estimates based on 4 peak sun hours/day in Bloomington, MN, 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.
Local Solar Details for Bloomington
Utility & Permits
- Utility Company
- Xcel Energy
- Permit Cost
- $325
- Permit Timeline
- 2-4 weeks
- Net Metering
- full
System Estimates
- Recommended Size
- 7.2 kW
- Panel Count
- 18 panels
- Gross Cost
- $20,880
- Net Cost (after credits)
- $14,616
Available Incentives for Bloomington, MN
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.
Minnesota Solar*Rewards Program
Xcel Energy incentive program for residential solar installations.
Other Cities in Minnesota
More Solar Tools for Bloomington
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